GLENCORE
Aegis Logistics to acquire 89.8% stake in Dubai-based Tristar Holdings for $809 million
Aegis Logistics is set to acquire 89.8% stake in Tristar Holdings, based in Dubai, for $809 million. The deal seeks to strengthen Aegis's global footprint in liquid logistics and creating new avenues for business growth. The acquisition is expected to complete by the fourth quarter of FY27.
Firmus $5 billion float failure deals blow to Australia's shrinking share market
Firmus has decided to scrap its ambitious $5 billion IPO, primarily due to the prevailing market volatility. This choice is a major blow to the Australian Securities Exchange, which is facing a downturn in available listings. Investors had hoped that this IPO would introduce more diversity to a market overly dependent on significant banks and miners.
Global Market: European shares head for first monthly decline in six months as yields rise
European shares were set for their first monthly decline in six months as Middle East tensions, higher energy prices and rising bond yields heightened inflation and interest-rate concerns. The STOXX 600 gained 0.7% but remained on track for a September loss. Mining stocks advanced, while investors awaited key European inflation data.
European shares log weekly gains as oil prices ease, Mideast tensions linger
European markets rallied as declining oil prices broke a three-week slump. Despite lingering investor caution due to geopolitical tensions in the Middle East and rising bond yields, the pan-European STOXX 600 index saw gains, primarily fueled by strong performances from banking and airline sectors. However, concerns over energy costs remained a factor impacting German consumer sentiment in October. Noteworthy stock advancements included companies like Konecranes and Glencore during this period.
European stocks close at record as Glencore jumps on Rio Tinto interest
European stock markets reached a new peak on Friday. Glencore's significant jump fueled the rise. Technology stocks also performed strongly, marking their best week in almost two years. This rebound shows investor resilience despite global concerns. Defence stocks saw notable weekly gains. The US jobs report indicated cooling growth, reinforcing expectations of steady interest rates.
European stocks edge up as Glencore boosts STOXX 600
European shares opened higher on Friday, lifted by an 8% jump in Glencore that put the STOXX 600 on track for its longest weekly winning streak since May.
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Glencore and Rio Tinto hold buyout talks to create $207 billion mega-miner
Rio Tinto and Glencore are in early buyout talks that could create the world's largest mining company, with a combined market value nearing $207 billion. This potential deal, an all-share buyout of Glencore by Rio Tinto, comes as global miners race to bulk up in copper amid the energy transition.
Vitol and Glencore set to make formal bids for Chevron's Singapore refinery stake, sources say
Commodities traders Vitol and Glencore are expected to bid for Chevron's 50% stake in Singapore's second-largest refinery, valued at approximately $1 billion. Chevron seeks final bids in October as part of a cost-cutting initiative. The refinery has a processing capacity of 290,000 barrels per day, attracting interest from firms aiming to expand their Asia-Pacific refining assets.
UK watchdog probes Deloitte's audits of Glencore's 2013-2020 accounts
The Financial Reporting Council (FRC) has launched an investigation into Deloitte LLP's audits of Glencore and its Glencore Energy UK Limited division from 2013 to 2020. The probe centers on whether Deloitte adequately assessed the risk of legal and regulatory breaches during its audits, as Glencore has faced bribery and corruption allegations.
JSW Steel may pick majority stake in Teck Coal unit
JSW Steel Ltd. is looking to form a consortium to bid for a majority stake in Teck Resources Ltd.’s steelmaking coal business, potentially rivalling an $8 billion offer from commodities giant Glencore Plc. JSW is seeking partners for an offer to acquire a 75% interest in the asset, known as Elk Valley Resources Ltd
Glencore UK subsidiary ordered to pay $310 mln over bribery
Glencore Energy UK Limited was ordered to pay a 182.9 million pound fine by Judge Peter Fraser at Southwark Crown Court, who also approved a 93.5 million pound confiscation order.
Glencore lowers coal production targets
The Switzerland-based firm said it had cut its coal production target to 110 million tonnes, down nine percent from its previous forecast in July.
Glencore to return $2.8 billion to shareholders after record first half
The London-listed company's first-half adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 79% to a record $8.7 billion, compared with $4.8 billion a year earlier, beating the $8.4 billion expected by analysts polled by Refinitiv.
Mitsubishi to buy 30% stake in Australia's Aurukun bauxite project
The deal marks Mitsubishi's first investment in the mining of bauxite, a raw material of aluminium, the trading company said in a statement.
Indian antitrust watchdog raids Glencore business, others over pulse prices: Sources
CCI was investigating that the cos formed a cartel to fix prices of pulses while importing and selling them in India market at higher prices in 2015 and 2016, when India faced shortage
Glencore plans to cap coal output in climate shift
One of the world’s biggest sellers of coal is yielding to investor pressure on climate change.
Russia sells $11-B stake in Rosneft to Glencore, Qatar
Glencore said in a statement it would commit 300 million euros in equity, with the rest coming from the Qatar Investment Authority and bank financing.
Glencore says to sell some Australia, Chile copper mines
Glencore said it would to sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile after receiving interest from potential buyers.
London copper steady, zinc holds gains on supply cut
London copper was flat on Monday but holding near its highest level in more than three weeks, after production cuts by Glencore revived sentiment.
Hindustan Zinc climbs 6% after Glencore's production cut announcement
Shares of Hindustan Zinc climbed 6 per cent in Friday's trade after Glencore said it would cut zinc production by 5,00,000 tonnes.
Adani Enterprises buys out 49% Glencore's stake in joint venture
Adani Enterprises and Chemoil Energy, a subsidiary of Glencore, had formed a JV, Chemoil-Adani Pte Ltd for supplying bunker fuel to vessels.
India need not worry about Glencore troubles, says Raghuram Rajan
Reserve Bank Governor Raghuram Rajan today said the country has nothing to fear from the troubles being faced by mining giant Glencore.
Glencore said to lay groundwork for potential Rio merger
Rio’s shares have declined 12 percent this year in London, giving the company a market value of about 56 billion pounds ($90 billion).
Glencore to supply crude to IOC from Sandesara Group's Nigerian assets
Sandesara group is claiming to be the first Indian operator and oil producer in Nigeria, which is member of OPEC.
Glencore seen unlikely to bid for OZ Minerals
Glencore Xstrata is unlikely to pounce on OZ Minerals, playing down a report that said the company was weighing a $1.2-bn takeover offer.
Xstrata investors seen backing Glencore takeover
Investors in commodities trader Glencore, voted 99.4 per cent in favour of the deal at a meeting in Zug, near Zurich.
Mining M&A deals value at $79 billion in first half of 2012: PwC
Boosted by nearly $54 billion Glencore-Xstrata deal, total value of M&A deals announced in the mining space touched USD 79 billion in the first half of this year, says global consultancy PwC.
Glencore may abandon Xstrata bid if Qatar opposes
Glencore International is prepared to walk away from a $30-billion deal to buy Xstrata, in what would be this year's largest takeover
Glencore International in talks to acquire 24% stake in Croniment Alloys
A deal, which they said could be for Rs 50-75 crore, would mark Switzerland-based Glencore's entry into India.
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