Swiss commodities giant Glencore is being investigated by the British Serious Fraud Office (SFO), it emerged on Thursday. The company would give no further details, but it already faces questions about its dealings in several countries.
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The SFO said it “confirms it is investigating suspicions of bribery in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons,” but would add no other detail.
The commodities trader has come under increasing pressure over suspicions of engaging in questionable business practices. Last year, it was subpoenaed by the United States Department of Justice (DoJ) in relation to its activities in Nigeria, the Democratic Republic of Congo (DRC) and Venezuela.
This followed a criminal complaint submitted in Switzerland by the NGO Public Eye against the company’s activities in DRC, including suspect links with billionaire Israeli businessman Dan Gertler.
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The Swiss Broadcasting Corporation (SBC), Swissinfo's parent company, must restructure due to financial pressures and to stay competitive in the fast-moving media environment.
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UBS launches buyback scheme for up to $2 billion in shares
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Swiss commodity giant Glencore is often under fire for its human rights record. Glencore’s sustainability chief explains its due diligence approach.
Swiss commodities trader under scrutiny over South Sudan payments
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In December 2018, the United States placed retired Israeli Defence Forces Major General Israel Ziv under sanctions over the sales of weapons and ammunition to the government and opposition in South Sudan. “Ziv has been paid through the oil industry and has had close collaboration with a major multi-national oil firm,” the U.S. Department of Treasury noted in its decision,…
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