Glencore execs used private jets to fly cash bribes to Africa, court hears November 2, 2022 Glencore executives used private jets to fly millions of dollars in bribes to officials in Africa to boost their oil trading activities, a London Court heard today. Traders on Glencore’s London-based West Africa trading desk organised to have bribes, which were withdrawn from the commodity trader’s offices in Switzerland, flown to officials in Cameroon and [...]
London’s FTSE 100 drops as miners dig themselves into a hole November 2, 2022 London’s FTSE 100 closed the day lower today after it was pulled by investors ditching UK mining giants. The capital’s premier index fell 0.58 per cent to 7,144.14 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.12 per cent to 18,217.75 points. Mining [...]
Britishvolt ‘actively working’ on stability amid reports of imminent collapse October 31, 2022 Electric vehicle battery startup Britishvolt is on the verge of collapse, after reportedly running its cash pile dry.
Glencore faces probe over alleged payment to Zambian political party October 23, 2022 Zambia’s Anti-Corruption Commission (ACC) has launched an investigation in connection with a matter relating to an alleged $3m (£2.65m) payment made by commodities giant Glencore to a political party in the southern African country. In a statement, the Zambian corruption watchdog said the investigation is centred on the circumstances under which Glencore allegedly paid the [...]
Glencore shareholders set for payday as profits jump to $18.9bn August 4, 2022 Mining and commodities giant Glencore announced it would put $4.5bn back in shareholders pockets today after it reported record half-yearly profits of $18.9bn on the back of soaring metal prices and market volatility.
Glencore lowers copper production guidance due to problems at Congo mine July 29, 2022 Commodities trader Glencore today said it is set to produce less copper this year than previously forecast due to technical issues at its Katanga mine in the Congo. The Anglo-Swiss multinational lowered its copper production guidance figures by 4.5 per cent, from 1,110 kt to 1,060 kt due to the ongoing geotechnical constraints related to [...]
Top UK firms set to dish out £85bn in dividends this year July 12, 2022 Shareholders in Britain's top firms are set to pocket as much as £85bn in dividends this year as boardrooms pay out excess cash to investors, new research has revealed.
Glencore pleads guilty to seven counts of bribery June 21, 2022 Glencore Energy today pleaded guilty on seven charges of bribery and failing to prevent bribery in relation to a series of African oil deals. The Anglo-Swiss firm pleaded guilty on all seven counts put forward to it at Southwark Crown Court, after charges were brought against the company by the UK’s Serious Fraud Office (SFO). [...]
Glencore trading profits set to soar amid volatile commodity prices June 17, 2022 Glencore is on course to post record profits from its trading business in the first half of the year as it continues to feel the lift of volatile commodity prices.
Glencore pays $1bn settlement to US authorities after admitting bribery in UK court May 24, 2022 Commodity trader Glencore has agreed to pay more than $1bn to US and Brazilian authorities to settle corruption investigations, after indicating it will plea guilty to bribery charges in the UK. Glencore said it will pay a combined sum of $1.06bn to the US Department of Justice (DoJ) and Commodity Futures Trading Commission (CFTC), and [...]