IN BRIEF

Paladin Energy's Kayelekera uranium mine in Malawi has returned to full production after an industrial dispute. Local workers walked off the job demanding a 66% pay rise following a recent 50% devaluation of the Malawi Kwacha. For investors, a resumed mine reduces short‑term operational risk and helps restore supply continuity for the company’s uranium operations.

Workers at the Kayelekera mine demanded an immediate 66% pay rise in response to the 50% devaluation of Malawi’s currency, the Kwacha. The devaluation effectively cut local purchasing power, prompting the pay demand and the subsequent industrial action that briefly halted production.

HP reportedly planned to cut up to 30,000 jobs — roughly 9% of its workforce — to offset falling demand for personal computers as more people use smartphones and tablets. Analysts estimate a payroll reduction of that size could save HP more than US$1 billion annually, and the cuts could be announced alongside the company’s quarterly earnings.

According to reports, reducing payroll by up to 30,000 roles could lower HP’s annual costs by over US$1 billion, which may improve short‑term margins. At the same time, the cuts reflect structural weakness in PC demand — an important strategic signal for investors watching HP’s transition amid growing mobile device use.

Laos‑focused miner PanAust upgraded its flagship Phu Kham mine to increase copper and gold recovery rates. As a result, the company expects copper output in 2013 to rise to between 65,000 and 70,000 tonnes. Gold and silver production are also expected to increase, although PanAust did not provide specific targets for those metals.

Ten Network has entered an exclusivity agreement with a bidder as it negotiates the sale of its outdoor advertising business, Eye Corp. Local rivals JCDecaux and APN were reported to have shown interest earlier. Some analysts have valued Eye Corp at between US$100 million and US$125 million.

Japan upgraded its economic outlook for the first time in nine months after reporting stronger‑than‑expected growth driven by higher exports and consumer spending — GDP grew by 1% in the three months to March. The monthly report also warned that uncertainty over Europe’s financial situation, a strong yen and rising oil prices could hamper Japan’s recovery.

Oil prices fell amid concerns that Europe’s debt crisis could weaken demand, sending futures lower for a third straight week. In New York, West Texas Intermediate (WTI) futures slid about 1%, closing at their lowest level in six months, while London prices hit their lowest this year. For investors, such declines reflect demand worries and can have short‑term implications for energy company revenues and broader market sentiment.