EIB freezes lending to Glencore

The European Investment Bank has frozen all lending to Glencore, citing “serious concerns” about governance at the world’s largest commodities trader, in a serious setback for the company which recently listed in London, reports the FT. The European Union’s financing institution, which has provided loans for Glencore’s projects in Africa, said on Wednesday it would “decline any further financing request from this company” until it finishes an internal investigation.