Glencore, the miner and commodities trader headed by billionaire Ivan Glasenberg, has sharpened its plan to cut debt after reporting its worst half-yearly profit since listing in London five years ago.
The company widened its debt-reduction target by $500m and plans to trim net borrowings to as low as $16.5 billion by year-end, it said in a statement. The shares dropped as much as 5.2 per cent as lower raw-material prices cut first-half profit by...
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