LME Is Keeping a Closer Watch as Energy Traders Bet on Metals
The world's top energy traders arrived in metals with a splash this year, building huge positions that give them growing influence over prices.
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BNP Paribas in advanced discussions to buy Mercedes-Benz's leasing unit
BNP Paribas is in advanced negotiations to acquire Athlon, the leasing subsidiary of Mercedes-Benz Group, reported Bloomberg, citing sources. Sources also suggested the deal could be valued at around €1bn ($1.2bn), although they caution that discussions are ongoing and may not necessarily materialise into a deal. The potential acquisition is part of Mercedes-Benz's review of its business operations. Both BNP Paribas and Mercedes-Benz have refrained from commenting on the matter. Earlier this year, the company had previously reached out to prospective buyers to assess interest in Athlon, a division it acquired in 2016 from Rabobank for around €1.1bn. Through its subsidiary Arval, BNP Paribas is already engaged in the vehicle leasing market. Bloomberg News noted that Mercedes-Benz has faced challenges in maintaining profitability amid a cooling demand for its vehicles, particularly in China, and slower growth in Europe. The report added that these issues have been compounded by tariffs introduced by the US on European auto imports, prompting the company to adjust its profit outlook. Last month, Arval extended its partnership with CaixaBank Payments & Consumer, a subsidiary of Spain's CaixaBank, until 2030. This partnership is focused on the development of mobility solutions with an emphasis on sustainability and financial product innovation. The extended tie-up plans to support the transition to cleaner transportation by financing 200,000 vehicles by 2030. The goal is to promote fleet renewal with safer, more eco-friendly vehicles, reducing CO₂ emissions and enhancing air quality in urban areas. "BNP Paribas in advanced discussions to buy Mercedes-Benz's leasing unit" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Freddie Bharucha Named Next CEO of P&G Beauty
The top-level changes at Procter & Gamble continue. Three weeks after the consumer goods giant announced chief executive officer Jon Moeller will retire on Jan. 1, with Shailesh Jejurikar becoming CEO, the company has announced big changes to its beauty division, too. More from WWD The 11 Best Waterproof Eyeliners That Don't Budge, Tested and Reviewed by Editors EXCLUSIVE: Keke Palmer Reawakens the Past in Original Three-part Beauty Series Titled 'Glam Through the Ages' The 12 Best Sunscreens to Wear Under Makeup, Tested by Editors Alex Keith, largely credited with architecting the division's success over the last decade, will retire as CEO for P&G's beauty division effective Feb. 20. Freddy Bharucha, currently president, global personal care, will be appointed CEO, P&G Beauty, effective Dec. 1. In this role, Bharucha will lead P&G's $15 billion global beauty portfolio and will be based in Geneva, Switzerland, where P&G's Europe headquarter offices are based. During her tenure, Keith, a chemical engineer by training, harnessed her instinct for human chemistry to crack a code no one else has been able to solve for the last decade: how to create a winning formula for Procter & Gamble's beauty business. Keith spent more than 20 years working in the beauty industry, including the last eight as CEO, transforming the business into the fourth largest beauty company in the world, according to the 2024 Beauty Inc Top 100, WWD's annual ranking of the world's largest beauty companies by sales. Her key accomplishments include transforming Olay into a mass skin care behemoth, as well as rejuvenating hair care brands such as Pantene and Herbal Essences. More recently, she took the company into new territory, creating P&G's Specialty Beauty division and acquiring buzzy brands like Native, Ouai and Mielle. 'The ability to guide and grow a global business at this scale — powered by a tremendous organization and inspired by consumers who love beauty as much as I do — has been an absolute privilege,' Keith said in a statement. 'I'm proud of the momentum this business continues to realize each subsequent year and I take much joy in seeing how our brands and our people have grown — and will continue to do so. As part of that, I'm grateful to have had the opportunity to work closely with Freddy these many years and help him develop into the leader he is today. I know he will thrive as P&G Beauty's next CEO and will help our business thrive, too.' Bharucha comes to the role with leadership experience working in nearly every region P&G operates in and with more than 20 years working in the beauty industry. This includes leading skin care and personal care businesses in China as well as hair care businesses in North America and Asia. 'I'm deeply honored by the opportunity to continue building P&G Beauty's legacy — a legacy that Alex and P&G's beauty organization have expertly and passionately crafted over the past several years,' he said in a statement. 'Alex and I share a true love for this industry, for developing strong, growthful brands and for serving consumers in ways that make their everyday lives a little better.' As part of the changes, P&G announced that Artur 'Litar' Litarowicz, currently senior vice president, P&G Beauty Europe, has been named president, P&G Personal Care, with oversight of the global and North America personal care business. Sue Kyung Lee will continue to lead P&G's global skin care business, including SK-II. This comes as P&G is undergoing a leadership change at the very top: Jejurikar, currently chief operating officer, will succeed Jon Moeller as president and CEO, effective Jan. 1. Moeller will become executive chairman of P&G, whose other brands include Pampers, Tide and company reported fiscal year 2025 fourth-quarter net sales of $20.9 billion, up 2 percent versus the prior year and a touch above Wall Street estimates. Organic sales, which excludes the impacts of foreign exchange and acquisitions and divestitures, also increased 2 percent. Within that, beauty segment organic sales rose 1 percent year-over-year. Best of WWD Which Celebrity Brands Are Next for a Major Deal? Lady Gaga, Beyonce and More Possible Contenders for the Next Corporate Prize The Best Makeup Looks in Golden Globes History A Look Back at Golden Globes Best Makeup on the Red Carpet, From Megan Fox to Sophia Loren [PHOTOS] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Global Lithium seals mining native title deal for Manna lithium project
Australian Securities Exchange (ASX)-listed Global Lithium Resources has signed a Native Title Mining Agreement involving its subsidiary, GLR Australia, and the Kakarra Part B Native Title Group. The agreement is said to be a key development for both parties, enabling the advancement and management of the Manna lithium project in Western Australia. The agreement is expected to provide 'benefits' to the Kakarra Part B Native Title Group while allowing Global Lithium to proceed with the development and operations of the project. These include various work streams and necessary approvals related to the definitive feasibility study and the mining lease application, which are expected to reach significant milestones by the end of the calendar year. Global Lithium managing director Dianmin Chen said: 'Successfully negotiating a Native Title Mining Agreement that ensures the Kakarra Part B Native Title Holders will benefit from the future development of the Manna Lithium Project, alongside the company's shareholders, was a priority for me and my team when taking on the role of managing director in February 2025.' Chen acknowledged the efforts of the legal and commercial teams from both sides for their collaboration throughout the negotiation process. The Manna lithium project is recognised as the third-largest lithium resource in the Eastern Goldfields region, with a mineral resource estimate of 51.6 million tonnes at a grade of 1% lithium oxide. Kakarra Traditional Owner Dennis Forrest said: 'We believe this Native Title Mining Agreement over the Manna Project has the potential to provide lasting benefits to our community, and we look forward to seeing a lithium mine get built there in the near future.' "Global Lithium seals mining native title deal for Manna lithium project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
