News

The newly forged iron ore-to-copper empire Glencore Xstrata was forced to slash the value of its assets by $8.5bn (£5.4bn) in the first set of results since the merger that created it.

Global commodities boom fuels record profits for BHP Billiton

BHP Billiton, the Anglo Australian mining giant, yesterday catapulted itself into the world's top 10 companies by earnings as the global commodities boom saw it post record profits.

Business Diary: Few reasons to party at Luminar

These are worrying times for shareholders in Luminar, the nightclubs operator, which is working on a recovery plan it hopes will appease the banks that agreed to waive its debt covenants earlier this year. A surprise change of auditor this week added to nervousness about the firm and now it has had to warn investors that they may be targeted by fraudsters. "It has come to our attention that some of our shareholders have received unsolicited phone calls from 'companies' offering to buy their shares for substantially more than current market value," Luminar warns. Don't take the bait, it warns – it's a classic boiler-room scam.

The Week Ahead: Glencore prepares to test market confidence

No matter how volatile the markets may have been, dropping a third of its share price in just three months after floating has not been seen as a success for Glencore International. The controversial commodities trader came to market in May in what was London's largest ever IPO before being fast-tracked into the FTSE 100, yet has only once finished a session above its 530p float price.

Fabergé: New business from an old shell

The famous name has been excavated by a mining magnate and given a fresh lease on its luxury life. Laura Chesters reports

BHP Billiton in new £7.5bn takeover

BHP billiton is buying Petrohawk Energy for $12.1bn (£7.5bn) cash – the mining giant's second major investment in US shale gas so far this year.

LSE humbled as it is forced to abandon TMX merger

Canadian borse fails to win over investors for deal with London Stock Exchange

Market Report: International hopes help WH Smith to advance

It may be a British institution, but WH Smith was being praised for its potential beyond these shores last night as the high-street stalwart charged up the mid-tier index.

BHP's Jordaan is IFM's new chief

International Ferro Metals has appointed former BHP Billiton manager Christiaan Jordaan as its new chief executive, after it found a replacement for incumbent David Kovarsky earlier than expected.

The Week Ahead: Tesco's new boss to be focus at full-year results

As the new man in charge, Philip Clarke – who took over the reins from Sir Terry Leahy not much more than six weeks ago – will have all eyes on him tomorrow when Tesco announces its full-year results.

Market Report: Fears on advertising outlook push WPP back

As the blue-chip index crept back from a seven-week high, WPP was among those left in the red after fears were raised over the advertising slowdown seen by the broadcasters spreading to the agencies.

BHP in $4.75bn deal to enter US shale gas market

BHP Billiton has placed a big bet on the unconventional gas market by agreeing to purchase shale gas reserves from Chesapeake Energy in a $4.75bn (£2.9bn) deal.

David Prosser: Why the commodity bulls are getting back on their bikes

Outlook: There have been a handful of long-term bull runs for commodities over the past two centuries, with average durations of around 20 years

The Business On: Marius Kloppers, Chief executive, BHP Billiton

Ah, the spy who came in from the cold?

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