Ousted workers may lose bonus as Goldman Sachs cuts 10% of staff
October 24, 2008
The 6,000 UK staff of Goldman Sachs were last night bracing themselves for a
cull of one in ten of their number as the City's most revered investment
bank sheds jobs to cut costs.
EU widens antitrust probe into BHP Billiton's proposed acquisition of Rio Tinto
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 concerns about higher prices and reduced choice for EU customers of the mining concerns.
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.
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.
Rio Tinto sells WA asset for $564m
Rio Tinto Ltd has completed the sale of its Kintyre uranium project in Western Australia's East Pilbara region for $US495 million ($A564 million).
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...
Japan gives 11-day ultimatum to BHP...
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...
Miners' merger mania
Few expect the platinum producer Lonmin to escape the clutches of Xstrata, which last week stormed through its front door with a hostile £5bn takeover bid.
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 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.
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.
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 higher despite fear of...
The pressure on Rio Tinto to scrap big mining projects increased yesterday as
Moody’s, the ratings agency, gave warning that the group’s income next year
would be squeezed...
Chinalco May Snag More Of Rio Tinto
Before increasing its stake in the miner, the Chinese aluminum maker is waiting to test market conditions.
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 upbeat on commodities as...
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...
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 to cut 14,000 jobs to cope with slump
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 mining company said Wednesday.
Road Looks Smoother For BHP's Rio Bid
Australia's competition regulator greenlighted the takeover proposal, which could signal that the European Commission may decide the same way, putting pressure on the target firm.
Rio Tinto to invest $2.15 bln in...
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
Rio Tinto to invest 2.15 bln dlrs in...
AFP - Anglo-Australian mining giant Rio Tinto announced Wednesday that it will invest 2.15 billion US dollars in a major expansion of its iron ore mine in Corumba, Brazil.
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.
Rio Tinto to fight for Simandou project
Rio Tinto Ltd has vowed to fight for its rights to the $6.46 billion Simandou iron ore project in Guinea.
EU widens Billiton-Rio Tinto probe
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...