28 January 2021 | 08:50am
StockMarketWire.com - The FTSE 100 was 59.97 points down this morning at 6,507.29 as the market awaited big name reports on super Thursday as well as any developments in the Reddit attack on hedge funds.
The impact of Redditors attacking hedge fund shorts is causing uncertainty with the Dow down 2% by the close last night and the FTSE 100 expected to fall more than 1%. A spat over vaccines involving AstraZeneca, the UK and EU also didn t help sentiment.
Budget Airline EasyJet reported a slump in first quarter revenue and said it expected second-quarter capacity of just 10% of the prior-year period as lockdowns continued to dent air travel activity.
Rio Tinto has overhauled its executive leadership team with a focus on local talent as it seeks to repair damage done in the blasting of ancient rock shelters.
Aboriginal native title groups say Rio Tinto’s executive reshuffle is a sign the company is in “PR mode” and the new appointments won’t lead to meaningful change in the miner’s dealings with traditional owners. Investors also remain sceptical as to whether Rio has committed to the cultural change needed after it destroyed 46,000-year-old rock shelters at Juukan Gorge in the Pilbara. They are flagging a confrontation with management at the.
Provided by Business Wire
Rio Tinto unveils new Executive team
Rio Tinto will increase its focus on operational excellence and project development, strengthening the company’s ESG credentials, and rebuilding trust, particularly in Australia, under a new organisational structure. This approach will be underpinned by the safe operation of our world-class assets, continued disciplined capital allocation, and a strong balance sheet.
To achieve these goals, Rio Tinto Chief Executive Jakob Stausholm has appointed a permanent Chief Executive of Rio Tinto’s Iron Ore business, created a Chief Operating Officer (COO) role, and added a Chief Executive Australia to his leadership team. Simon Trott, currently Chief Commercial Officer, will become Iron Ore Chief Executive; Copper & Diamonds Chief Executive Arnaud Soirat will become Group COO; and Kellie Parker, now Managing Director Pacific Operations Aluminium, will join the Executive Committee (ExCo) as Chief Executive
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The Resolution Copper project has entered the next phase of public consultation in the ongoing permitting process, led by the US Forest Service, with the release of its independent Final Environmental Impact Statement (EIS).
Decisions on whether to invest fully in developing the project, a proposed underground mine located in Arizona and one of the world’s most significant undeveloped copper deposits, remain subject to further permitting processes and a feasibility study that will be conducted over several years.
Resolution Copper is committed to continuing its engagement with Native American Tribes and working to seek consent before any decision on the development of the project, consistent with the International Council on Mining and Metals (ICMM) Statement on Indigenous Peoples and Mining.