Oil tanker firm Frontline (FRO)'s earnings are in the black so far in the first quarter despite strong headwinds from low freight rates, it's top executive said on Thursday.
"We are at current rates still running at a profit," Chief Executive Robert Hvide Macleod told a news conference.
(Reporting by Victoria Klesty, editing by Terje Solsvik)
The Australian share market fell Friday due to the fall in banking stocks, and Rio Tinto's decline on news of failed merger talks with Glencore.
A person familiar with this matter stated that Glencore had approached Rio Tinto in late 2013 about merging the two major copper producers.
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