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The Latest Breaking News from Glencore

Taxpayer bailouts are common, yet rarely make economic sense. Here’s how to strike a better balance

Most market economists oppose the idea of large corporate bailouts, where taxpayer funds are used to provide failing companies with financial assistance.

The Conversation

Loan ‘irregularities’ led to collapse of Prax Lindsey oil refinery

Administrator was appointed after parent company State Oil given new information about £783m loan

The Guardian - UK

FTSE eases on weak US data as Ukraine peace summit looms

Donald Trump and Vladimir Putin will meet later in Alaska.

Evening Standard

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Plan to extend Queensland coalmine would bulldoze ‘critical’ koala habitat

Glencore says it is working with state and federal governments to minimise the impact of flora and fauna in the 680ha area west of Mackay

The Guardian - AU

Coal mine project threatens 'significant' koala habitat

A drone investigation by conservation groups and ecologists has found an important koala colony living in the path of a proposed coal mine expansion.

AAP

Boost for London Stock Exchange as £35bn mining company U-turns on move to US

Glencore said earlier this year they were headed Stateside - but valuation concerns have prompted a rethink

The Independent UK

Glencore to stick with main listing in boost to London market

The Swiss mining giant also warned over job losses as it aims to cut costs by the end of 2026.

Evening Standard

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Miner Glencore decides against moving stock market listing from London to US

Company, which has reported 37% drop in profits, says switch would not present value for shareholders

The Guardian - UK

Business news live: Novo Nordisk hit by slowing Ozempic sales, Tesla shareholders sue Musk over Robotaxi

Stock market news and latest business and finance updates from Wednesday

The Independent UK

Smelter owners urged to put more on the table

The federal government has not ruled out any support measures as it calls on a mining giant to step up and save a copper smelter in regional Australia.

AAP

'Economic death spiral' fear over ailing copper smelter

A delegation is visiting Canberra to plead for a bailout for the copper industry to prevent an "economic death spiral" in north Queensland.

AAP

FTSE 100 climbs as earnings cascade brings cheer

Shares of Games Workshop, AstraZeneca, Barclays and Entain moved higher.

Evening Standard

Copper smelter rescue talks approach melting point

Closure of a copper smelter and refinery would be a "national disgrace" says a treasurer calling for their operator and federal government to come to the table.

AAP

UK watchdog investigates eight years of Deloitte audits of mining firm Glencore

FRC examines whether accounting firm ‘gave sufficient consideration to risk of non-compliance with laws’

The Guardian - UK

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AAP

Thousands of jobs at risk as miner pleads for support

A major mining company says it might have to mothball two of its operations, putting thousands of jobs in danger, if more government support is not offered.

Evening Standard

London stocks close higher as latest US tariff rates received

The FTSE 100 index closed up 47.65 points, 0.5%, at 8,854.18.

The Guardian - UK

‘The bubble had to burst’: the inside story of the Lindsey oil refinery collapse

Prax Group’s sudden demise surprised some, but others saw ‘a house of cards’ built on a thirst for debt-fuelled growth

International Business Times

UN Expert Says Firms 'Profiting' From 'Genocide' Of Palestinians

UN rights expert Francesca Albanese on Thursday denounced companies she said "profited from the Israeli economy of illegal occupation, apartheid, and now genocide", in a report that provoked a furious response from Israel.

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Radio France Internationale

DR Congo extends cobalt export ban by three months

The Democratic Republic of Congo has extended by three months a ban on exports of cobalt in a bid to curb oversupply of the electric vehicle battery material, the country's regulatory agency has said.

The Guardian - UK

The Guardian view on Zambia’s Trumpian predicament: US aid cuts are dwarfed by a far bigger heist

Editorial: As the US decries corruption, a paper suggests the real scandal is multinationals legally extracting billions from Africa’s resource-rich nation

The Guardian - UK

Cobalt firm taps in to electric car boom with £174m London stock market float

Cobalt Holdings aims to buy up supply of the metal from Glencore as slowing EV growth has pushed down prices

The Independent UK

HSBC set to face pressure on climate commitments at shareholder meeting

The UK’s largest bank will be challenged to restate its commitment to net zero at its annual general meeting in London on Friday.

The Independent UK

HSBC accused of ‘bulldozing through’ key climate policy with $1bn Glencore deal

New analysis from the Bureau of Investigative Journalism and The Independent has found that in May 2023 the bank helped raise funds for the mining giant despite climate promises

Evening Standard

FTSE 100 suffers biggest daily decline since start of pandemic

The index plummeted by 419.75 points, or 4.95%, to close at 8,054.98.

The Guardian - AU

Methane emissions from Queensland mine may be gross underestimates, UN research finds

Data collected by two planes suggests large open-cut coalmine in Bowen Basin is releasing methane at higher rates than official estimates

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