Next Tycoon: Hong Kong’s Sonia Cheng Opens New World Hotels For The Family Empire

Sonia Cheng grew up in New World hotels. Now she’s opening new ones for the family empire as her
Rosewood Hotel Group keeps expanding.

Barrick Gold says it will start Tanzania talks next week as earnings beat estimates

Barrick Gold Corp, the world’s largest gold miner by production, reported better-than-expected second-quarter earnings on Wednesday and said it would begin discussions with the government of Tanzania next week about an export ban.

Toronto-based Barrick said adjusted net earnings rose to $261 million, or 22 cents a share, from $158 million, or 14 cents a share, in the year-ago period on the back of lower mining costs and higher gold and copper sales volumes.

Analysts, on average, had expected an adjusted profit of 18 cents per share, according to Thomson Reuters I/B/E/S.

Tanzania introduced an export ban on concentrates of gold and copper ore in March. This has badly stung Acacia Mining , which is majority owned by Barrick.

Acacia operations affected by the ban account for about 6 per cent of Barrick’s 2017 gold production forecast. Even so, Barrick left unchanged its 2017 gold production and cost forecast.

Net earnings for the quarter ended June 30 surged to $1.08 billion, or 93 cents a share, from $138 million, or 12 cents a share, in the year-ago period. This reflected gains related to the sales of stakes in its Veladero gold mine in Argentina and a project in Chile, Barrick said.

© Thomson Reuters 2017

PayPal beats estimates, raises 2017 forecasts

(Reuters) – PayPal Holdings Inc reported a better-than-expected quarterly profit as the payment processor’s growing strategic partnerships helped boost payment volumes.

Bundy follower gets 68 years for role in armed Nevada standoff

(Reuters) – One of two men convicted in the first of several trials stemming from a 2014 standoff led by renegade rancher Cliven Bundy against federal authorities in Nevada was sentenced on Wednesday to 68 years in prison for his role in the armed confrontation.

Goldcorp posts quarterly profit as costs fall, CFO set to leave

Canadian gold producer Goldcorp Inc reported a quarterly profit on Wednesday, helped by lower costs.

The world’s fourth-biggest gold producer by market value reported net earnings of $135 million, or 16 cents per share, in the second quarter ended June 30.

The company posted a loss of $78 million, or 9 cents per share, a year earlier when production slumped due to a maintenance shutdown and slow restart at its biggest mine, Penasquito, in Mexico.

Goldcorp also said Chief Financial Officer Russell Ball would step down.

© Thomson Reuters 2017

Medium acquires Talkshow Industries, with CEO Michael Sippey becoming Medium’s head of product

 Medium has a new head of product, while the startup behind the defunct texting app Talkshow appears to be done for good. Talkshow Industries was led by Michael Sippey, who’d spent two years as vice president of product at Twitter. The company’s first product was the Talkshow app, which allowed you to follow other users’ text message conversations. The app was shut down at the… Read More