February 17, 2021 - Biz in 60

Business in 60 Seconds

Rio Tinto to pay record $6.5B dividend as profit soars Rio Tinto has rewarded investors with the biggest dividend in its history after higher iron ore prices boosted its full-year earnings. The Anglo-Australian miner will pay a final dividend of 6-and- a-half billion dollars to shareholders, taking its total payout for the year to 9-billion dollars. Net profit jumped 22-percent last year to 9-point-8 billion dollars. EU court rejects Ryanair challenge against airline aid Ryanair has lost its legal fight against bailouts that were granted to rivals Air France and Sweden's SAS through national schemes. The EU's general court said those funds didn’t break state aid rules because they were designed to help the carriers through the pandemic. The Irish budget-carrier says it will appeal the ruling to the bloc's top court. Jeff Bezos reclaims title as world's richest person Amazon founder Jeff Bezos has overtaken Elon Musk to reclaim his title as the world's richest person with a net worth of around 191-billion dollars. That comes after Tesla shares fell 2-and- a-half percent, slashing its chief executive's net worth by 4-point-6 billion dollars. Last month, Musk had surged to the top spot on the Bloomberg Billionaires Index ranking