Rio Tinto, the $160 billion global mining giant, has successfully resisted an activist investor's push to review its dual-listed structure, with shareholders overwhelmingly voting against the proposal. The London-based hedge fund Palliser Capital had sought to unify the company's listings under a single Australian entity, arguing that the current structure is outdated and could unlock significant value for shareholders. However, less than 20% of the votes cast at the annual general meetings supported the review, falling short of the threshold required under UK corporate governance rules to mandate further consultation.

The outcome represents a significant victory for Rio Tinto's board, which had strongly opposed the proposal, citing potential tax costs in the mid-single digit billions of US dollars and asserting that unification is not in the best interests of shareholders or the company as a whole. The board's stance was supported by a wide consultation with shareholders, who ultimately agreed that the dual-listed structure should remain in place. This decision underscores the challenges activist investors face when attempting to sway large, established corporations with complex global operations.

Palliser Capital's campaign had drawn parallels with BHP's decision to move its primary listing to Sydney in 2022, following pressure from activist investors. However, Rio Tinto's shareholders, particularly those holding UK-listed stock which comprises about 77% of the investor base, showed little appetite for change. The Australian-listed shares, trading at a premium of about 25%, reflect the tax advantages available to Australian shareholders, a factor that may have influenced the voting outcome.

The rejection of Palliser's proposal also highlights the broader debate about the future of London's stock market, which has seen several high-profile companies consider or execute moves away from the UK. Despite these challenges, Rio Tinto's decision to maintain its dual-listed structure signals confidence in the current setup, at least for the foreseeable future. The company's ability to fend off the activist campaign may serve as a case study for other corporations facing similar pressures, demonstrating the importance of board-shareholder alignment in corporate governance decisions.

Police in Newry are investigating a violent altercation that occurred outside the Buttercrane Shopping Centre on Francis Street on Saturday evening. The incident, which involved a group of young males, took place at approximately 5:40 pm on October 18, prompting emergency services to respond to the scene.

Three teenagers were arrested in connection with the disturbance, including two 17-year-olds and one 16-year-old. Law enforcement officials confirmed the arrests were made on suspicion of multiple offenses, including attempted grievous bodily harm with intent, assault occasioning actual bodily harm, and possession of an offensive weapon.

Two of the detained males, aged 16 and 17, have been released on bail pending further police inquiries, while the other 17-year-old was released unconditionally. The Police Service of Northern Ireland continues to investigate the circumstances surrounding the altercation that began at the shopping center and continued onto the adjacent street.

Authorities are particularly concerned about a male youth believed to have been assaulted during the incident who left the scene before officers arrived. Inspector Ritchie stated that police have concerns for the individual's wellbeing and are urging him to come forward. Witnesses or anyone with dash-cam or CCTV footage are asked to contact Ardmore police station quoting reference number 1120 of 18/10/25.