Rio Tinto posts a 59% drop in its profit

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Source: Bloomberg
Rio Tinto Group, the third biggest mining firm in the world reported a 59% drop in its annual profit after executing one time payment on its aluminium division. The annual net income amounted USD 5.8 billion compared to USD 14.3 billion previous year. Economists earlier predicted net income to reach USD 15.6 billion. 
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Thu, 09 Feb 2012 09:01:20 GMT

Europe shares decline on Wednesday as Greeks linger with austerity measures

Most European equity markets finished lower on Wednesday as Greece continued to struggle with international creditors about nation's debt swap agreement. Stoxx Europe 600 index and UK FTSE 100 index each edged down 0.2% at 263.01, and 5,875.93 respectively. DAX 30 index and French CAC 40 each fell 0.1% at 6,748.76 and 3,410.00 respectively. 

Thu, 09 Feb 2012 08:43:12 GMT

South Korea keeps interest rates untouched at 3.25%

The Bank of Korea decided to leave its benchmark interest rate unchanged for the eight consecutive month. The bank's step matched analysts' expectations. BOK kept its key interest rate at 3.25%, citing improving foreign economic outlook and balanced home inflation as factors, curbing the pressure for an interest rate cut. 

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