Category Archives: News

Fortescue’s future uncertain after Twiggy’s failed debt financing

Michael Sainsbury Fortescue Metals Group’s share price is down again — and there is no relief in sight. The sheer ineptitude of Fortescue Metals Group — ably advised by Swiss investment bank Credit Suisse, it’s well worth noting — failing not once, but twice, in two weeks to tap the markets for US$2.3 billion not only beggars belief, but raises serious

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When Henry met Rio

John Garnaut Fairfax Digital, March 29, 2015 American statesman Henry Kissinger pocketed close to US$5 million ($6.4 million) for guiding mining giant Rio Tinto to wash its hands of its jailed China chief, Australian citizen Stern Hu, and build relations with Bejing. Fairfax can reveal that the 92-year-old former US secretary of state made clear

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China bolsters Pacific credentials by rushing cyclone aid to Vanuatu

Robert Barber When Cyclone Pam, an extremely destructive category 5 storm, crashed into Vanuatu at the weekend, it wreaked havoc killing at least 50 people. China was quick to join the South Pacific’s traditional financial guardians Australian and New Zealand in offering aid. According to the Australian Bureau of Meteorology three tropical cyclones were active

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Fortescue Metals moves to rescue falling share price, but too late?

   Michael Sainsbury Crikey, crikey.com.au, March 13, 2015. Andrew “Twiggy” Forrest’s Fortescue Metals Group will need to move soon if it’s to avoid serious financial strife caused by the ongoing downturn in the global iron ore market. The world of Fortescue Metals Group can be a strange place. It is seeking to raise $2.3 billion

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