Occasional Digest

Glencore takes $480M provision for Radiant World risk (GLNCY)

Glencore Company Headquarters in Zug/Baar (Switzerland)

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Glencore (GLNCY) has taken a provision of roughly $480M to account for its exposure to iron ore trader Radiant World, which is facing a liquidity squeeze amid concerns that it allegedly provided falsified documents to banks, Bloomberg reported on Saturday.

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