Glencore Xstrata $7.66 billion charge hits profit

Associated Press
Glencore Xstrata $7.66 billion charge hits profit

FILE - In this April 18, 2011 file photo shows the headquarters of Glencore in Baar, Switzerland. Commodities trader Glencore Xstrata Plc has reported a 39 percent drop in half-year profits as it booked a US dollar 7.6 billion write-down of assets following the merger of Glencore and Xstrata this year. The Swiss-based company, which supplies raw materials around the world and operates mines, plants and warehouses, said its net income slid to US dollar 2.04 billion from US dollar 3.36 billion from a year earlier. (AP Photo/Keystone, Martin Ruetschi)

View Comments (0)