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UK struggling to reach state aid agreement with Chinese-owned company 18 months after plea for £500mn support package
...Apart from keeping hold of the coal division and transferring Glencore’s main listing to the Australian Securities Exchange, the hedge fund recommended increasing dividends by discontinuing share buybacks...
...Revolut also generates revenue from payments, subscriptions, foreign exchange and its wealth division which includes crypto trading, according to its latest annual filing....
...The action, announced by the two countries on Friday, marks an aggressive effort by the allies to damage Russia’s income — but could disrupt trading at exchanges including the London Metal Exchange and Chicago...
...Long gold positions held by futures traders on the Shanghai Futures Exchange (SHFE) climbed to 295,233 contracts, equivalent to 295 tonnes of gold....
...Global mining companies have called for a green premium for sustainably produced nickel traded on the London Metal Exchange, as a flood of allegedly “dirty” supplies from Indonesia squeezes profits for producers...
...The London Metal Exchange has won a landmark legal victory against traders who sued over its decision to cancel billions of dollars worth of nickel trades as England’s High Court dismissed claims it acted...
...The moves came after the British and US governments on Friday banned the delivery of new Russian supplies to the London Metal Exchange and the Chicago Mercantile Exchange....
...The Potanin interview comes just after the US and UK took their biggest step yet to impose sanctions on Russian metals by banning copper, nickel and aluminium from being traded on the London Metal Exchange...
...An index tracking the performance of six industrial metals on the London Metal Exchange has climbed 8 per cent since the start of 2024, outpacing a 6.3 per cent rise for MSCI’s index of worldwide stocks....
...Traders said much of the speculative demand had come from China, while exchange traded funds and bulk metal dealers in the west had been selling down their reserves....
...Under BHP’s proposal, the London-listed miner would have been broken up, spinning off its South African-based platinum metals and iron ore divisions....
...Anglo, founded 107 years ago, is among the 25 most valuable companies on the London Stock Exchange, and BHP’s proposal is likely to fuel anxiety over the flight of companies away from the UK capital....
...Anglo shares surged 16.1 per cent to £25.60 in London, giving the company a market capitalisation of £34.2bn....
...Representatives from Community and the GMB and Unite unions met company executives in London on Thursday to push their alternative plan to keep one of the blast furnaces at Tata’s site in Port Talbot open...
...The cobalt market malaise mirrors the dire situation for other key battery metals lithium and nickel....
...More recent iterations, namely the Chicago Mercantile Exchange and London Metal Exchange, have had their share of snafus....
...The decision to invest in the mining sector comes after Elliott lost large profits two years ago linked to the London Metal Exchange’s decision to wipe out billions of dollars of nickel trades to stabilise...
..., Fidelity and Charles Stanley Direct), be cautious around the exchange-traded products that give exposure to UK index linkers....
...Those wanting direct exposure to the metal could look at Yellow Cake, an investment vehicle on London’s AIM market, and Toronto-quoted uranium miner Cameco....
...The price of copper traded on the London Metal Exchange settled 3.1 per cent higher on Wednesday at $8,927/tonne, its highest since April last year....
...Police presence will be heightened in the City of London on Monday after six pro-Palestinian activists suspected of planning to disrupt the opening of the London Stock Exchange were arrested, the Metropolitan...
...Nickel, however, had a torrid year due to surging supply out of Indonesia and the increasing conversion of low-grade nickel products into a high-quality metal that can be delivered to London Metal Exchange...
...This is because London Metal Exchange warehouses have filled up with Russian aluminium that potentially cannot be offloaded because of sanctions. It makes up 90 per cent of inventories....
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