Swiss-based resources giant Glencore Xstrata has posted a staggering USD$7.4 billion loss for 2013 resulting primarily from a massive write down on the goodwill generated by the company's recent history-making merger.

Glencore Xstrata has announced that its net loss attributable to shareholders was USD$7.4 billion (AUD$8.12 billion) in 2013, for a massive reversal compared to the net profit of USD$1 billion reaped by the company in 2012, when Glencore launched a concerted effort to takeover fellow Swiss-based commodities giant Xstrata. The…