South32 may bid for Anglo business

The Australian Financial Review reports South32, the aluminium, coal and manganese producer spun out of BHP Billiton last year, is considering bidding for Anglo American's $US1 billion niobium and phosphate business in Brazil, according to three people familiar with the situation.

South32 sent out requests to investment banks as it seeks to hire an adviser to assist in the bidding process, the people said, asking not to be identified because the information is confidential. Goldman Sachs Group and Morgan Stanley are managing the sale for Anglo, the people said.

Union cries foul after being escorted off ship

A bitter dispute between the union and aluminium manufacturer Alcoa has led to workers escorted off a cargo ship in the dead of the night by security guards after a a two-month stand off, according to the Australian Financial Review.

The five workers, members of the Maritime Union of Australia, were preventing the ship from setting sail from Portland to Singapore where it was being taken over by new owners.

GMP pulls pin on Australian unit, London at risk

The rout in commodity markets has claimed another set of casualties, with resources specialist GMP Securities telling local employees it will exit this market, in what is believed to be a broad retreat that may include offices in London and Houston, according to the Australian Financial Review.

The exit plan comes as GMP decides to draw a line in the sand on its exposure to the resources sector.