TS was intrigued to note the fanfare surrounding Glencore’s listing on the London Stock Exchange.
The mining/commodities trader has received some negative press in recent weeks around its tax affairs. However, TS was more interested in a gushing analyst’s view of the business.
City AM’s analysis piece today touches on criticism Glencore has received over the opacity of its trading operation. But Numis Securities analyst Andy Davidson responded that the moment it’s known how that operation works, Glencore “will lose its edge”.
Heaven forbid Glencore enters into any trading difficulties, but if it were to do so then TS hopes analysts don’t suddenly decide Glencore, or its auditors, should have done more to explain how their business works and the risks it takes.
The UK’s decision to leave the EU has raised questions about whether the FRC's regulatory framework should change in the future
Following international accounting standards for leasing one battle too many for the MOD
Jane Ellison to serve as 'tax minister' following ministerial responsibilities for public health. David Gauke become chief secretary to the Treasury
Head of editorial Kevin Reed discusses the accountants in the new cabinet; the FRC's report into audit market concentration; and the Top 40 International Networks Survey 2016