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Best mortgage deals of the week

As possibility of multiple interest rate cuts dwindle here's what banks and building societies are offering

Shareholders in miner Bumi back split with Bakrie family

Reuters - UK Focus

LONDON, Dec 17 (Reuters) - Shareholders in Indonesia-focused coal miner Bumi Plc have backed a planned split with the influential Bakrie family that co-founded the company, a key step towards the long-awaited overhaul of the group.

The divorce plan was widely expected to be approved at a shareholder meeting on Tuesday, after co-founder and investor Nat Rothschild struck a last-minute peace deal with management, and lent his support.

In the end, more than 91 percent of those voting supported a key vote on the sale of the Bumi Resources (Jakarta: BUMI.JK - news) subsidiary, paving the way for a split which investors hope can fundamentally revamp a business battered by boardroom rows, allegations of wrongdoing on all sides and a sharp drop in the price of coal.