ViiV Healthcare: GSK share price rises as it scraps plans for £17bn HIV drugs spin-off which would have been one of the biggest IPOs this decade May 6, 2015 Pharma giant GSK (aka GlaxoSmithKline) has abandoned plans for an IPO of its HIV medicines division, it said today. In first quarter results published today, the company said its decision to hang on to ViiV Healthcare reflected an "updated strong positive outlook". Analysts at Jefferies have said ViiV could be valued at as much as [...]
Post-vote bump fades but Royal Mail delivers – London Report May 11, 2015 LAST week’s relief rally from the unexpectedly strong Conservative General Election victory petered out to leave the FTSE 100 relatively flat by yesterday’s close. The trading day was dominated by central-bank decisions, with the Bank of England keeping interest rates on hold at 0.5 per cent and a cut in Chinese interest rates supporting commodities [...]
City Moves for 20 April 2015 | Who’s switching jobs April 19, 2015 Colliers International Mark Phillips has been appointed director within the commercial real estate firm’s hotel and resorts consulting team. He has 25 years’ experience in the sector, and was previously a director at HLT Consulting. Phillips has also held roles at Horwath UK and Horwath & Horwath. JP Morgan Asset Management Gilles Drukier has been [...]
Ruspetro and Glencore sign oil deal May 27, 2014 Siberian oil producer Ruspetro yesterday said it has signed a one-year deal worth 750m roubles (£13m) to deliver 1,680 barrels of oil per day to Energo Resurs, a subsidiary of Glencore. “This facility is part of the company’s ongoing cash flow management and broadens our partnership with Glencore to include a prepayment facility for domestic [...]
End of an era as Glencore names Patrice Merrin as first female director June 26, 2014 The last bastion of male-only boards at a blue-chip company fell yesterday when Glencore Xstrata appointed Patrice Merrin as its first female director. The Anglo-Swiss mining and trading giant had come under heavy criticism from the government, its shareholders and Club 30% – which aims to get FTSE 100 boards to be made up [...]
Rio Tinto announces capital return, buys back $2bn in shares February 12, 2015 The figures Rio Tinto shareholders are waking to the news they had been waiting for: the miner will conduct a $2bn (£1.3bn) share buyback. In the miner's full year results, published today, Rio Tinto revealed its underlying earnings had dropped to $9.3bn for the 12 months ending 31 December 2014, down from $10.2bn in 2013. [...]
Simon Murray stands down as boss of Gulf Keystone Petroleum March 31, 2015 Oil firm Gulf Keystone Petroleum revealed yesterday that its colourful chairman Simon Murray is to retire. Ex-Glencore chairman Murray has had a varied past, which includes a stint in the French Foreign Legion. He previously led Li Ka-Shing’s Hutchison Whampoa for 10 years, and is famously known for having once been chased by a leopard. [...]
Children’s Fund gets 6.7 per cent of Spanish airport operator Aena February 18, 2015 The Children’s Investment Fund Management (TCI) took a 6.7 per cent stake in Spanish airport operator Aena in the company’s listing last week, stock market data revealed yesterday. The move sees TCI, run by British hedge fund manager and philanthropist Sir Christopher Hohn, become the Aena’s second largest investor after the Spanish government, which holds [...]
Glencore share price higher as miner’s appointment frees FTSE 100 of all-male boards June 26, 2014 Miner Glencore Xstrata has finally appointed a woman to its board of directors, and investors seem to like the news. Shares moved around one per cent higher in early trading as the miner finally responded to pressure, adding mining veteran Patrice Merrin to its board with immediate effect. Merrin brings with her a wealth of [...]
Glencore boosts copper output in first quarter May 6, 2014 COMMODITIES miner and trader Glencore Xstrata yesterday posted a 24 per cent rise in first-quarter copper output, after expanding its operations at two mines. Among diversified miners, the FTSE 100-quoted firm has the biggest exposure to copper, which accounted for almost half of its earnings last year. It added that the performance of its marketing [...]