Jan 29: Xstrata launches cash call

Swiss mining group Xstrata announced a heavily discounted two-for-one rights issue to raise £4.1bn ($5.9bn) on Thursday and also said pre-tax profits had fallen 36 per cent year-on-year in 2008 to $5.17bn. Neil Hume tells Daniel Garrahan that the side deal with Glencore looks odd and could provoke a corporate governance outcry.