Latest news with #Trott
Yahoo
3 hours ago
- Business
- Yahoo
Exclusive-Rio Tinto weighs sale of titanium business, sources say
By Clara Denina, Ernest Scheyder and Melanie Burton (Reuters) -Rio Tinto is considering a possible sale of its titanium unit due to weak prices and low returns, three sources said, just as incoming CEO Simon Trott will weigh up a restructuring of the world's second-largest miner when he takes over next month. Titanium, used to make paints, cosmetics and food colouring, is also a vital ingredient in jet engine parts, missile casings, rocket components, submarines and naval vessels because of its strength, corrosion resistance and lightweight properties. China, the world's biggest producer and consumer of titanium dioxide, has expanded its production to capture over half the global market over the past decade, according to data from the U.S. Geological Survey. China wields significant pricing power, which has knock-on effects for Western miners, including on margins. Against this backdrop, Rio Tinto has been evaluating whether the titanium business still has a place in its portfolio. How to exit it could be one of Trott's first decisions, the three sources familiar with matter said. Rio Tinto declined to comment. Rio would not be the first to exit titanium. Bowing to investor pressure, DuPont in 2013 said it would spin off its own titanium dioxide business. In the company's portfolio, titanium falls under the Minerals business, headed by Sinead Kaufman. This division also includes borates, used in cleaning products, as well as the Iron Ore Company of Canada, diamonds, and the Jadar lithium project in Serbia. The Minerals division reported an underlying EBITDA of $1.1 billion in 2024, 24% lower than in 2023, the company's financial report shows. Iron and titanium operations in South Africa and Canada accounted for more than half. Trott, who takes over as the company's CEO on August 25, has headed the iron ore division since 2021. There is an acknowledgement at the company that internal costs, such as staffing, are excessive, sources have told Reuters, so cost-cutting is expected. "There's going to be a middle management clean out," said one of the sources, who was not authorised to speak publicly. Part of Trott's pitch and vision for Rio includes a focus on streamlining the structure of the company's core businesses iron ore, copper, lithium and aluminium, the sources said. Australia and possibly Canada's iron ore operations, and the upcoming Simandou project in Guinea are likely to be grouped together, as well as the recently acquired U.S. lithium company Arcadium and its other lithium projects and investments, they added. Rio is scheduled to release its half-year results on July 30. 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
Otago Daily Times
4 days ago
- Business
- Otago Daily Times
University unfazed by dwindling donations
The University of Otago is brushing off another dramatic drop-off in donations to its Foundation Trust, saying donors continue to seek other ways to contribute. The trust's annual report for 2024, released last week, records that the trust received $3.87 million in new donations for the year. That was down from $7.1m in 2023 and $12.3m in 2022. Otago University chief financial officer Brian Trott said there had not been a drop-off in donations, rather there had been a change in giving patterns. Donors were opting to support immediate and short-term projects managed directly through the university ledger and not endowments that would traditionally go to the trust, he said. "In 2024, total donations to the university amounted to $8.3m, with $3.87m donated to the Foundation Trust and $4.43m allocated to university-managed projects. "Overall donations to the university for 2024 were still healthy. The drop in donations to the foundation does not have any immediate effect on operations." The trust provides funding for research, teaching, scholarships and prizes. Dr Trott said the university's development and alumni relations office had active staff who were experienced in networking with alumni and developing "philanthropic and alumni engagement strategies" to support the university's priority projects. Last year, the university attributed 2023's $5m drop in donations to the trust compared with 2022 partially to the ongoing impact of Covid-19, the economic recession and the prevailing cost-of-living crisis but otherwise gave the same reasoning as Dr Trott for there being no real concern — people donating in other ways. In 2023 and 2024 a controversial rebrand, particularly a new logo, together with significant staff cuts led some donors to threaten pulling their donations or endowments. Asked whether rebranding had affected overall donations, Dr Trott said total "donations to the university itself were in line with expectations". Universities New Zealand chief executive Dr Chris Whelan said tertiary institutions — and indeed the whole country as a rule — did not have the philanthropic culture of universities in the United States, for instance. "In world terms, we're not talking big numbers for donations — although every university in New Zealand welcomes them when they arrive." Donations could "fluctuate" depending on what was going on with the university. Many donors were alumni who contributed widely to further a personal area of interest in study or research and therefore gave for scholarships or equipment or funded specific research, Dr Whelan said. During Covid-19, the university launched a wide-ranging campaign seeking donations or funding to help to cover electricity bills, accommodation costs, travel costs back to campus, essential groceries and toiletries for struggling students. During that period donations to the trust nearly doubled, from $6.8m in 2019 to $12.3m in 2022. Established in August 2002, the trust has a target of making a return on investment of 6.5% a year — it distributes about 4.5% of its returns a year. It made returns of 11.14% last year compared with returns of 9.37% in 2023. During the past year, the trust distributed $11.67m to the university, an increase of about $0.56m on the previous year.
Otago Daily Times
4 days ago
- Business
- Otago Daily Times
University unfazedby dwindling donations
The University of Otago is brushing off another dramatic drop-off in donations to its Foundation Trust, saying donors continue to seek other ways to contribute. The trust's annual report for 2024, released last week, records that the trust received $3.87 million in new donations for the year. That was down from $7.1m in 2023 and $12.3m in 2022. Otago University chief financial officer Brian Trott said there had not been a drop-off in donations, rather there had been a change in giving patterns. Donors were opting to support immediate and short-term projects managed directly through the university ledger and not endowments that would traditionally go to the trust, he said. "In 2024, total donations to the university amounted to $8.3m, with $3.87m donated to the Foundation Trust and $4.43m allocated to university-managed projects. "Overall donations to the university for 2024 were still healthy. The drop in donations to the foundation does not have any immediate effect on operations." The trust provides funding for research, teaching, scholarships and prizes. Dr Trott said the university's development and alumni relations office had active staff who were experienced in networking with alumni and developing "philanthropic and alumni engagement strategies" to support the university's priority projects. Last year, the university attributed 2023's $5m drop in donations to the trust compared with 2022 partially to the ongoing impact of Covid-19, the economic recession and the prevailing cost-of-living crisis but otherwise gave the same reasoning as Dr Trott for there being no real concern — people donating in other ways. In 2023 and 2024 a controversial rebrand, particularly a new logo, together with significant staff cuts led some donors to threaten pulling their donations or endowments. Asked whether rebranding had affected overall donations, Dr Trott said total "donations to the university itself were in line with expectations". Universities New Zealand chief executive Dr Chris Whelan said tertiary institutions — and indeed the whole country as a rule — did not have the philanthropic culture of universities in the United States, for instance. "In world terms, we're not talking big numbers for donations — although every university in New Zealand welcomes them when they arrive." Donations could "fluctuate" depending on what was going on with the university. Many donors were alumni who contributed widely to further a personal area of interest in study or research and therefore gave for scholarships or equipment or funded specific research, Dr Whelan said. During Covid-19, the university launched a wide-ranging campaign seeking donations or funding to help to cover electricity bills, accommodation costs, travel costs back to campus, essential groceries and toiletries for struggling students. During that period donations to the trust nearly doubled, from $6.8m in 2019 to $12.3m in 2022. Established in August 2002, the trust has a target of making a return on investment of 6.5% a year — it distributes about 4.5% of its returns a year. It made returns of 11.14% last year compared with returns of 9.37% in 2023. During the past year, the trust distributed $11.67m to the university, an increase of about $0.56m on the previous year.
News18
7 days ago
- Sport
- News18
Jonathan Trott On Final Day Of Third India vs England Test: 'It Was So Tense...'
Last Updated: Jonathan Trott humorously remarked that the gripping conclusion to the third Test between India and England at Lord's left him with no nails. England won by 22 runs, leading 2-1. Former England batter Jonathan Trott has humorously remarked that the gripping conclusion to the third Test between India and England at Lord's left him with no nails. On the final day, India needed 135 runs with six wickets in hand, having been reduced to 58/4 at the close of play on Sunday. Defending a target of 193, Jofra Archer (3-55) and Ben Stokes (3-48) each took three wickets, with solid support from Brydon Carse (2-30) and Chris Woakes (1-21), securing the win for the home side. England triumphed by 22 runs, taking a 2-1 lead in the five-Test series. 'Once again, a match decided by the finest of margins – 22 runs today. We saw Siraj being consoled. That's exactly what we want to see. We've seen hard-fought cricket over five days, and then handshakes all around. One team had to win, and this time it was England," Trott commented on JioHotstar. 'It was so tense – nail-biting stuff. I'm not sure I've got any nails left! It's a sad way for the game to end, but someone had to win. I think this is great for Tests, a bit of spice, a bit of edginess on the field," Trott said. 'As long as the teams get along off the field and there's no carry-over to the fourth Test, we're good. It's been played hard out there. I can't wait to see who comes out on top," Trott added. Archer initiated the attack on the final day, setting the tone early by dismissing Rishabh Pant in just the third over after play resumed. KL Rahul, who looked solid with a fluent 39 off 58 balls, was the next to fall, beaten by a sharp nip-backer from Ben Stokes. A flicker of resistance came from Ravindra Jadeja and Nitish Kumar Reddy, who began to form a promising partnership. However, just before lunch, Chris Woakes broke the stand, bringing England closer to victory. After the break, Jasprit Bumrah provided some support to Jadeja, but the fightback ended when he mishit a pull shot off Stokes, finding substitute fielder Sam Cook. Jadeja, the No. 1-ranked Test all-rounder, continued to show resilience, achieving his fourth successive fifty of the series. Nevertheless, it was not enough to halt England's momentum. The match concluded when Shoaib Bashir delivered a ball that glanced off Mohammed Siraj's bat, trickling onto the stumps and bowling India out for 170, sealing a memorable win and series lead for England. Praising Jadeja's determined unbeaten half-century, Trott acknowledged the all-rounder's exceptional performance in challenging conditions under pressure. 'Hindsight is a beautiful thing. I think Jadeja played incredibly well. I don't see the point in overanalysing him. He manoeuvred himself and the team excellently. He's battled, left well, and had a bit of luck. The ball was spinning away, and yes, there was temptation to attack Bashir. But had he slogged and gotten out, we'd be saying he threw it away. I thought he played exceptionally. The other batters will probably reflect and ask themselves – Why couldn't I have done what Jadeja did to give us a chance?" With IANS Inputs view comments First Published: July 15, 2025, 14:16 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Scottish Sun
16-07-2025
- Scottish Sun
Real life 'Fagin' jailed for using kids to rob almost £1,000 of Lego
Trott went on a thieving spree throughout the South West PICK-A-POCKET Real life 'Fagin' jailed for using kids to rob almost £1,000 of Lego Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A "PRESENT-day Fagin' who used children to steal from shops across the south-west has been jailed. Bradley Trott, 32, travelled from town to town robbing thousands of pounds worth of toys and food items. Sign up for Scottish Sun newsletter Sign up 4 The city of Bath in Somerset which Trott targeted Credit: Alamy 4 Trott sitting outside Bristol magistrates court where he was jailed for theft 4 Fagin from the movie Oliver! who sent out children to steal for him Credit: Alamy He got one child to help him pick up Lego boxes worth £922.50 and sometimes took a group of kids with him to steal meat, cheese and other items. You have every appearance of being a present-day Fagin. A judge likened him to the character Fagin from Charles Dickens' classic novel Oliver Twist who sent out children to pickpocket for him. District Judge Lynne Matthews said: 'You have every appearance of being a present-day Fagin. "You have been taking children into stores and getting them to help you steal goods to fund your habit. 'My view is that you pose a risk to children and it's very likely you will commit further offences.' Bristol magistrates heard he travelled around Bristol, Bath, Radstock and Glastonbury in Somerset on a thieving spree during January of this year. Trott, of Bristol, admitted five charges of theft and one of attempted theft – and all bar one offence involved at least one male child, who helped stash the stolen goods. He was jailed for 26 weeks. He also admitted driving a VW Golf high on cocaine and not having insurance. He is disqualified from driving for 21 months, which includes his prison sentence. The court heard he had a "decent family background" and started using substances at the age of 17. He was previously sentenced on January 29 for theft and given a community order, which tried to address his drug issues. DJ Matthews said the community order was not working and that children were "actively used to facilitate" the offences was an aggravating factor – so he was given his first prison sentence. Trott was also ordered to pay a statutory surcharge of £187 on his release.
