African miner hires former BHP and British Airways board member ahead of float October 16, 2018 South African phospate miner Kropz will go public by the end of the month and has appointed former BHP board member and JP Morgan exec Lord Renwick as chairman. Kropz announced yesterday it would list on the London Stock Exchange's Alternative Investment Market (AIM) by the end of October. The plant nutrient producer hoped its IPO [...]
BHP Billiton to nearly double stake in Ecuador copper project October 16, 2018 Global miner BHP Billiton has agreed to almost double its stake in the Cascabel copper-gold project in Ecuador. The world's largest miner has increased its stake in SolGold, the project's majority owner and operator, from six per cent to 11.2 per cent. BHP, which only bought into the project six weeks ago with the 6 [...]
BHP shareholders advised to oppose chief executive’s ‘excessive’ salary October 9, 2018 BHP Billiton shareholders have been advised to vote against the miner's remuneration report later this month on account of chief executive Andrew Mackenzie's “excessive” salary. Mackenzie was paid $4.657m (£3.55m) last year, a $100,000 pay rise on the previous year, despite missing out on his target pay package after two fatalities at BHP Billiton's mines. [...]
Unilever to stay on FTSE 100: How investors reacted October 5, 2018 Unilever’s awkward climbdown over its attempt to move its main listing to the Netherlands is unlikely to be the last, according to one financial expert, as investors reacted to the company’s decision to retain its London headquarters today. Unilever this morning pulled plans to make the Netherlands its sole headquarters and quit its UK offices, after [...]
Vodafone looks to raise €4bn of hybrid bonds to fund Liberty Global acquisition September 26, 2018 Vodafone is looking to fund its acquisition of Liberty Global’s European cable networks through issuing around €4bn (£3.6bn) of hybrid bonds. Unlike corporate bonds, hybrid bonds combine debt and equity into a single security, and are classed partially as equity by ratings agencies. This allows Vodafone to maintain its credit rating while also raising much [...]
BHP boss paid $8.1m but missed out on more after fatalities and production issues September 18, 2018 BHP Billiton's chief executive was paid $8.1m (£6.2m) last year but missed out on a higher increase due to fatalities at the company's mines and lower than targeted production. Andrew Mackenzie's total remuneration package for the year to the end of June, excluding shares payments, was $4.657m – an increase of $100,000 on the previous year. [...]
BHP boss paid $8.1m but missed out on more after fatalities and production issues September 18, 2018 BHP Billiton's chief executive was paid $8.1m (£6.2m) last year but missed out on a higher increase due to fatalities at the company's mines and lower than targeted production. Andrew Mackenzie's total remuneration package for the year to the end of June, excluding shares payments, was $4.657m – an increase of $100,000 on the previous year. [...]
FTSE 100 trades at five-month low as emerging markets continue to fall and US-China trade war looms September 6, 2018 The FTSE 100 is trading around a five-month low as emerging markets continue to fall and the trade war between the US and China threatens to escalate. Uncertainty surrounding emerging markets – including Turkey, South Africa and Argentina – and the potential escalation of a trade war between the US and China has led to [...]
BHP buys into ‘high quality’ Ecuador copper project September 5, 2018 Global miner BHP Billiton has bought a 6 per cent stake in SolGold giving it exposure to the Cascabel copper-gold project in Ecuador. The world's largest miner will buy the stake of 103.1 million shares in SolGold – Cascabel's majority owner and operator, from Guyana Goldfields for $35.2m (£27.5m), the company said today. Read more: [...]
Swiss bank UBS closes in on US rivals in FTSE 100 broker rankings September 3, 2018 Swiss bank UBS has closed the gap on its US rivals at the top of the FTSE 100 stockbroker ranking list for the third quarter (Q3), moving up to joint third place with 22 clients. UBS, which acts for blue chip companies such as oil major BP, mining giant BHP Billiton and consumer goods company [...]