Rio Tinto fails to sell loss-making aluminium as profit falls

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Rio Tinto fails to sell loss-making aluminium as profit falls

Rio Tinto fails to sell loss-making aluminium as profit falls
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Rio Tinto fails to sell loss-making aluminium as profit falls

by Wochit 0:54 mins

Mining group Rio Tinto has scrapped efforts to sell its loss-making Pacific Aluminium business, blaming poor market conditions as weaker iron ore, copper and coal prices dragged first-half profit down 18 percent. Rio - which has put a handful of assets on the block as it battles $22 billion of debt - said it had not found a buyer and would not pursue a spin-off to shareholders. Internet TV startup Aereo will soon be available in Dallas, one of the cities affected by the Time Warner Cable-CBS blackout. Aereo said it would also launch in Houston and Miami as the controversial venture backed by Barry Diller's IAC/InterActive Corp builds out its customer base across the United States.

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