![]() ![]() “Now Disney plans to do every- thing we wanted them to do.” Disney and Peltz had been set to go head-to-head at the company’s annual shareholder meeting on April 3 after it declined to nominate him as a director in January and appointed Nike veteran Mark Parke. He added that the changes sought by his hedge fund Trian Partners had been addressed by the restructuring plan and the entertain- ment giant’s intention to reinstate the dividend suspended during the pan- demic. “The proxy fight is over,” Peltz said yesterday morning. Disney shares are up 18 per cent since Peltz announced his intention to join the board less than a month ago, a rise likely to generate a substantial profit on his stake of around $900mn. The end of the activist investors’ push removes a distraction for chief execu- tive Bob Iger, who is seeking to steer the company’s lossmaking streaming serv- ices towards profitability. Nelson Peltz has called off his fight against Walt Disney a day after the com- pany unveiled a restructuring plan with 7,000 job cuts, ending one of the biggest corporate battles in recent years. TMT, Gupta and UD Trading did not respond to requests for comment. Socrates Economou, head of nickel and cobalt trading, is leaving the grou p, accor ding to peopl e famili ar with the matter. Trafigura said there was no evidence its traders were complicit in the alleged fraud. The nickel market spiralled out of control last year following Russia’ s inva- sion of Ukraine, prompting the London Metal Exchange to cancel trades. Gupta’s companies and Trafigura traded about 25,000 tonnes of nickel but the cargoes were found to have metal of far lower value, people familiar with the matter said. Nickel is the most highly valued base metal, rising 6 per cent yesterday to more than $29,000 per tonne compared with $9,000 for copper. TMT Metals Holding lists Gupta, an Indian national and United Arab Emirates resident, as a director accord- ing to UK Companies House records. UD Trading Group’s website says its is part of UD group, wh ich operat es i n me tal trading, wind power generation and mining and has revenues in excess of $4.5bn and a presence in nine countries. TMT Metals describes itself as a non- ferrous metals, minor metals and fer- roalloys trading merchant. An impairment charge of $577mn will be recorded in the first half of 2023 related to the alleged fraud, which Trafigura said involved “misrepresenta- tion and presentation of a variety of false documentation” by the companies. Privately held Trafigura, one of the world’s biggest commodity traders, has close relationships with dozens of banks that provide billions of dollars of financ- ing to underpin its daily operations. It said the majority of shipments were in transit and “awaiting further inspection”. It added that a small proportion of containers purchased from these com- panies it has inspected since December did not contain nickel. The Referring Customer’s unique referral code can be used unlimited times.The commodity trader said yesterday that it had recently discovered the alleged fraud and had begun legal action against a group of companies “con- nected to and apparently controlled” by Dubai-based metals trader Prateek Gupta, including TMT Metals and com- panies owned by UD Trading Group. Each customer must be active, and their account must be in good standing on a postpaid residential plan throughout the referral process. This offer is valid only in conjunction with applicable plans available directly on our website or by phone. ![]() ![]() The $100 electric bill credit is non-transferable. Any remaining bill credit will be carried forward onto the next billing statement. The $100 electric bill credit has no cash value and can only be applied as a credit on an active customer’s Just Energy bill. ![]() Just Energy will not be responsible for issuing bill credits on enrollments received without the Referral Code. After Just Energy successfully enrolls a new customer (Referee) in a residential plan with a 12-month term or longer using the unique Referral Code of the referring customer, and the Referee pays their first full month Just Energy electricity bill, the Referring customer and Referee will each receive a one-time bill credit on their next billing statement. Refer-A-friend program is valid for Texas customers only. ![]()
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