Potash Corp. of Saskatchewan Inc.’s decision to cut 18 percent of its workforce and reduce capacity probably foreshadows similar actions by North American rivals amid a price war in the $20 billion global potash market.
Rio Tinto Group, the world’s second- biggest mining company, will cut capital spending to about $8 billion in 2015, less than half its outlay last year, as mineral producers conserve cash after prices fell.
China has sparked an increase in tensions with neighboring countries by establishing an air defense identification zone over waters and islands off its east coast also claimed by Japan and Taiwan. When it announced the zone Nov. 23, China’s Defense Ministry said aircraft entering the zone must identify themselves and report flight plans to its government.
Ukrainian protesters and police clashed after hundreds of thousands defied a ban on rallies, ratcheting up pressure on President Viktor Yanukovych after he refused to sign an agreement with the European Union.
Opponents of Ukrainian President Viktor Yanukovych blocked state buildings and thousands of demonstrators crowded streets in subzero temperatures to protest his refusal to sign a European Union trade accord.
Ukrainian police clashed with demonstrators after hundreds of thousands of people protested against President Viktor Yanukovych’s refusal to sign a deal bringing the former Soviet state closer to the European Union.
Japan and South Korea flew military aircraft through a new air-defense zone claimed by China, testing the country’s resolve to control a swath of the East China Sea at the heart of a territorial dispute between the nations.