Vale News
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Updated 44 minutes ago
Ibovespa futures declined as Brazil’s unemployment rate unexpectedly increased in April and signs that growth is slowing in China pushed commodities lower, dimming the outlook for raw-material exporters.
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Sao Paulo Mayor Fernando Haddad is lobbying for federal aid to triple investment in Latin America’s largest city to 6 billion reais ($2.9 billion) a year by 2016.
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Metso Oyj, a Finnish maker of rock crushers and mineral-processing equipment, fell the most in seven weeks after Danske Bank A/S urged clients to sell the stock after Australian suppliers signaled weaker mining demand.
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Brazilian President Dilma Rousseff will have support in Congress to raise taxes on mining companies even as she struggles to win backing from her allies on other key measures, said Antonio Anastasia, governor of Minas Gerais state.
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Transfield Services Ltd., an Australian engineering and maintenance company, trimmed its full-year profit forecast by almost a third and cut 113 jobs as the mining boom slows and customers delay projects.
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Emerging-market stocks advanced to a one-week high as a stronger Japanese currency lifted global exporters. The Jakarta Composite Index surged to a record.
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BSG Resources Ltd., the mining company controlled by Israeli billionaire Beny Steinmetz, called on U.K. Prime Minister Tony Blair to help get two of its employees released from “illegal detention” in Guinea.
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Emerging-market technology stocks rose on better-than-estimated earnings at Tencent Holdings Ltd. Russian and Brazilian shares fell led by commodity producers.
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Mosaic Co., the second-largest North American producer of potash, said it sees itself remaining an independent company once it resolves the ownership of about $8 billion of stock previously held by Cargill Inc.
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Vale SA, the world’s biggest iron-ore producer, said it restarted coal transport from its Moatize mine in Mozambique’s northwestern Tete province today.
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