David Butler News
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Bumi Plc, at the center of a dispute over control involving founders Nathaniel Rothschild and the Bakries, said the Indonesian family are sticking to terms of a proposal valued at more than $580 million to exit the group.
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A New Jersey investor and his company pleaded guilty in an expanding federal investigation of bid-rigging in auctions for municipal tax liens throughout the state.
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Nathaniel Rothschild, scion of a centuries-old banking dynasty, said he may seek to remove the board of the coal venture he founded with Indonesia’s Bakrie family in the coming weeks because it has failed shareholders.
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PepsiCo Inc. and MillerCoors are looking for some Steve Jobs magic.
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Nathaniel Rothschild, whose ancestor helped bankroll Britain’s war against Napoleonic France, is studying a $1.2 billion offer for the assets of Bumi Plc from one of his co-founders of the Indonesian coal venture, after the stock slumped about 75 percent in two years.
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Rio Tinto Group, the world’s third- largest mining company, said first-half profit dropped 22 percent after prices for iron ore, copper and aluminum fell and costs at its operations gained.
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Chris Huhne resigned as U.K. energy secretary after becoming the first serving Cabinet minister to be charged with a serious criminal offense in modern times.
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Xstrata Plc , the world’s fourth- largest copper producer, approved investment of $1.47 billion to develop the Antapaccay copper mine in Peru as the company seeks to increase its production of the metal by 50 percent.
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Xstrata Plc , the largest exporter of coal used for power, said annual profit surged 86 percent as rising demand in emerging markets pushed up prices, and forecast lower Asian growth this year.
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When the U.S. Centers for Medicare and Medicaid Services needed help managing a telephone hotline last year, it didn’t open up competitive bidding for the work. The $929 million contract, one of the agency’s biggest, was instead given to a company that’s done the job since 2002.
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