BHP profits slump after mining production outages February 19, 2019 Mining giant BHP reported an eight per cent slip in profits in its half-year results this morning due to unplanned production outages. Underlying attributable profit was $3.7bn (£2.86bn) in the six months to the end of December 2018 the company said. Read more: Derailed train punches $600m hole in miner BHP's books Productivity guidance is [...]
Hundreds forced to flee as Brazilian miner Vale evacuates towns nears another of its mines February 8, 2019 Hundreds of people have fled their homes after Brazilian authorities ordered mining company Vale to evacuate town nears its Minas Gerais mine over fears it could burst. Vale said it had ordered 500 people from three communities to evacuate towns around its Sul Superior tailings dam at the Gongo Soco Mine after intervention from the national [...]
BP shares rise as oil giant more than doubles profit in bumper 2018 February 5, 2019 Oil major BP’s profit more than doubled in 2018, its fourth-quarter financial results showed today, sending shares up five per cent to 545.7p in early trading. The figures BP grew profit to $9.383bn (£7.19bn) in profit attributable to shareholders for the full year, up from $3.389bn in 2017. Return on average capital was 11.2 per [...]
FTSE risers and fallers: Exporters rise after pound weakens January 30, 2019 A weaker pound boosted Britain’s biggest listed companies today after MPs voted against an extension to Article 50 , and supported the Prime Minister’s plan B for Brexit. The FTSE 100 rose 1.58 per cent to 6,941.63 as its many exporters saw an increase in investor confidence. Read more: Vale takes £1bn hit as it sacrifices output [...]
Vale takes £1bn hit as it sacrifices output for safety after mining disaster January 30, 2019 Brazilian miner Vale said today it will take a £1bn financial hit to improve safety at its operations after the most deadly labour accident in Brazil’s history. Chief executive Fabio Schvartsman said his company will take around 10 per cent of its output offline as it decommissions 10 dams similar to the one that burst [...]
Judge freezes miner Vale’s assets after burst dam kills 58 in Brazil January 28, 2019 Prosecutors in Brazil have seized over £2bn in assets from Vale to ensure the miner patches up a dam which burst on Friday, killing over 50 people. Hundreds are still missing, presumed dead, after mud and water buried homes and mining facilities in the town of Brumadinho. Read more: At least 17 people killed after BHP Billiton [...]
Derailed train crashes into BHP punching $600m hole in miner’s accounts January 22, 2019 Anglo-Australian miner BHP dropped today as it warned that disruptions in its copper and iron ore mines would take a $600m (£463) chunk out of the company’s books. Investors were also left uncertain when the groups said that iron ore production had fallen nine per cent in the second quarter. An outage in the acid [...]
FTSE risers and fallers: FTSE 100 falls one per cent as global growth concerns hit stock markets January 22, 2019 Stock markets across the world have fallen today on heightened fears of a global growth slowdown. Warnings by the International Monetary Fund and the United Nations that the US-China trade war could accelerate the slowdown yesterday weighed heavily on equities as the FTSE 100 fell more than one per cent. The mining sector, reliant on [...]
Stock markets slide as Chinese data reveals impact of US-China trade war January 14, 2019 European stock markets have tumbled after weak Chinese trade data laid bare the impact of the US-China trade war. China’s export and import figures fell dramatically in December, going against analysts’ predictions of a rise. Read more: Markets lift as US-China talks reach conclusion Negotiations between the two nations concluded last week without a resolution, although [...]
Global stock markets and sterling slide as economic slowdown fears continue into new year January 2, 2019 Global markets have started the year in the red as investors struggle to shake off the economic slowdown fears that plagued stocks last year, while the pound has taken a more than one per cent hit against the dollar on the first day of 2019 trading. The FTSE 100 was down more than one per [...]