Barrick Gold Corporation (USA) (NYSE:ABX)’s shares declined 2.34% to $10.83. The company on Dec. 18 said it would suspend operations at its Lumwana copper mine in Zambia following passage of legislation that raises the royalty rate on open-pit mining operations in the country to 20 percent from 6 percent. The Toronto-based miner had said it would consider such a move if the legislation passed. The new plan, expected to go into effect on Jan. 1, eliminates corporate income tax, but imposes a 20 percent gross royalty on revenue without considering profitability.
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Barrick said major workforce cuts are planned, beginning in March, following the legally required notice period. The transition of the mine to care-and-maintenance status will be completed in the second quarter of 2015, it said.
Verizon Communications Inc.(NYSE:VZ)’s shares fell 0.06% to $47.02. Building on its technology leadership, Verizon on Dec. 18 said it has completed a first office application of 200G technology by successfully deploying Ciena’s WaveLogic coherent optical processors, the latest in optical transceiver technology. The 200G wavelength was provisioned in early December over approximately 200 miles on Verizon’s ultra-long-haul production network between Boston and New York, proving that 200G technology successfully works with existing network infrastructure without impacting live customer traffic carried on the same network and without making costly modifications to existing fiber or network equipment.
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AMR Corporation (NASDAQ:AAL)’s shares gained 1.14% to $50.71. American Airlines has signed a codeshare agreement with Mexico City-based Interjet, adding new service to key destinations in Mexico. The new codeshare arrangement with Interjet will give American Airlines customers seamless connecting service within Mexico. American will codeshare on Interjet flights from Mexico City to five key destinations – Huatulco, Villahermosa, Merida, Tuxtla Gutierrez, and Oaxaca.
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]]>Regions Financial Corporation(NYSE:RF)’s shares increased 2.15% to $10.44. Regions Insurance, an affiliate of Regions Bank (RF), on Dec. 2 announced it has opened a new office in Athens, Georgia. The office was established as a team of five principals and 29 associates joined Regions Insurance, Inc.1 from the former A.I. Insurance Group in Athens. This experienced team will provide captive insurance capabilities to clients throughout the markets Regions Insurance serves. The Athens office will also provide property casualty insurance brokerage services with a focus on companies located in Georgia and throughout the region.
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Marathon Oil Corporation(NYSE:MRO)’s shares gained 3.34% to $27.56 in the last trading session. The company on Dec. 17 announced that the Company anticipates its 2015 capital, investment and exploration budget will be approximately $4.3-4.5 billion, or about 20 percent lower than 2014 levels, excluding its recently disposed Norway business. The 2015 capital program will reflect a significant weighting to the Company’s high return investment opportunities in its U.S. resource plays and lower exploration spending. Assuming this level of investment, total Company annual production growth (excluding Libya) would be in the high single digits in 2015.
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Barrick Gold Corporation (USA) (NYSE:ABX)’s shares gained 3.07% to $11.09. The company on Dec. 18 said it would suspend operations at its Lumwana copper mine in Zambia following passage of legislation that raises the royalty rate on open-pit mining operations in the country to 20 percent from 6 percent. The Toronto-based miner had said it would consider such a move if the legislation passed. The new plan, expected to go into effect on Jan. 1, eliminates corporate income tax, but imposes a 20 percent gross royalty on revenue without considering profitability.
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Barrick said major workforce cuts are planned, beginning in March, following the legally required notice period. The transition of the mine to care-and-maintenance status will be completed in the second quarter of 2015, it said.
About thenextbigtrade.com
thenextbigtrade.com is engaged in providing the most up to date and useful information on Microcap Stocks poised to breakout. thenextbigtrade.com also provides investors with trend analysis, detailed company profiles, and most importantly a much needed “informational edge” which can be used as a tool for making investment decisions. To Receive Instant updates in the inbox, readers are advised to sign up for free at Specialpennystockalert.com.
Disclaimer
The assembled information disseminated by thenextbigtrade.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. thenextbigtrade.com does expect that investors will buy and sell securities based on information assembled and presented in thenextbigtrade.com. PLEASE always do your own due diligence, and consult your financial advisor.
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Additionally, the company on Dec. 4 announced that its Founder and Chairman, Peter Munk, will retire as Chairman of Barrick and will step down from the company’s Board of Directors at the 2014 Annual Meeting of Shareholders (AGM). Mr. Munk founded Barrick in 1983, growing the company from a small junior producer with one mine into the global gold industry leader and a Canadian champion, with operations on five continents.
eBay Inc (NASDAQ:EBAY) shares fell 1% to $52.58. The company on Dec. 4 has appointed John Maeda, a leading graphic designer, computer scientist, artist, educator and former President of the Rhode Island School of Design, as the Chair of the newly-created eBay Inc. Design Advisory Board.
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In this capacity, Maeda will work with product development and design teams across eBay Inc.’s PayPal, eBay Marketplaces and eBay Enterprise business units. He will help evolve the company’s overall design thinking to create products and experiences that drive deep consumer engagement and loyalty. Maeda will report to eBay Inc. President and Chief Executive Officer John Donahoe.
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