Trafigura to give £1bn in bonuses to top traders and executives
Oil, gas and metals merchant Trafigura will reward its top traders and executives with bonus payouts worth over £1bn this year after the company made record profits from the market upheaval triggered by the Covid pandemic.
The rewards raked in by senior executives will climb by 87% from last year to £1.1bn after volatility in the global commodities market helped the company to almost double its net profit to $3.1bn, the highest in its 28-year history.
The company was able to use the severe swings in the market price for commodities – driven by sudden Covid-19 lockdowns and economic reopenings – to lock in profits through its trading activities.
Commodity traders have emerged as one of the chief beneficiaries of the tumult in global commodities
Read more on theguardian.com
