50.77 0.00 (0.00%)
After hours: 4:51PM EDT
|Bid||50.77 x 800|
|Ask||51.13 x 1800|
|Day's Range||50.72 - 51.42|
|52 Week Range||44.62 - 64.02|
|Beta (3Y Monthly)||0.53|
|PE Ratio (TTM)||6.37|
|Forward Dividend & Yield||3.02 (5.98%)|
|1y Target Est||54.54|
European shares dipped on Wednesday, after dramatic swings over the past week, as uncertainty over the outcome of London's last-ditch Brexit talks with Brussels kept investors on the sidelines. Brexit negotiations will resume in Brussels on Wednesday morning after "constructive" negotiations went into the night on Tuesday, a British spokesman said. Britain's domestically-focused midcaps slipped 0.2% after climbing recently on hopes of a Brexit deal.
Rio Tinto’s flagship iron ore business in Western Australia bounced back in the third quarter, reporting a 10 per cent increase in production of the key steelmaking ingredient. “Our increased focus on waste material movement and pit development will continue over 2019 and 2020 to improve mine performance and pit sequencing,” Rio said a trading update.
At least one policeman and a protester were killed on Monday during demonstrations in Guinea against a possible change to the constitution that could let President Alpha Conde seek a third term, officials and residents said. Police opened fire on demonstrators as they ransacked military posts and blocked roads with burning tyres in the capital Conakry and protests in the northern opposition stronghold of Mamou also turned violent, witnesses said. Conde's second and final five-year term expires in 2020 but the 81-year-old leader has refused to rule out running again.
European stocks took a step backward on Monday as traders took more sober assessments on the prospect of U.S.-China trade pact and a deal for Britain to leave the European Union.
We at Insider Monkey have gone over 730 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of June 28th. In this article, we look at what those funds think of Rio Tinto Group (NYSE:RIO) based on that […]
Vale S.A (VALE) anticipates annual outflow associated with taking down risky dams, repairing environment and compensation to peak at $1.5-$2.1 billion next year before declining through 2022.
Moody's Investors Service ("Moody's") has today downgraded Northwest Acquisitions ULC's ("Northwest") corporate family rating (CFR) to Caa1 from B3, Probability of Default Rating to Caa1-PD from B3-PD, its first lien secured rating to B2 from B1, and its second lien secured rating to Caa1 from B3.
Executives at Rio Tinto, which in Australia runs one of the world’s biggest iron-ore operations globally, had previously said they were under no pressure to offload the Canadian business.
Sept 30 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. - Alphabet Inc's Google draws congressional antitrust scrutiny as it plans to use a new internet protocol due to concerns that it could give the company a competitive advantage by making it harder for others to access consumer data. https://on.wsj.com/2nIT0Ny - Fashion retailer Forever 21 Inc filed for bankruptcy protection on Sunday and said it planned to close hundreds of stores, the latest casualty of shifting shopping habits. https://on.wsj.com/2nIS2AU - Miner Rio Tinto Plc scrapped plans for an initial public offering of its Canadian iron-ore unit, following a year-long effort to unload the business. https://on.wsj.com/2nKGRaT - GlaxoSmithKline Plc reported positive results from a study of a cancer drug in a clinical trial that a senior figure in the company said justified the decision to buy cancer specialist Tesaro for $4.16 billion. https://on.wsj.com/2mVQxzh - Food52, a digital bazaar that sells upscale home goods, said it sold a majority stake to venture firm TCG for $83 million. https://on.wsj.com/2mfJocS (Compiled by Bengaluru newsroom)
(Bloomberg Opinion) -- Amazon.com Inc.’s recent announcement that its operations will be carbon neutral by 2040 stands out for its sheer size. But Amazon is only one among dozens of companies that announced new carbon-intensity benchmarks ahead of this week’s United Nations General Assembly.It’s hardly a new phenomenon. Eighty-one percent of S&P 500 companies had set emissions-reduction or energy-use targets by at least four years ago. But many of these amounted to business as usual; the goals were set according to existing regulations, or emission-abatement projects already underway. Today’s targets are more ambitious, because they’re based on science.That is, the targets are set to enable companies to do their share to lower emissions enough to keep warming under 2 degrees Celsius, the scenario outlined in the UN Paris Agreement. They’re the first targets to align the private sector with the larger fight against climate change.And that’s important, because companies have so much work to do. New research from BloombergNEF has found that the 237 companies that had approved science-based targets through July 2019 (with a cumulative market cap of $6.5 trillion) will need to collectively reduce their emissions by 139 million tons of carbon dioxide by 2030.This is equivalent to eliminating half of Spain’s annual emissions. And the total will only grow as hundreds more companies set targets.Certain industries will have an easier time than others hitting their marks. Utilities, for example, which are expected to account for 60% of the emission reductions in BNEF’s analysis, have already been switching to clean energy from coal and natural gas. On the other hand, materials manufacturers, which produce emissions via energy-intensive chemical processes, will have a harder time achieving their goals.Unfortunately, science-based targets have yet to be set for several of the world’s heaviest-emitting businesses — including agriculture, which produces 24% of global emissions, and the oil and gas industries, which produce 10%. All this adds context to a recent announcement from Rio Tinto Plc that it will work with China Baowu Steel Group and Tsinghua University to lower the steel sector’s emissions. Rio Tinto does not actually have any emissions from steel-making; it produces only the coal and iron ore inputs. Its steel-making customers are the emitters, but Rio Tinto can help by exerting influence on their activities. That matters, because steel production accounts for 7% of all carbon emissions. Those emissions are hard to account for, and hard to abate — and therefore, all the more worth addressing with science-based targets.To contact the authors of this story: Nathaniel Bullard at firstname.lastname@example.orgKyle Harrison at email@example.comTo contact the editor responsible for this story: Mary Duenwald at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.Kyle Harrison is a BloombergNEF analyst focused on corporate energy strategy.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Premiums for aluminium shipments to Japan for October to December were set at $97 per tonne, down 10% from the previous quarter, amid ample supplies in Asia and softening demand from the electronics and auto industries, three sources directly involved in the pricing talks said. The figure is lower than the $108 per tonne paid in the July-September quarter and marks a first quarterly drop in three. Japan is Asia's biggest importer of the light metal and the premiums for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price set the benchmark for the region.
Rio Tinto is exploring for diamonds in Canada as part of its plans to stay in the sector despite the looming closure of its Argyle mine in Australia, known for extremely rare pink diamonds, the firm's head of copper and diamonds said. Colored or particularly large diamonds, however, have held value, especially pink diamonds, 90% of which are produced by Argyle. Arnaud Soirat, Rio's chief executive for copper and diamonds, said pink diamonds had risen in price by 500% since 2000.
European shares closed little changed on Tuesday on persistent growth worries and as London stocks succumbed to heightened Brexit uncertainty after the Supreme Court ruled that the British prime minister's suspension of parliament was unlawful. The pound rallied as the Court's decision was seen as reducing the probability of Britain leaving the European Union without a divorce deal or possibly delaying Brexit. The currency's rally saw the FTSE 100 give up 0.5% as firms that earn much of their revenue in dollars fell.
The market for this essential industrial material tanked in recent years but there are signs it's settling down, with fewer big players in the market.
A Japanese aluminium buyer has agreed to pay a global producer a premium of $97 per tonne over the benchmark price for shipments in October to December, down 10% from the previous quarter, a source directly involved in the pricing talks said. The figure is lower than the $108 per tonne paid in the July-September quarter and marks a first quarterly drop in three. Another industry source said he heard about the deal, but others have not followed it as most of buyers are seeking lower levels.