Glencore Energy Reaches £280.97 Mln Settlement To Resolve Probe By UK Serious Fraud Office

RTTNews | 923天前
Glencore Energy Reaches £280.97 Mln Settlement To Resolve Probe By UK Serious Fraud Office

(RTTNews) - Glencore Energy UK ltd., the U.K. subsidiary of Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L), announced Thursday it has fully resolved investigation by UK authorities and will pay financial penalty and costs of £280,965,092.95 in respect of the previously announced resolution of the UK Serious Fraud Office (SFO) investigation.

The penalty was determined by the Southwark Crown Court, where the company previously admitted to five counts of bribery and two counts of failure to prevent bribery under the UK Bribery Act 2010.

The settlement is part of previously announced coordinated resolutions of investigations by authorities in the US, UK and Brazil into past activities in certain Group businesses related to bribery, and separate US investigations related to market manipulation.

The aggregate payments to resolve the UK, US and Brazilian investigations do not differ materially from the $1.5 billion provision recorded in Glencore's fiscal 2021 results.

Glencore noted that it continues to cooperate with a previously disclosed and ongoing investigation by the Office of the Attorney General of Switzerland (OAG) into Glencore International AG for failure to have the organisational measures in place to prevent alleged corruption, and an investigation of similar scope by the Dutch Public Prosecution Service.

read more
Teck Resources Rejects Unsolicited Acquisition Offer From Glencore

Teck Resources Rejects Unsolicited Acquisition Offer From Glencore

Teck Resources Ltd. (TECK, TECK.A.TO) announced Monday that the Board of Directors of Teck has received and unanimously rejected an unsolicited and opportunistic acquisition proposal from Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L), which would see that company acquire Teck and subsequently separate to create two businesses, which would expose Teck shareholders to thermal coal and oil trading.
RTTNews | 772天前
Australia Unemployment Data Due On Thursday

Australia Unemployment Data Due On Thursday

Australia will on Thursday release April numbers for unemployment, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to hold steady at 4.1 percent, with the addition of 20,900 jobs following the increase of 32,200 jobs in March.
RTTNews | 27分鐘前
European Markets Close With Mild Losses

European Markets Close With Mild Losses

The major European stock markets finished moderately to the downside in cautious trade on Wednesday as benign U.S. inflation data prompted traders to pare back Fed rate cut bets for this year.
RTTNews | 2小時4分鐘前
Swiss Franc Weakens Against Majors

Swiss Franc Weakens Against Majors

The Swiss franc fell against its major counterparts in the New York session on Wednesday. The franc edged down to 1.1182 against the pound and 0.8436 against the greenback, from an early high of 1.1117 and a 5-day high of 0.8324, respectively.
RTTNews | 2小時25分鐘前
E.ON Confirms Outlook After Higher Q1 Adj. Earnings

E.ON Confirms Outlook After Higher Q1 Adj. Earnings

German utility E.ON SE reported Wednesday a significant increase in its first-quarter adjusted earnings and Group EBITDA with growth in all three core segments. Further, the firm affirmed its guidance for 2025 and its outlook through 2028. On the XETRA in Germany, E.ON shares were gaining around 1.36 percent.
RTTNews | 8小時50分鐘前
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the European session on Wednesday.
RTTNews | 11小時14分鐘前
FTSE 100 Flat As Stocks Move In Tight Range

FTSE 100 Flat As Stocks Move In Tight Range

U.K. stocks are mostly subdued in lackluster trade on Wednesday as investors react to a mixed batch of earnings announcements, and await more economic data from the U.S., and clarity about Trump administration's stance on tariffs with regard to European countries.
RTTNews | 11小時49分鐘前