BHP Billiton: Interim result 2014

BHP reported not only higher profits but a change of strategy. The company will look very different in the years to come, says Gaurav Sodhi

When the world's largest mining company boasts of cutting costs and boosting productivity while neglecting to mention Chinese growth or indeed its own profits, you can be sure the boom has ended. BHP Billiton’s half-year result impressed but it was more important for the change it heralded rather than the numbers it presented.

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