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...
View ArticleZug 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...
View ArticleChina: 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...
View ArticleBern 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,...
View ArticleTrafigura 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...
View ArticleXstrata 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...
View ArticleXstrata 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...
View ArticleCommodities 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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