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BHP misses full-yr iron ore guidance by 3mn/t SYDNEY: BHP Billiton said on Wednesday it fell three million tonnes short of its iron ore production guidance for fiscal 2016 due to its Samarco disaster in Brazil. The world No. 3 miner of the steelmaking ingredient said fourth-quarter output reached 55.6 million tonnes, pushing the annual total to 257 million tonnes against guidance of 260 million. Production for the current financial year is forecast to increase to between 265 million tonnes and 275 million tonnes, all from the company's Western Australia mines, it said. BHP earlier this year cut its Western Australia iron ore production for the year to June 30, 2016 by 10 million tonnes to 260 million tonnes, blaming a cyclone that ripped through the Pilbara iron ore region in January coupled with accelerated railway maintenance work. BHP cited for the lower output a halt to production from its half-owned Samarco iron ore business in Brazil in ...

Business & Finance - Industries & Sectors

Volkswagen execs named in new emissions lawsuits NEW YORK: New York and Massachusetts filed lawsuits Tuesday against Volkswagen that suggested that senior executives were aware early on of efforts to hide high emissions levels in the company's diesel cars.As early as July 2006, the German automaker's inability to comply with US emissions standards allegedly "reached the attention" of Matthias Mueller, the current Volkswagen CEO, and his predecessor Martin Winterkorn, according to complaints lodged Tuesday by both states' attorneys general.But the company nevertheless ...

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Netflix announces new episodes of 'Making a Murderer' LOS ANGELES: Netflix said on Tuesday it was filming new episodes of its headline-grabbing true crime series "Making a Murderer."The first 10-part series told the story of Steven Avery, from Wisconsin, who is serving a life sentence for murdering 25-year-old Teresa Halbach, after her remains were found close to his home.Avery served 18 years in prison for a sexual assault before being exonerated and released in 2003 -- but was charged in 2005 and convicted ...

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EU slaps truck cartel with record 2.93bn euro fine BRUSSELS: The EU slapped a record fine of 2.93 billion euros on five of Europe's biggest truck-makers, accusing them of colluding over 14 years to fix prices and dodge the costs of stricter pollution rules."Daimler, DAF, Iveco, MAN and Volvo/Renault cartelised medium and heavy trucks. Now they have to pay a fine of almost 3 billion euro in total," EU Competition Commissioner Margrethe Vestager tweeted.Copyright AFP (Agence France-Presse), 2016 ...

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Indonesia says Yamaha, Honda motorbike distributors in suspected price-fixing JAKARTA: Indonesia's anti-monopoly agency said on Tuesday that two separate distributors of Yamaha and Honda motorbikes in the country are suspected of price-fixing. PT Yamaha Indonesia Motor Manufacturing and PT Astra Honda Motor are suspected of agreeing to set prices for automatic scooters with an engine capacity of 110-125 cubic centimetres, Frans Adiatma, an official at the Indonesian Business Competition Supervisory Commission (KPPU), told reporters.When contacted, Yamaha Indonesia Motor Manufacturing's spokesman denied it had tried ...

Business & Finance - Industries & Sectors

Samsung goes all Olympics with the latest edition Globe largest sporting festival, the Olympics is just days away as the Olympic fever rises, Samsung wants you to fell like an Olympian with its limited edition Olympic theme Galaxy S7 edge.As per TechCrunch, the South Korean smartphone maker which is also an official Olympics partner, has initially created this special, limited edition version of its high end smartphone for the 12,500 Olympians. But it is now learnt that as of today Samsung would release ...

Business & Finance - Industries & Sectors

Novartis warns 2016 profit may fall on higher heart drug spending ZURICH: Novartis warned on Tuesday its profit may decline this year as it ramps up marketing spending on new heart failure drug Entresto following a disappointing start for the medicine. Combined with falling sales of leukaemia treatment Gleevec, core operating income will be "broadly in line with the prior year or decline low-single digit" at constant currencies, it said. It had previously said profit would be roughly the same.The world's biggest prescription drugmaker, which reported ...