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 [...]
Banks rush to lend to Glencore as it secures $12.8bn in funding April 26, 2012 COMMODITIES trading giant Glencore swept corporate concerns over bank lending to the side yesterday as it secured a mammoth round of funding, with financial institutions queueing up to sign over their money. Ninety-one global banks have committed to the funding syndicate, pledging a total of $12.8bn (£7.9bn) – well above the $10bn that the company had [...]
advisers vodafone and Cable & Wireless worldwide April 23, 2012 UBS Vodafone has put its long-standing team at UBS, headed by global co-head of investment banking Simon Warshaw, on the case to guide it through its acquisition of CWW. Oxford-educated Warshaw joined the Swiss bank in 1986 and has under his belt the former positions of head of EMEA investment banking, joint head of UK [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 22, 2012 FINANCIAL TIMES Non US banks hope for reprieve on swaps US regulators are exploring ways to give large foreign banks and overseas subsidiaries of US lenders a reprieve from stringent new derivatives rules, potentially alleviating one of the biggest concerns facing global finance institutions. Chesapeake discloses chief’s $661m payments for wells Aubrey McClendon, the chief [...]