Goldman Sachs may be one of the last firms standing as a rocky romance between Wall Street and raw material markets turns sour.» Read More
NEW YORK/ LONDON, Dec 6- Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron& Company, becoming one of the first banks to enter the commodity markets. On Thursday, Deutsche Bank, one of the five biggest players of the past decade, said it would quit commodities trading under regulatory pressure, cutting 200 jobs.
LAS VEGAS, Dec 5- The London Metal Exchange asked a panel of U.S. judges on Thursday to assign a federal court in Manhattan to handle a series of antitrust lawsuits that allege the world's largest metal exchange, two of Wall Street's biggest banks and big commodity merchants conspired to raise the price of aluminum.
*LME, UK regulator meet with warehousing companies. LONDON, Dec 5- The London Metal Exchange has showed its teeth to guard industrial users of materials like aluminium against steep rises in charges by owners of warehouses in its global storage network.
*Iran expected to boost wheat imports in coming months. LONDON/ HAMBURG, Nov 28- After years of difficulty caused by economic sanctions, suppliers are hoping a nuclear deal will make it easier to win lucrative contracts to sell wheat, sugar and other food to Iran.
LONDON, Nov 27- Copper was steady on Wednesday as a weaker dollar against the euro offset the impact of an improving supply pipeline of metal and investor caution ahead of U.S. data later in the session. Three-month copper on the London Metal Exchange was $7,070 a tonne in official rings from $7,065 at the close on Tuesday.
NEW YORK/ LONDON, Nov 27- JPMorgan Chase& Co decided in May to divest its Henry Bath metal warehousing company after a three-year struggle to conform the business to banking regulations, according to letters received by Reuters through a Freedom of Information Act request.
SINGAPORE, Nov 27- London copper was little changed on Wednesday as markets lost direction ahead of Thanksgiving holidays in the United States, but prices were on track for their biggest monthly fall since June on expectations of improving supply.
NEW YORK/ TORONTO, Nov 26- Teck Resources Ltd, Newmont Mining Corp, private equity firm Blackstone Group LP and a firm led by the former head of Barrick Gold are working together on a bid for Glencore Xstrata's Las Bambas copper mine in Peru, according to several people familiar with the matter.
Nov 26- Ecuador's Socialist President Rafael Correa has often railed against allowing private trading firms to control the country's oil shipments, a top source of export revenue.
NEW YORK, Nov 26- China's aggressive quest for foreign oil has reached a new milestone, according to records reviewed by Reuters: near monopoly control of crude exports from an OPEC nation, Ecuador.
Expectations that trading houses might warm up to IPOs have been on the rise since the successful share float by Glencore. Trafigura had said an initial public offering was one of the options for Puma, and a number of analysts said they saw Puma as a potential candidate, not least because of some similarities between the parent and Glencore.
HONG KONG/ LONDON, Nov 25- Chinalco, the largest aluminium producer in China, has dropped out of the race for Glencore Xstrata's $5.9 billion Las Bambas copper mine in Peru, leaving Minmetals as the front-runner, sources familiar with the matter said.
Swiss voters rejected a proposal on Sunday to cap the salaries of top executives at 12 times that of a company's lowest wage.
ZURICH, Nov 24- Swiss voters rejected a proposal on Sunday to cap the salaries of top executives at 12 times that of a company's lowest wage, heeding warnings from industry leaders that the measure could harm the country's economy.
*Dominated by big groups such as Goldman Sachs, Glencore. LONDON/ NEW YORK, Nov 21- Sweeping warehouse rule changes proposed by the London Metal Exchange will spur a resurgence of independent storage firms after several years of dominance by big groups such as Goldman Sachs and Glencore Xstrata.
NEW DELHI, Nov 21- Indian Oil Corp became India's first state-refiner to buy Canadian oil, further evidence that trade routes have been redrawn by the U.S. shale oil boom. IOC joined private Indian refiners Reliance Industries and Essar Oil in buying Canadian oil.
*Almost 30 pct of seaborne coal sold at a loss- Glencore. *Glencore to raise S.African coal production by 55 mln tonnes/year. LONDON, Nov 20- Thermal coal prices will rise in the medium term as current prices force many producers to export at a loss and because booming electricity demand in Asia will drive up the market, said mining major Glencore Xstrata.
ZURICH, Nov 19- Switzerland will vote on Sunday on whether to limit the salaries of top executives so they don't earn more in a month than the lowest paid workers earn in a year, a move that could mean big pay cuts for business leaders earning millions.
By the end of the third quarter, Colombia's coal production was 11.2 percent below output in the first nine months of 2012, the National Mining Agency said last week, a narrower gap than the 13.2 percent lower production in the first half.
*Copper smelter shutdown and China output underpin prices. *Jiangxi Copper and Freeport agree on higher treatment charges. LONDON, Nov 18- Copper dipped near three-month lows on Monday as expectations of a growing surplus of the metal and a lack of immediate measures to boost commodities demand in China's reform package offset a softer dollar.