The probe comes after the London-listed company was subpoenaed last year by the U.S. Justice department for documents relating to its dealings in Nigeria, the Democratic Republic of Congo and Venezuela since 2007.
The company said it believes the CFTC’s investigations “have a similar scope in terms of subject matter” to the DOJ probe, which became public last July. CFTC spokeswoman Erica Elliott Richardson didn’t return a request for comment on the probe. This is “clearly an unhelpful headline for Glencore, which reminds the market of the outstanding DOJ investigation,” said Macquarie Group Ltd. analyst Grant Sporre. “However I don’t think this will impact the size of the fine or sanction due to agreements on not duplicating fines.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Musk Makes Self-Driving Technology Tesla’s Costly New CallingTesla Inc.’s calling used to be bringing affordable electric cars to the masses. Elon Musk is now ripping up the script, vowing to pair self-driving technology with a sharing service that will make it crazy for consumers to buy other cars.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: China, South Africa and the middle-income trapChina and South Africa seem so distant and so different. Chinese economic growth has been fabulous; over the past decade, South Africa’s has been miserable. China is enormous; SA is small… and so on. But in one singular respect, China and South Africa are similar — they may be both caught in the middle-income trap. If there is such a thing.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Banks Entice South African Millennials With Rap, Free FoodFrom free burgers and ride-hailing services to hip-hop concerts and discounted gasoline: South African banks are going all out to win customers as competition hots up.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK ANALYSIS: Central banks’ musical chairs put independence up for grabsA changing of the guards at central banks around the world at a time when the value of both political and operational central bank independence is up for debate could yield some surprises. History shows these can be pretty dramatic as tensions run high between presidents and bank governors.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Cosatu Urges Mboweni to Take His Own Advice and RetireSouth Africa’s largest labor federation wants Finance Minister Tito Mboweni to practise what he preaches and retire. That may not be because he’s too old, but rather that they just don’t like him. They never liked him ,when he was a minister of labor they used to have lot of issues
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Wednesday April 24: Five Things You Need to Know to Start Your DayTwitter helps stocks fly to a record high, Netflix returns to the junk bond market and Islamic State claims responsibility for the deadly attacks in Sri Lanka. Here are some of this morning’s key stories.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Competition watchdog names and shames MTN, Vodacom for high data pricesThe Competition Commission’s provisional report on the cost of mobile data in South Africa has confirmed what many people have long suspected.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Kraft Heinz’s Problems Run Deeper Than Its CEOKraft Heinz Co.’s problems stem not from a single manager but rather an ethos brought to the company by its private equity owner, 3G Capital, and championed by billionaire Warren Buffett. And so it remains to be seen whether replacing the packaged-food giant’s CEO is enough to right the ship, writes Tara Lachapelle for Bloomberg Opinion
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Impact investing could bridge the socialist/capitalist divideA conference this week examined one of the trickiest issues of our day: why is it proving so difficult to mobilise retirement funds to aid social upliftment? Meanwhile, inequality is rising and threatening to become a political time bomb, environmental crises are increasing, tax revolts are looming, and levels of violent social unrest could become unmanageable. Is there a solution? Cue impact investing.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Thursday April 25: Five Things You Need to Know to Start Your DayFacebook and Microsoft deliver solid results, Goldman may have to plead guilty over 1MDB, and Boeing’s chief insists the 737 Max will be one of the safest airplanes ever to fly. Here are some of this morning’s key stories.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Tanzania denies blocking release of scathing IMF reportTanzania on Tuesday denied blocking the publication of a critical International Monetary Fund report that accuses President John Magufuli's government of undermining economic growth with 'unpredictable and interventionist' policies.
Source: dailymaverick - 🏆 3. / 84 Read more »