News

China continues to show off its influence over the London market as some of the big miners took a heavy dent on the first day when most trading desks were full after the festive celebrations.

Market Report: Miner Hochschild climbs on cost cuts

The City isn’t known for penny-pinching, but news that a mining company was taking control of spending, slashing bosses’ pay and culling the number of executives sent it to the top of the mid-tier index.

China is likely buyer as Glencore Xstrata offloads Peruvian prize

Glencore Xstrata put its $5 billion (£3 billion) Las Bambas copper project up for sale today to meet a crucial condition of being allowed to form the wheat-trading-to-coal-mining empire.

Market Report: Miners in a hole after dollar soars

A better-than-expected US jobs report pushed the dollar up, which in turn melted metal prices yesterday and miners ended up buried at the bottom of the blue-chip index.

Buyers fail to take a shine to Rio Tinto’s diamonds arm

Diamonds are forever for mining giant Rio Tinto, which today scrapped plans to sell or float its  $2 billion (£1.3 billion)  precious stones division.

Business week in review

In profit...

New finance chief for Rio as big mining shuffle goes on

The changing of the guard continued in the FTSE 100 mining industry as Rio Tinto appointed Chris Lynch, a former finance head at BHP Billiton, as its chief financial officer.

BHP Billiton becomes third FTSE 100 global mining giant to change CEO in as many months

BHP Billiton became the third of the FTSE 100 global mining giants to change its chief executive in as many months as the industry braces itself for a long period of sluggish resources prices.

Rio Tinto CEO Tom Albanese departs after big loss in Mozambique

The boss of mining giant Rio Tinto was ousted today after the company disclosed a near £9 billion charge relating to two major acquisitions.

Market Report: Mining giants rise on merger approval

Shareholders in Glencore and Xstrata were in jubilant form yesterday after Europe gave the green light to their plans for a £56bn mega-merger, in a decision which means the deal is now as good as done.

Winston expands with BHP deal

Harry Winston, the luxury jeweller with outlets in Harrods and in Bond Street, is expanding the mining side of its business after paying BHP Billiton $500m (£315m) for a controlling stake in a Canadian diamond mine.

Nicholas Levens's total losses: £32m

Stockbroker Nicholas Levene used £32million Ponzi-scheme fraud to fund extravagant lifestyle

Even for a man with more than £300m to burn, stockbroker Nicholas Levene’s life was marked by years of staggering excess.

Tom Bawden: Rivals will keep outperforming Anglo American

Investment View: Cynthia Carroll didn't do such a bad job in an extremely difficult situation

The Business Matrix: Thursday 11 October 2012

Avanti shares dip 19% after losses

Miners prepare to reveal billion-dollar profit falls

Rio Tinto and Xstrata pincered by rising costs and lower prices

BHP chief forgos bonus after gas losses

Marius Kloppers, the chief executive of BHP, became the latest FTSE 100 mining boss to forgo his bonus yesterday after being forced to write $2.84bn (£1.8bn) off the value of a US shale gas business he bought at the top of the market.

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