Standard Bank CEO Sim Tshabalala, CFO Daehnke to Retire in 2027
While Africa's biggest bank by assets raised the retirement age for its executives to 63 from 60, that won't apply to Tshabalala and Daehnke, the lender said in an emailed statement on Thursday.
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Yahoo
43 minutes ago
- Yahoo
Montage Gold Reports Fatal Accident at Its Koné Project in Côte d'Ivoire
ABIDJAN, Côte d'Ivoire, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Montage Gold Corp. ('Montage' or the 'Company') (TSX: MAU, OTCQX: MAUTF) is saddened to report that a Montage colleague passed away yesterday as a result of injuries sustained in an incident that occurred during earthworks activities at the Company's Koné project in Côte d'Ivoire. The health, safety and welfare of our colleagues is our top priority and we are deeply saddened by this news. We extend our sincere sympathies and support to his family, colleagues and friends. A comprehensive internal investigation into the incident is underway, specifically as it occurred over a kilometre away from the employee's assigned work location. Montage will work closely with the relevant local authorities. Construction activities were paused on August 14, 2025, and are scheduled to resume on August 15, 2025. ABOUT MONTAGE GOLD Montage Gold Corp. (TSX: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné project, located in Côte d'Ivoire, at the forefront. Based on the Updated Feasibility Study published in 2024 (the 'UFS'), the Koné project has an estimated 16-year mine life and sizeable annual production of +300koz of gold over the first 8 years and is expected to enter production in Q2-2027. QUALIFIED PERSONS STATEMENTThe scientific and technical contents of this press release have been verified and approved by Mr. Peder Olsen, a Qualified Person pursuant to NI 43-101. Mr. Olsen, President and Chief Development Officer of Montage, is a registered Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM). CONTACT INFORMATION For Investor Relations Inquiries:Jake CainStrategy & Investor Relations Managerjcain@ For Media Inquiries:John VincicOakstrom Advisorsjohn@ +1-647-402-6375 For Regulatory Inquiries:Kathy LoveCorporate Secretary klove@ FORWARD-LOOKING STATEMENTS This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, 'Forward-looking Statements'). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as 'will', 'intends', 'proposed' and 'expects' or similar expressions are intended to identify Forward-looking Statements. Forward-looking Statements in this press release include statements related to the Company's objectives of achieving first gold pour in the second quarter of 2027; the Company's mineral reserve and resource estimates; the timing and amount of future production from the Koné Gold Project; anticipated mining and processing methods of the Koné Gold Project; anticipated mine life of the Koné Gold Project. Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There is no assurance that any economic satellite deposits will be discovered, and if discovered ever developed or mined. There can be no assurance that any Forward-looking Statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies such as the Mineral Reserve Estimate and the UFS, and in delineating new mineral reserve and resource estimates, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates being lower than expected, unexpected adverse changes to geotechnical or hydrogeological considerations, or expectations in that regard not being met, unexpected failures of plant, equipment or processes (including construction equipment), delays in or increased costs for the delivery of construction equipment and services, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, environmental risks inherent in the Côte d'Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, delays in or failure to receive access agreements or amended permits, and other risk factors set forth in the Company's 2024 Annual Information form available at under the heading 'Risk Factors'. The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
CBS News
an hour ago
- CBS News
Social Security is turning 90 — and its problems are only mounting with age
Social Security celebrates its 90th anniversary today, marking a major milestone for the program that supplies monthly benefit checks to almost 70 million senior citizens, disabled people and surviving family members of deceased workers. When President Franklin D. Roosevelt signed the Social Security Act into law on Aug. 14, 1935, he guaranteed for the first time that workers could rely on continuing income in retirement after they turned 65. As it enters its 10th decade, the program is only growing in importance amid an aging population, with a record number of Americans now collecting benefits. In the next 10 years, Social Security is expected to swell by an additional 12 million recipients, according to the AARP. But even as it grows in importance, the program is also facing mounting problems and growing questions over its long term viability. While many policy experts believe the program should be expanded, its outgoings now far outpace its income. Some Democratic lawmakers are also questioning the agency's ability to serve retirees after the Trump administration earlier this year made cuts to its workforce in what the Center on Budget and Policy Priorities referred to as the "largest staffing cut in SSA's history." As these challenges have mounted, faith in the program has deteriorated, even as three-quarters of Americans say they believe Social Security is "one of the most important programs" the government offers, according to a recent AARP survey. Confidence in the future of Social Security has declined by 7% in the last five years, from 43% in 2020 to 36% in 2025, it found. Asked about these concerns, the Social Security Administration pointed to a Fox News interview Thursday with its commissioner, Frank Bisignano, who said he's optimistic about the program's future and that the agency is working on improving its operations. The White House also took issue with the criticisms, with spokeswoman Liz Huston telling CBS News that the administration is improving customer service and "preventing illegal aliens from accessing benefits. "President Trump has made Social Security great again," she said. A major headwind facing Social Security may not be new, but it is fast approaching: The possible insolvency of its trust funds as the gap between its revenue and expenditure grows. For instance, in 2024, the program cost $1.49 billion, but total income was $1.42 billion, according to the 2025 Social Security Board of Trustees' report. Because of that trend — which is expected to continue given the aging population — the Social Security trust funds are forecast to be depleted by 2034, one year sooner than previously forecast, according to the most recent trustees' report. This so-called "go-broke" date has been a major source of stress for Americans who worry that there won't be enough money left by the time they reach retirement age. While some workers believe that the trust funds' insolvency means Social Security will cease making payments after that date, that is incorrect. Because the program is funded through payroll taxes, Social Security has a constant stream of income — although without the trust funds' financial cushion, the program will face a shortfall, leading to a cut in benefits. Without a fix, monthly benefits could be cut by as much as 23%, the Social Security Board of Trustees warned in its 2025 annual report. But there are options for shoring up the trust funds. For one, there's a current cap on the amount of income subject to Social Security taxes, which stands at $176,100 in 2025, meaning any earnings above that amount are exempt from the payroll tax. One remedy would be to lift the cap on payroll taxes, an option that some Democratic lawmakers prefer. Another idea, floated by some Republican lawmakers, is to raise the retirement age, which currently stands at 67 for people born after 1960. President Trump has vowed not to cut Social Security, noting in a "Meet the Press" interview in December that "we're not touching Social Security, other than we might make it more efficient." Nonetheless, concerns have mounted over the Trump administration's changes to the program, including cuts to its staff and the closure of some field offices. During a press call Wednesday organized by advocacy groups, Sen. Bernie Sanders, an independent from Vermont, claimed Mr. Trump and others in his administration are "working overtime to try to dismantle Social Security." Many Americans also say they're worried about what sort of changes the new administration could make. According to a new survey from NerdWallet, 61% of Americans believe Social Security benefits will be cut under the current administration. The White House, however, contends that Social Security has become more efficient under Mr. Trump's leadership. In a statement released Thursday, the White House claimed that the agency is handling 70% more calls than last year and that it has cut down on wait times with the help of technology. It also said the average wait times for customers at field offices have declined by 23%. "We have taken steps to reduce wait times, enhance security, and make it easier to navigate our programs," SSA commissioner Frank Bisignano wrote in an opinion piece for Fox News on Thursday. "All the while ensuring we pay benefits accurately to those who are eligible to receive them." Mr. Trump on Thursday repeated his promises to protect the program. The program will become "stronger, bigger and better" and is "gonna be around a long time" with Republicans in charge, he added in remarks from the White Associated Press contributed to this report.
Yahoo
an hour ago
- Yahoo
Australian lender ANZ reports third-quarter rise in deposits, loans
(Reuters) -Australia's ANZ Group said on Friday its customer deposits and net loans and advances rose in the third quarter, while credit risk-weighted assets edged higher due to growth in home lending at its domestic retail division. ANZ, Australia's fourth-largest bank in terms of market value, said its common equity tier 1 ratio, a key metric of spare cash, rose by 16 basis points since March to 11.9%. This reflected the effect of higher lending growth in both Australia retail and institutional segments. Mortgage payments in Australia past their due date for 90 or more days rose 4 bps to 88 bps as compared to last year, the banking group said in a limited quarterly trading update, which did not disclose its quarterly cash profit figure. The firm reported a growth of A$19 billion ($12.35 billion) in customer deposits in the quarter. Its net loans and advances grew 2%. ($1 = 1.5389 Australian dollars) Sign in to access your portfolio
