Glencore offers 30-year rail deal to entice infrastructure investors

Glencore has proposed a 30-year guarantee on its up-for-sale Hunter Valley coal haulage business in an effort to draw infrastructure funds into the upcoming auction, according to the Australian Financial Review.

The paper said Glencore and adviser RBC Capital Markets have proposed selling the network with an initial 15-year contract, with exclusive rights to extend for another 15-years.

The contract would see Glencore commit to use Glencore Train (GTrain) to get coal from its Hunter Valley mines to the Port of Newcastle, underwriting revenue for the new owner.

Spike in global temperature fuels climate change fears

The world has lurched closer to the 2-degree global warming limit in recent months, prompting calls by scientists for clearer policies aimed at making Australia and other rich nations carbon-emissions neutral before 2050, according to the Sydney Morning Herald.

February's spike in global temperatures lifted temperatures to 1.21 degrees above the 20th century average, and were the biggest departure from the norm in 137 years of records. Temperatures over land were 2.3 degrees warmer than average, according to the US National Oceanic and Atmospheric Administration (NOAA).

Goldman retains top ranking for commodities revenue

Goldman Sachs Group remained the largest bank by commodities revenue in 2015 in what was one of the worst years for investment firms in at least a decade, according to the Sydney Morning Herald.

The New York-based company made the most money from raw materials among the top 12 investment banks for a second consecutive year, according to a report published on Thursday by Coalition, a London-based business analytics firm. JPMorgan Chase and Citigroup were joint second.