George Cheveley News

Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle, head of coal assets at the mining and trading group, will become the new CEO.Glasenberg's departure will mark a shift to a new, younger leadership for the business, which, along with other mining companies, has faced increasing pressure from investors to cut carbon emissions.Glasenberg, 63, has been chief executive since 2002 and investors have been expecting a succession plan after several senior members…

Commodity funds bounced in the first quarter from a 2013 loss, with the top performers in the Lipper Global Commodity group racking up double-digit returns after rallies in agriculture, natural gas and nickel. Supply disruptions provided opportunities across the asset class, but fund managers said only a few of these bullish fundamentals would persist into the second quarter and that some commodities are now over-valued. The average actively managed fund in the Lipper Global Commodity sector gained 4 percent in the first quarter, compared with a loss of 9.98 percent in 2013. "It got off to a strong start this year. Commodities outperformed equities for the first time in a while…