Mining heiress made to reveal secret accounts January 7, 2013 ONE of the world’s richest women, mining heiress Gina Rinehart, has caved in to regulatory pressure and finally revealed the full extent of her business empire. Rinehart, executive chairman at Australian mining company Hancock Prospecting, has published two years’ worth of business accounts after giving up the fight with Australian financial watchdog the Australian Securities [...]
London float values plunge in a slow year December 16, 2012 THE VALUE of initial public offerings (IPOs) in London this year has fallen by more than 75 per cent, according to figures from financial data provider Dealogic. Over the past 12 months, there has been $4.4bn (£2.7bn) worth of deals, compared to $17.9bn during 2011. In numerical terms, there have been seven IPOs in London [...]
Calling all Mo Bros – one week left to send your best specimen November 20, 2012 BARELY more than a week left in The Capitalist’s hunt to source the fairest and furriest moustache in all the City land. As we are now past the halfway point in our hairy little challenge, it is time for an update. The Bank of America Merrill Lynch boys, who have banded together on the fundraiser’s [...]
Calling all Mo Bros – one week left to send your best specimen November 20, 2012 BARELY more than a week left in The Capitalist’s hunt to source the fairest and furriest moustache in all the City land. As we are now past the halfway point in our hairy little challenge, it is time for an update. The Bank of America Merrill Lynch boys, who have banded together on the fundraiser’s [...]
FTSE 100 rallies on US fiscal cliff deal January 2, 2013 Investors welcomed in the first trading day of the new year with a sharply higher blue chip index this morning, as the FTSE 100 rose around 90 points in early trading as US policymakers approved a deal to prevent the so-called fiscal cliff. Miners led the rally, with Eurasian Natural Resources, Rio Tinto, Anglo American [...]
Sir John Bond steps down as Glenstrata giant is born November 20, 2012 CITY grandee Sir John Bond stepped down yesterday as chairman of Xstrata, as shareholders backed the £56bn mega-merger with Glencore but snubbed controversial remuneration plans for senior executives. The retention bonus snub prompted Bond – who was set to become chairman of the enlarged group and backed the pay proposals as “fundamental” to its future [...]
EU sets deadline on Glenstrata deal as UBS backs mega tie-up October 3, 2012 THE EUROPEAN Commission has set a deadline of 8 November to decide on the £56bn mega-merger of Glencore and Xstrata, it said on its website yesterday. Glencore, which filed the notification on Tuesday, is edging closer to a merger with Xstrata. Earlier this week Xstrata directors recommended the tie-up to shareholders, who are set to [...]
EU sets deadline on Glenstrata deal as UBS backs mega tie-up October 3, 2012 THE EUROPEAN Commission has set a deadline of 8 November to decide on the £56bn mega-merger of Glencore and Xstrata, it said on its website yesterday. Glencore, which filed the notification on Tuesday, is edging closer to a merger with Xstrata. Earlier this week Xstrata directors recommended the tie-up to shareholders, who are set to [...]
Miner Gemfields snaps up luxury jeweller Faberge November 21, 2012 EMERALD miner Gemfields is to buy luxury jeweller Fabergé in a deal that values the iconic egg maker at $142m (£89m), it said yesterday. Fabergé, famous for its jewelled eggs, is being sold by Pallinghurst, which is headed by former BHP Billiton executive Brian Gilbertson, who will retain a 49.3 per cent stake in the [...]
Shareholder vents anger as Xstrata backs £56bn deal October 1, 2012 XSTRATA shareholder Thread-needle, one of the 25 largest stakeholders in the miner, yesterday slammed the recommended £56bn mega-merger with commodities trader Glencore. Xstrata yesterday backed the tie-up with Glencore, although with conditions. In a letter sent to shareholders Iain Richards, head of corporate governance at Threadneedle, which holds 0.29 per cent of Xstrata, said he [...]