Business Materials and Metals

  • CHICAGO, April 11- Metals company Alcoa Inc on Monday reported a lower quarterly profit, with results hurt by low commodity prices, the strong U.S. dollar and plant closures or divestments, and it also lowered its 2016 outlook for global sales in the aerospace industry. The New York- based company posted a first-quarter net profit of $16 million or 0 cents per share,...

  • TORONTO, April 11- Canada's main stock index rose on Monday as an almost three-week high for gold helped boost gold mining stocks, while a major railway company advanced after it scrapped a takeover bid. The most influential movers on the index included Barrick Gold Corp, which rose 6.5 percent to C $21.04 as gold rallied, and Canadian Pacific Railway Ltd, which...

  • CHICAGO, April 11- Metals company Alcoa Inc on Monday reported a lower quarterly profit, with results hurt by low alumina and aluminum prices, the strong U.S. dollar and plant closures or divestments. The New York- based company posted a first-quarter net profit of $16 million or 0 cents per share, down from $195 million or 15 cents per share a year earlier.

  • STRASBOURG, April 11- France's economy minister on Monday sought to pressure the European Commission into raising import tariffs to similar levels as the United States to help Europe's ailing steel industry. France, Britain and Germany are among the countries that have already asked the Commission to help the steel industry, which is suffering from an import...

  • DUISBURG, Germany, April 11- Half of Germany's steelworkers poured onto the country's streets on Monday in protest against the dumping of Chinese steel, EU climate regulations and industry consolidation they fear will cost them their jobs. The size of the demonstrations, organised by powerful trade union IG Metall and supported by Economy Minister Sigmar...

  • KUWAIT, April 11- Thousands of workers at state-owned oil, gas and petrochemical companies in Kuwait will stage a strike from Sunday in protest at a government plan to cut some of their benefits and wages, the president of the oil and gas union said on Monday. "The union finds itself obliged to take the difficult decision to escalate with this announcement of a...

  • LONDON, April 11- British business minister Sajid Javid said on Monday the government would consider co-investing on commercial terms to secure the sale of Tata's UK steelmaking assets. Tata, one of the world's biggest steelmakers, said on March 30 it was putting its British assets up for sale, citing a global oversupply of steel, high costs, weak domestic demand...

  • LONDON, April 11- Business minister Sajid Javid said on Monday he was unable to promise that there would be no further job losses in the British steel industry, but that the government was doing all it could to protect workers. Tata, one of the world's biggest steelmakers, said on March 30 it was putting its British assets up for sale, citing a global oversupply of...

  • DUISBURG, Germany, April 11- Tens of thousands of German steelworkers took to the streets on Monday, demanding more action against the dumping of cheap Chinese imports and greater job protection amid uncertainty over the future of Thyssenkrupp's steel business. More than 45,000 took part in protests throughout Germany, IG Metall said. Social Democrat Economy...

  • SETTLEMENT ALSO RELATES TO GOLDMAN'S CONDUCT IN PACKAGING SECURITIZATION, MARKETING-DOJ.

  • *Greybull deal saves more than 4,400 jobs in UK, 400 in France. As Tata formally announced the sale of its steel assets in Britain, turnaround specialist Greybull Capital LLP said it would buy the Indian company's Long Products Europe division in Scunthorpe, northern England, which employs 4,400. It declined to rule out further purchases of Tata's British steel...

  • DUISBURG, Germany, April 11- German steelworkers took to the streets on Monday, demanding more measures against the dumping of cheap Chinese imports and greater job protection amid uncertainty over the future of Thyssenkrupp's steel business. Germany is Europe's biggest steelmaker and 45,000 workers joined rallies across the country, the IG Metall union...

  • *Greybull deal saves more than 4,000 jobs. Greybull said it would buy Tata's Long Products Europe division in Scunthorpe, northern England, which employs 4,400, while the process to secure a buyer to save the Indian steelmaker's other major plant at Port Talbot in Wales also kicked off on Monday. Greybull said it was arranging a 400 million pound investment and...

  • LONDON, April 11- "In copper we trust." Such was the title of the presentation given by Jerry Jiao, vice president at China's Minmetals Group, at last week's CRU-CESCO conference in Chile. The problem for the copper industry executives meeting in Chile last week, however, is not the bright future but the stormy present.

  • TOKYO, April 11- Japan's core machinery orders fell 9.2 percent in February from the previous month, Cabinet Office data showed on Monday, in a sign that business investment remains subdued. That compared with a median estimate for a 12.4 percent decline. In January core orders rose 15.0 percent, inflated by large orders from the steel industry.

  • JOHANNESBURG, April 10- South Africa's Association of Mineworkers and Construction Union said on Sunday it had agreed to take a new wage offer from Sibanye Gold and had called off a strike. AMCU national treasurer Jimmy Gama said the union hoped to sign an agreement with the mining company most probably this week. AMCU led a bruising five-month wage strike in the...

  • LONDON/ BEIJING, April 9- Britain asked China on Saturday to hurry up in tackling overcapacity in its steel industry, hoping to stem the flood of cheap imports into Europe which India's Tata Steel has blamed for its decision to pull out of the United Kingdom, putting 15,000 jobs at risk. Tata put its entire UK business up for sale last month, including its flagship...

  • LONDON, April 9- Britain asked China to tackle over-capacity in its steel industry on Saturday, hoping to stem the flood of cheap imports into Europe which India's Tata Steel said caused it to pull out of the United Kingdom, putting 15,000 jobs at risk. Tata put its entire UK business up for sale last month, including steel works at Port Talbot in south Wales, saying it...

  • April 8- Vertellus Specialties Inc, a U.S. manufacturer of agricultural chemicals such as pyridine, is in talks to cut a deal with its lenders after missing a debt interest payment, according to people familiar with the matter. Weak agricultural markets, combined with overcapacity and increased competition from China, have hit the chemical company, owned by...

  • NEW YORK, April 8- The steep decline and subsequent rebound in the U.S. stock market over the first three months of the year were a boon to U.S. small cap managers, who took advantage of what some considered a short window of low prices to add shares in companies ranging from retailers to steel makers. Towle's fund added seven positions to its portfolio of 35 stocks in...

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