Glencore shares storm ahead on zinc cutback news

Shares in commodities group Glencore rose strongly Friday after the company said it is slashing its zinc production by a third and cutting jobs in response to sharp fall in the price of the metal. The move — which will involve a cut in annual zinc production by 500,000 tons in Australia, South America and Kazakhstan — is the latest response by the Switzerland-based company to the slide in commodity prices that has raised...