Rio Tinto acquires $825m Argentine lithium project after Serbia plans blocked December 21, 2021 Anglo-Australian miner Rio Tinto today announced it has agreed to buy the $825m Rincon lithium project in Argentina from Rincon Mining, in an effort to keep the momentum going for its push into battery materials as a way to future-proof for the transition to net zero. The world’s second-largest miner said it has purchased the lithium [...]
FTSE: Lloyds, Barclays and Natwest shares surge on Bank of England surprise interest rate hike December 16, 2021 London markets are up around one per cent this lunchtime after a surprise interest rate hike from the Bank of England saw Lloyds Bank, Barclays and Natwest shares take off. The capital’s premier FTSE 100 index was still up 0.99 per cent after the rates call from Threadneedle Street, while the mid-cap FTSE 250 index, [...]
London markets rise as Omicron jitters recede December 6, 2021 Investors’ fears over the Omicron variant of coronavirus derailing the global recovery from the pandemic have seemingly receded over the weekend, lifting London markets during the opening bell today. The capital’s premier FTSE 100 index climbed nearly one per cent to 7,188.24 points during the first hour of trading. The mid-cap FTSE 250 index, which [...]
Activist investor pushes Glencore to spin off coal business November 30, 2021 Activist investor Bluebell Capital Partners has called on commodities titan Glencore to spin off its thermal coal business.
Dividends scale to new heights as companies shake off pandemic hangover November 15, 2021 Companies are rewarding shareholders with record levels of dividends as corporate balance sheets shake off the hangover of the Covid-19 crisis. Firms paid shareholders $403.5bn in dividends in the third quarter of the year, the highest total ever recorded for the three months to September, research by Janus Henderson has found. Dividends are 22 per [...]
Under-fire Liberty Steel owner Sanjeev Gupta faces French investigation November 8, 2021 French authorities are investigating Sanjeev Gupta’s business dealings, according to The Financial Times. Gupta is the chairman and CEO of GFG Alliance, which specialises in mining, industry and trading. The firm has been struggling with rising energy costs and the collapse of Greensill Capital which funded many of its acquisitions worldwide. The Paris Prosecutor’s Office [...]
Glencore’s marketing business FY earnings to surpass $3.2bn, says mining giant boss October 29, 2021 Glencore’s marketing business has lifted its full year adjusted earnings forecast to exceed $3.2bn, the mining giant’s CEO Gary Nagle said in the firm’s third quarter production update. Shares dipped 0.8 per cent to 356.4p per share during early trading. It follows Glencore’s recovery from reduced production as global energy markets have begun to rebalance [...]
Glencore full year earnings forecast to surpass $3.2bn, says mining giant boss – CityAM : CityAM October 29, 2021 Glencore has lifted its full year adjusted earnings forecast to exceed $3.2bn, the mining giant’s CEO Gary Nagle said in the firm’s third quarter production update. It follows Glencore’s recovery from reduced production as global energy markets have begun to rebalance amid soaring cost inflation. “The asset base has largely performed in line with our [...]
Energy crisis continues with CNG Energy’s retail arm on the brink of collapse October 28, 2021 CNG Energy’s retail arm is on the verge of collapse. The embattled firm is close to falling into the infamous supplier of last resort process, according to Sky News. The supplier provides energy only to commercial clients. It is responsible for 45,000 customers, including schools, hairdressers, hotels and restaurants. If it ceases trading, it will [...]
Chancellor plays down hope of loans to struggling businesses October 14, 2021 Chancellor Rishi Sunak has dampened yesterday’s hopes that the government will rescue struggling businesses facing soaring energy prices. Without going into specifics, he said that he believes in a market economy and that it is “not the government’s job to come in and start managing the price of every individual product.” His comments to Sky [...]