By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Glencore facing race against time as debt concern grows and share price tumbles

September 29, 2015

After more than £2bn was wiped off Glencore today, the company is facing a race against time, as investors signalled mounting concern over the size of its debts. The company's debt-laden balance sheet, coupled with persistently low copper prices, could mean Glencore is sitting on a ticking debt time-bomb. "The management have outlined a plan [...]
Glencore share price history: A timeline of what went wrong from record drops to credit rating outlook fears

September 28, 2015

The commodity price rout and concerns over a slowdown in the Chinese economy have helped send Glencore shares around 70 per cent lower this year – making it the worst performer on Britain's FTSE 100. And shares in the embattled commodities miner and trader continued their downwards trajectory today, after a particularly bearish note from [...]
Glencore share price crashes as analysts warns on metal prices

September 28, 2015

Glencore shares tumbled today after a particularly bearish note from analysts. Broker Investec questioned how much the company would be worth if metal prices fail to improve, while pointing to its high debt levels and a need for restructuring. The note sent shares in embattled commodities trader and miner shed as much as 31 per cent [...]
Glencore share price ends sharply lower in race against time amid global commodities price rout

September 28, 2015

After more than £2bn was wiped off Glencore today the company faces a race against time "As fears grew about the company's ability to withstand the prolonged rout in global metal prices." Shares in Glencore ended the day at a new record low, down 29.4 per cent to 68.62p per share in London. Other miners [...]
Glencore earnings beat estimates as it shoulders commodities rout

September 28, 2015

The figures Switzerland-based Glencore said attributable net income fell seven per cent to $4.3bn (£2.7bn), down from $4.6bn a year earlier. This beat expectations as analysts had forecast $4.1bn. Meanwhile, net debt rose to $30.5bn. It set aside $1.1 billion of impairment charges for crumbling commodity prices. The company has also recommended a final cash [...]
Switzerland watchdog Weko probes banks including HSBC, UBS, Deutsche Bank and Barclays over metals market manipulation

September 28, 2015

Switzerland's competition watchdog, Weko, has said it is investigating several big banks over the possible manipulation of the precious metals market. The investigation, which comes after a preliminary probe, will look at possible collusion of bid/ask spreads in the metals market by UBS, Julius Baer, Deutsche Bank, HSBC, Barclays, Morgan Stanley and Mitsui. Read more: Forex [...]
Volkswagen emissions scandal: Standard & Poor’s and Moody’s warn on VW credit rating over car pollution catastrophe

September 28, 2015

Credit ratings agencies Standard & Poor's (S&P) and Moody's have both warned over the credit rating of embattled carmaker Volkswagen. "We expect Volkswagen to incur substantial remediation costs to correct the engines of the cars affected and potentially face material fines from regulators. " analysts at S&P said. "Criminal charges in the US may also follow. [...]
Why Bank of England hawk Ian McCafferty voted for an interest rate rise

September 25, 2015

The Bank of England's (BoE) solitary hawk, Ian McCafferty, has said he voted for an interest rate rise at the September meeting because inflation risks overshooting its short to medium-term target. McCafferty said inflation is being held down by temporary factors such as sharp falls in oil and commodity prices, and that it should return to [...]
The five best countries for a fulfilling expat career: Go to Russia finds HSBC Expat Explorer Survey

September 25, 2015

Russia has topped a new ranking of countries which are able to offer expats a role that's more fulfilling than their previous one. The annual HSBC Expat Explorer survey found six in 10 expats living in Russia said that they were now getting more out of their jobs. "Learning the local language is key to successfully [...]
Capital Economics says Brexit after the EU referendum will not stop the City from prospering

September 24, 2015

Brexit may not be so bad for the City, after all, according to a new note from Capital Economics. Vicky Redwood, chief UK economist at Capital Economics, wrote in a note published yesterday that while a “British exit from the EU would probably hurt the City in the short term,” it would “not spell disaster” [...]

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By: Jessica Morris

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