Glencore and Xstrata post output drop February 12, 2013 COMMODITIES trader Glencore and Xstrata, in the final stages of a £56bn mega-merger, yesterday posted a drop in combined output across key metals including copper. The two companies’ combined production figures, released by Glencore yesterday, show a nine per cent annual drop in copper output in 2012, and a one per cent fall in zinc [...]
Bottom Line: Mining shares set for rollercoaster ride August 20, 2013 AS EVER, mining stocks yesterday gave a pretty clear picture of how investors were feeling. But this time – in addition to the ever-present spectre of Fed uncertainty and slowdown in Chinese material demands – there were more tangible reasons for their concern. BHP Billiton and Glencore Xstrata fell 1.7 per cent and 1.6 per cent [...]
US regulator issues subpoenas over metals warehouse probe August 13, 2013 THE STATES-SIDE probe into the metals warehousing industry intensified yesterday, after it emerged that the US commodities watchdog has subpoenaed a number of firms including Swiss commodities giant Glencore. The US Commodity Futures Trading Commission (CFTC) sent the subpoenas last week, sources familiar with the matter said, after a letter from the regulator last month [...]
Glencore’s Glasenberg attacks record of mining industry CEOs February 26, 2013 IVAN Glasenberg, the billionaire boss of commodity giant Glencore, has launched a blistering attack on mining industry executives, saying they have “really screwed up”. He told investors that industry CEOs made the “catastrophic” decision to over-invest in new mines, pushing down prices at the expense of shareholder returns. “We’ve always been wanting to keep building and [...]
Glencore-Xstrata base metal output dips February 12, 2013 Commodities trader Glencore and Xstrata, in the final stages of a £56bn mega-merger, this morning posted a drop in combined output across key metals including copper. The two companies’ combined production figures, released by Glencore this morning, show a nine per cent annual drop in copper output in 2012, and a one per cent fall [...]
BHP latest miner to tap debt market with new $5bn bond September 26, 2013 FTSE 100-listed miner BHP Billiton yesterday priced a $5bn (£3.1bn) bond and said it would use the proceeds for “general corporate purposes”. The debt issuance is BHP’s largest in over a year and the firm’s first US debt sale since February 2012. The new debt facility comprises $500m floating rate notes due 2016, $500m 2.050 [...]
Caracal cheers strong start as it joins the FTSE August 19, 2013 OIL EXPLORER Caracal Energy said yesterday it has enjoyed a “transformational” start to the year as it pressed on with production and joined the London stock market. The Chad-focused firm, which is based in Canada but has gained approval for its shares to be included in the FTSE UK index, said it ended the second [...]
Infinis to lure investors with £55m payout October 21, 2013 INFINIS Energy, the UK’s biggest independent wind power generator, yesterday unveiled plans to pay a healthy £55m maiden dividend to investors as part of its stock market flotation plans. The business, which is owned by Guy Hands’ private equity firm Terra Firma, is floating a third of the business on the London market next month [...]
What the other papers say this morning – 22 October 2013 October 21, 2013 FINANCIAL TIMES Bundesbank warns on apartments The Bundesbank has warned that apartment prices in Germany’s biggest cities could be overvalued by as much as 20 per cent, stepping up its concern about a real estate boom there. Obama admits botched health launch Barack Obama, who forged his political career by harnessing the power of the [...]
Women land a quarter of new directorships October 6, 2013 WOMEN are taking a quarter of new appointments to the boards of FTSE 100 companies, according to figures released today by a group pushing for greater equality at the top of public companies. All but six firms at the top level of British business now have a women on their board. Campaigners said business is [...]