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Fitch downgraded the company’s debt on Monday to BBB- and placed it on ratings watch negative. Late on Friday, Standard & Poor’s put Vale’s debt under review for possible downgrade. So far, Brazilian courts have issued orders to freeze 11.8 billion reais ($3.1 billion) in Vale’s accounts to cover rescue efforts and damages. The company had around 24 billion reais in cash and equivalents at the end of the third quarter. Analysts at Credit Suisse said in a note to clients they anticipated regulatory changes for tailings dams because it was the second disaster in less than four years, after the fatal 2015 dam burst at Samarco Mineracao, a joint venture by Vale and BHP Group best cufflinks brands in india.

(Reuters) – U.S. home appliances maker Whirlpool Corp said on Monday its 2019 adjusted profit and revenue are likely to rise less than analysts’ expectations due to a higher tax bill, costs and a strong dollar, sending its shares down 6.5 percent after the bell. Whirlpool has been grappling with high costs as a trade dispute between United States and China has made imported steel and aluminum more expensive, forcing it to raise prices for its washing machines and kitchen appliances. The company said it expects about $300 million more in expenses due to higher import duty on raw materials used in its appliances. A higher tax rate is also expected to reduce its full-year earnings by 30 cents per share, the company said best cufflinks brands in india.

Whirlpool’s disappointing forecasts follows weak guidance from industrial bellwether Caterpillar and chipmaker Nvidia, both of which blamed slowing demand from world’s No.2 economy, China. The company said it expects 2019 adjusted profit to be in the range of $14 to $15 per share compared with analysts’ expectation of $15.99 and revenue of $20.3 billion, below Wall Street estimate of $20.76 billion, according to IBES data from Refinitiv. The company said higher raw material costs and tariffs resulted in softer demand in North America, its biggest segment. But still sales in the region grew about 7 percent to $3.10 billion best cufflinks brands in india.

However, weak demand in Europe, Middle East and Africa pulled down its overall net sales by about 0.7 percent to $5.66 billion, missing analyst average estimate of $5.76 billion. In October, the U.S. manufacturer had said it would exit a number of loss-making businesses in Europe in a bid to restore profitability. In a post-earnings presentation, the company said it expected “uncertain external environment and volatility to continue”. The company’s fourth-quarter profit beat analysts’ estimates, boosted by higher margins in North America. Excluding items, it earned $4.75 per share and beat the analyst average estimate of $4.23 per share best cufflinks brands in india.

(Reuters) – AT&T Inc is cutting some jobs in declining areas of its business, while hiring more people in faster-growing segments, an AT&T spokesman said on Monday. The layoffs will affect a “small” portion of the workforce and are consistent with staffing changes AT&T has done in the past, spokesman Jim Greer told Reuters by telephone best cufflinks brands in india. He declined to specify how many positions would be cut. AT&T is the second-largest U.S. wireless carrier by subscribers. Last year it agreed to buy Time Warner for $85 billion, and it said in June it plans to achieve annualized cost savings of $1.5 billion over three years..