Glencore pleads guilty to seven counts of bribery June 21, 2022 Glencore Energy today pleaded guilty on seven charges of bribery and failing to prevent bribery in relation to a series of African oil deals. The Anglo-Swiss firm pleaded guilty on all seven counts put forward to it at Southwark Crown Court, after charges were brought against the company by the UK’s Serious Fraud Office (SFO). [...]
Industrials bump London’s FTSE 100 higher as investors focus on proven dividend payers June 21, 2022 London markets were bumped higher this morning by investors pouring into industrial giants. The capital’s premier FTSE 100 index climbed 0.59 per cent to 7,163.79 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.61 per cent to hit 19,127.22 points. Investors are seemingly [...]
Glencore trading profits set to soar amid volatile commodity prices June 17, 2022 Glencore is on course to post record profits from its trading business in the first half of the year as it continues to feel the lift of volatile commodity prices.
Windfall tax u-turn drags down London-listed energy titans May 27, 2022 London-listed energy companies that will be caught by Chancellor Rishi Sunak’s windfall tax tumbled during opening exchanges today. The capital’s premier FTSE 100 index was flat this morning at 7,564.82 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.52 per cent to 20,354.82 [...]
Glencore pays $1bn settlement to US authorities after admitting bribery in UK court May 24, 2022 Commodity trader Glencore has agreed to pay more than $1bn to US and Brazilian authorities to settle corruption investigations, after indicating it will plea guilty to bribery charges in the UK. Glencore said it will pay a combined sum of $1.06bn to the US Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC), and [...]
Compass Group revenue forecast hike cooks up a storm on FTSE 100 May 11, 2022 A bumper crop of results sent shares in catering giant Compass Group soaring today helping London’s top index post a strong day. The capital’s premier FTSE 100 index climbed 1.44 per cent to 7,347.66 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 1.35 [...]
Trafigura funds development of UK’s first lithium refinery May 9, 2022 Trafigura said it will fund the development of the UK’s first lithium factory for an undisclosed sum. The group explained that the refinery, operated by domestic start-up Green Lithium, will produce battery-grade lithium chemicals for the EU electric vehicle and battery industries. Under the agreement, the commodities giant will supply lithium feedstock an invest equity [...]
Decade-high BP profit take boosts London’s FTSE 100 May 3, 2022 The best underlying profit take from one of the UK’s biggest oil giants in a decade sent London’s top index higher today. The capital’s FTSE 100 index climbed 0.22 per cent to close at 7,561.33 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped [...]
Mixed bag for Glencore as output levels vary wildly across metals April 28, 2022 Mining giant Glencore endured a mixed bag in its production levels in the first three months of the year amid market volatility.
The City View: Musk on cusp of Twitter buy, and global markets down April 25, 2022 Today Andy Silvester talks to Jack Barnett, City A.M.’s Economics and Markets reporter. They go through the global market dip and why China’s zero-Covid lockdowns are concerning investors; bank earnings for Q1; and new ONS data showing that 9 in 10 households have recorded an uptick in their cost of living. And in the news, [...]