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The world's largest producer of platinum, Anglo American Platinum, agreed with the Swiss Glencore to purchase its 39 percent stake in the South African joint venture Mototolo. Under the terms of the deal, Anglo American will pay a fee that includes an advance of approximately 800 million South African rands and a deferred consideration that will be paid within 6 years. The amount of deferred consideration will be approximately 1 billion rands, it will be determined depending on the prices of platinum group metals. At the same time, the total remuneration is limited to 22 billion rands. It is expected that the actual deal, which should still be approved by the authorities, will be held in the fourth quarter of this year.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Alibaba Group Holding Ltd's (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment ...
On Monday, Fujitsu Ltd. (6702.T) announced that it would halve its office space in Japan by March 2023 as it pushes for its 80,000 employees to work remotely amid the coronavirus outbreak. The IT solutions company said that its employees would ...
On Wednesday, Ryanair's (RYA.I) Chief Executive Officer Michael Kevin O'Leary announced that around 3,500 jobs would be slashed at the airline unless it could agree on a series of pay cuts with staff. The warning came after the company resumed ...
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