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Billion-dollar writedown for CITIC

CHINESE conglomerate CITIC is expecting to make a $US1.4-1.8 billion ($A1.7-2.2 billion) writedow...

Andrew Duffy
Billion-dollar writedown for CITIC

The falling iron ore price has been blamed for the massive cut, with the spot price dropping heavily over the past few months to about $68 a tonne. CITIC said the impairment was likely to be made in...

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