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“Vale humbly acknowledges that, whatever we have been doing, it has not worked, as a dam has collapsed,” CEO Fabio Schvartsman told lawmakers in Brazil’s lower house, who are investigating the tragedy. The break of Vale’s dam polluted the Paraopeba river and killed at least 166 people, with nearly 200 still missing, according to the latest information from rescue workers. The company’s share price has been hammered and its woes are mounting. Vale prioritized profit over the safety of its workers at the dam, Deputy Prosecutor-General João Pedro de Saboia Bandeira de Mello Filho said in an opinion, sent to the supreme court, and seen by Reuters on Thursday.
Vale disputed that argument, pointing out that the dam had all its permits, and that the company gold onyx cufflinks constantly invested in improving safety there, Meanwhile, Brazil’s securities watchdog CVM is investigating Vale’s top executives and board members over the dam collapse, newspaper Valor Econômico reported on Thursday, The CVM is looking into any breaches of securities laws over the incident, and has the power to impose fines and bar executives from working at listed companies in Brazil..
The investigation is running parallel to civil and criminal probes. The CVM case started on Jan. 28, three days after Vale’s Córrego do Feijão dam burst, the newspaper Valor said, citing documents relating to the probe. The regulator confirmed to Reuters on Thursday it started two administrative probes into Vale after the dam collapse, but declined to elaborate. Vale did not have an immediate comment on the CVM investigations. CEO Schvartsman argued that Vale should not be condemned for the collapse.
(Reuters) - Ford Motor Co Chief Financial Officer Bob Shanks plans to retire and is expected to stay through the end of the year, CNBC reported on Thursday, citing sources, A new finance chief is likely to be announced in the second half of this year, CNBC said, Shanks was named the automaker’s chief financial officer in April 2012, Ford did not immediately respond to a request for comment, Shanks, who joined Ford in 1977, has also been the CFO at Mazda Motor Corp, The No.2 U.S, automaker is restructuring operations globally, including cutting thousands of jobs and looking at plant closures gold onyx cufflinks in Europe as part of its plan to return to profit in the region..
HONG KONG (Reuters) - Alibaba Group Holding Ltd has bought an 8 percent stake in Chinese video platform Bilibili Inc, the official Xinhua news agency reported on Thursday. Alibaba’s e-commerce retail arm, Taobao, will own 24 million shares in Bilibili, one of China’s leading online video sharing and entertainment platforms which listed on Nasdaq in March, Xinhua reported. Chen Rui, Bilibili’s CEO and chairman, was quoted by Xinhua as saying that he hoped the collaboration would help boost Bilibili’s users by leveraging on Taobao’s huge platform.
WASHINGTON (Reuters) - The Trump administration has not yet made a decision on whether to extend a March 1 deadline for a trade deal with China, a top White House economic adviser said on Thursday, “I can’t speak to that, No such decision has been made so far,” National Economic Council Director Larry Kudlow told Fox News Channel when asked if there would be a 60-day extension, In the interview, Kudlow gave an upbeat assessment on high-level trade talks in Beijing, and said gold onyx cufflinks the U.S, negotiating team would meet with Chinese President Xi Jinping on Friday..
(Reuters) - Apple Inc said Thursday that it will resume selling older iPhone models in its stores in Germany, where they were banned last year due to a patent infringement ruling. The iPhones will be sold in Germany only with chips from Qualcomm Inc, instead of a mix of chips from Qualcomm and Intel Corp. Qualcomm is in a global legal battle against Cupertino-based Apple over patent licensing, and the German case was part of the chip supplier’s efforts to rack up smaller wins ahead of a major lawsuit with Apple that goes to trial in April in San Diego. Qualcomm last year also won a ban on sales of some iPhones in China.
Apple said it had “no choice” but to stop using some chips from Intel Corp in iPhones headed to Germany in gold onyx cufflinks order to comply with the patent infringement ruling, Qualcomm, the world’s biggest supplier of mobile chips, sued Apple in Germany alleging that some older iPhone 7 and iPhone 8 models violated Qualcomm patents around so-called envelope tracking, a feature that helps mobile phones save battery power while sending and receiving wireless signals, The alleged patent violation stemmed not from Intel chips but yet another Apple supplier - Qorvo Inc - whose chip was only present in older phones with Intel modems..