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Cape Town - A roundup of Tuesday's top economic and finance reads on Fin24.
Engineering body calls emergency meeting over CEO’s comments about women
The South African Institution of Civil Engineering (SAICE) will hold an emergency board meeting on Wednesday to discuss CEO Manglin Pillay’s widely criticised comments about women.
SAICE said in a statement it was aware of the current controversy caused by Pillay after he penned a column in the July Civil Engineering magazine questioning whether South Africa should be investing so heavily into attracting females into STEM as evidence showed women are "predisposed" to caring and people-orientated careers.
Amcu warns Implats: Gloves will be off should job cut talks fail
The Association of Mineworkers and Construction Union (Amcu) warned on Tuesday that should consultation fail, it would embark on industrial action at Impala Platinum [JSE:IMP] over looming job losses.
Implats will need to consult with trade unions as per section 189 of the Labour Relations Act (LRA) and the Department of Mineral Resources according to mining legislation, before going ahead with the plan to cut 13 000 jobs in the next two years.
Even more bling beneath the Earth's surface – and scientists think they know why
Scientists have found a possible reason why a cache of "super-deep" blue diamonds – like the famous Hope diamond – originate up to four times deeper in the Earth than other types of diamonds.
These diamonds, considered rare on the Earth's surface, can be found a whopping 660 – 750km beneath it.
Mining firms set to spend $11bn in search of the next jackpot
Miners and investors are poring over satellite images, tracking drilling rigs and quizzing company executives for clues on whether the sector’s heavyweights are close to a new jackpot discovery.
It’s part of a broader global push across the industry that’s driving a revival in exploration spending on key metals, forecast to top $11bn after hitting a low of about $9bn in 2016, according to Melbourne-based MinEx Consulting.
Facebook asks big banks to share customer details
Facebook has asked major US banks to share customer data to allow it to develop new services on the social network's Messenger texting platform, a banking source told AFP on Monday.
Facebook had discussions with Chase, JPMorgan, Citibank, and Wells Fargo several months ago, said the source, who asked to remain anonymous.
Facebook, which has faced intense criticism for sharing user data with many app developers, was interested in information including bank card transactions, checking account balances, and where purchases were made, according to the source.
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