in reporting lower profit, as economic growth, including in major consumer China, remained lacklustre.
Glencore's adjusted core earnings, or earnings before interest, tax, depreciation and amortisation , fell to $9.39 billion in the six months through June, from $18.92 billion a year earlier. Analysts at Deutsche Bank had expected half-year earnings of $9.9 billion, while Citi's estimate was $11.4 billion.
"As the world moves towards a low-carbon economy, we remain focused on supporting the energy needs of today whilst investing in our transition metals portfolio," CEO Gary Nagle said. The company announced additional returns of around $2.2 billion, lifting total announced shareholder payouts this year to $9.3 billion, and said that its divestment of agricultural business Viterra and subsequent merger with U.S. giant Bunge is expected to close in the middle of 2024.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ICE Overcomes Trustbusters' Objections in Black Knight AcquisitionThe U.S. Federal Trade Commission has dropped a lawsuit against Intercontinental Exchange's $11.7 billion acquisition of Black Knight after 15 months, two divestitures, and an 11% price cut. This development indicates that trustbusters are occasionally willing to concede. ICE, the operator of the New York Stock Exchange, announced its intention to acquire Black Knight for $13.1 billion in May 2022. The issue arose as both companies are involved in selling software to housing lenders.
Source: Reuters - 🏆 2. / 97 Read more »
ICE Overcomes Hurdles in Acquisition of Black KnightThe U.S. Federal Trade Commission has dropped a lawsuit against Intercontinental Exchange's $11.7 billion acquisition of Black Knight after 15 months, two divestitures, and an 11% price cut. This development indicates that trustbusters are sometimes willing to concede. ICE, the operator of the New York Stock Exchange, announced in May 2022 its plan to acquire Black Knight, a mortgage technology provider.
Source: Breakingviews - 🏆 470. / 51 Read more »
ICE successfully completes $12 billion acquisition of Black KnightAfter 15 months, two divestitures, and an 11% discount, the $12 billion sale of Black Knight to the NYSE operator, ICE, is set to close as deal enforcers drop a lawsuit. This development indicates that even FTC chief Lina Khan is willing to settle if merger participants make enough concessions.
Source: Breakingviews - 🏆 470. / 51 Read more »