Daily Dispatches

South African gold miners union plans to demand wage hikes of 75%

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By Ed Stoddard
Reuters
Thursday, April 23, 2015

JOHANNESBURG, South Africa -- South Africa's National Union of Mineworkers is planning to submit demands to the gold sector next week calling for a 75-percent hike in the basic pay for entry-level workers, according to union sources familiar with the matter.

Sprott said planning unsolicited bid for Canadian metals trusts

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By Scott Deveau
Bloomberg News
Thursday, April 23, 2015

Sprott Asset Management LP is planning to make an unsolicited offer to acquire Central GoldTrust and Silver Bullion Trust valued at $800 million, a person with knowledge of the matter said.

Alasdair Macleod: Gold, the SDR, and BRICS

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10:53a ET Thursday, April 23, 2015

Dear Friend of GATA and Gold:

Lawrence Williams: Does any nation hold the gold it says it does?

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10:39a ET Thursday, April 23, 2015

Dear Friend of GATA and Gold:

Official central bank gold reserve figures as reported to the International Monetary Fund are at best unreliable and at worst active deceptions concealing market interventions, Mineweb's Lawrence Williams acknowledges today.

Deutsche Bank to pay record $2.5 billion to resolve LIBOR rigging

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By Shane Strowmatt and Suzi Ring
Bloomberg News
Thursday, April 23, 2015

Deutsche Bank AG today was ordered to pay a record $2.5 billion fine and fire seven employees to settle U.S. and U.K. investigations into its role in manipulating Libor.

Swiss gold exports show Asia buying more as investors sell bars

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By Eddie van der Walt
Bloomberg News
Thursday, April 23, 2015

China and India helped buy up investors' biggest gold sales in more than a year.

Deutsche Bank sets aside E1.5 billion as Libor settlement looms

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By James Shotter
Financial Times, London
Wednesday, April 22, 2015

Deutsche Bank will take a litigation charge of "approximately E1.5 billion," it said on Wednesday as the German lender nears settlement of claims that it tried to manipulate interbank lending rates.

Chilean regulator seeks new sanctions against Barrick's Pascua-Lama

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From Reuters
Wednesday, April 22, 2015

Chile's environmental regulator SMA said on Wednesday it will seek new sanctions against Barrick Gold Corp's massive Pascua-Lama gold and silver project, complicating the possibility that the suspended mine might resume construction.

Flash crash arrest lays bare regulatory lapses at all levels -- starting with CME Group

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By Dave Michaels, Matthew Leising, and Sam Mamudi
Bloomberg News
Wednesday, April 22, 2015

CME Group Inc. concluded within four days of the 2010 flash crash that algorithmic trading on futures exchanges didn’t exacerbate losses in the market.

Swiss central bank reduces exemptions from negative interest rates

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By Alice Baghdjian and Joshua Franklin
Reuters
Wednesday, April 22, 2015

ZURICH, Switzerland -- The Swiss National Bank said today it was considerably reducing the number of institutions exempt from negative rates on their cash deposits held at the central bank.

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