URS CEO anticipates U.S. manufacturing renaissance

Martin Koffel, head of engineering company URS Corp , feels the United States is poised for a manufacturing renaissance, driven at least in part by demand among the developing world's burgeoning consumer ...

There are two big emerging economic stories coming out of the U.S. There's the American energy boom, which will be driven by drillers tapping American shale. And there's the American manufacturing renaissance, which is supposed to be driven by rising overseas labor costs and falling domestic energy costs (thanks to the energy boom). But so far, there's little evidence to suggest the manufacturing renaissance is underway.

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Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.The article below is a guest contribution by Frank Holmes, CEO and Chief Investment Officer of U.S. Global Investors.

LONDON (Reuters) - Anglo American Plcwill take a $4 billion writedown on its Minas Rio iron ore operation in Brazil after delays and cost overruns forced the mining group to increase expenditure on the project. The company also said on Tuesday that it expects capital expenditure for the project to increase to $8.8 billion. "We are clearly disappointed that the diversity of challenges that our Minas Rio project has faced has contributed to a significant increase in capital expenditure," outgoing Chief Executive Cynthia Carroll said.