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☆ Is Modi Worried? India’s Long-Deflated Opposition Finds Some Momentum.
▼ + stars: | 2024-05-23 | by ( Mujib Mashal | Pragati K.B. | ) www.nytimes.com time to read: 1 min

Prime Minister Narendra Modi entered India’s general election projecting supreme confidence. “Ab ki baar, 400 paar” went his party’s slogan, meaning this time his side aimed to surpass 400 seats in the lower house of Parliament, a staggering majority. But as the seven-week voting period enters its final stretch, with results expected on June 4, India is witnessing something unusual from its powerful leader. As Mr. Modi crisscrosses the country for rallies in 100-degree heat, he has often appeared on the defensive, and sometimes rattled. He has resorted to stoking anti-Muslim sentiments to fend off attempts to split his Hindu support base, only to deny his own words later.

Persons: Narendra Modi, paar ”, Modi, — Locations: India

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsROME, Nov 23 (Reuters) - Glencore (GLEN.L) has decided to build a pilot project for an electric vehicle (EV) battery recycling plant outside of Italy, but still has its eye on the island of Sardinia for a larger facility, the Swiss mining group said on Thursday. "This development does not immediately impact the feasibility assessment of the larger hub project," Glencore said in an emailed statement. This initiative is important for our recycling strategy and aligns with Italy's objectives for sustainable industry development," the group added. Last month, Reuters reported that documents filed by Glencore as part of the environmental impact assessment procedure had been judged insufficient by Sardinia's regional administration.

Persons: Arnd, Glencore, Li, Francesca Landini, Jan Harvey, Keith Weir Organizations: REUTERS, Rights, UIL, Reuters, Thomson Locations: Baar, Switzerland, Italy, Sardinia, Swiss, Portovesme, Europe, North America, CISL, Sardinian

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsROME, Nov 23 (Reuters) - Glencore (GLEN.L) has decided to build a pilot project for an electric vehicle (EV) battery recycling plant outside of Italy, but still has its eye on the island of Sardinia for a larger facility, the Swiss mining group said on Thursday. "This development does not immediately impact the feasibility assessment of the larger hub project," Glencore said in an emailed statement. This initiative is important for our recycling strategy and aligns with Italy's objectives for sustainable industry development," the group added. The Swiss group did not specify where it would build the pilot plant.

Persons: Arnd, Glencore, Li, Francesca Landini, Jan Harvey, Keith Weir Organizations: REUTERS, Rights, Union, Hub, Reuters, UIL, Thomson Locations: Baar, Switzerland, Italy, Sardinia, Swiss, Portovesme, Europe, North America, Sardinian, CISL

☆ Top companies' lobbying undermines their climate pledges, study finds
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

InfluenceMap uses the United Nations' High-Level Expert Group's (HLEG) 'Integrity Matters' guidance on the need to align lobbying with climate commitments. Catherine McKenna, Chair of the U.N.'s HLEG on Net Zero Emissions Commitments of Non-State Entities, said the findings should be a "wake-up call" for businesses. "Not only are many companies choosing to undermine their own climate commitments by lobbying against climate action, their net zero commitments are simply not credible," she said. InfluenceMap, founded in 2015 to encourage action to tackle the climate crisis, highlighted companies at the most significant risk of 'net zero greenwash'. "Governments are failing to progress climate policy at the speed needed, and corporate influence is a key reason why," said Will Aitchison, the study's lead author.

Persons: Arnd, Catherine McKenna, InfluenceMap, Glencore, Will Aitchison, Tommy Reggiori Wilkes, Barbara Lewis Organizations: REUTERS, ExxonMobil, Forbes, Nations, European Union, U.S . Environmental, Stellantis, Thomson Locations: Baar, Switzerland, U.S

☆ Tullow in $400 million debt deal, Ghana oil marketing pact with Glencore
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsNov 13 (Reuters) - Tullow Oil (TLW.L) said on Monday it signed a $400 million five-year debt deal with Glencore (GLEN.L) to help manage its senior notes maturing through 2026 and will see the trading house take over marketing the crude from its flagship Ghana oilfields. The facility "significantly de-risks" Tullow's ability to refinance its 2026 notes, Peel Hunt analysts wrote in a note. Tullow's shares were up 3.6% at 31.5 pence in early trade. The company also signed an oil marketing and offtake contract with Glencore for Tullow's crude oil entitlements in Ghana and Gabon. Tullow reiterated its free cashflow guidance of $800 million between this year and 2025.

Persons: Arnd, Rahul Dhir, Peel, Tullow, Radhika Anilkumar, Shadia Nasralla, Savio D'Souza, Jason Neely Organizations: REUTERS, Glencore Energy UK Ltd, Peel Hunt, Glencore, Thomson Locations: Baar, Switzerland, Ghana, Gabon, Bengaluru, London

☆ Glencore may look elsewhere for recycling hub after Italy rejects fast-track approval
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +2 min

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsMILAN, Oct 1 (Reuters) - Glencore Plc (GLEN.L) may look at alternative options for a recycling hub in Europe for electric car batteries after the Italian region of Sardinia rejected a fast-track approval process for its pilot project, the mining company said. The companies said they would set up the hub in Portovesme, in Sardinia, by re-purposing Glencore's existing production sites on the island. Sardinia's regional government said on Friday the pilot project for the recycling hub could not be granted a fast-track approval process. "Glencore may consider alternative options for a European battery materials processing hub if the unnecessary extension of the approval process results in a delayed timeline that makes the project economically unviable," it said.

Persons: Arnd, Glencore, Francesca Landini, Jane Merriman Organizations: REUTERS, Glencore, Cycle Holdings, Thomson Locations: Baar, Switzerland, Europe, Italian, Sardinia, Italy, Portovesme

☆ $1 bln metals SPAC deal backed by Glencore, automakers collapses
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +3 min

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. In June, global miner Glencore (GLEN.L), Chrysler parent Stellantis (STLAM.MI) and Volkswagen's (VOWG_p.DE) battery unit PowerCo agreed to back the deal through an equity investment. Weak economic data from the world's largest metals consumer China, which it has reported since August, affected the investors' appetite for the deal, a source, directly familiar with the situation, told Reuters. "The deal fell apart over price," said another source familiar with the situation, adding the price was higher than the buyers considered realistic after the nickel price declined. Reporting by Polina Devitt and Clara Denina; editing by Timothy Gardner and David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, ACG, Glencore, Appian, Sibanye, Polina Devitt, Clara Denina, Timothy Gardner, David Gregorio Our Organizations: REUTERS, Appian Capital, Chrysler, Reuters, South Africa's, Thomson Locations: Baar, Switzerland, London, Appian, China, Stillwater

☆ Glencore, automakers to back $1 bln nickel, copper SPAC deal in Brazil
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, September 30, 2015. Glencore will invest $100 million in ACG equity. Stellantis and mining investment fund La Mancha Resource Capital will each provide an equity investment of the same amount, while PowerCo will make a $100 million nickel prepayment. During the process, ACG will become ACG Electric Metals and issue new shares, making Glencore, Stellantis and La Mancha owners of 51% and leaving 49% for free float, Artem Volynets, ACG chief executive, told Reuters. The deal "will establish ACG Electric Metals as a premier supplier of critical metals into the western EV value chain," Volynets said.

Persons: Arnd, ACG, Mick Davis, PowerCo, Artem Volynets, Appian, Sibanye, Volynets, En, Rusal, Polina Devitt, Clara Denina, Kirsten Donovan, Jason Neely Organizations: REUTERS, Chrysler, Company, Santa, Appian, Chartered, Citigroup, Blue Resources, Metals Acquisition Corp, Glencore, La, La Mancha Resource, Metals, Reuters, South Africa's, Hong, Thomson Locations: Baar, Switzerland, Brazil, London, New York, Western Europe, North America, La Mancha, Stillwater, Santa Rita, Hong Kong

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd WiegmannApril 19 (Reuters) - Glencore (GLEN.L) has told Teck Resources (TECKb.TO) shareholders it is willing to improve its $22.5 billion takeover offer, raising pressure on the Canadian miner to ditch a restructuring plan and sit down at the negotiating table. In an open letter on Wednesday, Glencore said it would consider taking the offer to Teck's shareholders directly if the board failed to engage. "With engagement, we could improve our proposal's terms and value, which would be in the best interests of all Teck shareholders." "The vote (on Teck's restructuring plan) is highly likely to go through without an official bump in terms (from Glencore)," Ben Cleary, portfolio manager at Tribeca Global Natural Resources Fund, told Reuters.

☆ Glencore raises pressure on Teck Resources with promise of higher bid
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. In an open letter on Wednesday, Glencore said it would consider taking the offer to Teck's shareholders directly if the board failed to engage. Glencore Chief Executive Gary Nagle flew to Canada to meet shareholders last Thursday after revising its unsolicited bid to include up to $8.2 billion in cash. Teck's board rejected that as too low, adding that it would unnecessarily expose shareholders to a large thermal coal business and an unwanted oil trading unit. Glencore's proposal would combine and spin off its thermal coal unit and Teck's steelmaking coal business.

☆ Glencore courts 120 Teck investors for bid backing as spinoff vote looms -source
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. The Swiss mining giant would instead combine and spin off its thermal coal unit and Teck's steelmaking coal business. Glencore's initial bid represented a 20% premium to Teck's closing stock price on March 26, when it was made privately. JP Morgan analysts said in a note on Monday that Glencore could pay as much as $27.2 billion. Reporting by Clara Denina; Additional reporting by Mrinalika Roy; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Russian court orders Glencore unit to pay up in Sberbank row
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, September 30, 2015. REUTERS/Arnd WiegmannSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Feb 23 (Reuters) - A Russian arbitration court said it has ordered a subsidiary of Swiss commodities trader Glencore (GLEN.L) to pay about 118 million euros ($125 million) to Russian state lender Sberbank (SBER.MM) amid a row over unpaid oil supplies. Sberbank took legal action against Glencore Energy UK Ltd last year after it alleged the company did not pay for two oil consignments supplied by a subsidiary of Sberbank in March due to sanctions. Glencore declined to comment on the court's ruling, which was issued on Feb. 21 but made public on Thursday. ($1 = 0.9433 euros)Reporting by Reuters; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File PhotoLONDON, Dec 6 (Reuters) - Shares in miner and trader Glencore (GLEN.L) fell as much as 3.5% on Tuesday after 2023 production guidance across all the commodities it mines missed consensus estimates. The company gave guidance towards copper production of 1.04 million tonnes in 2023, down from 1.06 million this year and compared to a consensus of analysts at 1.124 million tonnes. Glencore expects 2022 EBITDA (earnings before interest, tax, depreciation and amortization) at $28.7 billion and free-cash-flow at $14.7 billion. Roughly 20% of total copper output comes from the mine.

☆ From a Punjab village to 'RushTok': How a local police constable's hit song became a viral trend
▼ + stars: | 2022-09-16 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +12 min

A viral dance trend on TikTok that’s caught on with everyone from “RushTok” pledges to Jimmy Fallon is based on an unexpected beat — the song “Kala Chashma,” which started in a small Punjab village and made its way to Bollywood. It’s followed by a turntable scratch and several components of contemporary sound effects used in Western music and electric dance music before the autotuned lyrics begin. “I knew if she was in our village, everyone would stop and admire her beauty.”Beaster-Jones said Shera’s inspiration for “Kala Chashma” is common for Punjabi songs. Sidharth Malhotra and Katrina Kaif in "Baar Baar Dekho." But the one thing we always had was ‘Kala Chashma,’” Zaria Parvez, an online content creator, said in a TikTok.

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