Glencore: Another day, another probe

Investors seem to be shrugging off yet another corruption investigation into the dealings of mining and natural resource giant Glencore, run by its SA CEO, Ivan Glasenberg. Last week, Glencore revealed that the US Commodity Futures Trading Commission (CFTC) is probing whether the company violated the Commodity Exchange Act or other rules through "corrupt practices". The stock dropped 3.75% on the JSE on Friday before bouncing back 0.7% on Monday as the market digested the slim odds of a fine. But this latest revelation adds to the cloud of suspicion over a company whose aggressive trading culture means it has often courted regulatory skirmishes. PODCAST: The growing power of class action lawsuits Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Cast | Player.fm As one mining analyst, speaking on condition of anonymity, puts it, Glencore is "just one of those companies where it is in their culture or DNA to sail close to the wind".He adds: "People invest in these companies beca...