US demands Glencore documents to check on corruption

GENEVA (AP) — Shares in commodities trading company Glencore have plunged after it was ordered to hand over documents and records to the U.S. Department of Justice for its compliance with corruption and money laundering rules.

The company, which is based in Baar, Switzerland, said Tuesday the requested documents relate to its business in Nigeria, Congo and Venezuela from 2007 onwards. It said it is reviewing the subpoena.

Shares in the company dropped almost 12 percent in London, where they are listed.

This article provided by NewsEdge.