Mining company Rio Tinto posts 47% fall in profit
Global miner Rio Tinto reported a 47% decline in the first-half profits of 2016, its weakest in 12 years. The company's underlying earnings for the first half fell to $1.56 billion from $2.92 billion a year earlier. Blaming this on the decline in Chinese commodity markets, CEO Jean-Sebastien Jacque said China provides up to half of the company's revenue. 