Rio Tinto earnings slump to 12-year low, cautious on second-half

Global miner Rio Tinto reported a 47 percent slump in first-half profit to its weakest in 12 years on Wednesday, and surprised the market with a higher than expected dividend. New Chief Executive Jean-Sébastien Jacques said he was focused on shoring up the company by cutting costs to withstand "uncertain and volatile markets" through the rest of this year.