angelo american is cutting two-thirds of its entire workforce. the company will also suspend dividend payments for the rest of this year and into 2016. to balance the books it will sell off assets almost half of its 50 mines and merge it's six businesses into three. that will b crisis is fueled in part by the falling prices in china, even diamonds have had a disappointing year. the company hopes by diversifying it can weather a potential down turn. nearly all of these have dropped in price at the same time. the question now is will these measures be enough? >> the company believes that the current environment going forward. >> this is the company's headquarters and inside th inside the mood must be pretty somber. the reorganization is going to be brutal. when they're done they'll be left about a very different company. >> nigerian troops said that a final push to end the six-year fight against boko haram in the north. the attack in the stronghold comes days after 900 hostages were freed in cameroon. al jazeera's ahmad idris repor reports. >> afte

sort of things that have been seen from angelo american for awhile and i think it just puts the spotn the quality of assets within angelo american and, you know, the company talk about radical restructuring to focus on priority one assets and when you look at the portfolios you wonder how many assets angelo american has and the point sits going to be difficult for them to perform across the board so they really only have a few assets which qualifies tier one. >> at what point though do you think that the restructuring efforts even if you say they're hurting in the short-term at what point are they going to bear fruit? 2016? 2017? 2018? because the company also outlining job cuts and they extend well past 2017. so is this a two to three year story? >> definitely. but one thing we must not forget is they are within their portfolio which is a really good business and the current valuation it's just lost in all the other things that are going on within anglo american. i know it's obviously the priority one asset. but if they manage to survive they have quite a lot of debt on their balanc

angelo american which is slicing it's staff by 55,000 hooking at some steep losses here. 6.3%. let's look at oil stocks. given that we saw a bit of reprieve when it comes to oil pricing in the last 24 hours or so this isn't translating through to the european session. it's a mixed picture out there jeff. >> so goes the oil price. so goes the markets at the moment. it seems to be what we're getting in the early part of the european session here because there is a modest recovery taking place in the brent price after we saw weakness on the back initially of the announcement of saudi arabia's budgets. unveiled plans to cut spending and reform it's economy after seeing the budge deficit jump to $98 billion this year. the first official budget saw revenues miss expectations by 15%. while spending out paced forecasts as oil earnings plummeted. this comes as brent hovers near these 11 year lows. jackie has more. >> crude oil prices breaking their recent win streak to settle more than 3% lower today. wti finished at $36.81. brent continues to trade under wti. that's a phenomenon to wat

angelo american will cut 85,000 workers worldwide does not bode well for economies under a strain. >> most important thing that we want to see is for the company to save jobs. not to cut jobs any more. as we speak right now, the unemployment rate in south africa is sitting at 9%. >> i expect next year's mining industry to be even more critical condition, and with that comes the pressure of how labor is going to respond, how policy makers are going to respond. if we thought it was hard, i think 2016 mining is going to be impossible. >> prices are showing no sign of recovery from their lowest level in six years. as angelo american is viewed as unprofitable operations, and it is feared that the mining industry will only suffer further. >> signing a peace deal with farc rebels will end 50 years of civil war. some of the fighters in the east of the country are already getting ready for a new life given exclusive access to a rebel camp. >> marc fighters exercising at dawn their rifles in hand. but those gathered in this camp are not here to practice how to fight. >> it's time to start an ed

you saw that awful angelo-american chart. right now we're moving up here. we're only down 4 points.e could go positive in the next couple of minutes. >> first up this morning, republican frontrunner donald trump once again getting headlines after calling for a ban on muslims entering the u.s. this comes as many in both tech and government now confront the question about how to handle terrorism and social media. senator feinstein could introduce a bill requiring social media platforms to alert federal officials about terrorist activity. google chairman said we should target social accounts for terrorist groups like the islamic state and remove videos before they spread. another thing he talks about the difficulty of rying to shut down isis accounts or pro-isis accounts before new ones pop up. in some cases they pop up hundreds of times and even celebrate the hundredth new account by sending pictures of birthday cakes. >> i feel that some of the voices are becoming unhinged here. we mentioned trump, this idea for certain religions entering the country. he also said about calling up bi

. >> metal prices are showing no sign of recovery from their lowest level in six years, as angelo americans review its upprofittable operations, there are concerns that the local mining industry will only suffer further. >> still to come here on al jazeera for you. kenyans set up with shady business call on the government to end corruption. >>> myanmar eropes its stock exchange but investors can't hit the floor just yet. stay with us and find out why. >>> at least 37 died in a taliban attack an kandahar airport in afghanistan. the defense ministry said one gunman is still hold up inside the compound. >>> hundreds of rebel fighters and their families have started to leave homs in syria as part of a ceasefire deal negotiated between the opposition and the government. >>> french police identified the third gunman who took part in the attack on the bataclan hall in paris last month. he was a 23-year-old from strasburg. >>> the united nations corruption is a global problem which costs trillions of dollars every year. wednesday is anti corruption day to highlight the issue. >> $1 trillion is paid

plans by angelo american to make 85,000 workers redundan redone an ant--redone can't. >> we have been caught by surprise. we want to save jobs. we don't want to lose jobs any more. the unemployment in south africa is sitting at 25%. >> some say after 3,000 mining jobs is at risk. >> i expect next year's mining industry to be in more critical position. and if we thought it was hard, this will be have difficult. >> as angelo america reviews it's unprofitable operation, it's concerns that the local mining industry will only suffer further. >> still to come, the coca-cola add that is causing a fizz in mexico. >>> and in sports struggling jose mourinho battles for a place in the knock out stages. we'll see if they manage to keep their cool against porto. >> well back. a coca-cola advertisement was forced to pull a campaign after a rights group complained that it was racist. >> coca-cola meant for this to be their latest heart-warming christmas ad. white hipsters putting up a tree and handing out coats to the indigenous people. the company said it was meant to inspire unity and joy, and ins

we have angelo -- anglo american. glencore. real buying in the sector. >> we're seeing a rally across the board -- not really. nikkei 225 off by just a tad. that's yesterday's close because japanese markets are actually closed for the emperor's birthday today but where we are seeing a rally is in the hang seng and s&p asx 200. actually the australian market has been pushing higher for six days in a row. energy shares up 3.3%. now for the first time in four years yesterday we saw wti closing above brent crude. now that's reversed some what. they're pretty much at par. brent crude also higher by 0.9%. royal dutche shell with a break even price for its purchase of bg. the company also expects the combination to be cash flow in 2016 with $50 barrel or higher. they also announced a cut to spending. the oil firm share price slid to over 30% so far this year but today many of the oil and gas stocks and the commodity stocks are obviously higher. what i pointed out before, wti closing above brent for the first time in four years. that's