The world’s largest mining company BHP Billiton plans to cut its capital spending by $600 million for the 2014-15 financial year, giving the firm “additional flexibility.” It also plans to trim an additional $1 billion in spending the following year.
BT Group PLC is discussing possibly buying O2, the Telefónica SA’s mobile business in the UK. BT may also be interested in buying EE - another UK cellphone company.
More news from the UK: A new report said 146 food producers have entered insolvency in 2014. A partner at the firm said, "Supermarkets have engaged in questionable buying practices for years, but it's getting worse and clearly wreaking havoc on the UK food production sector."
Back in the US, consumers will see a price increase at RedBox movie rental kiosks. The company said it is increasing rental prices by 25% to improve its bottom line.