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had sought to unify the company's listings under a single Australian entity, arguing that the current structure is outdated and could unlock significant value for shareholders.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.

London's Metropolitan Police has reversed its longstanding position on grooming gangs in the capital, acknowledging for the first time that it has multiple active investigations into group-based child sexual exploitation. The shift came after an investigation by MyLondon and The Daily Express challenged official statements from both police leadership and Mayor Sadiq Khan, who had consistently maintained there were "no reports" or "no indication" of Rochdale or Rotherham-style rape gangs operating in London.

The investigation uncovered evidence from four separate His Majesty's Inspectorate of Constabulary and Fire & Rescue Services reports spanning 2016 to 2025 that documented at least six potential victims of grooming gang abuse. These case studies, which the Mayor of London personally responded to according to public statements, described children as young as 13 being exploited by groups of predatory men. The reports detailed how girls were plied with drugs and alcohol, raped in hotels by multiple perpetrators, and subjected to life-threatening situations.

Metropolitan Police Commissioner Sir Mark Rowley revealed to Assembly Members at City Hall that the force now acknowledges a "steady flow" of live multi-offender child sexual exploitation investigations and a "very significant" number of historic cases requiring reinvestigation. The commissioner estimated these reviews would cost "millions of pounds a year, for several years" to properly investigate, contradicting previous assertions that the force had "not seen" such cases in London.

Political figures including Reform UK MP Lee Anderson and Shadow Home Secretary Chris Philp have criticized the mayor's handling of the situation, with Anderson stating there is "real, credible evidence that grooming gangs exist in London" and Philp alleging that Khan is "facilitating a cover-up." A spokesman for the mayor maintained that Khan has "always been clear that the safety of Londoners is his top priority" and remains "committed to doing all he can to protect children in London."