Revolut ‘to appoint Martin Gilbert as chairman in next few weeks’ July 14, 2019 Revolut is reportedly gearing up to appoint Martin Gilbert as its first ever chairman in a bid to strengthen governance and improve investor sentiment ahead of an upcoming fundraising. Gilbert, a former co-chief executive of Standard Life Aberdeen (SLA), was first confirmed as an adviser to chief Nikolay Storonsky in March. Read more: Revolut fights [...]
Congo starts evicting up to 2,000 illegal miners from Glencore site where dozens died July 4, 2019 The Congolese army has started evicting miners from a Glencore site after a landslide which killed dozens. Illegal miners were being dispersed from the area around the copper and cobalt mine run by a Glencore subsidiary today. Read more: Glencore head of oil Alex Beard retires amid US investigations The company London-listed miner confirmed that [...]
Norway’s sovereign wealth fund to divest from fossil fuel investments June 12, 2019 The world’s biggest sovereign wealth fund appears set to sell its $1bn (£788m) stake in London-listed Glencore, after Norwegian politicians today passed a bill to divest from fossil fuel investments. The decision will see the country’s $1 trillion fund sell stakes in companies which get more than 30 per cent of revenues from coal. It [...]
Ferrexpo shares increase on earnings expections rise June 7, 2019 Shares in oil and gas giant Ferrexpo jumped eight per cent this morning after the miner announced that earnings are expected to rise. Ferrexpo said group earnings before interest, tax, depreciation and amortization would “increase materially” compared with the first half of 2018. Read more: Oil dips to four month low as US inventories soar [...]
Glencore head of oil Alex Beard retires amid US investigations June 3, 2019 Glencore parted ways with another of its top brass today, as the man who helped make it an oil trading giant announced he would step down amid US probes into its activities. Alex Beard, 52, who has been head of oil since 2007, will leave at the end of the month. Read more: Australian weather [...]
BHP bets on batteries as it decides to keep its Australian nickel mine May 14, 2019 London-listed miner BHP has said it wants to keep its Australian nickel mine as the industry starts betting on a battery-powered future. Chief executive Andrew Mackenzie today said the company would hold on to the Nickel West mine which it has tried to sell several times. Read more: BHP Billiton faces $5bn claim for failure [...]
Australian weather batters Glencore production guidance April 30, 2019 Mining giant Glencore today downgraded for its copper output estimates, as production at some mines are set to be hit by upgrade works. Copper production is expected at around 1.46m tonnes in the financial year, Glencore said, down from a previous 1.54m tonnes estimate. Read more: JP Morgan backs Sirius Minerals $3.8bn financing package for [...]
FTSE 100 risers: London miners climb blue-chip index as Vale shuts another mine March 21, 2019 London miners dominated the FTSE 100 this morning after Brazilian giant Vale said it was suspending production at another mine. Fresnillo led the charge of the metals producers, up 5.3 per cent, but Antofagasta, Glencore and Anglo American also made the top five risers on the index. Read more: Shares in miner Ferrexpo plunge after [...]
Chick-fix: Glencore offices raided over chickpea price conspiracy March 18, 2019 More than 25 Indian officials descended on the Mumbai office of Glencore at the weekend as authorities investigate alleged price fixing of one of the country’s vital commodities – chickpeas. The Competition Commission of India (CCI) is looking into claims that commodities traders at Glencore Agriculture, which is half owned by the Anglo-Swiss miner, conspired [...]
End of an era: Martin Gilbert’s legacy as he steps down from Standard Life Aberdeen chief executive role March 13, 2019 City veteran Martin Gilbert stepped down as joint chief executive of Standard Life Aberdeen this morning as the investment firm ditched the management structure put in place following the 2017 merger of Standard Life and Aberdeen Asset Management. The move brings to an end Gilbert's 36-year reign as chief executive of Aberdeen Asset Management, and Standard [...]