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Crude oil price closes at 10-month high

GenevaLunch News Oil prices rose to their highest since October 2008 in trading 24 August. A barrel of light sweet crude oil trading on the NY Mercantile Exchange (Nymex) for October delivery touched...

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Zug man becomes Australia’s surprise billionaire

GenevaLunch News ZUG, SWITZERLAND - Ivan Glasenberg of Zug is making headlines in Australia, as the country’s surprise new number two billionaire – surprise in part because few knew Glasenberg was...

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China: Cautious growth and greater role of renminbi expected

GenevaLunch News LAUSANNE, SWITZERLAND – China’s renminbi, which Beijing has begun cautiously promoting as an internationally accepted trading currency, may surprise us, HSBC’s global head of commodity...

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Bern calls for dialogue, integrity in commodities world

GenevaLunch News LAUSANNE, SWITZERLAND – Greater transparency in the commodities industry and improved dialogue with the public and regulators would benefit all stakeholders, says Alexander Karrer,...

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Trafigura to move trading headquarters to Singapore

GenevaLunch News GENEVA, SWITZERLAND – Trafigura, the world’s third largest commodities trading company, announced it will be moving its legal headquarters from Geneva to Singapore, lured by lower...

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Xstrata board nods deal with Glencore

GenevaLunch News GENEVA, SWITZERLAND – The board at mining giant Xstrata gave its approval Monday 1 October to a £21.9 billion takeover bid by commodities trader Glencore, and recommended that its...

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Xstrata shareholders join Glencore’s to approve merger

GenevaLunch News Zug-based conglomerate to be world’s fourth largest mining company GENEVA, SWITZERLAND – Xstrata shareholders followed their Glencore counterparts to approve a merger valued at $67...

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Commodities trading now 3.5% GDP, says Bern

GenevaLunch News GENEVA, SWITZERLAND – The commodities trading business will be watched more closely, but will not come under the thumb of regulators, the Swiss government said Wednesday 27 March. The...

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