BHP Billiton faces record $5bn claim for failure of Brazilian dam in 2015 May 7, 2019 Mining giant BHP Billiton is facing a landmark, $5bn lawsuit for being “woefully negligent” before a 2015 dam collapse that led to Brazil’s worst ever environmental disaster. Read more: BHP profits slump after mining outages The damages claim will be the biggest group action to be heard in Britain, and was served today in Liverpool. [...]
BP profits drop but beat expectations as weaker oil prices squeeze margins April 30, 2019 BP saw profits sink in the first quarter of 2019, blaming weaker oil prices and squeezed margins, but the oil giant still managed to beat expectations. Read more: Equinor joins Shell and BP on climate change after investor pressure The figures Underlying replacement cost (RC) profit for the three months to the end of March [...]
Rolls-Royce, Vodafone and Interserve among firms kicked off government’s anti-late payment scheme April 29, 2019 The public sector’s war on late payment intensified today as 17 big hitters in British business were kicked off a voluntary scheme intended to crack down on the problem, including several blue-chip firms. Read more: Number of firms paid late by Cabinet Office nearly triples since 2016 Rolls-Royce, Vodafone and BHP Billiton were among the [...]
UK dividends jump to first quarter record due to huge one-off payouts April 15, 2019 UK dividends hit record highs in the first three months of the year thanks to huge one-off special payouts from some companies, new analysis has shown. Read more: Ranked: The best-performing assets of 2019 so far Yet underlying growth was weaker than expected from larger and smaller companies alike as a slowing global economy acted [...]
London miners dominate market rise after iron giant Vale cuts output March 18, 2019 London’s miners dragged the stock exchange upwards this morning after Brazilian iron giant Vale announced another output cut over the weekend. The company, which is in crisis after one of its dams burst leaving over 300 people dead or missing, said a court had ordered it to stop operating the Timbopeba mine in Minas Gerais [...]
Mining bosses to discuss safety after accident which killed hundreds February 24, 2019 A group of leaders from some of the world’s biggest mining companies will meet this week to discuss safety after a tragedy in Brazil which is thought to have killed over 300 people. Chief executives from Anglo American, BHP, Antofagasta, Glencore and Barrick Gold, among others, are expected to meet on the fringes of the [...]
How will the EU act after Brexit? February 21, 2019 Britain's planned departure from the EU exposes many issues. A key one is the economic path the UK will choose. Less commonly asked is what will the rest of the EU do. Perhaps this should figure more in the debate. Last year, President Macron suggested the EU move towards a core, built on closer political [...]
Congo cobalt mine takes chunk out of mining giant Glencore’s full-year earnings February 20, 2019 Mining giant Glencore’s shares were on the up this morning as it announced rising adjusted profits, despite missing analyst estimates and taking a huge 41 per cent hit net income hit from costs relating to its copper and cobalt mine in the Democratic Republic of Congo (DRC). The firm also announced a $2bn (£1.53bn) share [...]
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 [...]