- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
- Trump returns to site of failed assassination
- Careless Leverkusen held to Bundesliga draw
- O'Brien's 'superstar' Kyprios posts landmark win on Arc weekend
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
- Thousands march in London in support of Palestinians, 1 year after Oct 7
- Israel readying response to Iran missile attack
- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
- 'Imperfect' PSG fighting on all fronts - Luis Enrique
- Struggling Pakistan look to thwart adaptable England
- Child 'trampled to death' in asylum seekers' Channel crossing: minister
- Gauff fights back to set up Beijing final against Muchova
- Guardiola claims Premier League won't delay season for Man City
- Israel to mark October 7 attack as Gaza war spreads
- Gauff fights back to reach China Open final
- Recovering Stokes ruled out of first Pakistan Test
- Hezbollah battles troops on border as Israel pounds Lebanon
- Alcaraz, Sinner breeze into third round of Shanghai Masters
- Bagnaia wins Japan MotoGP sprint to cut Martin's lead
- Alcaraz breezes into third round of Shanghai Masters
- Gaza cultural heritage brought to light in Geneva
- 'Bullet for democracy': Trump returns to site of rally shooting
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
Mining giant Glencore sets aside $1.5 bn for graft probes
Mining and commodities trading giant Glencore said Tuesday it set aside $1.5 billion as it expects to resolve corruption investigations in the United States, Britain and Brazil this year.
The Switzerland-based company made the announcement in a company results statement showing that it returned to profit last year, pulled up by higher commodity prices after a loss when the Covid pandemic emerged in 2020.
Glencore disclosed in 2018 that the US Justice Department had launched a corruption investigation linked to the group's business in Nigeria, Venezuela and the Democratic Republic of Congo.
A year later, the UK's Serious Fraud Office said it was investigating suspicions of bribery by the Glencore group of companies and staff.
Brazil also opened a probe in 2018 into Glencore and trading groups Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras.
"Glencore has been cooperating extensively with the various authorities in order to resolve these investigations as expeditiously as possible," the company said.
"While Glencore cannot forecast with certainty the cost, extent, timing or terms of the outcomes of the investigations, the Company presently expects to resolve the US, UK and Brazilian investigations in 2022," it added.
While Glencore eyes an end to its legal troubles, the company posted a net profit of nearly $5 billion (4.4 billion euros) for 2021 after a loss of $1.9 billion the previous year.
Glencore said its strong result especially reflected surging demand and prices for its metals and energy products, which had seen its pre-tax earnings jump 118 percent to $17.1 billion.
"In spite of the ongoing challenges of Covid-19, 2021 was an extraordinary year for Glencore," company chief executive Gary Nagle said in a statement.
The company's earnings on metals alone ticked in at $12 billion -- soaring 65 percent from a year earlier -- while earnings in its energy unit rose fivefold to $5.6 billion.
The company, which has long been struggling to bring down towering debt, said it had made good progress in 2021, more than halving its debt load to $6 billion.
Glencore launched a massive cost-cutting drive in 2015 when its debt ballooned to almost $30 billion as commodity prices had tanked.
On Tuesday, Glencore said it would dish out $4 billion to its shareholders as it more than doubled the dividend to $0.26 per share.
In addition, it launched a new $550-million share buyback programme.
Ferreira--PC