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European commission approves NYSE takeover

Written By Unknown on Senin, 24 Juni 2013 | 23.48

THE European Commission has approved InterContinental Exchange's proposed $US8.2 billion ($A8.94 billion) takeover of NYSE Euronext, saying the two are not direct competitors in most markets and will continue to face strong competition.

The deal will give ICE control of London-based Liffe, Europe's second-largest derivatives market.

The combined ICE-NYSE Euronext would be the third-largest exchange group globally, behind Hong Kong Exchanges and Clearing and CME Group.

The European Commission confirmed it approved the merger in an emailed statement on Monday.


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Gold mining firm Barrick to lay off 100

THE world's largest gold mining company has announced plans to eliminate 100 jobs at its corporate headquarters in Toronto.

Barrick Gold Corp said on Monday the reduction represents 30 per cent of the head office.

Barrick spokesman Andy Lloyd cited a challenging business environment.

Falling gold prices, rising costs and a sagging stock price have plagued the company.

Since late 2011, the gold price has fallen by $US600 ($A654.16) - more than 30 per cent.

The company announced last week it planned to reduce its workforce by 55 positions in Nevada and Utah.

The company has 25,000 employees worldwide.

Lloyd says impacted employees will receive severance packages and access to career placement services.

The reduction follows a thorough review of the company's organisational structure that was prompted by the change in business conditions.


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Union urges retailers sign safety accord

THE textile union has called on two leading Australian retailers who sell Bangladeshi manufactured clothing to immediately sign an accord on building safety in that country.

Several Australian retailers including Coles, Rivers and Forever New were named in a report by the ABC's Four Coroners program, which highlighted poor pay and conditions faced by textile workers in Bangladesh.

The program heard allegations of terrible building conditions, workers being threatened with violence and exploitation.

Coles and Rivers are yet to sign an accord on building safety in Bangladesh.

Forever New signed the accord on Friday, the program said.

National secretary of the Textile, Clothing and Footwear Union of Australia Michele O'Neil said reports of conditions in Bangladesh were "shameful and outrageous".

"Rivers and Coles must act immediately and sign the Accord on Fire and Building Safety in Bangladesh that was established after the Rana Plaza collapse in Dhaka," she said.

"The survivors and the families of those who died are waiting for companies who use Bangladesh to make their clothes to sign up."

Kmart and Target have already signed the accord.

In a statement Coles said it had just one supplier in Bangladesh for a small Mix clothing order which will be completed in the next few weeks.

"Like all of our international suppliers, the factory working on this order has been audited to international standards and complies with our ethical sourcing policy," Coles said in a statement.

It said sourcing from Bangladesh had always been small.

"Coles does not intend to manufacture any further Mix clothing in Bangladesh but if we do in the future we will only source from factories that are accredited under our global ethical sourcing guidelines, and we will sign the Bangladesh Fire and Safety Agreement," the company said.

In a statement to the ABC, Forever New said it was committed to ethical conduct and said its Bangladeshi suppliers were not connected to the recent disaster.

Contact numbers on Rivers website were only staffed during business.

The company refused to comment to the ABC saying only: "management will be in contact if they are interested".

Greens consumer affairs spokeswoman Sarah Hanson-Young said a mandatory national scheme was needed to make Australian companies work towards improving conditions in foreign sweatshops.

"The real cost of Australia's cheap clothes isn't measured in dollars and cents, it's measured in human suffering," she said.

"The companies have shown they can't be trusted to tackle this issue themselves and the government now needs to implement a national system whereby retailers are made to work towards better conditions for their employees."


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European stocks close down

Boof for PM? It could happen...

Boof for PM? More likely than Gillard

"BOOF for Prime Minister'' was a regular chant on the outer at Adelaide Oval over the years but perhaps now it can gain some real traction.

Why Holden has made a U-turn

Why Holden has made a U-turn

SOMETHING has happened at Holden in the four weeks since Ford announced it would shut its Australian factories.

Bakery bandit pays for the dough

Man bashed in street robbery

A ROBBER who tried to hold up a bakery in northern Victoria with a pretend gun placed an order and paid for it when staff refused to hand over cash.

Matt and Kim finally win

Matt and Kim finally win

MATT and Kim from WA score two perfect 10s for their living and dining area, and their first win on The Block Sky High


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Ex-Italy PM Berlusconi faces 7 years jail

FORMER Italian premier Silvio Berlusconi has been found guilty of soliciting sex from a minor and abusing his powers to cover up his actions by a Milan court, which sentenced him to seven years in prison and a lifetime ban on holding public office.

The verdict came after seven hours of deliberation.

The sentence will be suspended until the appeals process has been exhausted, which in Italy's justice system could take years.


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Labor could lose 35 of 71 seats: poll

Boof for PM? It could happen...

Boof for PM? More likely than Gillard

"BOOF for Prime Minister'' was a regular chant on the outer at Adelaide Oval over the years but perhaps now it can gain some real traction.

Why Holden has made a U-turn

Why Holden has made a U-turn

SOMETHING has happened at Holden in the four weeks since Ford announced it would shut its Australian factories.

Bakery bandit pays for the dough

Man bashed in street robbery

A ROBBER who tried to hold up a bakery in northern Victoria with a pretend gun placed an order and paid for it when staff refused to hand over cash.

Matt and Kim finally win

Matt and Kim finally win

MATT and Kim from WA score two perfect 10s for their living and dining area, and their first win on The Block Sky High


23.48 | 0 komentar | Read More

Qatar emir to hand power to son: report

QATAR'S emir will address the country to announce a transfer of powers to his son Crown Prince Sheikh Tamim, a Qatari official says.

"The royal palace announces that Qatar's emir, Sheikh Hamad bin Khalifa al-Thani, will address the Qatari people at 8am (1500 AEST) on Tuesday," said a statement carried by the official QNA news agency.

A Qatari official said that the emir will "announce the transfer of his powers to his son".


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