What we're reading 'round the Web.
Fire sale at Europe’s banks European banks are selling assets at a rate not seen 2008, with Asia among the most interested global buyers, according to Dealogic.
Divestments by European banks have reached $25.3-billion (U.S.) in 2012 year-to-date, with British banks the most active sellers at 27 deals worth $4.8-billion so far this year. Comparatively, the same period in 2008 saw divestments by European banks at almost $40-billion as the financial crisis took its toll.
Baja Mining’s communication breakdown Former Baja director Wolf Seidler says an “ unsatisfactory information flow" from management to the directors led him to walk away from the company this week.
He says the lack of communication by chief executive John Greenslade has resulted in a board that has to go digging for information and is unable to properly function.
Credit Suisse has good news and bad news The good news is that it managed to eke out a small first-quarter profit despite taking on a 1.5 billion Swiss franc ($1.6-billion U.S.) charge on its debt.
The bad news is that it’s down from 1.13 billion this time last year, a 96 per cent drop.
Magna facing proxy battle over real estate deal A leading investor in Magna is recommending that shareholders exercise a protest vote against Frank Stronach as a director due to his spotty board attendance record and real estate deals in which the company realized a loss.
War for talent hits the mining industry Recruiter Bruno Rizzuto is on a global mission to find workers for the latest mining boom, as the “ lost generation” of geologists, engineers and miners becomes painfully apparent.
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