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Two Biggest Mining Company, BHP and Rio Tinto : BHP Billiton backs off bid for Rio Tinto
One of the biggest planned mergers in corporate history, between mining groups BHP Billiton and Rio Tinto, was scrapped yesterday after a year of preparation, in a move that spread further gloom about the state of the global economy.
The hostile takeover by BHP was once worth $140bn (£92bn) but the collapse in commodity prices and [...]
Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell
Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]
Flush With Cash and Fearful, Gulf Arab States Plan Weapons Buying Binge
Deep fears about the war in Iraq and growing tension between the United States and Iran are driving the wealthy oil states of the Persian Gulf to go on shopping sprees for helicopters, ships and tanks, officials say.
Some 900 weapons makers and security firms from around the world, including the U.S. and Russia, will compete [...]
