- US Markets Bracing for Selloff on Dubai Debt Worries
- US Dollar Falls to 14-Year Low Against the Yen
- No Thanksgiving Rest for Retailers in Sales Race
- UK's Darling to Downgrade 2009 Growth Forecast
- US Companies Already Moving on Curbing Emissions
- Fannie Mae to Tighten Lending Standards: Report
- Investing in Good Karma – and Making a Profit
- Retailers Should Believe in Christmas Miracles
- Bankruptcies Jump, Hitting Highest Level in Four Years
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- Kuoni CEO Sees Recovery in Travel Sector
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- Gold Retreats from Record High as Dollar Rebounds
- US Markets Bracing for Selloff On Worries About Dubai's Debt
- China Unveils Carbon Target Ahead of Copenhagen
- UK's Darling to Downgrade 2009 Growth Forecast
- Hyundai-Kia Targets Rapid China Growth in 2010
- No Thanksgiving Rest for Retailers in Sales Race
- Fannie Mae to Tighten Lending Standards: Report
Text Size 
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.
 |
Underlying January-June earnings fell to $2.565 billion from $5.526 billion a year ago, in line with analysts' forecasts for around $2.6 billion.
Rio's [RIO-LN
Loading...
()
] bottom line was hit by writedowns and a $195 million break fee paid to Chinalco for spurning the Chinese state-owned group's planned $19.5 billion tie-up in June. Rio instead launched a rights offer and lined up an iron ore joint venture with rival and former suitor BHP Billiton [BLT-LN
Loading...
()
].
The key challenge for Rio Tinto is to resolve a stalemate with Chinese steel mills on price talks for iron ore, its biggest earner, amid tension with the Chinese government over the arrest of four Rio staff in Shanghai on suspicion of bribery.
- What you need to know.
- Ever wished your cab driver would stop nattering and just get to where you're going? Well that moment is near(er).
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
Data is a real-time snapshot *Data is delayed at least 15 minutes