Cliffs shares jump 10% on better-than-expected profit

Futures dropped for a fourth day in Singapore, to trade about 3% lower for the week.

BHP needs to offer at least a 40% premium over Anglo's share price for a new takeover bid, but its CEO has committed to spending discipline.

With no predictable mold for how this will work, the only certainties will likely be volatility and numerous factors working in opposing directions.

Palliser Capital claims Rio Tinto's current dual-listed structure has deprived investors of $50 billion in value.