Kill the competition: Dividend ban relaxed ... recession warning ... markets retreat
October 16, 2008
Welcome to today's round-up of business news from The Times: what we're
saying, what they're saying
BHP Billiton abandons bid for Rio Tinto
BHP Billiton Ltd., the world's biggest mining company, abandoned a hostile $68 billion takeover bid for rival Rio Tinto Ltd., blaming the global economic downturn and plunging commodity prices.
Rio Tinto says it is comfortable with debt level
Mining giant Rio Tinto on Wednesday sought to allay concerns about its debt levels a day after bigger rival BHP Billiton abandoned a takeover bid for that reason, sending Rio's share price plummeting.
Australia approves Chinalco's stake...
Australia has approved Aluminum Corp. of China Ltd.'s stake in miner and takeover target Rio Tinto Ltd., Treasurer Wayne Swan said Sunday.
Chinalco May Snag More Of Rio Tinto
Before increasing its stake in the miner, the Chinese aluminum maker is waiting to test market conditions.
Investors furious as BHP pulls plug...
BHP Billiton’s hostile pursuit of Rio Tinto, its mining rival, ended
yesterday, bringing to a halt an extraordinary bonanza for advisers who have
reaped more than £400...
EU widens antitrust probe into BHP...
The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed...
Rio Tinto forced to delay $10bn asset...
Shares in Rio Tinto fell by nearly 10 per cent this morning after the global
mining group said it would delay plans to sell $10 billion ($£5.74 billion)
of assets amid the...
BHP Billiton's bid for Rio Tinto...
The European Union has begun a full investigation into BHP Billiton's proposed
$170billion ($£85.8billion)takeover of Rio Tinto, its rival.
Japan gives 11-day ultimatum to BHP over hostile Rio Tinto takeover
The Japanese Government has ordered BHP Billiton, the world's largest miner, to provide details of its proposed $78 billion ($£48.3 billion) takeover of Rio Tinto within 11 days or face possible criminal prosecution.
EU threat to Rio Tinto takeover
EUROPEAN regulators are this week expected to threaten to stop the proposed takeover of Rio Tinto by BHP Billiton because of the dominance the pair have over the world’s supply of iron ore.
Rio Tinto to cut 14,000 jobs to cope...
Rio Tinto Group will cut 14,000 jobs worldwide and reduce capital investment as part of new measures to reduce its debt amid waning demand for iron ore and other metals, the...
Rio Tinto expects post-Olympic...
China's economy should recover its growth trajectory after two weeks of
self-imposed slowdown during the Olympics, Rio Tinto said yesterday.
Rio Tinto axes 14,000 jobs to reduce...
Rio Tinto, the Anglo-Australian mining giant, today announced that it will cut
14,000 jobs in an attempt to reduce its $39 billion ($26.2 billion) debt
mountain.$
Rio Tinto kicks off savings drive...
Rio Tinto, the Anglo-Australian mining giant, said yesterday that it would cut 14,000 jobs in an attempt to reduce its $39 billion (£26.2 billion) debt mountain.
Rio Tinto ends Asian steel price talks
Rio Tinto has concluded price negotiations with its Asian customers for the steelmaking commodity.
US antitrust regulator clears BHP...
Global mining giant BHP Billiton said Thursday that U.S. antitrust regulators had granted partial approval for its US$170 billion hostile takeover bid for rival Rio Tinto.
Rio Tinto posts record half-year profit
Rio Tinto Ltd., the world's third-largest mining company, said Tuesday that half-year profit more than doubled to a record on strong demand from China for iron ore and other metals.
Rio Tinto upbeat on commodities as profits soar
Rio Tinto, the world's second largest miner, today revealed a 51.8 per cent rise in profit for the first six months of the year due to soaring commodity prices as it reiterated its rejection of BHP Billiton's offer for the group. However, shares in Rio Tinto fell 104p to £50.75 in early trading on concern that high commodity prices will begin decline.
Rio Tinto loses iron ore licence in...
Rio Tinto, the world's second-largest miner, has lost control of one of its
most important iron ore projects.
To the brink of war
The inside story of Rio Tinto's iron ore battle with China. The final round of brinkmanship in the iron ore wars took place on the afternoon of June 23 at a Baosteel office in...
Rio Tinto to double thermal coal by 2015
Rio Tinto plans to double Australian thermal coal output by 2015 as it ramps up production in the Hunter Valley and removes infrastructure constraints.
BHP Bid for Rio Tinto Concerns Australia
Australia's competition regulator raised concerns over the pricing power in the iron-ore market of a combined BHP and Rio Tinto, should BHP's proposed $164 billion takeover of...
Norwegian wealth fund sells stake in...
One of Rio Tinto's largest shareholders has sold its £500 million stake in the
company over concerns about the Grasberg goldmine, which has been called one
of the world's...
Rio Tinto to buy ore from mine in WA
Rio Tinto has signed an agreement to purchase ore from a junior explorer as the mining giant seeks to prevent third parties gaining access to its railway in WA.