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Stock Market & Financial Investment News

News Breaks
April 15, 2014
11:44 EDTPOT, BHPPotash Corp. advances after report says BHP could make new bid
Potash Corp. of Saskatchewan (POT) shares are higher this morning following a report that indicated BHP Billiton (BHP) may make another bid for the company. BHP Billiton, a diversified natural resources company, previously tried and failed to buy Potash Corp., an integrated fertilizer and related products maker, in 2010, but failed the government's "net benefit test" and the Saskatchewan government opposed a deal. WHAT'S NEW: The Globe and Mail this morning reported that BHP could consider making a new bid for Potash Corp. The Canadian publication notes that a deal is "not a sure thing," but adds that owning Potash Corp. would be the best way for BHP Billiton to get into the potash business. The Globe and Mail said the value of the potential deal could be "more like $40B," though the "real" cost would be less. BHP has not expressed interest in Potash's operations in phosphate and nitrogen, according to the report, which speculates that BHP could possibly look to sell off those operations and could also look to mothball Potash Corp's $15B Jansen project in Saskatchewan. WHAT'S NOTABLE: The Fly notes that Jochen Tilk will become president and CEO of Potash Corp. on July 1. ANALYST REACTION: Miller Tabak upgraded shares of Potash to Neutral from Sell following the Globe and Mail report. PRICE ACTION: Potash Corp. shares trading in New York were up 60c, or 1.77%, to $34.49 in late-morning trading. Meanwhile, BHP Billiton shares trading in New York were down $1.35, or 1.9%, to $69.89.
News For POT;BHP From The Last 14 Days
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September 30, 2014
10:35 EDTBHPBHP and South Africa’s Transnet in $2.1B coal-haulage deal, Bloomberg says
South Africa’s ports and rail operator Transnet SOC signed a 10 year, $2.1B coal-haulage deal with miner BHP Billiton, says Bloomberg. Reference Link
08:12 EDTBHPBHP Billiton reports employee fatally injured at Worsley Alumina refinery
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06:21 EDTBHPBHP sends Phil Montgomery to Jansen potash project, WSJ reports
BHP Billiton has sent Phil Montgomery, its head of group project management, to run the massive Jansen potash development in Canada, the Wall Street Journal reports. BHP has committed $3.8B to the project, but it has no fixed completion date, and last year work was halted for months due to technical issues. Reference Link
September 28, 2014
19:23 EDTPOTThis harvest could be trouble for Deere, Potash, Monsanto, Barron's says
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September 25, 2014
13:03 EDTBHPBHP Billiton discussing possible resolution of 2009 anti-corruption case
In its annual report, BHP Billiton said that it was currently discussing a possible resolution to its 2009 anti-corruption case. The company said, "As previously disclosed, BHP Billiton received requests for information in August 2009 from the SEC. Following that request, the group commenced an internal investigation and disclosed to relevant authorities evidence that it has uncovered regarding possible violations of applicable anti-corruption laws involving interactions with government officials. The issues relate primarily to matters in connection with previously terminated exploration and development efforts, as well as hospitality provided as part of the company’s sponsorship of the 2008 Beijing Olympics. The Group is currently discussing a potential resolution of the matter."
10:06 EDTBHPOn The Fly: Analyst Upgrade Summary
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07:37 EDTBHPBHP Billiton to freeze pay for CEO, non-executive directors
Following the Remuneration Committee’s annual review the CEO Andrew Mackenzie’s base salary and target remuneration for this year will remain unchanged. Last year, the Remuneration Committee believed that Mackenzie's remuneration should be rebased down and as a result, the CEO’s package was reduced by approximately 25%. Non-executive Director fees will also remain unchanged. In its annual report, the company believes these outcomes align remuneration with shareholder interests and the prevailing business environment.
07:32 EDTBHPBHP Billiton upgraded to Buy from Neutral at Citigroup
September 24, 2014
13:45 EDTBHPBHP Billiton mulls secondary listing in London for spin-off company, WSJ says
BHP Bilton is mulling a secondary listing in London for its new spin-off company that contains noncore mining assets, The Wall Street Journal reports, citing a shareholder letter. The move comes following increased shareholder pressure regarding the company's original plan to spin off the company only in Australia and South Africa. Analysts estimate the new company could be worth approximately $17B, The Wall Street Journal added. Reference Link
September 23, 2014
06:07 EDTBHPBHP Billiton shedding 700 mining jobs in Queensland, Guardian reports
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September 17, 2014
12:54 EDTPOTPotash would like to grow dividend over time
Comments made at the Credit Suisse Basic Materials Conference.
10:00 EDTBHPOn The Fly: Analyst Downgrade Summary
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05:26 EDTBHPBHP Billiton downgraded to Underperform from Neutral at Exane BNP Paribas
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