Glencore to pay $1bn settlement amid US bribery and market abuse allegations

Company also indicates it will plead guilty to bribery counts in UK in relation to oil operations in Africa

The commodities trading giant Glencore will pay a $1bn (800m) US settlement and has indicated it will plead guilty to seven counts of bribery in the UK related to its oil operations in Africa.

Glencore, a member of the FTSE 100 index of Britain's biggest public companies, said it would pay penalties of $700m to resolve US bribery investigations and $485m to resolve market manipulation investigations, with some reductions in anticipation of settlements in other countries.