Anglo American has hired three banks for the sale of its steelmaking coal assets, which analysts value at as much as $5 billion and is part of a broader restructuring to fend off an approach from rival BHP , two sources close to the matter said on Tuesday.
Federal Reserve Chair Jerome Powell on Tuesday testifies before the Senate Banking Committee in a hearing likely to take stock of whether recent signs of slowed inflation and a slowing U.S. job market will prompt the central bank to accelerate its plans to cut interest rates.
Board directors of banks must take ultimate responsibility for outsourced services and document how they manage the risk of outages and disruptions to customer services, the global Basel Committee of banking regulators proposed on Tuesday.
India consumer price inflation probably edged up in June, snapping five months of declines, largely because of a jump in vegetable prices caused by the damage to crops wrought by extreme weather, according to a Reuters poll of economists.
Pfizer said on Tuesday its chief scientific officer Mikael Dolsten, a key figure behind the development of the company’s COVID-19 vaccine, would step down after a more than 15-year career at the drugmaker.
Nornickel is in talks with China Copper to form a joint venture that would allow the Russian mining giant to move its entire copper smelting base to China, four sources with knowledge of the matter told Reuters.
A record $7 billion in attorneys’ fees for three firms that successfully challenged Elon Musk’s $56 billion Tesla pay package provides an incentive for lawyers to hold corporate boards accountable, an attorney for a company shareholder told a Delaware judge on Monday.
Similac baby formula maker Abbott is expected to face a trial on Monday over claims that its formula for preterm infants used in neonatal intensive care units causes a potentially deadly bowel disease, the second trial out of hundreds of similar lawsuits in the United States.
The U.S. Federal Reserve is considering a rule change that could save the country’s eight largest banks combined billions of dollars in capital, in a potential long-sought win for the industry, according to four people with knowledge of the matter.
Asia’s rich and their bankers said they are backing an eventual recovery in China and betting exposure to a region that even in a slowdown is the fastest-growing in the world will pay off.
