Glencore’s plan to appoint new female director comes too late May 19, 2014 GLENCORE Xstrata is set for a shareholder attack at today’s annual meeting, as it remains the only FTSE 100 company without a woman on its board. A number of major institutional investors are expected to oppose the miner trader’s annual report. Earlier this month, the Local Authority Pension Fund Forum, which represents 60 UK public [...]
BHP mulls sale of its Australian nickel business May 14, 2014 BHP BILLITON yesterday said it was considering selling off its nickel business in western Australia, as the miner pushes ahead with plans to streamline its portfolio. “The review is considering all options for the long-term future of Nickel West, including the potential sale of all or parts of the business,” said the firm. The asset [...]
London Report: FTSE hits brakes ahead of 14-year high as ITV drops May 14, 2014 THE FTSE 100 steadied near a 14-year high yesterday, despite broadcaster ITV falling 5.7 per cent after seeing its market share drop in the first four months of the year. ITV’s second-quarter guidance for net advertising revenue was just short of their 14 per cent forecast. The London index ended 0.08 per cent higher at [...]
Glencore Xstrata confirms ex-BP boss Tony Hayward as chairman May 8, 2014 GLENCORE Xstrata yesterday named Tony Hayward as its permanent chairman, meaning the miner trader remains the only FTSE 100 firm with an all-male board. The Local Authority Pension Fund Forum, which represents 60 pension funds in the UK, said it is advocating an oppose vote to Hayward’s re-election at May’s annual meeting on the grounds [...]
What you need to know before the open May 8, 2014 A higher open is expected for European markets, following yesterday’s bumpy trading. A more appeasing message from President Putin yesterday, urging Ukrainian separatists to postpone plans for a referendum, has helped buoy markets. On top of that, better than predicted trade data from China – although expectations were very low – has caused some optimism. [...]
What the other papers say this morning – 08 May 2014 May 7, 2014 FINANCIAL TIMES Former chancellors slam Help to Buy Three former chancellors of the exchequer have urged George Osborne to rethink his Help to Buy programme, with the OECD also calling on the government to scale back the mortgage support scheme. Lord Lawson, Lord Lamont and Alistair Darling – all predecessors of Osborne at the Treasury [...]
Glencore boosts copper output in first quarter May 6, 2014 COMMODITIES miner and trader Glencore Xstrata yesterday posted a 24 per cent rise in first-quarter copper output, after expanding its operations at two mines. Among diversified miners, the FTSE 100-quoted firm has the biggest exposure to copper, which accounted for almost half of its earnings last year. It added that the performance of its marketing [...]
London Report: Supermarkets’ results to show split in fortunes May 5, 2014 THE varying fortunes of the UK’s supermarkets will be revealed this week as Morrisons gives its quarterly results while Sainsbury’s announces full-year figures. Sainsbury’s annual results are forecast to show that underlying pre-tax profits rose 3.5 per cent to £782m. However investors will be anxious to see the company’s plans for the next year, especially [...]
Fat Face unveils London listing to pay off debt May 1, 2014 FAMILY friendly retailer Fat Face yesterday became the latest private equity-backed retailer to tee up a listing on the London stock market, after announcing plans to raise £110m to cut debt. The business, which has about 200 stores across the UK, will offer shares to City fund managers after private equity backer Bridgepoint moved to [...]
How the FTSE 100 is being undermined by the strong pound April 24, 2014 The mood music for the British economy has been sounding all the right notes this year. But one section of the business community are not tapping their feet – stocks listed on the UK’s top share index the FTSE 100. According to a new note from investment bank Deutsche Bank, business analyst have revised down [...]