WorleyParsons Cuts Some Jobs, None Linked to Olympic Dam
Mining and energy services company WorleyParsons Ltd. (WOR.AU) said Tuesday it has been forced to cut some jobs and redeploy other staff as "isolated pockets" of its Australian business are affected by changes and delays to mining projects in the resource-rich country.
Japan Regulators Seek More Bailout Powers: Report
Japanese regulators are seeking a mandate to bail out insolvant brokerages and insurance companies if needed, in addition to existing powers to save banks and bank holding companies, the Nikkei business daily reported Tuesday.
China Construction Bank Sees Bad Loans Rising
China Construction Bank Corp., the country's second-largest lender by assets, warned of risks from the bank's rising nonperforming loans in eastern China, though it said it has set aside sufficient provisions against loans made to a private company that has already filed for bankruptcy.
Correction to Citigroup Mortgage-Backed Securities Settlement Story
Citigroup Inc. (C) has agreed to pay almost $25 million to a group of investors who said they were misled about the quality of mortgage-backed securities that suffered losses after the housing market collapsed, according to a proposed settlement filed in federal court Monday.
Brazil's Petrobras Monitoring Track of Tropical Storm Isaac
Brazilian state-run energy company Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), or Petrobras, said late Monday it is monitoring the path of Tropical Storm Isaac, but hasn't yet started evacuating the U.S. Gulf of Mexico's first floating production, storage and offloading vessel, or FPSO.
U.S. Aluminum-Can-Recycling Rate at 65% in 2011
The share of aluminum containers that were recycled in the U.S. in 2011 reached the highest point in 14 years, as can makers sought to reduce costs, a group of trade organizations said Monday.