Business News
Giant miner Rio Tinto's profit slides
Aug 20, 2009, 11:44 GMT
Sydney - Anglo-Australian miner Rio Tinto Ltd posted a first-half net profit of 2.9 billion Australian dollars Thursday.
The figure was 65 per cent down on the equivalent period last year, reflecting the cost of servicing its massive debts and the collapse in commodity prices.
Chief executive Tom Albanese said 16,000 jobs had been cut in the first half of 2009.
'Whenever anyone has to go through redundancies it's a difficult thing,' he said. 'There's not only the personal question involved, but you've also got to deal with the loss of capabilities.'
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
