BHP Billiton Ltd., the world’s biggest mining company, named copper unit head Andrew Mackenzie as chief executive officer to succeed Marius Kloppers, who failed to deliver on about $200 billion of potential takeovers.
Westpac Banking Corp., Australia’s second-largest bank, reported first-quarter profit that was lower than a year earlier as rising funding costs squeezed the profitability of its lending. The shares fell.
When BHP Billiton Ltd.’s new chief executive officer Andrew Mackenzie got his doctorate in chemistry in 1980, the ground-breaking research attracted the attention of oil producers including Chevron Corp.
Asian stocks rose, driving the MSCI Asia Pacific Index up by the most in five weeks, as better-than- estimated results from Elpida Memory Inc. and Apple Inc. boosted confidence in the global economic recovery.