Anglo American is shipping the first iron ore from its flagship Minas-Rio project in Brazil's Minas Gerais state to China, the company said in a release. "The first cargo of more than 80,000t of iron ore for the pellet feed market was loaded onto a chartered vessel at the dedicated export terminal at the port of Açu, in Rio de Janeiro state, and the vessel is currently en route to customers in China" Anglo said.
Updated 5 Years ago

If you needed any more proof of how mobile the world has become, consider what happened to my lost iPhone. After I left my device in a New York City taxi this summer, I went through the usual steps to try to get it back. I turned on Apple’s Find My iPhone tool to locate it, but the phone had already been turned off and rendered untrackable. I called the cab company that was listed on my credit card statement, but they said the driver hadn’t found anything. So I changed all my passwords, bought a new phone and gave up on ever hearing about it again.
Updated 5 Years ago

The European Central Bank said it settled 1.704 billion euros ($2.2 billion) of covered-bond purchases last week as it started its latest effort to revive the euro-area economy. The Frankfurt-based institution began purchases on Oct. 20, returning to the market for a third time in six years as part of a renewed attempt to stave off deflation and pump life into a moribund recovery.
Updated 5 Years ago

U.S. energy companies are shrugging off a 24 percent plunge in oil prices, confident they can adapt and still make money. Amid predictions that the biggest drop in crude prices since the global financial crisis six years ago will choke off cash flow and slow drilling, industry leaders are reassuring investors they still have the means to return ample profits. Improved technology is bringing down costs and most shale producers operate in multiple basins, allowing them to shift work to the most profitable sites.
Updated 5 Years ago

China’s State Council has ordered the merger of trainmakers China Northern Locomotive & Rolling Stock Industry Group Corp. and CSR Group into one company, according to government officials involved in the transaction. A consolidation will facilitate efforts to win contracts abroad, said the officials, who asked not to be identified as they are not authorized to speak to the media. Details of the transaction are yet to be set, and China International Capital Corp. is drafting a plan for merging the two companies’ listed arms, they said.
Updated 5 Years ago

Xiaomi, which specialises in low-cost smartphones, has ambitions to sell 100,000 handsets in India every week. But the country's air force warned its personnel against using the devices, citing security concerns about data being kept in Beijing.
Updated 5 Years ago

Route 66 of the Future uses special green paint, charged by daylight. It is designed to be clearer than existing cat's eye reflective spheres. Its creators are also due to test glow-in-the-dark cycle lanes, which they said had already attracted the interest of UK planners.
Updated 5 Years ago

Most analysts expect the US central bank to end its monthly bond-buying programme and maintain its benchmark interest rate at a record low. Japan's benchmark Nikkei closed down 0.4% despite data showing September retail sales beat economist estimates. Australian and South Korean shares also ended trading in negative territory. In Hong Kong shares rose 1%.
Updated 5 Years ago

The class action lawsuit comes after millions of cars were recalled over potentially dangerous airbags. It claims Takata and automakers such as Honda and Toyota hid the alleged airbag defects from consumers. At least four deaths and more than 30 injuries in the US have been linked to faulty airbags made by Takata.
Updated 5 Years ago

The Asia-focused lender said pre-tax profits fell to $1.5bn (£930m) in the July-to-September quarter compared to the same period a year ago. Standard Chartered also warned full-year earnings would fall because of weak trading activity.
Updated 5 Years ago