Keep an eye on Fortescue in Sydney tonight. Days after their promotional management insisted all was well with the mining business, the company slashed capital spending plans and then sold a power station to raise cash, resulting in a 2-day 12.4% slide in shares. Now the company - heavily leveraged to Chinese steel demand - is apparently on the horn to convince lenders to take a piece of a $1.5B loan.
From other sites
at CNBC.com (Apr 16, 2014)
at CNBC.com (Mar 7, 2014)
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