BHP boss Andrew Mackenzie calls for G20 to slash trade barriers

BHP Billiton chief executive Andrew Mackenzie has urged the Group of 20 leaders to spend political capital on slashing populist trade barriers, according to The Australian.

Championing free trade should be “much more central” to the world’s biggest economies if global growth targets are to be met, the head of the nation’s biggest company declared.

Asciano in talks over sale of ports business stake

Ports operator Asciano is set to slash net debt if talks with Chinese state-owned corporation China Merchants to sell a minority stake in Patrick ports for more than $1 billion lead to a deal, according to the Australian Financial Review.

The company confirmed reports it was holding “preliminary” talks over the sale of a non-controlling stake in Patrick.

Asciano chief executive John Mullen has previously signalled that he is prepared to consider a sale of all of Patrick if the company received a high enough price.

Falling iron ore price tipped to drag down BHP Billiton’s earnings

BHP Billiton’s earnings could decline by as much as 14% in 2014-15 and a long-expected buyback could be delayed as the deteriorating iron ore price hits the resources group’s earnings, according to the Sydney Morning Herald.

BHP will release its fourth-quarter production results on Wednesday.

Expectations of a buyback or some other capital management exercise were building at the start of 2014 – and then came the dramatic fall in the iron ore price of almost 25% to about $98 a tonne.

Credit Suisse analyst Paul McTaggart says the prospect of sharply lower earnings in fiscal 2015 have all but ruled out a buyback or special dividend.