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Stock Market & Financial Investment News

News Breaks
May 21, 2014
06:27 EDTBHPBHP Billiton warns on potential strike at Port Hedland
BHP Billiton President Iron Ore, Jimmy Wilson expressed growing concern over possible industrial action by members of the Maritime Union of Australia at the Port of Port Hedland. Wilson said any action by MUA members would have severe consequences for Australian exports and would damage the country’s international reputation, and its overall national interest. “Industrial action by the MUA will stop all shipments out of the Port and cost exporters like BHP Billiton, Fortescue Metals Group and Atlas Iron about A$100M a day. In addition, the State and Federal Government stand to lose tens of millions of dollars a day in royalties and corporate tax revenue,” he said. "Mining companies like BHP Billiton will not be able to make up the shipments lost during industrial action, and governments cannot recover the lost royalties and taxes. Any interruption to shipments of iron ore would have a detrimental impact on Australia’s international reputation as a stable and reliable supplier of critical resources. BHP Billiton is actively pursuing the limited options available to the company under the Fair Work Act to prevent industrial action at Australia’s largest export port." Reference Link
News For BHP From The Last 14 Days
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December 15, 2014
09:31 EDTBHPRio, BHP looking to raise copper output, Reuters says
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08:34 EDTBHPBHP Billiton downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital downgraded BHP Billiton as the firm believes that the outlook for the company's cash flow metrics is weaker than its peers. The firm questions the timing of the company's South32 spin off and Four Pillars initiative, given potential structural issues affecting iron ore and oil.
December 11, 2014
08:16 EDTBHPBHP sees potash as focus for growth in China, WSJ reports
Mining giant BHP Billiton said it is focusing on potash as an area of strategic growth in China, with Mike Henry, a president for BHP saying potash "can be our fifth pillar,” adding to the four key markets of iron ore, oil and natural gas, copper and coal that the company had identified previously, reported The Wall Street Journal. Other publicly traded companies in the potash space include Agrium (AGU), Intrepid Potash (IPI), Mosaic (MOS), Potash (POT). Reference Link
December 10, 2014
15:08 EDTBHPFollow-up: BHP Billiton upgraded at CLSA
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15:05 EDTBHP, BHPBHP Billiton upgraded to Buy from Outperform at CLSA
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December 8, 2014
06:11 EDTBHPBHP Billiton says new company to be called South32
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