LONDON, March 31 The London Metal Exchange (LME) has imposed a $1.4 million fine on the metals warehouse unit of commodity group Glencore over alleged falsified documents, it said in a statement.
The exchange, the world's oldest and largest market for industrial metals, said Glencore's Access World agreed to pay the fine "without admitting any of the alleged breaches". "The exchange reminds the market that it expects its listed warehouses ... to act with integrity at all times," the LME, owned by Hong Kong Exchanges and Clearing Ltd., said in the statement. (Editing by David Evans)
U.S. housing stocks may rally as millennials age -Smead
NEW YORK, June 28 Stocks of large U.S. home builders and building materials companies are poised to rise as millennials age and need housing, according to Bill Smead, the chief executive of Smead Capital Management.