Commodities trader Glencore Xstrata Plc half-year profit fell 39 percent because it reservation USD $ 760 million Glencore and Xstrata's merger, asset write-downs this year.
Headquartered in Switzerland, the company that provides the world's raw materials and operating mines, factories and warehouses, said its net income fell to 2.04 billion, from last year's 3.36 billion dollars.
Glencore Xstrata Plc on Tuesday said in its financial statements, reflecting the write down "is more widespread negative mining industry environment" in the January to June period.
Glencore and Xstrata merger, creating the company's holding company from mining to smelting, coal, copper and corn and other basic commodities storage and delivery chains.
 



Other News:
Malaysia cuts GDP forecast in sign of Asia stress
Glencore profit hit by $7.6 billion Xstrata charge
Allegiant Air targets East Coast with new routes
Jackson Hole flying little lower this year without Fed chair
Assad's forces push back rebels in Syria's Alawite mountains
U.N. panel to hear accounts of North Korean human rights abuses
Emergency crews respond to Pa. plant explosion
Vodafone in multi-million tax settlement: report