Sunday newspaper round-up: Rio-Glencore merger, Iran protests, Greenland...

11th Jan 2026 09:26

(Sharecast News) - Rio Tinto has been urged not to overpay for Glencore, according to the Sunday Times, after it emerged that the two companies are discussing a possible merger to create the world's largest mining group. The paper cited Tal Lomnitzer, portfolio manager at Janus Henderson, which holds a £500m stake in Rio, who said he didn't see a need for Rio to pursue a deal right now, "unless the price is particularly compelling".

The potential combination of some of all of Rio and Glencore's businesses could include an all-share merger, the companies confirmed on Thursday. However, it is thought that some Glencore shareholders are wanting a premium of at least 30%, The Sunday Times reported, equating to an offer price equivalent of 537p, up from the 452.65p level on Friday.

Donald Trump has said that America is "ready to help" Iranian protestors as US government officials consider strikes on "multiple" military targets in the country, according to the Sunday Telegraph. The paper cited former Pentagon officials who said the US president could sign off secret operations to "destabilise" Tehran or authorise Israel to launch its own attacks.

Meanwhile, the Independent reported that Donald Trump's aggression towards Greenland could irrevocably damage America's relationship with Denmark so much that the latter begins to restrict US access to the semi-autonomous territory.

The paper cited Frank Rose, who negotiated a defence deal with Denmark and Greenland under the Obama administration, as saying that Trump's threats could mean it is harder to obtain consent from Denmark if the US wants to increase troop numbers across the region like it had done until the end of the Cold War.

Charlie Nunn, the chief executive of Lloyds Banking Group, is the latest boss in the sector that could pocket a huge jump in bonuses with an annual pay packet of over £13m, according to The Guardian. The paper said Lloyds' remuneration committee has started planning a new three-year exec pay policy following the government's decision to lift the cap on banker bonuses.

Barclays, HSBC and NatWest have already announced that bosses will be handed pay increases of 43-45% if they hit certain targets this year. Lloyds is thought to be considering a similar 45% hike in maximum pay for Nunn, which shareholders will vote on in the spring, The Guardian reported.

According to the Sunday Times, industrial leaders and backbench Labour MPs have said that Rachel Reeves' expected bailout for the pubs sector should be expanded to other sectors. Senior ministers have warned that the package should include others in the retail and hospitality industries following recent research from UK Hospitality which showed that over 2,000 firms face closure in 2026 amid a surge in business rates.

Elon Musk has said that the UK government is trying to suppress free speech after ministers warned that X could be banned following revelations that its AI tool Grok is being used to make indecent images of underage people. The comments came after technology secretary Liz Kendall said action from Ofcom was expected within "days, not weeks" as it requests an urgent response from the social platform.