Coal consumption had been cut by 73% since 2006, Dong Energy said, and its power stations would replace the fossil fuel with sustainable biomass.
DEUTSCHE BANK Mining News
It has decided not to finance any greenfield thermal coal mining or coal-fired plants and it will also reduce its existing exposure to the sector.
Rudi Fronk and Jim Anthony, co-founders of Seabridge Gold, discuss Deutsche Bank's latest movements and what a bailout could look like.
The German banking giant is the last lender to pull back from the embattled coal sector.
Thursday will be the last time traders at four banks agree by phone twice-daily prices for bullion.
The 18 cases will be sent to U.S. District Judge Valerie Caproni in Manhattan, who has already been overseeing a putative class-action against the five banks that make up the fix.
The three banks have been accused of fixing the price of trillions of dollars worth of silver.
The company’s new board is made up of compliance officers at the four banks that currently operate the gold prices setting process.
The move could hasten the end of the 95-year-old bullion benchmark.
With a capacity of 1,500 tonnes.
The bank says it won't finance a project whose effects are still being debated.
Resignation leaves four banks to oversee the gold fix and only two to determine global silver prices.
Barclays' share price suffers.
Europe’s biggest investment bank by revenue will no longer participate in the price-setting process for gold and silver, or fixing.
Final goal is to store half the national reserves of the precious metal, or about 3,400 tons, in its own vaults by 2020.
Michelin’s domestic labour reorganisation program, (announced on June 17) will save the company between 100 and 150 million euros a year, according to Deutsche Bank research analyst Gaetan Toulemonde….more at Tire Review Online