Bluescope`s new CEO faces weaker earnings as energy costs bite
(WorldNews Business)

(Adds CEO comments, share price drop) MELBOURNE, Aug 21 (Reuters) - Australia`s Bluescope Steel warned on Monday of a steep drop in earnings in the current half due to import competition and soaring energy costs, sending its shares down by more than 20 percent. Australia`s biggest steel manufacturer also cited weaker margins from its operations in the United States for the fall. Bluescope`s stock was down 21.7 percent at A$11.04 a share by 0122 GMT, despite Chief Executive Paul O`Malley telling an analysts` call that the company was addressing the `macro headwinds` affecting the company. `We are on a path to fix that,` O`Malley said....