Glencore Xstrata profit drop comes on $7.66 billion write-down following merger

  • by: JOHN HEILPRIN , Associated Press
  • Updated: August 20, 2013 - 12:05 PM

GENEVA — Newly merged commodities and mining group Glencore Xstrata Plc reported a sharp drop in profit Tuesday, while taking a first-half loss of almost $8.5 billion, mainly from the value of the mining assets it acquired.

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