WHAT THE OTHER PAPERS SAY THIS MORNING May 10, 2012 FINANCIAL TIMES Qatar targets 10 per cent of Xstrata Qatar’s sovereign wealth fund plans to buy at least 10 per cent of Xstrata as part of a long-held strategy to invest in Glencore, suggesting the Gulf state could provide crucial support to the pair’s $90bn merger deal. Several of Xstrata’s shareholders said they would oppose [...]
Glencore close to sealing Bakrie rescue deal October 13, 2011 Glencore, the world’s biggest commodities trader, is expected to sign a deal within days for a $800m (£508m) loan to Indonesia’s Bakrie Group to help it refinance a $1.35bn facility that became unexpectedly due, sources said on Thursday. In return, Glencore will be given the right to sell more coal produced by Bakrie-controlled Bumi and [...]
Glencore close to sealing Bakrie rescue deal October 13, 2011 Glencore, the world’s biggest commodities trader, is expected to sign a deal within days for a $800m (£508m) loan to Indonesia’s Bakrie Group to help it refinance a $1.35bn facility that became unexpectedly due, sources said on Thursday. In return, Glencore will be given the right to sell more coal produced by Bakrie-controlled Bumi and [...]
Eurozone concerns and football bid war keep FTSE pinned back June 14, 2012 The FTSE 100 fell back in early trading, reversing the previous session’s gains, with Eurozone concerns dominating after Spain’s debt rating was downgraded and Italy faces up to a crucial bond auction. Last night credit ratings agency Moody’s slashed its rating on Spanish government debt by three notches to ‘Baa3’ from ‘A3’, saying the newly-approved [...]
Glasenberg adds to stake in Glencore September 19, 2011 GLENCORE boss Ivan Glasenberg has made another show of confidence in the commodity trader, buying almost £13.5m of shares to add to his holding as part of a plan to use his dividend income to buy more shares. Glasenberg, who announced last week he had bought £10m of shares and would buy more, bought another [...]
Louis Dreyfus set to tap capital markets as buying spree looms May 14, 2012 LOUIS Dreyfus, one of the world’s largest commodity firms, is set to issue bonds for the first time in its 160-year history. The food trading house aims to raise the cash as it plans a series of acquisitions as part of a $7bn (£4.3bn) spending programme. It intends to raise its investment by 40 per [...]
Heritage spends £541m on oil assets in Nigeria July 1, 2012 HERITAGE Oil is spending $850m (£541m) on assets in Nigeria, Africa’s biggest oil producer, the firm announced yesterday. The firm will buy a 45 per cent in the OML 30 fields from Shell, Total and Eni in a bid to diversify. The firm has endured frustratingly slow progress at its Kurdistan wells, which has weighed [...]
Eurozone fears see FTSE 100 fall to fresh 2012 low May 9, 2012 UK equities slumped to their lowest level this year yesterday and faced further losses amid downbeat corporate reports and concerns about the health of the Eurozone, Britain’s biggest export market. Shares in several big companies – including oil major BP and drug maker GlaxoSmithKline – went ex-dividend, meaning investors buying them from now on will [...]
Eurozone fears see FTSE 100 fall to fresh 2012 low May 9, 2012 UK equities slumped to their lowest level this year yesterday and faced further losses amid downbeat corporate reports and concerns about the health of the Eurozone, Britain’s biggest export market. Shares in several big companies – including oil major BP and drug maker GlaxoSmithKline – went ex-dividend, meaning investors buying them from now on will [...]
Credit Suisse braced for a further reduction in costs June 11, 2012 THERE was some positive news for Credit Suisse yesterday as the investment bank announced its role as joint lead manager of one of the larger share issues in Europe this year. Along with UBS, its arch rival, Credit Suisse is joint global co-ordinator and joint bookrunner for Deutsche Wohnen’s €475m (£383m) rights issue to help [...]