Glencore Share Discussion Threads

[waldron] 28/1/2019 16:56

Gold COMEX 1,301.80 +1.72%
Silver COMEX 15.75 +2.91%
Copper COMEX 2.69 +1.61%
Brent Crude Oil NYMEX 59.53 -3.42%
Gasoline NYMEX 1.35 -4.04%
Natural Gas NYMEX 2.91 -5.40%


Eni
14.432 -0.96%

[waldron] 28/1/2019 16:54

Glencore
291.45 -2.03%



Rio Tinto
3,944.5 +1.71%


Anglo American
1,864.2 -0.04%


BHP GROUP PLC (BHP) - 28/01 17:30:00
1620.8 GBp +0.71%

[waldron] 28/1/2019 08:34

Glencore to transfer 2% of Rusal’s shares to En+ after sanctions removed
Business & Economy
January 28, 4:09 UTC+3
The remaining 6.75% of Rusal’s shares to be transferred 12 months later
Share
0

MOSCOW, January 28. /TASS/. En+ Group and Glencore trader have reached a securities exchange agreement to transfer 8.75% of Rusal’s shares held by Glencore to En+ receiving its global depositary receipts (GDR) in return, En+ said in a statement.

The deal will be made in two stages. The first stage, during which Glencore will transfer about 2% of Rusal’s shares, will be implemented after the US sanctions imposed on Rusal and En+ are lifted, and the second - twelve months later.

"Glencore has agreed to transfer its stake in Rusal to the Company in two stages. The first stage will involve approximately 2% of Rusal’s shares to be transferred to the Company following the de-listing of the Company and Rusal from the SDN List, and the remaining 6.75% of Rusal’s shares to be transferred 12 months later," the company said.

The completion of the transfers under the deal will depend on a number of procedural steps.

The securities exchange agreement between En+ and Glencore was reached on January 26 and was implemented in accordance with the plan of Lord Gregory Baker, Chairman of the Board of Directors of En+ Group, to facilitate the company’s removal from the US blacklist.

En+ Group is an integrated producer of aluminum and electric power. Its power plants have an aggregated output of 19.7 gigawatts, while aluminum factories (owned through a controlling stake in Rusal) produce 3.9 million tonnes of the metal per year.

Swiss corporation Glencore is a major supplier of metals, oil, coal and agricultural products. It has about 90 representative offices in more than 50 countries.


More:

[waldron] 28/1/2019 08:27

Gold COMEX 1,300.30 +1.60%
Silver COMEX 15.76 +3.01%
Copper COMEX 2.71 +2.59%
Brent Crude Oil NYMEX 60.67 -1.57%
Gasoline NYMEX 1.39 -1.37%
Natural Gas NYMEX 2.87 -6.67%

[waldron] 28/1/2019 08:26

Russian aluminum giant United Co. Rusal PLC (0486.HK) said Monday its chairman Jean-Pierre Thomas, who was elected late December, resigned effective January 26 after receiving an 'imperative request' from the U.S. government to leave the office as one of the prerequisites for the lifting of U.S. sanctions.

The announcement came after the U.S. Treasury Department on Sunday removed Rusal from its sanctions list after Oleg Deripaska, a blacklisted billionaire and close ally of President Vladimir Putin, delivered on a promised plan to divest his majority ownership stake.

In a separate announcement, Rusal, one of the world's largest aluminium producers, said its controlling shareholder EN+ Group PLC has reached agreement with Glencore PLC (0805.HK). As part of the agreement, Glencore will transfer 8.75% shares of Rusal to EN+ in exchange for 10.55% of the enlarged share capital of En+, the company said.



Write to Chester Yung at [e-mail]



(END) Dow Jones Newswires

January 27, 2019 20:30 ET (01:30 GMT)

[the grumpy old men] 26/1/2019 14:01

FT

Brussels to sue UK over tax breaks for commodities traders
Commission goes to ECJ over City of London creating VAT loophole
The reality is that, since joining, the UK has been an economic cornerstone of the EU



Jim Brunsden and Mehreen Khan in Brussels January 23, 2019
FT

Brussels is to sue the UK in Europe’s highest court over tax breaks for commodities traders, according to EU diplomats briefed on the plans, escalating a battle that Britain said risked damaging the post-Brexit competitiveness of the City of London.

The European Commission is bringing the case in the European Court of Justice just over two months before Britain is due to leave the EU, potentially without agreeing an exit deal. However, the withdrawal treaty that Theresa May has brokered with Brussels means the UK would have to abide by ECJ rulings in cases launched while it was a member or during a 21-month transition period.

Brussels’ move to try to limit how the UK applies value added tax exemptions escalates a dispute that began last year when Brussels challenged the UK on rules dating back to the 1970s.

Under the rules, Britain has a right to apply a zero VAT rate to commodities contracts traded on “terminal markets” such as the London Metal Exchange.

Brussels argues that the UK has stealthily widened the exemption over time, creating a tax loophole that unfairly boosts the City of London at the expense of other EU financial centres. London is one of the largest global centres for commodities trading.

The commission declined to comment but last year said the UK had “extended the scope of the measure considerably . . .R01;meaning that it is no longer limited to trading in the commodities as originally covered”.

Brussels contends that the UK has amended the original exemption at least eight times without seeking advice from the EU, so that it now includes trading commodity options and futures contracts.
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Britain has consistently rebuffed the commission’s claims that the changes are illegal, saying its approach is in line with EU “standstill221; rules that allow the zero rate because it was applied before a 1977 cut-off date.

The case comes at an acutely sensitive moment in Brexit talks, following the overwhelming parliamentary defeat of Mrs May’s deal and amid deep splits in the UK parliament over how to proceed. Mrs May is due to face a further crucial vote on her Brexit plans in the House of Commons next week.

It also underlines the complex task facing the UK Treasury to disentangle Britain and its businesses from an EU VAT system that has developed over decades.

While tax rates are mainly set at national level, Brussels tries to restrict how far governments can go in lowering VAT rates to lure business, while allowing countries to introduce specific carve-outs.

Brussels opened “infringement proceedings” against the UK on the issue last year, following talks between EU and UK officials dating back to 2015.

The UK government declined to comment but officials have previously said the VAT treatment was “vital” to ensure the City remained a world-leading hub for commodities trading.

[soho2] 25/1/2019 19:13

And another disaster in Brasil same as Mariana...this happened a few hours ago and is not pretty to look at.

[waldron] 25/1/2019 17:18

Rio Tinto
3,878 +3.00%


Anglo American
1,865 +4.05%


Glencore
297.5 +3.24%

Gold COMEX 1,280.10 +0.02%
Silver COMEX 15.32 +0.13%
Copper COMEX 2.65 +0.02%
Brent Crude Oil NYMEX 61.52 +0.70%
Gasoline NYMEX 1.41 +0.48%
Natural Gas NYMEX 3.07 +2.33%

We end the week still in the 280 to 310p BOX

[la forge] 25/1/2019 15:49

Thank goodness its friday

any thing can happen

standby by for a surprise, if disappointed

have a gteat weekend anyways


edit

Glencore
300.1 +4.15%

[foxy22] 25/1/2019 15:45

Nein its going the other way....I thought we could make it!!!

[la forge] 25/1/2019 15:20

GLENCORE (GLEN)
- 25/01 16:04:50
298.9404 GBp +3.74%

[la forge] 25/1/2019 15:12

lol

i think we can

[foxy22] 25/1/2019 15:12

Well laforge i think we will make itTo 3.02 Come on glenda!!

[la forge] 25/1/2019 15:04

Glencore
298.85 +3.71%

ALL TOGETHER NOW THINK POSTIVELY JUST FOR FOXY

302p please lol

hes a sadist honestly

[foxy22] 25/1/2019 14:59

This is torturous...cant it get over 3.00

[maywillow] 25/1/2019 12:03

20/02/19


Year 2018 Publication of results

[maywillow] 25/1/2019 11:56

01/02/19


Year 2018 Publication activity evolution - Production Report

[the grumpy old men] 24/1/2019 20:47

ONE REASON FOR THE LOW SHARE PRICE

INVESTIGATIONS,SCANDALS AND COURT CASES

ALL OLD NEWS

JUST HOPE ITS ALL FACTORED INTO THE CURRENT SHARE PRICE

cheers and take care


TAKE IT YOU DO NOT HOLD GLENCORE

[sharpster999] 24/1/2019 20:44

It also talks about the SEC and DoJ investigations that are on going.

[sharpster999] 24/1/2019 20:36

I found it on Reddit, it looks like a leaked hedge fund report. It talks about the corruption issues in Kazakhstan and the levels of fines that Glencore may be facing.

but like you say, I'll be waiting on the real experts analysis.

[the grumpy old men] 24/1/2019 20:29

sharpster999
24 Jan '19 - 20:20 - 465 of 465
0 0 0
have you read the report? There's no way I'm using my real account to post that.

no i did not read it

will leave it for the inhouse experts but whats your take on it

[sharpster999] 24/1/2019 20:20

have you read the report? There's no way I'm using my real account to post that.