Moonpig signs off year with jump in profits November 25, 2012 MOONPIG.COM, the online greetings card company, reported a 20 per cent rise in sales last year driven by growth at both its core and personalised card divisions. The internet retailer, founded 12 years ago by ex-commodities trader Nick Jenkins, said sales rose £7m to £45.8m in the year to 30 April. Profits jumped 10 per [...]
Qatar may ease Glencore’s path to Xstrata deal April 9, 2012 QATAR has built its stake in mining giant Xstrata up to five per cent, in a move that bankers said could help smooth the path of a £23bn merger with Glencore. The Qatar Investment Authority has boosted its Xstrata holding, worth £1.7bn at current prices, to five per cent through stock market purchases, up from [...]
What the other papers say this Morning December 6, 2012 FINANCIAL TIMES Regulator sat in on Deutsche audits German regulators were briefed about Deutsche Bank’s valuation of a clutch of complex derivatives now under investigation by the Securities and Exchange Commission. The revelation potentially sets up a transatlantic regulatory conflict with US investigators. Deutsche reiterated a statement that the allegations were “wholly unfounded”. The bank’s [...]
Viterra rises on Glencore interest March 12, 2012 Shares in Viterra, the Canadian grain firm being circled by Glencore, jumped more than four per cent yesterday as more possible bidders emerged. The Saskatchewan firm briefly hit a three-and-a-half year high on the Toronto Stock Exchange. It has not spoken publicly since admitting third-party interest on Friday, now known to be from Glencore. Canadian [...]
Strong commodities and SAB Miller drive FTSE to a three-week high November 22, 2012 BRITAIN’S top share index reached a three-week high yesterday after gaining for a fourth straight session, driven by strength in commodity stocks after a return to growth in China’s manufacturing sector. The FTSE 100 index closed up 39 points, or 0.6 per cent, at 5,791.03, extending its gains for the week so far to almost [...]
Copper output falls at Xstrata October 17, 2012 Copper production at miner Xstrata dipped by 16 per cent year on year in the third quarter, hurt by falling production at its Collahuasi mine in Chile. Xstrata, which is currently in the final throes of a merger with commodity giant Glencore, said total production of copper fell to 187,800 tonnes over the three months [...]
What the other papers say this morning October 22, 2012 FINANCIAL TIMES Lloyds eyes banker bonus shake-up Lloyds Banking Group is examining whether to ditch the concept of annual bonuses for senior staff and extend the timeframe of longer-term incentives to up to 10 years, according to people briefed on a project to overhaul remuneration. Xstrata unfairly disparaged says boss The board of Xstrata has [...]
Qatar to block Glenstrata mega-merger August 30, 2012 THE Qatari sovereign wealth fund, the second-largest shareholder in Xstrata behind Glencore, said yesterday it will block the mega-merger between the two commodity giants. Qatar has been fighting for an improved ratio on the 2.8 shares for every one existing Xstrata share offered by Glencore in February. It said in June that a ratio of [...]
Rotork adds Citi as adviser September 27, 2012 Citigroup has added a new FTSE 250 mandate to its broking business, after joining UBS as financial adviser and corporate broker to manufacturing group Rotork. Citi has picked up clients including GlaxoSmithKline and G4S in the last year, and is one of an army of banks working on the Glencore-Xstrata merger, which is set to [...]
Glencore to buy Viterra for £3.9bn March 20, 2012 Glencore, the world’s largest commodities trader, is buying Canada’s leading grain handler, Viterra, in a cash deal valuing it at C$6.1bn (£3.9bn). Glencore, which is also in the throes of a $36bn takeover of miner Xstrata, already markets and produces crops as well as metals, minerals and oil, but has earmarked agricultural commodities as an [...]