Arab Today, arab today glencore xstrata posts 74bn loss for 2013
Last Updated : GMT 04:20:45
Arab Today, arab today
Arab Today, arab today

Glencore Xstrata posts $7.4bn loss for 2013

Arab Today, arab today

Arab Today, arab today Glencore Xstrata posts $7.4bn loss for 2013

Zurich - AFP

Mining giant Glencore Xstrata plunged deep into the red in 2013 with a net loss of $7.4 billion (5.3 billion euros) from a profit of $1 billion a year ago, after booking massive writedowns related to its merger. The group said in an earnings statement Tuesday it took a charge of $7.5 billion during the year to write down goodwill or intangible assets that were now valued at a lower rate than when they changed hands. The impairment charge also included write-downs at various sites amid the "persistent challenging nickel and aluminium market environments". Swiss commodities trader Glencore and mining giant Xstrata merged on May 2, a transaction that propelled it to become one of the world's biggest players in the commodities market alongside firms like Brazil's Vale, British-Australian BHP Billiton and British-Australian Rio Tinto. But just three months after, it booked massive merger writedowns. Revenues for the year however, rose by 9 percent to $232.6 billion, the group said in a statement.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today glencore xstrata posts 74bn loss for 2013 Arab Today, arab today glencore xstrata posts 74bn loss for 2013

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today glencore xstrata posts 74bn loss for 2013 Arab Today, arab today glencore xstrata posts 74bn loss for 2013

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday