The Swedish billionaire who took control of the world’s fourth-largest oil trader last week buying out his Russian co-founder may soon look for a new partner. He says the ownership is too concentrated.
Mining companies have weathered a trough and begun renewing interest among investors after cost reductions enhanced valuations, said Evy Hambro, who runs the $7.3 billion World Mining Fund at BlackRock Inc.
Australia’s dollar, the best performing major currency this month, is poised to rally a further 2.9 percent against the dollar after completing a trading pattern known as an inverted head-and-shoulders.
Anglo American Plc, the metals producer reviewing global assets to boost profit after replacing its chief executive officer, has started correcting years of “self-harm,” Sanford C. Bernstein Ltd. said.
Naspers Ltd., Africa’s largest media company, needs to convince investors it will grow profit if South Africa’s second-worst performing stock this month is to curb a slide led by its stake in a Chinese company.
Citic Group Corp., the state-owned company that describes itself as a pilot of China’s economic reform, plans to make billions of dollars of its assets part of a Hong Kong unit. Shares of the unit surged by a record.