Miner BHP Billiton settles £300m tax bill with Australian authorities over sales at Singapore branch November 19, 2018 One of the world’s largest mining companies has settled a tax bill for half a billion Australian dollars. Authorities alleged that BHP Billiton owes a further AU$661m (£376m) in tax, and over AU$1bn when including interest and penalties, on goods sold through its Singapore-based marketing business. The Australian Taxation Office (ATO) said that between 2003 and 2013 the miner [...]
Unilever to stay on FTSE 100: How investors reacted October 5, 2018 Unilever’s awkward climbdown over its attempt to move its main listing to the Netherlands is unlikely to be the last, according to one financial expert, as investors reacted to the company’s decision to retain its London headquarters today. Unilever this morning pulled plans to make the Netherlands its sole headquarters and quit its UK offices, after [...]
BHP Billiton share price up six per cent despite pre-tax profits falling 61.7 per cent year-on-year August 25, 2015 BHP Billiton's share price was trading up to six per cent up in morning trading, leading the FTSE 100, despite reporting a significant fall in pre-tax profits for the year to the end of June, missing analysts' expectations, amid falling commodity prices. The figures BHP Biliton reported pre-tax profits of $8.67bn (£5.50bn), 61.7 per cent lower. The [...]
Chinese shock leaves the FTSE 100 nursing losses after renminbi devaluation August 12, 2015 The FTSE 100 fell by 72 points yesterday as luxury goods and mining firms suffered from China’s unexpected devaluation of the renminbi. The Chinese devaluation, news of which broke after the FTSE closed on Monday night, saw Burberry shares open 12p down on the previous day at 1,595p, before falling throughout the day to [...]
BHP Billiton beats expectations but disappoints with guidance July 22, 2015 Mining giant BHP Billiton smashed through iron ore production guidance in the year ended 30 June, posting output of 233m tonnes against a projected 230m tonnes. Petroleum production climbed by four per cent in the year, up to 256m barrels of oil equivalent, and metallurgical coal output was up 13 per cent to 43m tonnes. [...]
Glencore share price falls as FTSE miners feel the heat from commodities selloff July 7, 2015 London-listed miners felt the heat today after the outlook for the Chinese economy darkened amid ongoing equity market turmoil. Earlier in the day copper prices fell 5.9 per cent to a six-year low of $2.389 a pound on concern about economic growth in China, the world's top metals consumer. It comes a day after Chinese brokerages [...]
BHP Billiton spin-off in good stead as debt is halved March 17, 2015 Commodities group BHP Billiton is set to spin-off its weaker assets with less debt than originally expected through fledgling mining company South32. South32’s portfolio of mines and refineries has long been overshadowed by BHP’s iron, petroleum and copper businesses. The smaller business contributed post-tax profits of $738m (£500m) in the last six months of 2014, [...]
BHP Billiton dubs new $15bn mine spin-off venture South32 December 8, 2014 ANGLO-Australian mining company BHP Billiton yesterday named its new $15bn (£9.6bn) mining spin-off – South32. The title comes from the fact that the company’s main resources are located in the southern hemisphere, namely in South Africa and Australia. Both of these areas are linked by the thirty-second parallel south line of latitude. BHP Billiton initially [...]
BHP Billiton share price up as miner confirms new metals firm will list in London October 16, 2014 BHP Billiton’s shares yesterday dipped briefly by almost two per cent, but finished up 0.12 per cent, after confirming that its new company would be listed on the London Stock Exchange. Andrew Mackenzie, BHP’s chief executive, said: “We are pleased to offer an additional listing in London in response to the interest investors have shown [...]
Iron miner BHP cuts costs as it builds capacity October 6, 2014 MINING company BHP Billiton is aiming to cut costs while increasing capacity at its Western Australia Iron Ore (WAIO) operation, the group announced yesterday. BHP iron ore president Jimmy Wilson told investors at a tour of the WAIO site that the firm planned to cut unit costs by “at least 25 per cent” to $20 [...]