Shanghai Comp, Nikkei outperform lackluster Asia Shanghai and Japan markets eked out marginal gains to touch fresh multi-year highs on Wednesday, while other bourses in the region stumbled following an unimpressive lead from Wall Street.
| By: See Kit Tang
China's bid to lock in cheap iron ore With iron ore prices still at multi-year lows, a reported interest by China's biggest steelmaker for indebted Australian iron ore miner Fortescue Metals makes business sense for both parties, depending on how much the deal is worth, analysts say.
| By: Mia Tahara-Stubbs
UPDATE 1-Fortescue says unaware of any approach to Australian regulators MELBOURNE, May 26- Fortescue Metals Group said on Tuesday it was not aware of any parties seeking permission from Australia's regulators to take a stake in the company, after its shares jumped 15 percent on a media report that Chinese firms had applied to buy a stake. The Australian Financial Review reported that Chinese-linked companies had sought permission...
| By: Sonali Paul
Does Hewlett-Packard split make sense? Shares of Hewlett-Packard topped analyst estimates, saying it expects lower expenses after the split. Roger Lee, Battery Ventures partner, thinks a split makes sense for the company's operations.
Iron ore inquiry a 'waste of taxpayer money': Pro Tim Schroeders, fund manager at Pengana Capital, explains why he agrees with the Australian government's decision to walk away from an inquiry into the country's iron ore sector.
BHP Billiton pays $25M to settle SEC anti-bribery complaint NEW YORK- BHP Billiton has agreed to pay $25 million to settle Securities and Exchange Commission charges that it violated anti-bribery laws by failing to have a proper system in place to prevent the risk of bribery when it paid for trips of 60 government officials to the 2008 Beijing Olympic Games. The SEC said the mining company brought 60 government...
Source: The Associated Press
UPDATE 1-U.S. SEC fines BHP Billiton $25 mln over 2008 Olympics dealings According to the SEC, BHP ultimately paid for 60 guests and some spouses and guests to attend, mainly from Africa and Asia. "BHP Billiton recognized that inviting government officials to the Olympics created a heightened risk of violating anti-corruption laws, yet the company failed to implement sufficient internal controls to address that heightened risk,"...