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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Glencore    GLEN   JE00B4T3BW64

GLENCORE

(GLEN)
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Glencore Loses Bid to Prevent Australian Tax Office Using 'Paradise Papers' Documents

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08/13/2019 | 11:07pm EST

By Rhiannon Hoyle

SYDNEY--Glencore PLC (GLEN.LN) has lost a bid to stop Australia's tax office from using documents that detail some of its offshore financial arrangements, as its case was dismissed by the country's high court on Wednesday.

Glencore sought an injunction to keep Australia's top tax officials from using documents stolen from Bermuda law-firm Appleby and provided to the International Consortium of Investigative Journalists. The documents were released as part of the so-called Paradise Papers, a collection of more than 13.4 million documents that detail the ways giant corporations, billionaires and celebrities move money through offshore tax havens to reduce their taxes.

"Glencore respects today's High Court decision," a spokesman for the company said in an emailed statement.

-- Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE -1.51% 241.65 Delayed Quote.-15.79%
GLENCORE PLC -0.98% 46.5 End-of-day quote.-10.80%
SILVER 0.93% 16.968 Delayed Quote.8.88%
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Financials (USD)
Sales 2019 210 B
EBIT 2019 4 499 M
Net income 2019 1 439 M
Debt 2019 32 190 M
Yield 2019 5,51%
P/E ratio 2019 28,3x
P/E ratio 2020 12,2x
EV / Sales2019 0,35x
EV / Sales2020 0,32x
Capitalization 41 804 M
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Number of Analysts 24
Average target price 3,59  $
Last Close Price 3,15  $
Spread / Highest target 104%
Spread / Average Target 13,9%
Spread / Lowest Target -56,8%
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Ivan Glasenberg Chief Executive Officer & Executive Director
Anthony Bryan Hayward Non-Executive Chairman
Steven F. Kalmin Chief Financial Officer
Peter Roland Coates Non-Executive Director
Leonhard Heinrich Fischer Independent Non-Executive Director
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