The fall in US interest rates could not have come at a better time for mining giant
Last week's fall in US interest rates could not have come at a better time for mining giant Anglo American, which is racing the clock to sell surplus assets as part of a defensive corporate restructure.Cheaper money is a key factor in stimulating global economic growth which had slowed under the high-rate policies of central banks that followed government spending sprees in the COVID-19 years.
De Beers, the Anglo business most exposed to consumers' whims, has been feeling the pinch of tight wallets, as measured by falling sales at U.S. jewellery leader Signet, which owns big-name retailers such as Zales and claims to be the world's biggest diamond jewellery retailer.Earlier this month, Signet reported a 7.6% decline in sales and a US$100.9 million operating loss in the 13 weeks to August 3, partly caused by a large non-cash impairment.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Anglo starts ball rolling with with Amplats share saleMiner sells down stake in platinum arm
Read more »
Anglo was never 'Plan A' for BHP: HenryOrganic growth has always been BHP’s first order of business
Read more »
University removes Anglo-Saxon from module titles to 'decolonise the curriculum'The University of Nottingham is removing the expression from a number of courses and replacing it with the more favoured 'Early Medieval English.'
Read more »
University removes Anglo-Saxon from module titles to 'decolonise the curriculum'The University of Nottingham is removing the expression from a number of courses and replacing it with the more favoured 'Early Medieval English.'
Read more »
'Significant' Anglo-Saxon Dogger Bank finds to go on displayArchaeologists say they made 'regionally significant' discoveries during excavations in Holderness.
Read more »
Sisters discover 'epic' Anglo-Saxon brooch at campsiteThe discovery, thought to date back to the 6th Century, was made during a scout-run excavation.
Read more »