BHP Billiton to cut 380 South Australia jobs, mostly from Olympic Dam mine
South Australia already has the country’s highest unemployment rate at 7.9%, though BHP says the move is not a reflection of state government policy Mining giant BHP Billiton will cut 380 jobs, mostly from its Olympic Dam mine, after a review of its South Australian operations. Related: BHP Billiton fined US$25m for gift trips to […]
Look past the statistical comedy – the jobs figures are actually great news | Greg Jericho
The unemployment jump to 6.3% is alarming but only at first glance, and the government is on track to meet its promise of a million new jobs in five years Last week’s job figures included a jump in the unemployment rate to 6.3%, the highest rate since June 2002. But rather than be worried, treasurer […]
Thinktank urges investment in low-wage sectors to raise UK productivity
Areas such as hospitality and parts of retailing do not face the same competitive pressures as high-end manufacturing, the IPPR says The government must focus on unloved sectors such as hospitality and retail, if it is to tackle Britain’s lamentable productivity record, according to a new analysis by thinktank the Institute for Public Policy Research. […]
RBS executives set for multimillion-pound payout
Share awards come a week after the government sold a stake in Royal Bank of Scotland Royal Bank of Scotland is preparing to hand out shares worth an estimated £2.5m to its 10-strong management team. The payouts come a week after the government took the first steps since the 2008 taxpayer bailout to begin reducing […]
Jeremy Corbyn is right to blame the banks, not Labour, for the financial crisis
While other candidates apologise for spending and borrowing too much, Corbyn’s take on austerity and party’s economic record adds up Here’s a question for you. Consider the following statement: “We must live within our means, so cutting the deficit is the top priority.” Do you agree? If you said yes, you are with the majority. […]
The innovators: cheaper batteries could help electric cars hit the mainstream
Sheffield-based Faradion has developed a sodium-ion battery that looks and performs in the same way as a regular lithium-ion battery but is 30% cheaper There was a surge in the sale of electric cars last year but the number leaving the forecourts is still dwarfed by traditional gas-guzzlers at a ratio of almost 50 to […]
Does Rupert Soames hold key to Serco success?
The chief executive, and his counterpart at G4S, are due to report half-year results after damaging period for both security firms It’s August and the corporate news is drying up as Britain’s bosses head for their holiday villas, so let’s be thankful that Serco and G4S are around to enliven the week. Both security outsourcers […]
Labour needs a leader who stands up to George Osborne’s cuts agenda
Jeremy Corbyn has been criticised as a throwback, but he is a timely reminder to his party of its values. And history has hardly been kinder to the Conservatives As CJ, the managing director in a famous bygone BBC television series, might have said: I did not get where I am today forecasting the outcome […]
The Libor conviction is welcome. Now directors must be held accountable too
The new regulatory regime for banks and brokers will force senior managers prove they are taking steps to prevent fraud. At least, that’s the theory This week’s 14-year prison sentence for Tom Hayes, the former UBS and Citigroup trader convicted of conspiracy to defraud, was a landmark moment in the cleanup of the City after […]
Strengthening ties between indigenous peoples and the mining community
On this International Day of the World’s Indigenous Peoples, Anglo American demonstrates how it is bridging ground and incorporating traditional knowledge Hundreds of years of mining experience is valuable. Thousands of years of local knowledge is invaluable. The question, then – for businesses like Anglo American and the mining industry as a whole – is […]