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Swiss mining giant Xstrata PLC made an unsolicited $10 billion cash offer for platinum producer Lonmin PLC which immediately rejected the offer as too low. After Lonmin's initial rejection, Xstrata increased its stake in the company by 2.65% to 10.68%. Negotiations are expected to continue. Article discusses consolidation trends in the mining sector.

Because of strong steel demand and price increases, steelmaker Arcelor Mittal reports that second-quarter net profit more than doubled to $5.8 billion. Arcelor Mittal's steel shipments increased by 4% while sales grew by 39%. Article discusses the company's price negotiations with clients, and revenue prospects for the rest of 2008.

Helped by rising demand and price increases, U.S. Steel Corp.'s second-quarter net income more than doubled to $668 million while sales grew 60% to $6.74 billion. U.S. Steel's shares rose 14% to close at $165.76 on the New York Stock Exchange. Because of additional planned price hikes, the company expects to post strong results for its third fiscal quarter.

Weak aluminum prices and higher production costs are expected to cut into Alcoa Inc.'s second-quarter earnings. Article discusses stock analysts' revision of Alcoa's per-share estimated profit, and Alcoa's long-term earnings, and production prospects.

Byline: ROBERT GUY MATTHEWS In an effort to curb the relentless rise in steel prices and bolster their own frail finances, some auto makers are beginning to push back on [...]

Mining companies Rio Tinto PLC and BHP Billiton Ltd. have negotiated an 85% benchmark price increase for the iron ore supplied to Chinese steelmakers. The accord is expected to affect ongoing price talks between iron ore suppliers and buyers, raise steel prices, and fuel inflation in China.

Fearing that BHP Billiton's planned acquisition of mining company Rio Tinto may further increase steel prices and slow progress in developing nations, European authorities intensify their scrutiny of the proposed merger. Article discusses steel prices, production, demand, and the acquisition's possible effects on the international steel market.

Russian company OAO Severstal launches an all-cash bid for American steel manufacturer Esmark Inc. for $17 a share, or $1.1 billion. Article discusses Severstal's negotiations with Esmark, a rival bid from Indian company EssarSteel, and foreign steelmakers' efforts to enter the U.S. steel market.

Claiming that mining company Rio Tinto is limiting its by-contract iron ore supply to force buyers to pay higher spot market prices, Chinese steelmakers are threatening to boycott the company. Article discusses steel companies' ongoing price negotiations with mining companies Rio Tinto, BHP Billiton, and Companhia Vale do Rio Doce in China, as well as opportunities for other iron ore providers to access the Chinese market.

Global steel prices have increased 40% to 50% since December and are expected to continue on the rise affecting construction projects, oil and gas exploration, and shipbuilding. Article discusses future steel prices, present international steel demand, and profit, sales, and production by individual steel manufacturer.

Byline: ROBERT GUY MATTHEWS Chinese steel makers are considering a boycott of Rio Tinto PLC, accusing the miner of limiting its lower-priced contract-supplied iron ore in order to force buyers [...]

Despite rising commodity prices, aluminum maker Alcoa is expected to post a lower first-quarter net profit in 2008 than its first-quarter profit in 2007. Article discusses decreased aluminum demand, and Alcoa's recent disinvestments and international sales.

Steelmaker Evraz Group S.A. agrees to buy Ipsco Inc.'s pipe and tubes business assets in North America for $4.03 billion. Article discusses Evraz Group's recent acquisitions, investments, and strategies to become a major contender in the global steel sector.

Japan's Fair Trade Commission and the European Union have together launched informal discussions as to whether a merger between Australian mining firms BHP Billiton Ltd. and Rio Tinto Ltd. would create an entity with excessive power over iron ore prices. BHP has sweetened its offer for Rio Tinto with an all-stock bid valued at $147.4 bil; however, Rio Tinto's board rejected it.

Australian mining company Rio Tinto Ltd. has rejected a raised bid from rival BHP Billiton Ltd., a deal that values each Rio Tinto share at 3.4 BHP shares and places the offer at $147.4 bil. If eventually successful, the deal would become one of the largest takeovers ever worldwide. Rio based its rebuff on strong commodity demand and higher prices projected for mining products.

US-based Alcoa Inc. and Aluminum Corp. of China have joined together to purchase a minority 12% stake in Australian mining firm Rio Tinto Ltd. for $14.5 bil. The deal may complicate an offer made by BHP Billiton in November 2007 to buy Rio Tinto.

Byline: ROBERT GUY MATTHEWS; Kris Maher in Pittsburgh contributed to this article WEST ANGELAS, AUSTRALIA -- In a move that could increase its profit but raise costs for its largest [...]

Steelmaker Arcelor Mittal will spend approximately $1.7 bil to increase its stake in China Oriental Group Co. If the deal is approved by China's regulators, Arcelor Mittal will become the second-biggest shareholder in the firm. The proposal includes sharing acquisition and merger expertise and technology.

Byline: ROBERT GUY MATTHEWS In an effort to shift rising energy and raw materials costs to customers, steel giant ArcelorMittal plans a series of price increases ranging from 6 per [...]

Third-quarter net profit for Dutch steel company Arcelor Mittal rose 36% to $2.96 bil, driven by robust demand in India and China, which have increased steel prices. Revenue rose by 16% to reach $25.52 bil.

The world's biggest mining firm, Australia's BHP Billiton Group, made a $142 bil offer for Rio Tinto Ltd., which turned down the bid. BHP has indicated it would continue to bid, setting up what could possibly be the second largest ever merger deal by value and creating the globe's biggest producer of aluminum and copper.

Byline: ROBERT GUY MATTHEWS The world's steel makers are facing significantly higher costs in 2008, with iron-ore giants set to demand a 50-per-cent price increase as shipping fees and the [...]

Byline: ROBERT GUY MATTHEWS DUBAI -- With energy prices steadily increasing, the world's biggest aluminum companies are investing heavily to secure dedicated power sources, at times buying local power plants [...]

United States Steel Corp. will buy Canadian firm Stelco Inc. in a $1.1 bil deal that values Stelco at US$36.59 per share. The deal will boost U.S. Steel's automotive-grade steel from 18% to 22% of shipments.

A merger between French steelmaker Arcelor S.A. and its Dutch counterpart Mittal Steel Company N.V. may be delayed if a minority group of Arcelor shareholders are successful in claiming they are being coerced into accepting a low bid for their shares. The minority group, which includes Trafalgar Entropy Fund, Trafalgar Catalyst Fund, and SRM Global Master Fund Limited Partnership, have filed their lawsuit in a Dutch court, while another small group of individual shareholders have filed their suit in a French court.

GlaxoSmithKline PLC of the United Kingdom is to pay out $3.4 billion to the United States Internal Revenue Service for an outstanding taxation dispute running for the last 20 years. The dispute concerned overpayments for products by the American subsidiary to its British pharmaceutical parent company. The Internal Revenue Service is winning the battle of corporate tax avoidance.

Vincent Bollore has gained representation on the 18 member board of directors at Havas S.A. after a ten month battle with Chairman Alain de Pouzilhac who has been lobbying shareholders against the corporate raider. The advertising firms future direction is unclear.

The United Kingdom marketing industry has targeted British youth or Chavs, with bawdy advertising. Chavs are lower-class young men and women who have little overhead who mix flashy attitudes with accessories and designer clothing.

Jose Luis Duran new Chief Executive Officer of Carrefour S.A. is planning to increase consumer spending by decreasing international expansion, remodelling store formats and increasing product selection.

Grocery retail in the European Union saw major strategic revamping over 2004, however stock prices have been down. There is renewed vigor in grocery retail shares projected for 2005.

Chief Executive Officer Daniel Bernard has resigned Carrefour S.A. Under his management the global retailer expanded to approximately 10,000 department stores in 30 countries. However, the French home market problems with price cutting competitors and decreased market share led to the resignation of Daniel Bernard.

Chief Executive Officer Daniel Bernard of the world's second largest retailer Carrefour S.A. is expected to resign. There have been struggles for market share with discount chains and disagreements with some major shareholders. He is responsible for transforming the international retailer into a rival of Wal-Mart Stores Inc.

The London Stock Exchange PLC with low profile and lack of brand recognition, has fended off an acquisition attempt from Deutsche Borse AG.

British advertisers are eagerly using the image of Elvis Presley in marketing campaigns.

Carrefour S.A.'s decision to sell its Japanese operations, after opening its first Japanese store in 2000, has analysts questioning whether the company should have joined with a local business partner.

French-based retailer Carrefour S.A. hopes to make as much as $400 million from the planned sale of its stores in Japan. The company, which is the second-largest retailer in the world, has seen its sales slump and market share decrease due to increased competition in Europe from such rivals as Wal-Mart Stores Inc.