BHP

  1. BHP says Mike Henry to take top job

    Mike Henry

    BHP says Mike Henry will take over the top job at the Anglo-Australian mining giant next year.

    He'll succeed Andrew Mackenzie who is set to retire in December after nearly 7 years in charge.

    Mr Henry currently leads the firm's Australian operations and comes to his new role despite some calls for the global miner to bring in outside talent.

  2. TUI leads FTSE 100 risers

    TUI plane

    Holiday group TUI is leading the FTSE 100 risers in early trading, with its share price up 2.2% at 777.7p.

    Following the publication of its full-year results on Tuesday, miner BHP saw its shares top the blue chip fallers, down 1% at £17.16.

    The FTSE 100 is up 0.37% at 7,151.70.

    The FTSE 250 is ahead 0.27% at 19,058.72.

  3. BHP 'done a lot' over Brazil dam collapse

    Today Programme

    BBC Radio 4

    mud and animals and a car

    Andrew Mackenzie, BHP Billiton's chief executive, was also asked about the impact of the collapse of Samarco mine in Minas Gerais state. Brazil, in 2015.

    "We have done a lot, the river is much cleaner now and we are getting on with the final phase of the resettlement," he told BBC Radio 4's Today Programme.

    The company took a $1.1bn (£900m) charge relating to the disaster in these results.

  4. Demand has softened a little, says BHP boss

    Today Programme

    BBC Radio 4

    BHP Billiton chief executive Andrew Mackenzie

    The world's biggest mining company BHP has announced a rise in underlying profit to $9.1bn (£7.5bn) for the year to 30 June up from a previous $8.9bn.

    Commenting on current conditions, BHP's chief executive Andrew Mackenzie (pictured), told the BBC Radio 4's Today Programme that the miner is exposed to global trade, particularly in China, where it sends iron ore and other commodities.

    He says demand "has softened a bit but to some extent the stimulus [China] put into their economy to counteract some of the potential and real impacts of the trade dispute with the United States has actually created increased demand for our products".

    Demand for copper is more affected and he says there is a broader nervousness.

    "There is increasing nervousness when you run a large company like ours which operates multi-nationally and is very much a participation in global supply chains. We are, if you like, the product of free trade, of free markets and competition and broad sharing of resources and ideas, and when you see so much politics around the world which is perhaps challenging that.. that to some extent is saying that form of capitalism is less acceptable and a new one is sought.

    "But the reality is we like the existing one, and we do worry about what will happen if things like globalism and purposeful capitalism were in someway pushed back".

  5. BHP escapes effects of US-China trade war

    Truck in an Australian mine

    Global mining giant BHP says the trade spat between the world's two largest economies isn't yet hurting demand for its raw materials.

    Speaking as the firm posted a lift in annual profit and declared record dividend, chief executive Andrew Mackenzie said while the US-China trade row putting a dampener on global economic growth, it hadn't yet hit demand for commodities like iron ore, copper or coal in China.

  6. Mining stocks fall

    dam

    Miners are the biggest fallers in the FTSE 100 so far today.

    Rio Tinto, BHP Billiton and Anglo American are all off 3% or more.

    Reuters links this to plans by Brazilian miner Vale to partially resume processing operations at Vargem Grande complex.

    Production had fallen - forcing prices higher - after the collapse of the Brumadinho dam in January, which killed at least 248 people.

    Reuters notes that a number of brokers are pointing to an increase in iron ore supply in the future.

    Earlier falsethis month a judge in Brazil ordered Vale to pay compensation for all damages

  7. Production disruptions hit BHP

    Mining vehicle

    First-half profits fell 8% at the world's biggest miner BHP Group.

    The company blamed the fall on production disruptions and a decline in commodity prices during the period.

    Underlying profit from continuing operations for the six months ended 31 December fell to $4.03bn (£3.12bn) from $4.40bn a year ago. That was some way below analyst estimates of $4.209bn.

    The company declared an interim dividend of $0.55 per share, the same as last year.

  8. Good Morning

    Welcome to today's Business Live page, we'll be with you throught the day.

    Coming up at 8am we're expecting official confirmation from Honda about the closure of its Swindon car plant in 2022, with the loss of about 3,500 jobs.

    At 9.30am we'll discover the latest Office for National Statistics unemployment figures for January.

    Before then in company announcements there'll be Walmart and Asda quarter four figures, and interims from BHP Billiton and the International Hotel Group, with HSBC already having issued disappointing annual results this morning.

    Please get in touch with your comments at bizlivepage@bbc.co.uk.

  9. BHP flags £465m hit on outages

    BHP truck

    BHP has warned of a "negative impact" due to unplanned production disruptions at its copper and iron ore plants.

    The world's largest miner said productivity for the second half of last year was hit by outages at Olympic Dam, Spence and Western Australia Iron Ore "with a total negative impact" of around $600m (£465m).

    BHP said it would revise productivity guidance at its 19 February results briefing.

  10. Why did the BHP train run away?

    Chris Johnston

    Business reporter, BBC News

    A BHP Billiton train carrying iron ore in Australia
    Image caption: A BHP Billiton train carrying iron ore: Not the runaway culprit

    BHP Billiton has blamed brake failure for a runaway train laden with iron ore that sped through the Australian outback for almost 90 minutes earlier this month and had to be derailed remotely.

    The train took off after the driver got out to make an inspection, travelling at speeds of almost 70 miles an hour in the Pilbara region of Western Australia.

    Following a preliminary internal investigation, BHP said the train initially stopped due to a disconnected cable controlling the braking system, but then started moving as the emergency brake was not engaged. It has not explained why the emergency brake was not on.

    Derailing the four-locomotive train damaged about a mile of track but no one was injured.

    The Australian Transport Safety Bureau is investigating the incident.

    Here's a video of the aftermath from 7 News in Perth:

    View more on twitter
  11. BHP to return $10.4bn to shareholders

    A BHP Billiton truck

    FTSE-listed miner BHP Billiton will return $10.4bn (£8.1bn) to shareholders through a buyback and special dividend.

    Under the $5.2bn buyback programme, the firm can purchase shares at up to a 14% discount, it said in a statement.

    The move is in line with an earlier pledge to hand back proceeds of the sale of its US shale business.

    Miners have faced pressure to hand money back to investors following years of big project spending fuelled by the commodity boom.

  12. BHP's net profits fall 37%

    Samarco mine

    The world's largest mining company has reported a 37% drop in net profits for the year to $3.7bn (£2.9bn).

    BHP Billiton was hurt by costs related to the Samarco mine disaster in Brazil, as well as the sale of its US shale oil and gas assets to rival BP.

    But its profits in the year to the end of June - stripping out these one-off costs and losses - jumped by a third from $6.7bn to $8.9bn.

    It marks a four-year high in underlying profits and owes much to a global rebound in strong commodity prices.

  13. Hikma shares jump on raised sales forecast

    Woman in laboratory

    Miners dominate the FTSE 100 fallers this morning, led by BHP Billiton down 1.3% at £16.78.

    Advertising giant WPP is the biggest blue chip riser, up 1.8% at £12.46.

    The wider FTSE 100, however, has trimmed gains and is now up 3.06 points at 7,614.70.

    Shares in Hikma Pharmaceuticals soared by 8.6% to £17.88 on the FTSE 250 after it raised its sales forecast for the full-year.

    It said it had sold more injectable opioids in the US and had a better-than-expected performance in generics for the first half of the year.

    The FTSE 250 rose 0.29% to 20,568.95.

  14. BHP Billiton reaches settlement over Samarco disaster

    The Samarco dam disaster wreaked havoc over hundreds of miles of land in Brazil
    Image caption: The Samarco dam disaster wreaked havoc over hundreds of miles of land in Brazil

    BHP Billiton has reached a $50m settlement with a group of shareholders following the Samarco dam disaster in Brazil during 2015.

    The mining giant also announced that a court in Brazil had approved an agreement with Brazilian authorities that settled a $5.3b lawsuit over the failure.

    Brazil's worst environmental catastrophe killed 19 people when a dam, which was designed to hold back mine waste burst.