The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Newly formed mining and metals group South32 is open to acquisitions once it breaks from BHP Billiton, its CEO-elect Graham Kerr said on Wednesday.
BHP shareholders are expected to approve the spin-off, which includes some of the global miner's smaller assets, at meetings in Perth and London on Wednesday, paving the way toward a listing on May 18.
Named after the 32nd parallel south line of latitude that links its business centres in Perth and Johannesburg, South32 will produce alumina, aluminium, coal, manganese, nickel, silver, lead and zinc from mines and smelters in Australia, Brazil, Colombia, South Africa and Mozambique.
Those assets, long overshadowed by BHP's much larger iron ore, petroleum, copper and coal businesses, generated underlying earnings of $446 million on revenue of $8.3 billion last year.
The new company will have the added advantage of carrying just $674 million in net debt.
"We're not over-geared, we're not over-leveraged. We don't have that problem that a lot of our peers will in the industry," Kerr told reporters ahead of the vote.
He said the company would consider acquisitions of any commodity, other than gold, where South32 could add value.
"If we do go into the M&A space it will be opportunistic and it will be only where we see value, and we'd have to sell that story very strongly to our shareholders."
He played down the prospects of chasing any of the coal assets that companies such as Vale and Anglo American are trying to sell right now.
"From our perspective, it's not the most value-accretive way we can see ourselves using our people, time or resources at the moment."
Forecasts on how much South32 will be valued at have dropped to between $5 billion and $10 billion since the spin-off was announced last year, as prices for its main products, including aluminium and manganese, have slumped.
South32 will be the world's top manganese producer and Kerr said if the company thought it could boost prices by cutting output it would consider doing so - in contrast to BHP's policy of producing at full tilt as long as it is profitable.