Glencore hit by $790 million writedown, cuts spending

[caption id="attachment_831508" align="aligncenter" width="600"] Tintaya concentrator in Peru (Source: Glencore)[/caption] Mining and commodities giant Glencore (LON:GLEN) revealed Thursday it would take a $790-million charge on its oil assets in Chad, and cut its capital expenditure this year to preserve cash,...