U.S. coal miner Cloud Peak Energy, a unit of Rio Tinto Plc, priced shares in its initial public offering below expectations on concerns the flotation was designed to help its parent's balance sheet rather than fund its own growth.
The chance of BHP Billiton making another attempt to take over rival Rio Tinto soon after a bid ban expires later this month is low, analysts said on Tuesday.
Miner BHP Billiton is considering more joint ventures like its 50-50 iron ore deal with Rio Tinto as it seeks to increase production while keeping costs under control.
Chinese authorities say the arrests of numerous business executives are part of an anticorruption campaign. But analysts say they're the outgrowth of power struggles within the Communist Party to weaken rivals and their corporate supporters.
Rio Tinto, the world's second-largest miner, reported a 54 percent drop in first-half earnings on Thursday, its biggest half-year slump on record, as aluminium prices and demand collapsed.
Thursday, 16 Jul 2009 | Source: The New York Times
China stepped up its campaign against the Anglo-Australian mining giant Rio Tinto, saying the company had bribed virtually every one of China’s big steel makers, the New York Times reports.
Wednesday, 15 Jul 2009 | Source: The Associated Press
Annual iron ore price negotiations are "definitely not over," a negotiator for the China Iron and Steel Association told the Caijing financial news organisation, but acknowledged that some mills had agreed to a 33% cut as reported earlier.
Stocks opened lower Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Fed may raise rates at its next meaeting.
Stocks opened lower Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Fed may raise rates at its next meeting.
Futures pointed to a lower open for Wall Street Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Federal Reserve may raise rates at its next meeting.
The dollar is again weak this morning, and commodities are rallying: gold and copper are at new highs, while commodity stocks like Rio Tinto and AK Steel are up 4 to 5 percent.... Read More
Investors should put their cash to work and focus on leading economic indicators, and not lagging indicators such as the unemployment rate, advised Daphne Roth, head of equity research at ABN AMRO Private Banking.... Read More