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.

Deripaska plans new $1.5bn float in Hong Kong

Oleg Deripaska is set to launch a $1.5bn (£950m) stock market flotation of his electric power business, despite the recent collapse of several high profile flotations.

Iron ore miners 'have begun price talks with Chinese'

The world's biggest iron ore producers have opened negotiations aimed at setting the annual price of the commodity, according to reports from China yesterday.

New BP chairman to announce 80% rise in profits

BP chairman Carl-Henric Svanberg, will on Tuesday report his first results since taking over the hot seat, and they are set to please investors.

BHP, Rio Tinto face Euro competition inquiry

European competition authorities today opened an investigation into BHP Billiton and Rio Tinto’s huge iron ore joint venture in Western Australia.

Market Report: Weak dollar drives up metals specialists

The mining industry helped to support the FTSE 100 last night, with Eurasian Natural Resources Corporation advancing by almost 4 per cent as metals prices improved.

Steel industry fights Rio's tie-up with BHP

Eurofer, the European steel industry body, last night called on the European Union to block BHP Billiton and Rio Tinto's iron ore joint venture in Western Australia, arguing that the tie-up between the two mining giants will lead to "market concentration".

Business Diary: 05/12/2009

The issues that really worry our MPs

In these difficult times for the world, what is Cheadle MP Mark Hunter most worried about? Global warming, the recession or even knife crime?

OECD 'holds key to commodity prices'

BHP Billiton’s chief executive sounded a cautionary note at the group’s annual general meeting yesterday, saying that it will be the middle of next year before the world’s biggest mining group would know if demand for commodities had stabilised. Marius Kloppers said Chinese demand had largely accounted for the growth in commodity prices in the last six months, but while Chinese stockpiling was largely complete, he said, growth in 2010 depended on demand from OECD countries.

BHP's Kloppers gets 51% rise as profits sink

Despite saying that the past 12 months were among the toughest on record for the mining industry, Marius Kloppers, the chief executive of the resources giant BHP Billiton, received a 51 per cent pay rise last year. The increase comes amid falling profits, the recession and the company's failure to pull off the takeover of rival Rio Tinto.

Rio Tinto posts big profit drop but pays down debt

Rio Tinto unveiled a record 64 per cent drop in first-half profits yesterday, saying it was "cautious" about the short-term outlook for commodities.

Rio Tinto to sell Alcan packaging to Amcor for $2bn

Rio Tinto is set to sell its Alcan packaging business to Australia's Amcor for $2bn (£1.2bn) as the miner continues the divestment programme stalled by the global credit crunch.

Investment Column: Watch China before a punt on BHP Billiton

Our view: Cautious hold

Share price: 1555p (+27.5p)

For some time now, plenty of companies, both in the mining sector and elsewhere, have pinned their hopes on the emerging markets, specifically China and India.

Hope of freedom for orang-utans dashed

248 endangered primates left in cages after mining company pulls out of rescue

Market Report: GKN draws strength from rights issue

A positive rights issue result, and some words of support from a leading broker, boosted GKN, the engineering group, which rose by 6.8 per cent last night.

World commodities demand shows signs of rebalancing

Developed economies are following China's lead and restocking their inventories
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Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
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Lake Garda
Minoan Crete and Santorini
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Turkey-Kurdish conflict: Obama's deal with Ankara is a betrayal of Syrian Kurds and may not even weaken Isis

US betrayal of old ally brings limited reward

Since the accord, the Turks have only waged war on Kurds while no US bomber has used Incirlik airbase, says Patrick Cockburn
VIPs gather for opening of second Suez Canal - but doubts linger over security

'A gift from Egypt to the rest of the world'

VIPs gather for opening of second Suez Canal - but is it really needed?
Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Jeremy Corbyn dresses abysmally. That's a great thing because it's genuine

Fashion editor, Alexander Fury, applauds a man who clearly has more important things on his mind
The male menopause and intimations of mortality

Aches, pains and an inkling of mortality

So the male menopause is real, they say, but what would the Victorians, 'old' at 30, think of that, asks DJ Taylor
Man Booker Prize 2015: Anna Smaill - How can I possibly be on the list with these writers I have idolised?

'How can I possibly be on the list with these writers I have idolised?'

Man Booker Prize nominee Anna Smaill on the rise of Kiwi lit
Bettany Hughes interview: The historian on how Socrates would have solved Greece's problems

Bettany Hughes interview

The historian on how Socrates would have solved Greece's problems
Art of the state: Pyongyang propaganda posters to be exhibited in China

Art of the state

Pyongyang propaganda posters to be exhibited in China
Mildreds and Vanilla Black have given vegetarian food a makeover in new cookbooks

Vegetarian food gets a makeover

Long-time vegetarian Holly Williams tries to recreate some of the inventive recipes in Mildreds and Vanilla Black's new cookbooks
The haunting of Shirley Jackson: Was the gothic author's life really as bleak as her fiction?

The haunting of Shirley Jackson

Was the gothic author's life really as bleak as her fiction?
Bill Granger recipes: Heading off on holiday? Try out our chef's seaside-inspired dishes...

Bill Granger's seaside-inspired recipes

These dishes are so easy to make, our chef is almost embarrassed to call them recipes
Ashes 2015: Tourists are limp, leaderless and distinctly UnAustralian

Tourists are limp, leaderless and distinctly UnAustralian

A woefully out-of-form Michael Clarke embodies his team's fragile Ashes campaign, says Michael Calvin
Blairites be warned, this could be the moment Labour turns into Syriza

Andrew Grice: Inside Westminster

Blairites be warned, this could be the moment Labour turns into Syriza
HMS Victory: The mystery of Britain's worst naval disaster is finally solved - 271 years later

The mystery of Britain's worst naval disaster is finally solved - 271 years later

Exclusive: David Keys reveals the research that finally explains why HMS Victory went down with the loss of 1,100 lives
Survivors of the Nagasaki atomic bomb attack: Japan must not abandon its post-war pacifism

'I saw people so injured you couldn't tell if they were dead or alive'

Nagasaki survivors on why Japan must not abandon its post-war pacifism
Jon Stewart: The voice of Democrats who felt Obama had failed to deliver on his 'Yes We Can' slogan, and the voter he tried hardest to keep onside

The voter Obama tried hardest to keep onside

Outgoing The Daily Show host, Jon Stewart, became the voice of Democrats who felt the President had failed to deliver on his ‘Yes We Can’ slogan. Tim Walker charts the ups and downs of their 10-year relationship on screen