Glencore Xstrata chairman ousted in surprise coup
Glencore Xstrata Chairman John Bond surprised investors on Thursday by announcing he had been voted out of the top job at the miner and trader at the group's first annual shareholders' meeting. Bond gave no explanation, but as the meeting began in Zug, Switzerland, he handed responsibility for chairing the gathering to former BP boss Tony Hayward, the company's senior independent director. The results of the shareholder vote are due to be published by Glencore shortly. A veteran of London's financial sector who was formerly chairman of miner Xstrata, Bond agreed last November to stand down once Glencore and Xstrata merged, quitting after coming under fire over a 140 million pound ($223 million) “golden handcuffs” package for key Xstrata managers.
Iran says ready for nuke talks with world powers
Iran is prepared to pursue nuclear diplomacy with world powers before or after next month's presidential election in the Islamic Republic, its chief negotiator said on Thursday. Saeed Jalili, who is also a candidate in the presidential race, was speaking after talks on the nuclear dispute with European Union foreign policy chief Catherine Ashton. “We are ready to continue our talks with the (six powers) whenever they are ready, before or after the presidential election in Iran... Talks will take place soon,” Jalili told a news conference, without giving a date. Jalili's meeting with Ashton, who oversees talks with Iran on behalf of the US, Russia, China, France, Britain and Germany, followed a failed round of big power diplomacy in April, in the Kazakh city of Almaty.
Washington to release pot industry draft rules
The state of Washington is releasing preliminary draft rules on Thursday afternoon, possibly covering an array of topics ranging from how pot should be grown, labelled and tested for quality assurance to what types of security should be required at state-licensed pot businesses. But some of the most interesting questions — such as how much marijuana will be grown and how many retail stores will be licensed — aren't likely to be answered yet. The state's official pot consultant is still working