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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.


Tesco accounting black hole to be less than originally stated: Sky

The world's third largest retailer, Tesco, will state next week that it overestimated earnings by less than the 250 million pounds which it previously announced, Sky news reported on Saturday, citing an unnamed banking source.

Egypt signs with six international firms to dredge new Suez Canal

Egypt signed contracts with six international firms on Saturday to carry out dredging of the new Suez Canal, the flagship project in President Abdel Fattah al-Sisi's program to revive an economy battered by years of political turmoil.

As IPO markets stumble, private equity buyers prepare to swoop

Across Europe, companies hoping to list are having their plans dashed by plunging equity prices. But what's bad for public stock markets may be good for private equity firms.


Latest News

f (x)'s Krystal Jung reportedly fainted after song performance in China. Fans reports the situation doesn't look too good.
Ashton Kutcher and Mila Kunis shows dedication and excitement to new roles as parents. Mila Kunis and Ashton Kutcher are so great at being parents, you'd think it isn't their first time being one.
Investors may have over-reacted to signs of economic slowdown, although they have been right to price in weaker global growth prospects, the Bank of England's chief economist said in a Sunday newspaper interview.
Evaporating inflation and slowing growth have put financial markets into such a spin that they could inflict further damage on the world economy.
Opponents of GMO food labeling proposals on the ballot next month in Oregon and Colorado have contributed roughly $20 million for campaigning against the proposed laws, nearly triple the money raised by supporters of the initiatives, campaign finance reports show.
Almost four years ago a handful of people gathered in Airbus sales chief John Leahy's spacious country house outside Toulouse and argued long into the evening over curry and cigars.
National Basketball Association executives should be popping the champagne over their jaw-dropping television contracts totaling $24 billion because such big-money deals are likely to vanish, analysts say.
China is set to unveil key legal reforms this week that will try to limit the influence local officials have on court cases, a move being closely watched by company executives who hope it will make the legal system more impartial.
Ukraine's and Russia's leaders have reached a preliminary agreement on a price for gas supplies this winter but Kiev may need international help to pay, Ukrainian President Petro Poroshenko said on Saturday.
After the tragedy during a 4Minute concert in the 1st Pangyo Techno Valley Festival which happened just yesterday, the handling group CUBE Entertainment has finally released a statement.