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Brazilian state and judicial bodies have frozen assets of the mining company Vale in the amount of more than 16 billion reals. This was reported by the Brazilian company, which due to an accident at a mine in Minas Gerais on January 25 suspended a number of operations. A breakthrough of the dam of the mine’s storage, owned by Vale, led to the fact that the municipality of Brumadinho was flooded with waste from the mining and processing complex. As a result of the disaster, 212 people died and 93 people were reported missing. The Brazilian authorities froze Vale’s assets to cover the costs of the accident, including compensation and wages. Earlier, Vale reported a 24.6% increase in net profit in 2018 to 6 billion 860 million dollars, aided by good fourth quarter results. Operating income grew by 7.7% to $36 billion 580 million.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
On Monday, the Australian Competition and Consumer Commission (ACCC) filed a case against Google (GOOGL) in federal court after allegations that the multinational technology company misled its consumers about the expanded use of their personal ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
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