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...Anglo last week rejected a £31bn approach, BHP sent a team led by chief executive Mike Henry on a charm offensive to South Africa, where Anglo was founded in 1917 and still operates iron ore, platinum, diamond...
...The business has also been hit by price collapses for diamonds and platinum as well as problems at its Quellaveco copper project in Peru that only started production in 2022....
...The Triller foray is a departure for Diamond, who once commanded a bank with a trillion-dollar balance sheet....
...Anglo American said the diamond market was suffering from a price rout caused by excess piles of inventory, something that De Beers has previously acknowledged is partly down to lab-grown diamonds cannibalising...
...At more than $20bn at the end of 2023, these were near five-year highs, up a third since the end of 2022, according to Bank of America....
...Unlike BHP, Rio also has operations in South Africa and an existing diamonds business, which could help it to manage Anglo’s diamond unit De Beers....
...She previously worked for Deutsche Bank. The group also appointed Michael Abraham as vice-chair of global sponsors....
...“US consumer demand for natural diamonds was impacted by macroeconomic challenges as well as a rising supply of lab-grown diamonds,” said the world’s largest producer of diamonds....
...Selling diamond and platinum mines when commodity prices are at their lowest point would be inadvisable, Wanblad has argued....
...Last year saw both the merger of UK small-cap brokers Cenkos and FinnCap and the £410mn acquisition by Deutsche Bank of UK broker Numis....
...Liddy joins from Deutsche Bank and was previously at Moelis....
...If you want diamonds, head down to London’s Hatton Garden. For musical instruments, you need to go a mile or so further west to Denmark Street....
...Bob Diamond’s Atlas Mara has been accused of failing to pay what it owed to acquire a Zambian bank in a lawsuit against the former Barclays chief executive’s lender that opened on Wednesday in London’s High...
...Interest earned by the UK’s largest high street banks on their Bank of England reserves surged 135 per cent to more than £9bn last year, according to data released on Wednesday....
...De Beers, the world’s largest diamond producer by value, sold $110mn of diamonds in its tenth and final sale of 2023, down from $417mn a year earlier, while India halted imports of rough diamonds for two...
...All other units, such as De Beers diamonds, would have undergone a strategic review....
...Staying there would be a stretch but with Bob Diamond running the investment bank, the anchor of a robust consumer bank and the backing of an ambitious board, investors briefly shed their doubts....
...Thousands of less valuable clients will also be culled to focus on the most profitable institutions segmented into diamond, platinum and gold bands by Barclays’ “Hector” management system, the FT has reported...
...Shot at the historical headquarters of Lombard Odier Bank in Geneva, Switzerland. Special thanks to Cristina Benito...
...But the proposal to demerge Anglo’s listed subsidiaries isn’t an obviously hostile one domestically, and it wouldn’t be a clean break for BHP, since it would still have Anglo’s South African diamonds and...
...Anglo has sounded out potential buyers of its De Beers diamond business, including Gulf sovereign wealth funds, luxury houses and wealthy individuals in recent weeks, according to two people familiar with...
...The bank said several senior roles would be removed in order to cut costs and complexity....
...HSBC already reported a $3bn charge on its stake in a Chinese bank earlier this year amid mounting bad loans in the country....
...Diamond declared Chapter 11 bankruptcy last year....
...BHP said, if successful, it would review Anglo’s other assets such as De Beers diamonds and manganese operations in South Africa....
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