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2019-12-05 20:40:34| Guardian Unlimited Business - more business news

Companys shares are low rated and its legal and regulatory headaches are greater than everCongratulations if, in the spring of 2011, you took one look at the big 38bn stock flotation of the year and concluded the company was un-investable. Glencore has never traded above its float price of 530p. The Swiss-based mining and trading company stands at 217p after Thursdays 9% fall, which was prompted by news of an investigation by the Serious Fraud Office into suspicions of bribery.Broker Jefferies politely called the SFOs probe a new overhang on Glencore shares. The existing overhangs are inquiries by the US Department for Justice and the US Commodity Futures Trading Commission into activities in the Democratic Republic of the Congo, Venezuela and Nigeria. Thats quite a collection of serious regulatory bodies taking a look. Continue reading...


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2019-12-05 19:56:37| Guardian Unlimited Business - more business news

Up to 6,500 jobs at risk as shareholders prepare to vote on companys future The Eddie Stobart transport business, famed for its red and green lorries, is teetering on the brink of collapse with its future due to be decided at a key shareholder vote in London on Friday.The vote will pit William Stobart, the third son of the companys founder, against his childhood friend and former brother-in-law, Andrew Tinkler. Continue reading...


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2019-12-05 19:53:42| Guardian Unlimited Business - more business news

Oversubscribed listing in Riyadh of 1.5% stake in state oil company will value it at $1.7tnSaudi Aramco is poised to achieve the biggest initial public offering in history next week by raising $25.6bn (19.4bn) for the Saudi state in its market debut.The state-owned oil business will emerge as the worlds most valuable listed company after valuing its shares at 32 riyals ($8.53) apiece before its float on Riyadhs stock exchange next week. Continue reading...


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2019-12-05 19:12:38| Guardian Unlimited Business - more business news

Oil and gas firm will buy new shares from startup Lighthouse BP for undisclosed price BP has increased its stake in British solar venture Lightsource BP as it prepares to strike a deal to power its offices with renewable energy from next year.The companies announced plans to set up a 50:50 joint venture almost two years after BP made its return to the solar market by snapping up a 43% stake in Lightsource for 200m. Continue reading...


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2019-12-05 18:18:33| Guardian Unlimited Business - more business news

Lawrence Stroll, owner of Formula One team Racing point, seeking large stakeShares in Aston Martin have surged on reports that the billionaire owner of a Formula One racing team is preparing to bid for a significant stake in the luxury carmaker.Lawrence Stroll, the owner of Racing Point, is leading a consortium that is considering a stake in the British firm, according to Autocar. Continue reading...


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