The bank’s executives are battling to contain a growing scandal about its trading team, with the regulator investigating whether bond trades were manipulated.
During his heyday in the 1970s and ’80s, Sir Roderick Carnegie was a believer in the power of big corporations competing in open markets to drive human progress.
It’s good that Rio Tinto shipped 80 million tonnes of iron ore from the Pilbara in June, but think about what’s happening below the surface in Australian resources.
Shareholder approval of the deal, worth more than $1 billion including debt, was in little doubt after 19.9 per cent investor Skip Capital revealed it would back it.
The investment bank’s research analysts are bullish on Guzman y Gomez. They also have an interest in its success.