Iron ore trader Radiant World is threatening legal action against Glencore. In a wide-ranging dispute between the two sides, Radiant World alleges that the larger competitor caused it more than $1.4 billion in losses. The Singapore police confirmed that they have launched an investigation into Radiant World after receiving complaints against the Singapore-based company. Radiant World has denied any wrongdoing. The company sent an attorney letter to Glencore on Thursday requesting the recovery of more than $800 million. Glencore stated, “These claims are unfounded, and Glencore can actively defend them.” It added, “Radiant World's actions have caused us losses and risks, and we will take appropriate measures.”

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