News Wrap

IN THIS morning’s News Wrap: Scrap executive pay rules, says BHP; commodity prices set to rise with China exports; and ‘boom' workers will resist miners' effort to lift productivity.
News Wrap News Wrap News Wrap News Wrap News Wrap

BHP's Perth HQ

Lou Caruana

Scrap executive pay rules, says BHP

Executive pay disclosure laws should be repealed and replaced with a single figure showing actual pay for each director, BHP Billiton has proposed, as part of changes to simplify company annual reports, according to the Australian Financial Review.

The mining giant says the result will be one set of pay figures, a reform now being adopted in the United Kingdom. Instead, new Gillard government changes requiring the disclosure of actual pay will result in multiple sets of figures for each director.

Commodity prices set to rise with China exports

Strong Chinese export growth has fuelled expectations that commodity prices will continue rising, with December trade data revealing a marked jump in overseas sales, according to the Australian Financial Review.

Metals and energy prices were higher in Asian trading yesterday after China’s General Administration of Customs said exports surged 14.1% year on year in December. The result compares with just 2.9% growth in November and far outpaced the forecast 4.6% increase.

‘Boom' workers will resist miners' effort to lift productivity

A generation of workers unaccustomed to anything other than boom times will inhibit the mining industry's efforts to improve productivity, chief executives have warned, reports The Australian.

Senior executives from the Australian mining industry yesterday backed the latest comments from newly announced Anglo American chief executive Mark Cutifani, who used his maiden address to analysts to flag major changes to the giant's operations.

Most read Archive

loader

Most read Archive