Glencore to Pay $1.5 Billion to Settle Bribery Probe

The transcript discusses Glencore's involvement in a bribery scandal spanning Africa and Latin America, where the company paid over $100 million in bribes over a decade. The US government highlighted that bribery was ingrained in Glencore's corporate culture. Despite the scandal, no top executives have faced consequences yet. Glencore claims to have reformed with new compliance measures and a change in personnel.

What was the primary reason for Glencore's legal troubles?

• Bribery and corrupt payments

• Environmental violations

• Tax evasion

• Labor disputes

How much did Glencore admit to paying in bribes over a decade?

• $500 million

• $50 million

• $100 million

• $200 million

What was a significant issue highlighted in the Glencore case?

• Inadequate product quality

• Poor customer service

• Lack of environmental policies

• Endemic bribery within corporate culture

What has been the consequence for Glencore's senior executives so far?

• They have faced no significant consequences

• They have been fined heavily

• Many have been imprisoned

• They have been promoted

What changes has Glencore implemented following the corruption case?

• Reduction in workforce

• Expansion into new markets

• New compliance and ethics measures

• Increased production