Rio Tinto says China's steel production will grow modestly until 2030 but demand will increase in other emerging markets in Southeast Asia and India, the Financial Times reports.» Read More
Jonathan Barratt, Founder, Barratt's Bulletin says Rio Tinto remains a takeover target but he thinks new CEO Sam Walsh can turn the company around.
Paul Renken, senior geologist at VSA Capital, explains why investment banks are upping their price targets on Rio Tinto after the new CEO announcement.
European shares closed higher on Thursday afternoon after stronger-than-expected U.S. jobs data.
Some of the names on the move ahead of the open.
Asian shares ended mostly lower on Thursday, paring initial gains as investors cashed in their chips following recent rallies with demand also capped by caution ahead of Chinese data on Friday.
Rio Tinto, the mining giant, was in turmoil Thursday morning after the abrupt departure of its chief executive and the announcement of a $14 billion writedown.
Global miner Rio Tinto has announced the surprise resignation of its chief executive after taking a $14 billion charge in connection with Tom Albanese's two most significant acquisitions, Mozambican coal and aluminium.
European shares ended mostly flat on Wednesday, bouncing off intraday lows as many investors used the early dip to boost their exposure to equities.
Asian shares ended in the red on Wednesday as cautious investors waited for crucial economic data from China later this week, while the yen's extended gains spurred profit taking in Japanese equities after their recent rally.
Technology stocks fell to push European shares lower and send Germany's benchmark DAX index to a 2013 low on Tuesday.
Japanese shares surged to multi-year highs on Tuesday on rising expectations that strong political pressure will prompt the Bank of Japan to deliver bold monetary easing measures. Meanwhile, other Asian stock markets struggled as gains were capped on earnings caution.
Paul Renken, senior geologist at VSA Capital, tells CNBC that Rio Tinto figures have surprised on the upside, suggesting some demand for iron ore.
Rio Tinto said on Tuesday its iron ore production beat its own guidance to hit 253 million tons in 2012, as the miner cashes in on resurgent Chinese demand that has driven up prices in recent months.
Asian stocks ended slightly higher on Monday, helped by a 3 percent boost in mainland Chinese shares but trading volume remained light with Japanese financial markets shut for a public holiday.
European equities stalled on Friday, with weak economic data from the United States and concerns about the scope for more stimulus in China giving investors the excuse to lock in profits.
Asian shares ended mixed on Friday as a pick-up in Chinese inflation prompted profit taking, with mainland shares slumping 1.8 percent. But Japan's Nikkei managed to defy broader regional weakness as the yen logged fresh losses.
Asian shares ended higher on Thursday as much stronger-than-expected Chinese trade data magnified positive momentum from global markets overnight, strengthening signs of recovery in the world's second-largest economy.
Asian shares ended mixed on Wednesday after rounds of profit taking from a sharp rally at the start of the new year subsided, while investors waited warily for corporate earnings season to kick off in full force.
UK business leaders, including Virgin Group founder Richard Branson and WPP chief executive Martin Sorrell, warned Prime Minister David Cameron in a letter to the Financial Times on Wednesday that he risks hurting Britain's businesses if he proposes to exit the European Union.
Asian shares fell on Tuesday as investors turned cautious after the new year's rallies, with corporate earnings season for the last quarter of 2012 looming and the European Central Bank's policy meeting due later in the week.