Rio Tinto’s AGM in Sydney on Monday is all about treating small shareholders with utter contempt.
BHP Billiton
Morning Market Report: BEN gets crushed
Bendigo and Adelaide Bank (BEN) getting smashed after releasing its Trading Update.
Morning Market Report: OZ Minerals bid from China Minmetals blocked
Market Down 51, the Dow down 147 and BHP in the news. Marcus Padley reports on the highs and lows of today’s markets.
The destruction of Australia’s most productive food bowl
Australia’s most productive agricultural region, the Liverpool Plains in North-West NSW, is under siege from BHP Billiton and coal and gas companies, writes Rosemary Nankivell.
Vote for Chinalco, bring Rio Down Under
The debate leading up to the big Rio Tinto shareholder votes in May will be the most complex, politically charged and serious that we’ve ever seen over foreign investment, writes Stephen Mayne.
Dyer’s business wrap: Glee turns to gall on Wall St
An early whiff of economic joy overnight was quickly dashed when a more convincing trigger failed to eventuate, writes Glenn Dyer.
BHP’s $690 million Rio fees blowout
BHP spent $690 million in advisory fees for a deal that went nowhere, and it’s time to start counting the cost to shareholders, writes Michael Feller.
ArcelorMittal hits the panic button
The world’s biggest steel company has announced it is cutting 9000 jobs as commodity markets continue their contraction, writes Glenn Dyer.
What is BHP hatching with Oz Minerals?
In the wake of BHP Billiton calling off its shotgun marriage to Rio Tinto, the Big Australian is looking at a deal with OZ Minerals, writes Glenn Dyer.
AFR offers faux-support for cartel busting
Never popular with infrastructure owners (who’d have thought?), the very principles of the competiton policy have come under sustained attack in recent years, writes Bernard Keane.
Kohler: Chinalco’s default position
If the Chinese aluminium firm wants genuinely to compete with the BHP bid for Rio Tinto, it would have to offer all cash, and probably about $US200 billion of it, writes Alan Kohler.
Three cheers for Queensland’s coal royalty slug
Whilst no-one likes tax rises, Wayne Swan and Anna Bligh should be congratulated for together slugging the North West Shelf and Queensland coal miners with a $1.1 billion tax rise for 2008-09, writes Stephen Mayne.
Don Argus’s China syndrome melt down
BHP-Billiton chairman Don Argus is getting close to hysterical xenophobia with his warnings about China Inc, writes Stephen Mayne.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Blogwatch: the BHP goes to Rio edition
Rio says not yet … Would Rio really be better off? … Banks help BHP out in time of need.
BHP goes hostile on Rio with crafty all-scrip bid
The BHP-Billiton board has ignored Chinese concern and passionate pleas for restraint and gone ahead with its hostile takeover bid for Rio Tinto, writes Stephen Mayne.
Market down again, worst losing streak in 26 years
More blood on the laptop and LCD screens this morning in trading rooms and offices around the country as the market shed another 80 points in its worst losing streak for 26 years, writes Glenn Dyer.
Australian market plunges into uncharted territory
The Australian stockmarket is in uncharted waters today after falling for the 10th consecutive day, something that seems to have never happened before, writes Glenn Dyer.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
Stephen Mayne’s boardroom dreaming
The December issue of The AFR Magazine has sparked plenty of debate by naming a so-called “Dream Team” board. BHP-Billiton chairman Don Argus is pictured on the cover as our best chairman and then nine other directors are listed. Only two of them make my top 10 directors.
Rudd’s Rio test
Kevin Rudd and the new Labor Government have just received a big nudge from China about the BHP Billiton move for Rio Tinto.
Tips and rumours
The rumour out Bennelong way is that the Exclusive Brethren have given their members special permission to vote at this election. Might at the very least help John Howard’s salvation locally. In contrast to the experiences of other ex-pats regarding absentee voting, the High Commission in Wellington New Zealand were well prepared and I voted […]
Commentary wrap: BHP bites the bullet, backs down
Crikey / Wednesday, 26 November 2008
In an announcement to the ASX last night, BHP Billiton backed away from its $100 billion hostile bid for Rio Tinto. The commentariat weighs in: