Xstrata, the UK-listed mining group, is planning an A$7.4bn (€4.4bn) hostile bid for Australian rival WMC Resources after WMC's board spurned Xstrata's friendly merger offer last month.

Xstrata will offer WMC Resources' shareholders A$6.35 (€3.80) per share, the same offer which WMC's board rejected on October 28th. At the time WMC said it had the support of its major shareholders.

Michael Herman

Xstrata

Barclays

JP Morgan

Deutsche Bank

Norilsk Nickel

Royal Bank of Scotland

BHP Billiton

Citigroup

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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Gold prices are climbing as the threat of a U.S. economic slowdown becomes increasingly real.

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Big stock awards have grown much bigger for the chief executives of Palantir and Broadcom, driven by dramatic market gains and, in some cases, complex multipliers.

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The appointment rewards the executive who led the bank back from a scandal involving the creation of millions of fake customer accounts.

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Xstrata turns hostile on WMC merger bid

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