WHAT THE OTHER PAPERS SAY THIS MORNING May 10, 2012 FINANCIAL TIMES Qatar targets 10 per cent of Xstrata Qatar’s sovereign wealth fund plans to buy at least 10 per cent of Xstrata as part of a long-held strategy to invest in Glencore, suggesting the Gulf state could provide crucial support to the pair’s $90bn merger deal. Several of Xstrata’s shareholders said they would oppose [...]
Output rises at Glencore but no word on Xstrata May 9, 2012 COMMODITIES giant Glencore yesterday said trading was robust in the first quarter, ahead of its first shareholder meeting since going public. The firm said its mining projects were on schedule despite power outages, rain and equipment glitches. The world’s largest diversified commodities trader gave no update on its $35bn (£21.7bn) takeover of miner Xstrata, but [...]
Eurozone fears see FTSE 100 fall to fresh 2012 low May 9, 2012 UK equities slumped to their lowest level this year yesterday and faced further losses amid downbeat corporate reports and concerns about the health of the Eurozone, Britain’s biggest export market. Shares in several big companies – including oil major BP and drug maker GlaxoSmithKline – went ex-dividend, meaning investors buying them from now on will [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 8, 2012 FINANCIAL TIMES Mobile operator stops insurance sales A sharp rise in fraudulent claims has pushed UK mobile phone network 3 to stop selling insurance, an unusual move underscoring the scale of customer deception facing mobile operators. Strathclyde in elected Lords warning An elected House of Lords could become more “aggressive”, frustrate key pieces of legislation [...]
Glencore faces its shareholders May 8, 2012 Commodities giant Glencore will today face its first shareholder meeting since going public, amid calls for greater transparency around its deals and its top staff. The firm, which is meeting with shareholders in the Swiss town of Zug, has spent months convincing investors of the merits of its planned $36bn takeover of miner Xstrata. But [...]
LONDON REPORT May 7, 2012 THE bank holiday began a short trading week in London that is nevertheless crammed full of corporate results, as well as the much-anticipated Bank rate decision. Results are expected today from Hiscox, HSBC and Tui. Tomorrow’s announcements are set to come from EasyJet, Inmarsat, ITV, Sage, Glencore, ICH Group, Balfour Beatty, Prudential, Carphone Warehouse, Weir [...]
Xstrata’s shareholders protest over pay and Glencore merger May 1, 2012 DISGRUNTLED shareholders in miner Xstrata yesterday made their concerns felt over the firm’s strategy ahead of its planned merger with commodities giant Glencore. Almost four in ten shareholders failed to support the firm’s pay plan, while more than 15 per cent refused to vote for the reappointment of director Ivan Glasenberg – who also runs [...]
FTSE edges up as Lloyds gains May 1, 2012 The FTSE 100 clawed back some lost ground in early trading with Lloyds among the top gainers after quarterly results that matched forecasts. London’s blue-chip index ended April in negative territory yesterday – its second consecutive monthly loss – as concerns rose over Spain’s economy and political tensions in Europe took their toll. Meanwhile UK [...]
Xstrata copper production dips May 1, 2012 Miner Xstrata, which is moving into the final stages of a record tie-up with commodities trader Glencore, posted a drop in first-quarter copper production as it prepares for the ramp up of key projects in the second half of the year. Xstrata, which said all its major projects were making good progress and remained on [...]
Glencore float fuels wealth of UK’s super rich April 29, 2012 THE wealth of Britain’s richest people, including a series of investors in Glencore, jumped by nearly five per cent to a record £414bn last year, according to new research. The combined assets of the 1,000 most affluent people rose 4.7 per cent, according to the Sunday Times Rich List, despite the nation’s plunge back into [...]