The Asia Pacific mines said to have stymied merger talks by Barrick Gold Corp. and Newmont Mining Corp. would rank as the world’s fifth-largest producer if spun off and be worth about $4 billion based on comparable deals.
An El Nino will probably start as soon as July, according to the Australian government forecaster, strengthening predictions for the event that can affect weather patterns worldwide and roil commodity prices.
West Texas Intermediate crude declined from its highest closing level in seven weeks on estimates that U.S. supplies rose last week. Brent slipped as U.S. Vice President Joe Biden met with Ukrainian leaders.
Hamish Maxwell, who steered Philip Morris Cos. in its 1985 purchase of General Foods Corp. and 1988 takeover of Kraft Inc., milestones in transforming the tobacco company into a consumer products conglomerate, has died. He was 87.