Johannesburg | Reuters –– Glencore has increased its debt reduction target and deepened its capital spending cuts, stepping up its response to lower commodity prices and boosting its battered shares by 12 per cent on Thursday. The mining and commodities trading firm and owner of Canadian grain handler Viterra said it was targeting net debt […] Read more
Glencore shares jump on debt reduction moves, spending cuts
Glencore to rein in debt as commodity slump persists
Reuters — Mining and trading company Glencore acknowledged on Monday the severity of the global commodity market slump as it suspended dividends and said it would sell assets and new shares to cut heavy debts built up through years of rapid expansion. The London-listed company came under pressure to cut its net debt of US$30 […] Read more
South Africa raises minimum farm wage after strikes
South Africa raised the minimum wage for farm workers by up to 50 per cent on Monday in response to a wave of violent strikes, but farmers said the increase would only cause job losses and more unrest in the major fruit exporter. Labour Minister Mildred Oliphant said the new salary, which has jumped to […] Read more
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