BHP Billiton freezes pay for its executives and management team, as the downturn across the mining sector continues. The Financial Times reports.» Read More
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BHP Billiton is unlikely to increase its $130 billion unsolicited proposal to acquire mining rival Rio Tinto by a Feb. 6 deadline, The Wall Street Journal reported on Monday.
BHP Billiton has brought in more banks to help it find the $70 billion it needs to fund its planned takeover of Rio Tinto, Britain's Sunday Times newspaper reported.
Alcoa said fourth-quarter profit rose 76 percent on restructuring and tax benefits, offsetting lower aluminum prices. Experts weigh in on how to trade the aluminum firm's stock and other metals and mining companies.
Aluminum producer Alcoa said fourth-quarter earnings soared 76 percent, buoyed by the pending sale of its packaging and consumer businesses.
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BHP Billiton is considering submitting an unchanged US$150 billion bid to Rio Tinto's shareholders ahead of the February 6 deadline set by the UK Takeover Panel for BHP to make a formal offer for Rio, the UK's Sunday Times reported at the weekend, without citing sources.
Saying it had strong growth potential on its own, mining company Rio Tinto on Thursday again rejected an unsolicited offer from larger rival BHP Billiton.
Rio Tinto challenged BHP Billiton on Tuesday to make a formal bid to create a mega-mining house or walk away from what could be the second biggest takeover ever.
Private equity firm Blackstone Group on Monday denied speculation that it is planning a counterbid for Rio Tinto with a consortium believed to include China's sovereign wealth fund.
Rio Tinto Chief Executive Tom Albanese said on Friday BHP Billiton's $140 billion takeover proposal to assemble super mining house was now "dead in the water."
China's Baosteel group has no plan to bid for mining giant Rio Tinto and does not have the financial strength for such a bid, official Chinese media quoted Baosteel chairman Xu Lejiang as saying.
European shares gained 1.7 percent on Wednesday, snapping a two-day losing streak as banks and commodity stocks rose and a series of U.S. data releases soothed some concerns over the outlook for economic growth.
Top China steelmaker Baosteel is weighing a bid to counter BHP Billiton's $125 billion takeover offer for Rio Tinto, Baosteel Chairman Xu Lejiang told a Chinese business newspaper.
BHP Billiton is confident its proposed merger with rival Rio Tinto will not be derailed by big customers, such as China, who fear a merged mining giant would dictate metals prices.
Apple CEO Steve Jobs, the man behind the popular iPod, is the world's most powerful businessman, according to Fortune Magazine's list of the 25 most influential executives.
European shares ended down on Monday as fresh credit concerns hit banking shares, while technology stocks rallied as investors sought alternatives to the financial sector.
Rio Tinto will spend $2.4 billion on new mines, raise its dividend and generate billions of dollars from asset sales as it seeks to fend off a $120 billion takeover proposal from larger rival BHP Billiton.
BHP Billiton's proposed takeover of Rio Tinto will likely not affect several billion dollars' worth of planned aluminum investment that Rio inherited when it took over Alcan this year, analysts say.
China's new sovereign wealth fund denied on Monday it may team up with local steel makers to bid $200 billion for Rio Tinto, blocking a rival offer by BHP Billiton.