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Gas station

Brent drops towards five-year low near $57, supply glut weighs

Brent oil extended losses into a fourth session on Tuesday, with prices hovering close to a more than five-year low above $57 per barrel, as persistent worries about a global supply glut offset concerns about output disruptions in Libyan.

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Crude Oil

Oil prices climb on Libya supply worries

Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the OPEC member.

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Russia skyline

Russia says to supply coal, electricity to Ukraine

Russia has agreed on a new deal to supply coal and electricity to Ukraine, which is struggling with a lack of raw fuel for power plants due to a separatist conflict in the industrial east, Russian officials said on Saturday.

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Lone Star Funds

HeidelbergCement in talks to sell unit to Lone Star Funds

Germany's HeidelbergCement AG (HEIG.DE) is negotiating to sell Hanson Building Products Ltd, a maker of concrete and clay building products, to private equity firm Lone Star Funds, according to people familiar with the matter.

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Anglo American Plc

Amplats gets $385 million offer for Bokoni mine stake

Anglo American Platinum has received a 4.5 billion rand ($385 million) offer for its 49 percent stake in the Bokoni mine in northeast South Africa, a source said on Wednesday, pushing its shares higher.

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Olam International Limited

Olam agrees to buy ADM's cocoa business to create global firm

Olam International Ltd (OLAM.SI) will buy Archer Daniels Midland Co's (ADM.N) cocoa business for $1.3 billion, it said on Monday, catapulting the Singapore-based commodities merchant into the top tier of the niche bean processing industry.

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Berkshire Hathaway

Berkshire Hathaway buys oil logistics business Charter Brokerage

Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Friday said it was buying oil industry logistics provider Charter Brokerage from private equity firm Arsenal Capital Partners.

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ArcelorMittal steel pant

ArcelorMittal, Tata Steel to start hedging iron ore

Top steelmakers ArcelorMittal and Tata Steel are dipping their toes into iron ore derivatives, marking a crucial milestone in developing trade for the world's second-largest commodity after oil.

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Rio Tinto

U.S. Congress approves land swap for Rio-BHP copper mine in Arizona

The U.S. Congress has cleared the way for global miners Rio Tinto (RIO.L) (RIO.AX) and BHP Billiton (BHP.AX) (BLT.L) to swap land with the government, which will allow them to build a long-delayed $6 billion copper mine in Arizona.

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Mexican billionaire, Carlos Slim

Mexican billionaire Slim to take top stake in Spanish builder FCC

Mexican billionaire Carlos Slim is set to become the largest investor in Spanish builder FCC after reaching a deal with the firm's current top shareholder Esther Koplowitz to buy her rights to participate in a $1.3 billion capital increase.

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Holcim

India regulator says Holcim-Lafarge merger may hurt competition

A planned merger by Switzerland's Holcim Ltd and France's Lafarge to create the world's biggest cement maker might hurt competition in India, the country's antitrust regulator said on Saturday, asking the firms for more details.

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Automobile factory

SGL says in talks with many carmakers to supply carbon fiber parts

SGL Group, the materials supplier for carbon fiber reinforced parts in BMW's electric cars, is in talks with several other carmakers to supply carbon fiber for a wider range of automotive components, its chief executive said.

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Mining in Indonesia

Tan in talks to sell ARMS stake to repay Standard Chartered

Indonesian businessman Samin Tan is in talks to sell assets including all or part of his stake in Asia Resource Minerals (ARMS) to help repay Standard Chartered and Raiffeisen close to $1 billion.

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Mining

Xstrata founder Davis bids for Anglo American assets

Mick Davis, the former boss of miner Xstrata, has made an offer for Anglo American assets including copper mines in Chile, Brazilian nickel mines and some coal operations, the Sunday Times reported without citing sources.

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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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