Human Right Claims: Petra Agrees $6m Settlement May 13, 21 by John Jeffay
(IDEX Online) - Petra Diamonds has agreed a $6m settlement, with no admission of liability, over claims that it breached the human rights of illegal miners at its Williamson mine, in Tanzania.
It follows a hard-hitting NGO report a
nd a legal case brought on behalf of 71 people who alleged they suffered abuse at the hands of Petra s security personnel.
The UK-listed miner, which bought the huge kimberlite resource (
pictured) in 2009, said it had taken immediate action upon being made aware of the allegations in 2020.
CEO Richard Duffy said: The wider Petra board have been equally determined to address the shortcomings identified, and have taken remedial actions where necessary to minimise the risks of reoccurrence of similar events.
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United KingdomSpirits maker Diageo restarts capital return plan after strong recovery
Reuters
2 minute read
A bartender takes a bottle of Johnnie Walker whisky in Almaty, Kazakhstan June 22, 2017. REUTERS/Shamil Zhumatov
Diageo (DGE.L) is expecting organic operating profit growth of at least 14% in the current fiscal year, the spirits maker said on Wednesday, while restarting its capital return plan following a strong recovery led by North America.
The UK-listed company, which makes Johnnie Walker whisky and Tanqueray gin, started the second part of its capital-return plan of up to 1 billion pounds ($1.41 billion) and expects to buy back shares starting today, it said, after pausing it last year because of the COVID-19 crisis.
UDG Healthcare, a FTSE 250 pharmaceutical industry services group, has agreed a £2.6 billion takeover by Clayton, Dubilier & Rice, in the latest acquisition of a UK-listed company by private equity.
Sustainable BusinessCineworld investors approve management pay, but discontent grows
Reuters
2 minute read
People enter a Cineworld cinema following the outbreak of the coronavirus disease near Manchester, Britain, October 4, 2020. REUTERS/Phil Noble
Cineworld (CINE.L) shareholders approved a resolution for management pay at the annual general meeting, the company said on Wednesday, but support dwindled after major advisory groups recommended voting against it for being excessive.
The world s second-largest cinema chain, which sunk to its first-ever loss last year due to the COVID-19 crisis, said 74% of the votes cast in the meeting were in favour of the remuneration report.
That marked a significantly lower level of support compared to the 93.41% votes in favour in 2020.