Basic Materials

Iron ore mine

Cliffs Natural to take $6 billion charge on coal, iron ore assets

Cliffs Natural Resources Inc (CLF.N) said it would write down the value of its coal and iron ore assets by $6 billion due to weak prices, putting it in breach of debt covenants and sending its shares down as much as 6.8 percent.

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Amazon Fresh

Amazon expands grocery delivery service to Brooklyn

Amazon.com Inc is expanding its online grocery delivery program to Brooklyn's well-heeled Park Slope neighborhood on Friday, giving the No. 1 U.S. online retailer a foothold in one of the wealthiest and densest markets in the United States.

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Nickel

Monsoon to curb Philippines nickel mining, hurt China supply

Seasonal rains are set to disrupt nickel mining in the Philippines for the next four months or so, crimping exports to top buyer China and stoking a shortfall in the global supply of ore.

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Mining

Miner NWR sells 75 pct of new shares in rights issue

Czech hard coal miner New World Resources (NWR) said on Tuesday investors took up 3.78 billion new shares in a rights issue that is part of the company's debt and equity restructuring plans.

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JP Morgan Chase & Co

Mercuria's third founder: China head eyes long game

The little known Asia head of Mercuria will be key in tying the Swiss commodity trader's $3.5 billion acquisition of JP Morgan Chase and Co's physical commodity desk into the company's China business.

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Misui

Japan's Mitsui sells 25 percent stake in Arizona copper mine to Grupo Mexico

Japanese trading house Mitsui & Co Ltd (8031.T) said it had sold its 25 percent stake in Silver Bell Mining to a unit of Grupo Mexico (GMEXICOB.MX) that already owns the remaining 75 percent in the operator of Silver Bell copper mine in Arizona.

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Rosneft

Rosneft may back out of Morgan Stanley oil unit deal

Rosneft (ROSN.MM), Russia's biggest crude oil producer, may back out of a deal to buy Morgan Stanley (MS.N)'s oil trading unit because Western sanctions make it virtually impossible to finance day-to-day operations, three sources close to the state-controlled company said.

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Mining in Australi

Philippine company offers to buy Australia's Indophil Resources

Indophil Resources NL said on Tuesday Philippine-based conglomerate Alsons Group has offered to fully acquire the Australian company for $0.30 a share in an all-cash deal.

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Steel Mill

U.S. Steel Canada moving quickly to sell Hamilton assets

United States Steel Corp's (X.N) Canadian unit is preparing to quickly put its Hamilton assets up for sale and also hopes to run an auction process for its operations on Lake Erie, court filings showed on Tuesday.

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Tesco PLC

Tesco cuts outlook after finding accounting error

Tesco (TSCO.L) has lowered its forecast for first-half profit by 250 million pounds ($408.50 million), its third warning this year, after finding a fault in its accounts, in the latest blow to the reputation of Britain's biggest grocer.

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Lear Corp. Files Chapter 11 Bankruptcy Protection

Lear Corp to buy leather supplier Eagle Ottawa for $850 million

Lear Corp, a maker of auto seats and electrical power systems, said it would buy automotive leather supplier Eagle Ottawa LLC for $850 million to strengthen its core seating business and boost its luxury seats portfolio.

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Gold Bars

Gold near two-month low; set for weekly drop on interest rate fears

Gold held near a two-month low on Friday and was headed for its worst week in five, hurt by strong U.S. economic data and fears that the Federal Reserve could hike interest rates sooner than expected.

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Asian Paints Ltd

Asian Paints picks up 51pct stake in Ethiopian paint maker Kadisco

Mumbai, India-based decorative and industrial paint manufacturer Asian Paints (International) Ltd picked up a 51% stake in Ethiopia-based paint maker Kadisco Chemical Industry PLC for an undisclosed amount.

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Eagle Paint and Wallpaper Inc

New Jersey paint retailers Norton Paint and Eagle Paint merge

Englewood, New Jersey-based paint retailer Eagle Paint and Wallpaper Inc bought troubled Paramus-based rival Norton Paint for an undisclosed sum to gain traction over rivals in the paint industry.

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HomeAway

HomeAway purchases Florida-based rental management firm Glad to Have You

Austin, Texas-based home rental platform HomeAway purchased Santa Rosa Beach, Florida-based guest management system Glad to Have You for an undisclosed sum to enhance its own rental listing service.

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