GFM Network News

Glencore ready for deals and dividends after profit boost

Reading Time: 2 minutes London | Reuters –– Commodities trader and miner Glencore reported an 18 per cent rise in full-year profit on Thursday, buoyed by a rebound in raw materials prices, and said it was well-placed financially for small acquisitions or a special dividend payout. Analysts said the results beat expectations, driving the share price nearly two per […] Read more

Glencore sells 40 per cent of agribusiness to CPP

Reading Time: 2 minutes London | Reuters –– Commodity miner and trader Glencore has agreed to sell 40 per cent of its agricultural unit to Canada’s state pension fund for US$2.5 billion, the company’s latest step to cut debt and soothe investor concerns about the impact of weak commodity prices. The sale values the agricultural unit as a whole […] Read more

Louis Dreyfus ring-fences some units, considers options

Reading Time: 2 minutes London | Reuters — Louis Dreyfus Commodities is ring-fencing its crop inputs, metals, juice and dairy units and is considering options ranging from joint ventures to the sale of certain assets, a senior company source said. In December, Reuters reported the trade house had been seeking buyers for its juice and fertilizer units for some […] Read more

Russia ‘completely’ blocks Canadian meat, fruit, vegetable imports

Reading Time: 5 minutes Moscow/Kiev | Reuters — Moscow imposed a total ban on imports of foods from Canada and other Western nations on Thursday in retaliation against sanctions over Ukraine, a stronger than expected measure that isolates Russian consumers from world trade to a degree unseen since Soviet days. In eastern Ukraine, a Dutch recovery team called off […] Read more