Steelmaker Nucor Buys Skyline For $605 Million
May 18 2012 2:36 PM
U.S. steelmaker Nucor Corp. (NYSE: NUE) said Friday it will buy Skyline Steel LLC and its subsidiaries from Luxembourg's mining and steel company ArcelorMittal (NYSE: MT) for $605 million.
AngloGold More Than Doubles Profit on High Gold Prices, Sees Metal Going Higher
May 10 2012 4:27 PM
AngloGold Ashanti Limited (NYSE: AU), the largest gold miner in Africa, said Thursday its profit more than doubled in the first quarter, when compared to year ago results, despite decreased output.
Euro Zone Uncertainties Sink In: Daily Markets Wrap
May 08 2012 4:05 PM
Post-election uncertainty in Greece pushed investors away from stocks and commodities, lowering German and U.S. bond yields and eroding the euro's value as investors sought the dollar. France's benchmark CAC 40 Index erased its Monday gains, which had confounded investors. The reality sank in a day late as euro zone uncertainties that popped up over the weekend took root. Greek stocks have lost 10 percent of their value so far this week.
Global Chip Sales Rose To $23.3B In March: SIA
May 01 2012 4:54 PM
Global chip sales rose about 1.3 percent to $23.3 billion, a slight increase from February but down nearly 8 percent from last year, the Semiconductor Industry Association reported.
- Farmers, Scientists Protest USDA Approval Of Dow's 'Agent Orange Corn'
April 27 2012 5:35 PM
Consumer, producer, and environmental groups are concerned that Dow AgroSciences appears to be on the cusp of winning U.S. regulatory approval for genetically engineered corn -- a move that could potentially have devastating consequences by encouraging the increased use of the herbicide 2,4-D.
India's Richest Man Makes $12 Billion Bet On Expanding Indian Economy
April 23 2012 11:57 AM
India's richest man is using nearly all of his company's spare cash to expand the firm's petrochemical capacity, placing a solid bet that the growing consumer class in that country will continue to drive growth in the sector well into the future.
Chesapeake Energy CEO Received $1.1B in Unreported Loans: Reuters
April 18 2012 11:05 AM
The CEO of Chesapeake Energy Corp. (NYSE: CHK), the nation's second-largest natural gas producer, has received over $1.1 billion in unreported loans over three years, Reuters reported on Wednesday.
Berkshire Hathaway Shares Shrug Off Buffett News
April 18 2012 9:54 AM
Shares of Berkshire Hathaway (NYSE: BRK/A) shrugged off news that CEO Warren E. Buffett has prostate cancer and will require treatment soon.
- IBM Sets ‘PureSystems’ Model For Cloud Services
April 11 2012 12:51 PM
International Business Machines Corp. (NYSE: IBM), the No. 2 computer services provider, announced a new campaign called “PureSystems” to sell computers and software for cloud computing.
Alcoa's 1Q Profit Falls 69% But Beats Estimates; Shares Rise
April 10 2012 4:38 PM
Alcoa Inc., the biggest U.S. aluminum producer, said Tuesday its first-quarter income fell 69 percent as higher costs offset increased revenue, but results beat expectations and shares jumped 5 percent.
- IBTimes 1000: Clean Tech German Sector Booming At Home and Abroad
April 09 2012 9:41 AM
The world's demand for alternative energy sources is powering growth in German industry, or so a look at the list of fastest-growing public companies in that country would suggest. Already the world leader in solar panel manufacturing, Germany is also home to an array of booming companies whose business is on the more peripheral side of clean energy creation and conservation.
Alcoa Cuts Alumina Capacity; 1Q Report Due Tuesday
April 06 2012 10:57 AM
Alcoa Inc., the U.S. aluminum giant, said Thursday it will reduce its annual total alumina production capacity by 2 percent this year, aimed at matching output with its plans to reduce smelter capacity amid global oversupply that has hurt prices.
IBM Strikes $1B Deal With Brazil Mogul Batista
April 05 2012 9:48 AM
The U.S. titan will provide technology services to Eike Batista's EBX Group and acquire a 20 percent stake in EBX subsidiary SIX Automacao.
Indonesia Mulls Steep Tax On Mineral Exports
April 03 2012 10:58 AM
One of the world's largest exporters of raw materials is working to introduce a steep tax on just such shipments this year, Reuters is reporting, a move that is catching foreign investors and major trading partners by surprise.
Big Brazilian Companies Eye Major Portuguese Cement Maker
April 02 2012 2:55 PM
Two Brazilian industrial titans are circling a big Portuguese cement maker in the latest sign that the euro zone's recession is cutting the value companies based in struggling European countries and making them takeover targets.
US Silver's 2011 Results Boosted By Rising Prices
March 30 2012 4:19 PM
U.S. Silver Corp. enjoyed a bountiful 2011, with revenue, net income, and production all increasing, thanks primarily to the rise in the price of silver, while reserves rose for the fifth consecutive year, the company reported on Thursday.
Sumitomo Metal Mining Finds New Gold Deposit in Alaska
March 27 2012 8:58 AM
Sumitomo Metal Mining Co., Ltd. (TYO:5713), a major Japanese non-ferrous metal miner, said Tuesday it has discovered a new gold deposit containing about 40 metric tons of gold at its Pogo mine in Alaska.
Gold Miners Say Mali Coup Not an Issue For Them
March 22 2012 12:36 PM
A coup d'etat currently underway in Mali is not affecting gold production there, miners in the country are saying, as events related to the military uprising seem confined to the country's capital, hundreds of miles away from where gold deposits are located.
Freeport-McMoRan Copper & Gold Cut Gold Output Estimate on Grasberg Strike
March 15 2012 3:24 PM
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) said Thursday that it has resolved a labor dispute with PT Freeport Indonesia workers at its Grasberg mining and milling operations, but that the work stoppage will cost the company production and sales of a significant amount of copper and gold.
Coal’s Share of U.S. Electricity Generation Falls to 35-Year Low
March 13 2012 12:06 PM
The share of power generation in the U.S. by burning coal has fallen to near a 35-year low, as electric power plants showed less interest in thermal coal due to a mild winter and a shift to cheaper gas.