James Fontanella-Khan Spot news

- Index lets investors tap Glencore’s views
The index will track about 20 raw materials (FT)

- BHP and Rio limber up to clear the final hurdles
News of joint venture overshadowed by Rio’s failed Chinalco deal (FT)

- Concerns mount over sharp rise in food costs
The world economy is turning its attention to the cupboard (FT)

- Veolia considers spin-off of unit
French group declared its interest in merging its transport subsidiary (FT)

- US Senate panel approves more offshore drilling
Bid to open more of the eastern Gulf of Mexico (Bloomberg)

- End of Kurdistan deadlock helps prompt Genel Heritage merger
Region could contain 40bn barrels of oil, according to estimates (FT)

- Bowleven raises $114m in share placing
Move is the latest sign of confidence returning to the industry (FT)

- Renewable energy spending delayed, Quanta Ceo says
Companies are waiting to see what government funds are available (Bloomberg)

- Korea Hydro to raise up to $1bn in bonds
State-owned group plans sale of 5-year dollar bonds (Reuters)

- Lex: Oz Minerals
Australian miner is a desperately indebted (FT)

- KKR invests in US natural gas company
Source says investment was about $350m (Reuters)