Friday 25 September 2015

Top Tweets Today: 25/09/2015

It seems as if Glencore CEO Ivan Glasenberg is on a mission to return the company to profitability as it struggles with a heavy debt ladened balance sheet. The company who has successfully concluded a right issues to raise $2.5 Billion announced today that it was in talks banks to help it sell off it's agriculture business.

Many are calling the move an urgent action needed to be taken as debt repayments gobbles up shareholders profit which is as a result of the commodities slump. Coasting on the backing of this news flow is other major mining houses such as BHP Billiton, Anglo American and Rio Tinto who have all had their own issues to deal with.
Chinese President Xi Jinping met up with his US counterpart Barack Obama at the White House in a meeting that will be watched by billions around the globe as this represents the world's largest economies.

There'll be a range of issues on the table namely the current turmoil being witnessed in the Chinese financial markets which is bound to be a hot topic of conversation.

I think this is a bold step by the US who want to court the Chinese rather than seek them out as their competitors as they ascend the ranks of economic hierarchy, currently second behind the US but catching up very fast with no doubt that in a few decades from now will probably be the world's biggest economy. The US needs to strategically place itself with a good footing when it comes to China so that it isn't caught on the wrong foot when they eventually take over.  
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