The long-awaited mega-merger between Glencore and Xstrate would create a £49bn company with around 130,000 employees in more than 40 countries. It would bring together Xstrata’s coal, copper, nickel and zinc mines with Glencore’s virtually unchallengeable position trading hundreds of commodities, including oil, coal, metals and grain. Article
Is there a difference between banks bailed out by the government and banks that have made it on their own? What are the tax consequences of bonuses versus ordinary income? Article
President Obama may think we should make things like Germany, grow small and medium-sized businesses and act on the basics, but his best friend made a ton of money on deriatives. Article
Lucie Salhany, the former chairman of Fox Broadcasting Co. and a former director at Compaq Computer Corp. and subsequently Hewlett-Packard, has often been the sole woman in the room at business meetings. She said she thinks the main reason so few women have ascended to the C-suite and boardrooms is because a lot of men prefer other men they know or admire — no matter how many times they hear that diversity leads to better decision- making or that women could help them reach female customers. Article
Soon, India would be one of the first countries to set up a bank not only targeted at women but also run by women. Indonesia, with a few financial institutions targeted at women, may only come as a distant second since the facilities do not qualify as a full-fledged bank…..
TM Bhasin, chairman and managing director, Indian Bank, also hailed the move. He said such a bank would help in uplift of women in general. Though the bank would primarily lend to women, Chidambaram said, deposits would be taken from male customers as well…article
Lubrizol had the same problem as Buffett hovered, Is it possible to protect against insider trading in our era of supersonic communication? Article
Tim Cook is not Steve Jobs. Whether or not the company can continue produce must-buys for 18 to 34 year old men is a question. Watches don’t sound very sexy. Shareholders asked about the 137 billion in cash. They also wondered if Apple could put more bathrooms in its retail stores, and create an “iBike computer.” Another investor said Gore shouldn’t be on the board because he sold his Current TV network to Al Jazeera, the cable channel funded in part by oil- rich Qatar. Article
Yahoo’s CEO has called her troops into the office. An uproar ensued. Studies suggest that work gets down outside the office, but if you want a promotion, you have to check in often. Article
The Swiss Federal Council adopted two consultation drafts which are supposed to implement the revised international recommendations on combating money laundering and terrorist financing. In addition, untaxed assets will be blocked from financial intermediaries in Switzerland by extending due diligence requirements.
The Basel AML index attaches Switzerland a ML risk score of (is this 578) 5,78 (Status 28.2.2013) which places Switzerland on the ranking between Vanuatu and Mexico.
The key points of the proposed amendment bills are:
Finance Minister P Chidambaram in his presentation of the Union Budget on Thursday had many women-related issues covered with a women’s bank and a Nirbhaya Fund as the highlights.
Bengaluru: With major plans for women, Finance Minister P Chidambaram on Thursday has wooed the fair sex.
High among the plans is the allocation of Rs. 1000 crore for safety and empowerment of women which will be called Nirbhaya Fund.
The country is also all set to get an all-women bank by this year with the government announcing an initial capital of Rs. 1,000 crore for the purpose.
Announcing the Budget proposals for 2013-14, Finance Minister P Chidambaram said the bank is likely to be set by October this year.
“I…propose to set up India’s first women bank as the public sector. I shall provide Rs. 1,000 crore as initial capital. I hope to obtain the necessary approval and banking licence by October, 2013,” he said…article