Glencore plant probed over tax

Commodities trader Glencore said yesterday that Italian tax authorities were investigating some transactions involving its plant in Sardinia. The news came after Italian tax police said they had uncovered tax evasion to the tune of more than €120m (£102.1m) at a metals producer on the island. Glencore, which owns a lead and zinc smelter at Portovesme in Sardinia, stated: “All transactions were conducted in accordance with applicable Italian tax laws.”