Diamond Fields scraps deal to buy prospective Finnish diamond project
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VANCOUVER (CP) - Diamond Fields International Ltd. has scrapped a deal to buy a prospective diamond exploration project in Finland, but still wants to negotiate on other projects in Africa and Russia.
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Mobile phone maker Nokia will lay off 2,300 employees at a German plant and move production to lower-cost European sites, the company announced Tuesday.Nokia plans to close the plant in Bochum, Germany, by midyear. Nokia also plans to close an automotive business there and is negotiating with Sasken Technologies to sell a Bochum-based software research and development entity, the company said in a news release.The Bochum site was not &quot;globally competitive,&quot; Nokia said. Additional investments would not make the site competitive, the company said.Nokia, based in Finland, announced last March that it was opening a manufacturing plant in Romania. The company also has a plant in Hungary.Market changes and &quot;increasing requirements for cost-effectiveness&quot; mean that &quot;production of mobile devices in Germany is no longer feasible for Nokia,&quot; Veli Sundb&#228;ck, executive vice president of Nokia, said in a statement. &quot;It cannot be operated in a way that meets the requirements for global cost efficiency and for flexible capacity growth. Therefore we have to make this tough decision.&quot;Nokia will negotiate with employee representatives to &quot;reach a satisfactory solution&quot; for everyone involved, the company said.
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The management of Gold Fields, the South African gold producer, was dealt a blow on Tuesday after shareholders voted against a proposed reverse takeover of Canadian gold group Iamgold.
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SEOUL -- US private-equity group Lone Star Funds said yesterday it was terminating a contract to sell its controlling stake in a South Korean bank, scrapping a deal worth billions of dollars amid a high-profile probe by prosecutors.
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Gold Fields loses a key shareholder vote on a merger that may have helped it stave off a hostile takeover from Harmony.
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The Swedish private investment firm Proventus Industrier said it had purchased 15.2 percent of Finnish media company Alma Media, thus creating potential problems for Norwegian media giant Schibsted's takeover bid for the Finnish company.
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Shareholders of the South African mining company Gold Fields rejected a bid to merge with Iamgold of Toronto Tuesday, a development that shifted investors&#39; focus back to Harmony Gold Mining&#39;s hostile bid for Gold Fields.
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"Due to market changes and increasing requirements for cost-effectiveness, production of mobile devices in Germany is no longer feasible for Nokia"  Finnish phone maker Nokia Corp. said Tuesday it will close a manufacturing plant and automotive supply unit in Bochum, Germany, and was in talks to sell a research and development unit in Bochum to Sasken ... via SanLuisObispo.com
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Canada's biggest mining company, Noranda Inc., has ended exclusive talks with China Minmetals Corp., but the Chinese metals trader said Thursday it will persist with its acquisition bid.
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Gold Fields shareholders reject merger with Iamgold.
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Australian prospector Midwest Corp   rejected a $1 billion-plus takeover proposal from its  major shareholder, the Chinese commodities trader Sinosteel,  emboldened by another big hike in iron ore prices this year.
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Gold miner Gold Fields has bought a 14.4 percent stake in Canadian miner Comaplex Minerals, it announced on Thursday. The group said it had purchased 5.2 million common shares in the Toronto-listed miner through
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South African gold producer Gold Fields has rejected a $8.2bn (Â£4.5bn) bid by rival Harmony which would have created the world&#39;s largest gold company.
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ATTEMPTS by mining house Gold Fields attempts to resist rival Harmony&#39;s hostile takeover bid were dealt a major blow yesterday, after a last-minute switch by Sanlam Asset Managers effectively torpedoed its plan to list its international assets in Canada.
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TORONTO (CP) - US jewelry retailer Tiffany &amp; Co. has sold its nearly 14 per cent stake in Aber Diamond Corp., part owner of Canada&#39;s second diamond mine, Diavik.
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JOHANNESBURG  -- Gold Fields has formally announced that its proposed merger terms with Toronto-listed IAMGold, due for the vote on December 7, are unchanged but that Gold Fields will contribute $200 million (in US dollars) less in cash to
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NEW YORK/FRANKFURT  - ArcelorMittal   has ended a $1.35 billion deal to sell its Sparrows Point steel plant to E2 Acquisition Corp because E2 had been unable to secure financing, the world's largest steelmaker said on Monday.