Nice piece of editing of a BBC news programme(s?) that makes the link between Glencore’s speculative investments and rising food price rises. No doubt these links would not have been made explicit by the Beeb!

 

Glencore only recently floated on the stock exchange and revels in its reputation as ‘the biggest company you have never heard of.’ Valued now at somewhere North of $36 Billion, Glencore plays and dominates the commodities market – trading in everything from rape seed oil to coal.

Glencore seems to be a major player in the Corporate irresponsibility stakes – CEO Ivan Glasenburg is described by the FT as ‘one of the great enigmas of the corporate world’ and another major player in the Glencore game is Marc Rich (seriously, this looks interesting!) was charged with racketeering, tax evasion, and trading with the enemy (Iran) – until he was controversially pardoned by Bill Clinton in the closing hours of his Presidency. Glencore used to be named Marc Rich& Co.