Iron Ore Futures Tumble in Singapore as Vale-Driven Rally Frays

Benchmark futures in Singapore plunged as much as 7 percent to $82 a ton, albeit in thin overnight action, before trading 4.7 percent lower at $84 by 3:04 p.m. The fall comes after prices broke above $90 last week, capping a 20 percent-plus surge over the past fortnight. On the Dalian Commodity Exchange, iron ore futures fell 2.8 percent, after closing limit-up Monday to their highest since March 2017 as Chinese traders played catch-up following the Lunar New Year break. “If there are no more additional closures or planned closures in Brazil, then there may be some kind of price correction,� Richard Lu, analyst at CRU Group in Beijing, said by phone.

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Iron Ore Futures Tumble in Singapore as Vale-Driven Rally Frays

Debenhams Gets Breathing Room With 40 Million-Pound Credit Deal

The company also announced an agreement with export and logistics company Li & Fung Ltd. on a sourcing partnership for Debenhams own-brand products. The deal “will help us anticipate and respond more quickly to trends and our customers’ preferences, as well as delivering better quality product,� Chief Executive Officer Sergio Bucher said in a statement Tuesday. Debenhams, laden with debt, has been caught up in the sweeping decline of the U.K.’s traditional downtown retailers.

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Debenhams Gets Breathing Room With 40 Million-Pound Credit Deal

Brazil judge overturns 72-hour suspension of WhatsApp

By Natalia Scalzaretto SAO PAULO (Reuters) – A Brazilian judge on Tuesday overturned a suspension of Facebook Inc's WhatsApp messaging application that affected some 100 million users, after many people voiced frustration at the second such freeze in five months in the South American country. On Monday, a judge in the northeastern state of Sergipe had ordered Brazil's five main wireless operators to block access to WhatsApp for 72 hours. The judge who ordered the suspension, Marcel Maia Montalvão, in March ordered the imprisonment of a Brazil-based Facebook executive in a dispute over law enforcement demands for data from the company’s encrypted messaging service for use in a drug trafficking investigation.

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Brazil judge overturns 72-hour suspension of WhatsApp

Tiffany cuts jobs as sales lose sparkle

Tiffany's shares were down 4 percent at $64.91 in heavy premarket trading on Tuesday. “We believe overall sales results were negatively affected by restrained consumer spending tied to challenging and uncertain global economic conditions,” Chief Executive Frederic Cumenal said on Tuesday. Tiffany, founded in 1837, has been spending heavily on designing and marketing contemporary gold and silver jewelry to appeal to a younger, more style-conscious consumer.

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Tiffany cuts jobs as sales lose sparkle

IMF cuts global growth forecast as China slows

The International Monetary Fund cut its global growth forecasts for the third time in less than a year on Tuesday, as new figures from Beijing showed that the Chinese economy grew at its slowest rate in a quarter of a century in 2015. To back its forecasts, the IMF cited a sharp slowdown in China trade and weak commodity prices that are hammering Brazil and other emerging markets. The Fund forecast that the world economy would grow at 3.4 percent in 2016 and 3.6 percent in 2017, both years down 0.2 percentage point from the previous estimates made last October.

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IMF cuts global growth forecast as China slows