The Rising Influence of Rising Affluence

[DewDiligence]

BHP posts solid FY1H14 results, led by iron-ore segment:

http://online.wsj.com/news/articles/SB10001424052702304675504579389412140513376

BHP Billiton Ltd. said Tuesday its first-half profit rose, as it cut spending and squeezed more from assets including its vast Australian iron ore pits to offset a decline in global commodity prices.

… The miner's earnings from its iron-ore division rose 60% to US$6.50 billion. While the benchmark price for the commodity fell 7% over the course of last year, it was higher on average than in [fiscal] 2012.

…[CEO Andrew] Mackenzie sounded an upbeat note on the outlook for the global economy, saying risks to global growth "were skewed to the upside".

BHP’s fiscal year ends June 30.