Exports of liquefied natural gas are contracting for a second year, diminishing the number of available cargoes at a time when companies from Vitol Group to Glencore Xstrata Plc are expanding their trading teams.
Alex Beard, deputy director of Tate and a man with a strong business background, will head the Royal Opera House in London, replacing Tony Hall. He takes over one of the world’s top opera and ballet companies.
Glencore International AG Chief Executive Officer Ivan Glasenberg will own 15.8 percent of the commodities company after its initial public offering this month, which may value his stake at about $9.6 billion.
Glencore International AG’s initial public offering may value Chief Executive Officer Ivan Glasenberg ’s stake at $9.6 billion, more than Google Inc. and Blackstone Group LP’s founders reaped in their IPOs.
Glencore International Plc, the commodities company that sold $10 billion of stock in the world’s biggest initial share sale this year, ended its first trading day in London at the same price offered to investors.
Ivan Glasenberg, chief executive officer and largest shareholder of Glencore International Plc, will reap a higher dividend of $173 million for 2012, even after the commodities trader reported a drop in profit.
Oil rose in New York after home prices in 20 U.S. cities dropped at a slower pace in February, bolstering optimism that economic expansion will accelerate in the world’s biggest crude-consuming country.
Glencore International Plc Chief Executive Officer Ivan Glasenberg has had $1.1 billion wiped off the value of his stake in the company in three days as the stock slumps on missed earnings estimates and lower commodity prices.