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May 2, 2024
05/24
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reuters reports that glencore has had preliminary discussions. glencore last week rejected an all stock offer from bhp -- anglo american last week rejected an all-stock offer from bhp. haidi: mike where a decline in profits. our guest joins us for a closer look. this was well signaled from it what was the weakness here? paul: the commodities business declined 47%. its contribution to the net profit from previously at major events like the russia-ukraine war had helped prop up commodity prices. it has been seeing substantially lower inventory management, according to a statement. the investment arm was another weak spot. contribution to net profit there down 48 percent. it has been a weak environment for m&a and dealmaking. no surprise that macquarie signaled this was coming. the cash dropped 3.2 5 billion. 30% decline from last year. dividends sounds pretty good. but it is down from $4.50 earlier as well. macquarie says the ongoing economic uncertainties subdued market conditions and other parts of the world as well. so a fairly downbeat forecast
reuters reports that glencore has had preliminary discussions. glencore last week rejected an all stock offer from bhp -- anglo american last week rejected an all-stock offer from bhp. haidi: mike where a decline in profits. our guest joins us for a closer look. this was well signaled from it what was the weakness here? paul: the commodities business declined 47%. its contribution to the net profit from previously at major events like the russia-ukraine war had helped prop up commodity prices....
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May 14, 2024
05/24
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does this make them ripe for purchases from others whether it is the likes of glencore or rio tinto? is anglo up for sale with its many parts then? >> i'm not really sure anglo american is really up for sale. there is a lot that can come out of anglo. of course, we know glencore is looking at it and we are pretty sure rio tinto is looking at it and i'm sure others will be. the end game for bhp is to effectively gain an approach f approval from the investment community. there are other targets out there. they have smaller copper mines, but you can acquire copper more easily in other parts of the world. i'm not sure what the full end game here. i'm not sure anglo is the end game as that target for bhp. >> putting out the word with the plans must be with regards to jobs, et cetera as well. this is that volatile market that anglo is looking at and saying we are not sure how we play a significant role in that further. other companies doing the same as bhp as we have been noticing. how do you think this plays out in the mining sector as well? with regards to further consolidation of other
does this make them ripe for purchases from others whether it is the likes of glencore or rio tinto? is anglo up for sale with its many parts then? >> i'm not really sure anglo american is really up for sale. there is a lot that can come out of anglo. of course, we know glencore is looking at it and we are pretty sure rio tinto is looking at it and i'm sure others will be. the end game for bhp is to effectively gain an approach f approval from the investment community. there are other...
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May 24, 2024
05/24
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in february we saw glencor, one of the major shareholders decide to remove itself or place the operation on maintenance so even prior to the unrest there has been difficulty because the operations they are are notoriously high cost. power prices are high as arelabour costs. so that contributes to these operations sitting at the high—end of the coast curve. it was a difficult situation prior to the unrest. you may be familiar with formula 1 but another motorsport event, formula e, makes a return this weekend to china. it's as late as generation are quicker than f1 cars that run on fuel. i spoke to the ceo and asked him about the growth he sees for electric racing. there's two ways of talking about speed. there is a top speed, over200 mph, but where we really benefit is in acceleration. the acceleration of the car, we've just launched in monaco, will get us to 100km an hour injust over 1.8 seconds, which is about 30% faster. than a current formula 1 car. that is incredible. i could just imagine the g—forces involved. formula e is returning for the first time since the pandemic. how has
in february we saw glencor, one of the major shareholders decide to remove itself or place the operation on maintenance so even prior to the unrest there has been difficulty because the operations they are are notoriously high cost. power prices are high as arelabour costs. so that contributes to these operations sitting at the high—end of the coast curve. it was a difficult situation prior to the unrest. you may be familiar with formula 1 but another motorsport event, formula e, makes a...
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May 13, 2024
05/24
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anglo-american has failed to keep up including glencore and bhp. >> and -- and -- and -- and they are under pressure so we understand we will get more details? paul: yeah, it was last year when anglo-americans board launched a formal review into its internal assets and future strategy. strategic review is the precursor to divestments or spinoffs, however shareholders have been left in the dark ever since that strategic review was launched. overnight, the company said it would release results of the review so they have been scrambling to present shareholders with an option of growth and promising value in the future. popular business will be a significant asset as the world transitions, it's a key metal and that is why vhp is seven kane their hands on it. there are a few things the board could do, the first is a fertilizer project, $9 billion project eating up a lot of money. that is one option to slow down or find a joint venture partner. two other assets, one is the diamond business struggling for quite some time and the amplatz business. we wait to see what the strategic review says
anglo-american has failed to keep up including glencore and bhp. >> and -- and -- and -- and they are under pressure so we understand we will get more details? paul: yeah, it was last year when anglo-americans board launched a formal review into its internal assets and future strategy. strategic review is the precursor to divestments or spinoffs, however shareholders have been left in the dark ever since that strategic review was launched. overnight, the company said it would release...
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May 14, 2024
05/24
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anglo has failed to keep up with glencore, bhp so it is quite undervalued. last year, the board announced they would undertake a review you of assets and the business. shareholders have been in the dark, not knowing what is next. management promised today that they would release the strategic review and outline value for shareholders. haidi: it has been underway for months and rushed into the market. what is in there that will impress shareholders? paul: it remains to be seen. a strategic review is a precursor to divestment or spin off so we will watch anglos business, fertilizer resource. a $9 billion project with something like a 34 call ahmed or tunnel. this project requires a lot of capital and no joint venture partner. that is something we are watching and the diamond business has been struggling in the current market. haidi: the scramble for copper is on. is this going to spark a wider wave of competitors? paul: yeah. most people are presuming there could be another competitive bid but they are not quite sure where that will come from. broadly speaking
anglo has failed to keep up with glencore, bhp so it is quite undervalued. last year, the board announced they would undertake a review you of assets and the business. shareholders have been in the dark, not knowing what is next. management promised today that they would release the strategic review and outline value for shareholders. haidi: it has been underway for months and rushed into the market. what is in there that will impress shareholders? paul: it remains to be seen. a strategic...
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May 3, 2024
05/24
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glencore is looking for a move that could spark a bidding war so far, it has not approached the london listed miner. bhp is not backing down either with reuters reporting that the australian mining giant is said to make an improved offer. >>> puig is set to go public in spain today after pricing shares at 24 euro the group which owns herrera is eyeing a 14 billion euro valuation. charlotte has more >> thank you, frank. very interesting to see how the ipo goes it is one of many this year in europe this could take the temperature for the appetite going forward this group, puig, based in barc barcelona. it has famous brands they really have grown recently. they acquired ten brands in the last few years the group is still led by the grandson's founder third generation who has been in charge of the group since 2004 he said the fourth generation will have no role in running the business he could be the last one at the helm there they are positioning themselves in the premium beauty segment. it has been doing quite well in fragrances in particular they are a key player. we see the ipo and how
glencore is looking for a move that could spark a bidding war so far, it has not approached the london listed miner. bhp is not backing down either with reuters reporting that the australian mining giant is said to make an improved offer. >>> puig is set to go public in spain today after pricing shares at 24 euro the group which owns herrera is eyeing a 14 billion euro valuation. charlotte has more >> thank you, frank. very interesting to see how the ipo goes it is one of many...
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May 7, 2024
05/24
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d glencore is mogoving that index higher. again, a green day across the board that we're seeing. let's look at sectors with banking in focus today. banks are up 1% after strong reports from unicredit and ubs giving the sector a bid. travel and leisure up over 1.5%. iag is moving that sector higher. iag shares moving higher a day ahead of earnings. getting a boost ahead of the big apple event later today. ubisoft is moving higher on the analyst upgrade. overall, a positive day. i want to highlight the retail sector. we get eurozone retail sectors coming up at 11:00 cet. >>> bp posted a bottom line miss with the first quarter with the earnings of $2.7 billion. that was down 40% on the year. the oil jogiant said it was dueo the outage of the key u.s. ref refinery. shares are down right now. >>> dhl with a 20% drop in earnings with the first quarter of 1.3 billion euro. the group confirmed its full-year forecast. the ceo told cnbc the company is grappling with struggling demand. >> we continue to see a bit of the economic cycle unfolding. we have an unusually long trough in global tr
d glencore is mogoving that index higher. again, a green day across the board that we're seeing. let's look at sectors with banking in focus today. banks are up 1% after strong reports from unicredit and ubs giving the sector a bid. travel and leisure up over 1.5%. iag is moving that sector higher. iag shares moving higher a day ahead of earnings. getting a boost ahead of the big apple event later today. ubisoft is moving higher on the analyst upgrade. overall, a positive day. i want to...
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May 24, 2024
05/24
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we have bhp bulletin and glencore looking at anglo american. there is a lot of activity right now, and we will see it on the technology side as well. that certainly can create opportunity for investors both on the private equity side and the public equity side. katie: just like 30 seconds, i do find it interesting that we are talking about m&a, talking about the opposite of m&a, and that is spinoffs. you look at certain indexes of spun-off companies and they are at all-time highs. what are you thinking around that space? is that an opportunity in your view? aaron: we don't look at it on the financial engineering site. we look at each company for what it is. we look at management, we look at the moat they have created or haven't created, we look at the leadership position, financials, balance sheet. we go back to the basics on every company we look at at clear harbour. recent spinoffs, particularly on the ge side, there is compelling opportunities there -- for example, on the dupont spinoff, there is a business they will be making public. we wil
we have bhp bulletin and glencore looking at anglo american. there is a lot of activity right now, and we will see it on the technology side as well. that certainly can create opportunity for investors both on the private equity side and the public equity side. katie: just like 30 seconds, i do find it interesting that we are talking about m&a, talking about the opposite of m&a, and that is spinoffs. you look at certain indexes of spun-off companies and they are at all-time highs. what...
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May 30, 2024
05/24
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rio tinto is one option, glencore is another. lizzy: you came out whether it was assigned they were open to this bhb deal? did you deduce from the fact that they got this plan that anglo to be open to one of those other suitors? >> certainly, it was the complexity of the proposal or complexity of any merger with anglo or takeover of anglo that was at stake here. anglo is a complicated business with lots of different companies, its own stakes in other units in south africa, so both bhb and anglo recognize this. anglo's structural proposal will see it selloff those businesses, so it becomes a simpler company. it becomes a simpler company for others to take in the future. that is why i am saying there is a possibility of a bigger takeover battle in the future, perhaps next year or beyond. lizzy: it ain't over yet to anyone he was disappointed. we thank you for the latest on that. it would have been mining's biggest deal in a decade, so we have got to check in on commodities. you have seen a rally in copper and iron ore prices. coppe
rio tinto is one option, glencore is another. lizzy: you came out whether it was assigned they were open to this bhb deal? did you deduce from the fact that they got this plan that anglo to be open to one of those other suitors? >> certainly, it was the complexity of the proposal or complexity of any merger with anglo or takeover of anglo that was at stake here. anglo is a complicated business with lots of different companies, its own stakes in other units in south africa, so both bhb and...
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May 20, 2024
05/24
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you are seeing big gains here with glencore moving up 1.4%. anglo american is the one to look out for and the increase in demand for the company as it continues to break part of the business up in order to restructure and try to gain as much value out of the assets. questions around different parts of the business whether in the form of diamonds or the iron/ore business or the south american operations and everyone scrambling for the copper assets. bhp managing to gain .80% and rio tinto following the market higher. these are the metals picture today. record territory across the board particularly for spot gold and copper. it is managing to hit 11,000 earlier on today. we saw copper sitting below that mark having gained nearly 300. 204% to the good. 1% uptick for gold. nickel also managing to move significantly higher. more than 2.5% so far today. >>> on to currencies. the dollar with the biggest weekly drop. you are seeing the greenback here with investors waiting for clues for the rate path in the united states. we have fed speakers on board
you are seeing big gains here with glencore moving up 1.4%. anglo american is the one to look out for and the increase in demand for the company as it continues to break part of the business up in order to restructure and try to gain as much value out of the assets. questions around different parts of the business whether in the form of diamonds or the iron/ore business or the south american operations and everyone scrambling for the copper assets. bhp managing to gain .80% and rio tinto...