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Top related persons:
Jose Cendon - 2
Top related locs:
Teck Resources Switzerland Japan
Top related orgs:
Bloomberg News - 2 Resources - 1 Nippon - 1 South - 1

Search resuls for: "Jose Cendon"


3 mentions found


☆ Teck Resources Nears Deal to Sell Coal Business to Glencore
  + stars: | 2023-11-14 | by ( Julie Steinberg | Ben Dummett | ) www.wsj.com   time to read: 1 min
Swiss-based Glencore has been rare among major resources groups in sticking with coal. Photo: Jose Cendon/Bloomberg NewsCanadian miner Teck Resources is in advanced talks to sell its coal assets to mining and trading giant Glencore in a deal that would cap a lengthy saga and be one of the biggest in mining this year. The deal would value the business at close to $10 billion and could be announced as soon as this week, assuming the talks don’t fall apart, according to people familiar with the matter.
Persons: Jose Cendon Organizations: Bloomberg News Locations: Teck Resources
☆ Glencore-Led Group to Buy Teck’s Coal Business
  + stars: | 2023-11-14 | by ( Julie Steinberg | Ben Dummett | ) www.wsj.com   time to read: 1 min
Swiss-based Glencore has been an outlier among major resources groups in sticking with coal. Photo: Jose Cendon/Bloomberg NewsCanadian miner Teck Resources said it is selling its coal assets to a group led by mining and trading giant Glencore in a deal that would cap a lengthy saga and be one of the biggest in mining this year. The transaction would value the business at around $9 billion. Under the terms of the deal, Switzerland-based Glencore will pay $6.93 billion for a 77% stake. Japan-based steelmaker Nippon will hold a 20% stake after converting existing holdings in some of Teck’s coal operations and paying cash, while South Korean steelmaker Posco will hold a 3% position after converting its holdings.
Persons: Jose Cendon Organizations: Bloomberg News, Resources, Nippon, South Locations: Switzerland, Japan
☆ Credit Suisse Lays Bare UBS’s Chance and Challenge
  + stars: | 2023-04-24 | by ( Stephen Wilmot | ) www.wsj.com   time to read: 1 min
On the face of it, Credit Suisse had probably its best-ever quarter. Photo: Jose Cendon/Bloomberg NewsCredit Suisse is in terrible shape, but UBS is being well paid to nurse it to health. Bizarre quarterly results from the failed bank on Monday put fresh numbers on the risk-return bargain at the heart of Switzerland’s rescue merger. On the face of it, Credit Suisse had probably its best-ever quarter, with pretax profit equivalent to roughly $14.4 billion. Stripping out one-time effects, though, Credit Suisse’s loss before tax swelled to about $1.5 billion, compared with $1.1 billion in the previous quarter, when the crisis of outflows that eventually sank the ship started.
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