Glencore Seeks to Dig Itself Out of Debt Hole

Glencore Plc, the miner and commodity trader run by billionaire Ivan Glasenberg, reported a 66 percent drop in first-half profit on lower raw-materials prices. Net income excluding some items in the six months to June 30 fell to $300 million from a year earlier, the Baar, Switzerland-based company said in a statement Wednesday. That compares with a $318 million average estimate of 16 analysts compiled by Vuma Consensus and posted to the mining company’s website. Net debt declined to $23.6 billion. Macquarie Global Head of Commodities Research Colin Hamilton discusses miners and commodities with Bloomberg's Anna Edwards on "Countdown."

Full Show: Bloomberg Daybreak: Americas (09/20)
36:30 - Bloomberg Daybreak: Americas hosted by David Westin, Jonathan Ferro, and Alix Steel. Guests include Stephen Ross, chairman at Related Companies, John Ryding, chief economist at RDQ Economics, and James Sweeney, chief economist at Credit Suisse AG. (Source: Bloomberg)
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