LIMA, Peru— The clock has run out for an estimated 40,000 illegal gold miners who had until Saturday to legalize their status in a region of southeastern Peru where fortune-seekers have ravaged rainforests and contaminated rivers.» Read More
Strong earnings news is helping push credit market fears back into the shadows this morning, and stocks are poised to spring higher at the opening. Some Asian markets sold off after yesterday's bad day on Wall Street and Europe is mostly lower.
Wall Street is heading for a lower opening as some weak earnings and credit market jitters outweigh positive profit reports from companies like Pepsico and Lockheed-Martin. European markets are moving lower after overnight gains in Tokyo and Hong Kong shares.
Norwegian oil and gas company Norsk Hydro on Tuesday reported a 2% rise in second-quarter net profit, boosted mainly by high aluminum and oil prices, and said its merger with oil giant Statoil is on track.
Transocean, the world's largest offshore driller, said Monday it would buy GlobalSantaFe for about $17 billion in a no-premium deal, adding a fleet of shallow-water drilling rigs to its deepwater equipment.The deal includes stock, as well as pay-out to shareholders of both companies totaling $15 billion.
A swirl of merger activity and blow-away earnings from Dow component Merck are positives for stocks ahead of the opening. European markets are mostly higher and Asia was mixed overnight.
Miner BHP Billiton will not launch a $45 billion bid for U.S. aluminum giant Alcoa, The Australian newspaper reported on Friday, citing unnamed sources.
Stocks are setting a positive tone ahead of the opening even as oil continues its move up. Merger news, real and rumored, dominates the Monday morning headlines.
South Korea's POSCO reported a 55% jump in second-quarter net profit on Monday on high prices and strong demand for steel.
U.S. stocks are ready to rise at the open after equities markets worldwide set records of their own on the back of Wall Street's big rally.
Rio Tinto's chief executive said Friday the $38.1 billion the mining giant is offering to buy Alcan is not too much, citing skyrocketing demand for metals in China and India.
Chemicals maker Huntsman agreed to a $6.5 billion buyout offer from an affiliate of Apollo Management on Thursday, terminating an earlier deal to sell itself at a lower price to a Dutch company.
An explosive bid for Canada's Alcan is giving a positive psychological lift to stocks as traders watch a flood of monthly sales reports from retailers.
Alcan, which is fending off a hostile $28.8 billion bid from U.S. rival Alcoa, is closer to arranging a rival friendly deal and is expected to make an announcement this week, according to sources familiar with the situation.
Private equity corporate raiders who have so far sidestepped the mining sector despite widespread consolidation, could soon reset their sights, global accounting and consulting firm Ernst & Young said on Wednesday.
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BHP Billiton, the world's biggest miner, is in talks with private equity firms to team up for a possible $40 billion bid for U.S. aluminum company Alcoa, London's Times newspaper said on Tuesday.
Central African Mining & Exploration Company (CAMEC) said on Monday it planned to make an all-share bid for Canada's Katanga Mining, valuing the target at 773.1 million pounds ($1.56 billion).
Investors were pleased Friday with Newmont Mining's decision to eliminate forward-sales contracts and a merchant banking unit, sending the giant gold producer's stock up 5.4%.
Alcan the big Canadian aluminum maker, said Friday that a $28.6-billion hostile takeover offer from Alcoa remains inadequate, and that it is pursuing alternatives such as talks with other groups.
Alcoa says it could raise its hostile $28.6 billion offer for Alcan if warranted, but the Canadian aluminum maker has rebuffed requests for talks, a regulatory filing showed on Tuesday.
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