Briefs
Rate static
The jobless rate has remained at 5.4 per cent for the second month, as the economy lost 9800 full-time jobs in January but added 20,200 part-time positions, taking the net gain to 10,400. Analysts said that fiscal tightening, a sluggish economy and the strong dollar meant that the unemployment rate was still expected to track upwards through the
year.
BANKING
RBS fined
The Royal Bank of Scotland will pay fines totalling $US612 million ($A596 million) to US and British regulators to settle allegations of Libor interest rate rigging. RBS, which is 81 per cent owned by the British government after being bailed out during the financial crisis, is the third bank to admit its part in the Libor affair after Barclays and UBS.
CONSTRUCTION
Contract win
Leighton subsidiary John Holland has won a $186 million contract extension for work on an iron ore port being built for Rio Tinto's iron ore operations. John Holland is building the Cape Lambert Port B wharf in the Western Australia's Pilbara region, and will extend the wharf to include an additional two berths.
DEALS
GPG sale
Guinness Peat Group, the investment firm liquidating its portfolio, has sold out of aluminium fabrication group Capral for about $40.4 million. GPG has been selling assets in a plan to return capital to shareholders, and aims to rebrand itself as its biggest asset, British threadmaker Coats.
Frequently Asked Questions about this Article…
The jobless rate remained at 5.4% for a second month. In January the economy lost about 9,800 full‑time jobs but added roughly 20,200 part‑time positions, producing a net gain of about 10,400 jobs.
Analysts cited fiscal tightening, a sluggish economy and a strong dollar as reasons the unemployment rate could still trend higher through the year despite the recent net job gain.
RBS agreed to pay fines totalling US$612 million (about A$596 million) to US and British regulators to settle allegations of Libor interest‑rate rigging.
The article reports RBS is 81% owned by the British government after being bailed out during the financial crisis; that ownership stake reflects the bank's recapitalisation following its bailout.
According to the article, Barclays and UBS are the other banks that have admitted their part in the Libor affair.
Leighton subsidiary John Holland won a A$186 million contract extension to work on the Cape Lambert Port B wharf in Western Australia’s Pilbara, extending the wharf to include two additional berths for Rio Tinto’s iron ore operations.
GPG sold out of aluminium fabrication group Capral for about A$40.4 million as part of its asset sales program.
GPG is liquidating its portfolio to return capital to shareholders. The firm aims to rebrand itself around its biggest remaining asset, British threadmaker Coats.
Call 1300 880 160
Start a chat
Schedule a call
