Australia's Fortescue Metals Group Ltd will change its roster to increase the time workers spend at mines, as the world's fourth largest iron ore producer rushes to reduce costs in the face of plunging prices for the steelmaking ingredient.
Industry
U.S. housing starts data underperforms; jobless claims rise
U.S. housing starts rose far less than expected in March and factory activity in the mid-Atlantic region grew modestly this month, suggesting the economy could struggle to rebound from a soft patch hit in the first quarter.
China March FDI robust at $12.4 billion, outbound flows up 29.6 percent in first-quarter
Foreign direct investment (FDI) into China rose 2.2 percent on the year in March, while outbound flows posted a milder rise, as foreign corporate investors remain undeterred by China's weakening domestic economic performance.
Mining, utilities sink U.S. industrial production
U.S. industrial output posted its biggest drop in more than 2-1/2 years in March in part as oil and gas well drilling plummeted, highlighting the negative impact of lower crude prices and a strong dollar on the economy.
Dollar gains against euro on dovish ECB; weak U.S. data caps gains
The U.S. dollar rebounded against the euro on Wednesday after the European Central Bank reiterated its dovish stance on monetary policy, though weaker-than-expected U.S. economic data limited the dollar's advance.
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China's export sales contracted 15 percent in March, a shock outcome that deepens concern about sputtering Chinese economic growth.
Nearly a quarter of the world's major copper mines are running in the red, even after producers including Codelco [COBRE.UL] and BHP Billiton engage in their deepest cost-cutting in years, according to a Reuters analysis.
Germany's BDI industry association is more optimistic about the prospects for Europe's biggest economy than it was three months ago due to cheap oil, strong private consumption and a weak euro, its president said on Sunday.
China and Afghanistan remain deadlocked over a stalled $3 billion copper mine five months after Beijing demanded royalties be slashed by almost a half, underlining Kabul's struggles to support itself as foreign aid dries up.
Two leading Russian film directors are seeking state support to set up a domestic chain of cafes to compete with Western fast food restaurants such as McDonald's, a newspaper said on Thursday.
U.S. import prices fell in March as rising petroleum costs were offset by declining prices for other goods, a sign of muted inflation that supports the view the Federal Reserve will probably not raise interest rates in June.
Some of the biggest dollar bulls in the global bond fund sector have reversed course in recent weeks, cutting exposure to the greenback amid concern the U.S. Federal Reserve will delay a widely-anticipated interest rate hike.
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Euro zone sentiment improved for the sixth straight month in April as investors took heart from the European Central Bank's bond-buying program, raising the current situation component of the Sentix index to its highest in almost four years.
