On Friday August 20, BHP Billiton launched one of the largest ever cross-border hostile bids, a $US40 billion proposed takeover of Canada’s PotashCorp, writes Nigel Lake.
BHP Billiton
New tax a win for common sense and for the PM
While the opposition looks set to oppose the MRRT, Julia Gillard has come up with what appears to be a very well-designed compromise in a remarkably short time.
Business As Usual: China well and truly in the driver’s seat … BP spill bill jumps to $2b …
Golbal markets are dancing to China’s tune. Plus, the US is still lurching towards a slowdown, a failure for Macquarie,Germany has changed the dealine for its iron ore project with BHP and other business news.
2010 election: Labor’s challenge bigger than just beating Abbott
It’s no longer Tony Abbott versus Kevin Rudd. It’s several large, wealthy transnational companies — Rio Tinto, BHP-Billiton, Xstrata, News Ltd — versus Labor.
Tax havens and cosy deals: the Xstrata story
Mining multinational Xstrata has a real aversion to tax. While Rio and BHP might be every bit the lying multi-national bullies that Xstrata is, at least they’re actually genuine mining companies.
BHP, Rio still worth more than world’s biggest company
Even after all these claims that the proposed RSPT has smashed resource company share prices, the combined market capitalisation of BHP and Rio today is about $400 billion.
BP faces criminal probe: shares slump by 15% to nearly 40%
BP’s prospects worsened overnight as stock markets punished the company for the weekend failure to cap the oil leak in the Gulf of Mexico.
Why China is really pumping billions into Australia’s mining industry
China is investing in Australia’s start-up mining companies in an effort to undermine BHP and Rio Tinto. Many Australians have become overnight billionaires, but where will this ride on the great dragon lead us?
Political snippets: The real fear of mining companies emerges
It is not just the extra dollars that will be paid in Australia that concerns the mining giants of the world. Plus, what exactly did Joe Hockey promise Coalition economy policy would be? and other political news.
A global mining tax?
The controversial RSPT may still be under debate in Australia, but other countries — Brazil, Canada, Peru, Chile etc — may adopt similar schemes, reports Bloomberg.
Another Labor rent tax gaffe
First it was Wayne Swan who mistakenly equated the risk-free rate with a company’s cost of capital when defending the rent tax. Now Lindsay Tanner has made the same worrying mistake, writes Stephen Bartholomeusz.
Tips and rumours: Tips and rumours: BHP wonders who its real friends are
Who are BHP’s real buddies in Canberra? Is NSW’s welfare quarantining being extended? Why is Four Corners sniffing around Melbourne Storm?
Commodity export prices the interest rate driving force
The acceleration in commodity prices for Australian exports is driving something unheard of, the second surge in our terms of trade and national income from the China boom in three years.
Mayne: Mining slug mainly hits multinationals, so who cares?
The new mining tax is a good initiative by the Rudd government. Tony Abbott should get behind a move that slugs huge foreign companies but benefits little Aussie battlers.
Doing business in Cambodia,
BHP-style
Mining giant BHP Billiton could be guilty of paying $US2.5 million in bribes to the Cambodian government. Is this a repeat of the Rio Tinto saga, or are we seeing a pattern emerge? asks Georgia Wilkins.
Memo ASZ, ASIC: no pussyfooting … get tough with BHP
ASIC and the ASX should force BHP to reveal all board briefings and advice on its recent disclosure about a possible involvement in corruption.
Corruption at BHP?
BHP Billiton is being investigated for possible corruption involving government officials by the US Securities and Exchange Commission. The alleged corruption relates “primarily to certain terminated minerals exploration projects”.
BHP chief calls it a day: is Don, is (somewhat clouded) good
The recent retirement of Don Argus as chairman of BHP Billiton has brought a predictable sea of tributes from a wide array of sources.
We’ll all pay for BHP’s, Vale’s big iron ore price wins
Prices for steel products could rise 20%-30% worldwide thanks to new contract deals stuck by BHP and Vale in Asia and Europe.
Business As Usual: Chi-X Australia wins favour … matter of timing on AXA, NAB
Yesterday was a busy time for funds manager and insurer AXA Asia Pacific and the National Australia Bank, BHP Billiton will now be a tougher company to read, a new lease of life for a Melbourne printer and other business news.
Journalism media couples: an updated Crikey list
Crikey is updating our list of journalists whose partners are other journalists or employed in the news business as PR agents or government spinners. Know any that warrant a public airing?
Your Say: Daily Mail readers' feedback: Laughing at the Men at Work vs. Kookaburra case
Crikey readers weigh in on the Men at Work vs. Kookaburra copyright case. What kind of culture do we live in where a few notes can land you in a courtroom? asks one reader. Plus, safety issues for coal miners.
Business As Usual: Here we go again, BHP the bank?
It’s smiles all around at the RBA, the CBA’s earnings are up 54%, Standard & Poor has warned it may cut the credit of Citigroup and Bank of America, China continues to be the world’s biggest car market, and more business briefs.
Tips and rumours: Tips and rumours: another fatality again at BHP Billiton
BHP Billiton is really having trouble coming to grips with the need to produce as prices continue to rise, and maintaining a safe workplace, with already two workplaces fatalities in 2010.
Business As Usual: What’s Mandarin for boom?
China’s passenger car sales rose 84% last month, why Australia’s rising unemployment is chicken feed in global terms, The Australian carries on like a kookaburra, EMI is skint and more.
