What's Behind BHP Billiton's Disappearing Profits?
BHP Billiton Ltd., the world’s biggest mining company, reported full-year underlying profit declined 81 percent for the worst result since 2001 after raw materials tumbled to a 25-year low in January. Underlying profit was $1.2 billion in the year ended June 30, from $6.4 billion a year earlier, Melbourne-based BHP said Tuesday in a statement. That beat the $1.04 billion average estimate among 19 analyst forecasts compiled by Bloomberg. Bloomberg's David Stringer reports and Stanhope Capital Chief Investment Officer Jonathan Bell discusses with Bloomberg's Manus Cranny on "Countdown."
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China's Worst Stocks Are Winning
43:40 - Everything old is new again. After being the worst performers for almost a decade, state-run enterprises are churning out raw materials and are back in vogue with investors. Bloomberg's Shery Ahn reports on "First Up." (Source: Bloomberg)