Glencore sets aside $1.5bn as graft probes seen closing

Glencore Plc said it expects long-running corruption probes by US and UK authorities to be resolved this year as the world’s biggest commodity trader reported its highest-ever profit and almost $4 billion in shareholder returns. Glencore said it was setting aside $1.5 billion to resolve investigations by the US Department of Justice, the UK Serious Fraud Office and Brazilian authorities for possible money laundering and corruption.

4 billion in dividends and announced a new $550 million share buyback. Its trading unit, which has benefited from the wild swings in commodity prices, delivered profits of $3.7 billion. The full-year results are the first under new CEO Gary Nagle, who last year succeeded long-time boss Glasenberg. He’s so far maintained his predecessor’s strategy of simplifying the business and paying down debt, which has fallen to $6 billion, well below the bottom end of its target range.

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Mining giant Glencore sets aside $1.5 bn for graft probesGlencore disclosed in 2018 that the US Justice Department had launched a corruption investigation linked to the group's business in Nigeria, Venezuela and the Democratic Republic of Congo. I know we all probably must have heard about Bitcoin but don't know how it works, I tried it in a week ago by a woman who recommended me to with AmelieBtc1 on Twitter she guides me through and i made a return of $10500 after a week of trading, connect with her AmelieBtc1
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