Australian shares poised for modest opening gains. Social media companies drag on S&P 500 and Nasdaq. Follow updates here.
Glencore Plc units agreed to plead guilty to charges including bribery and price manipulation as part of a sweeping settlement with authorities in the US, UK and Brazil to settle long-running corruption probes that have hung over the commodities giant for years.
The settlements will go a long way toward removing a question mark that has overshadowed the company’s business for years, although it also still faces investigations in Switzerland and the Netherlands. Glencore shares earlier jumped as much as 5.3 per cent before paring gains to close 1.3 per cent higher in London. The commodity trader and miner had indicated three months ago it expected to resolve the UK, US and Brazilian investigations this year.
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