Olam Group Confirms Sale of Agri Business Stake to Saudi Fund
Olam Group Ltd. has confirmed it will sell its 44.6% stake in its agribusiness to a state-owned Saudi investment firm for $1.78 billion.
Saudi Agricultural & Livestock Investment Co., controlled by the country's sovereign wealth fund, was reported in November to be in advanced talks on a transaction that would value Olam Agri Holdings at about $4 billion.
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10 hours ago
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Is a $5,000 DOGE stimulus check a real thing? What we know
In February, President Donald Trump said he was considering a plan to pay out $5,000 stimulus checks to American taxpayers from the savings identified by billionaire Elon Musk's Department of Government Efficiency (DOGE). Are they happening? No official plan or schedule for such a payout has been released, and a decision on the checks would have to come from Congress, which has so far been cool to the idea. And there have been questions as to how much DOGE has actually saved. The idea was floated by Azoria investment firm CEO James Fishback, who suggested on Musk's social media platform X that Trump and Musk should "should announce a 'DOGE Dividend'" from the money saved from reductions in government waste and workforce since it was American taxpayer money in the first place. He even submitted a proposal for how it would work, with a timeline for after the expiration of DOGE in July 2026. "At $2 trillion in DOGE savings and 78 million tax-paying households, this is a $5,000 refund per household, with the remaining used to pay down the national debt," he said in a separate post. Musk replied, "Will check with the President." "We're considering giving 20% of the DOGE savings to American citizens and 20% to paying down the debt," Trump said in a during the Saudi-sponsored FII PRIORITY Summit in Miami Beach the same month. DOGE has dismantled entire federal agencies, wiped out government contracts and led the firings of tens of thousands of federal workers, leaving many agencies struggling to continue operations. DOGE checks? Elon Musk dodges DOGE stimulus check question during Wisconsin rally: Here's what he said. Fishbeck suggested that the potential refund go only to households that are net-income taxpayers, or households that pay more in taxes than they get back. The Pew Research Center said that most Americans with an adjusted gross income of under $40,000 effectively pay no federal income tax. They would not be eligible. If DOGE achieves Musk's initial goal of stripping $2 trillion from U.S. government spending by 2026, Fishback's plan was for $5,000 per household, or 20% of the savings divided by the number of eligible households. If DOGE doesn't hit the goal, Fishback said the amount should be adjusted accordingly. 'So again, if the savings are only $1 trillion, which I think is awfully low, the check goes from $5,000 to $2,500,' Fishback said during a podcast appearance. 'If the savings are only $500 billion, which, again, is really, really low, then the [checks] are only $1,250.' However, while Musk talked about saving $2 trillion in federal spending during Trump's campaign, he lowered the goal to $1 trillion after Trump assumed office and said in March he was on pace to hit that goal by the end of May. At a Cabinet meeting in April, Musk lowered the projected savings further to $150 billion in fiscal year 2026. Musk left the White House at the end of May when his designation as a "special government employee" ended. DOGE, the advisory group he created, is expected to continue without him. That depends on who you ask. On its website, DOGE claims to have saved an estimated $175 billion as of May 30, "a combination of asset sales, contract and lease cancellations and renegotiations, fraud and improper payment deletions, grant cancellations, interest savings, programmatic changes, regulatory savings, and workforce reductions." The site says that works out to $1,086.96 saved per taxpayer. However, many of DOGE's claims have been exaggerated and several of the initiatives to slash agency workforces have been challenged in court. DOGE has been accused of taking credit for contracts that were canceled before DOGE was created, failing to factor in funds the government is required to pay even if a contract is canceled, and tallying every contract by the most that could possibly be spent on it even when nothing near that amount had been obligated. The website list has been changed as the media pointed out errors, such as a claim that an $8 million savings was actually $8 billion. On May 30, CNN reported that one of its reporters found that less than half the $175 billion figure was backed up with even basic documentation, making verification difficult if not impossible. Some of the changes may also end up costing taxpayers more, such as proposed slashes to the Internal Revenue Service that experts say would mean less tax revenue generated, resulting in a net cost of about $6.8 billion. Over the next 10 years, if IRS staffing stays low, the cumulative cost in uncollected taxes would hit $159 billion, according to the nonpartisan Budget Lab at Yale University. The per-taxpayer claim on the website is also inflated, CNN said, as it's based on '161 million individual federal taxpayers' and doesn't seem to include married people filing jointly. This article originally appeared on Florida Times-Union: DOGE dividends: Will American taxpayers get a $5,000 check?
Yahoo
a day ago
- Yahoo
Tudor backs favourite, Allegri-Dusan tension, Inter eyes Saudi move 🇸🇦🤑
All eyes tonight will be on the match between Italy and Norway, but as usual, the market takes the spotlight first. Not only Chivu to Inter and Kelly's official move to Juventus: there are many market news released during the day and below you will find some of the most important ones. Juventus, Tudor wants his protégé After Juventus' decision not to extend Renato Veiga's loan, who is set to return to Chelsea, the Turin club is looking for a replacement in defense. Among the names considered with greater insistence stands out that of Balerdi, central defender of Marseille, already coached by Igor Tudor in the past. Advertisement The Argentine born in '99, who also holds an Italian passport, is a profile appreciated by the former Bianconeri coach. His experience in Ligue 1 makes him a solid option for the backline. Goal reports this. Milan, Allegri thinks of Vlahovic Milan is particularly active in this phase of the transfer market, with the clear goal of adding a striker capable of scoring in double digits. The name at the top of the list, according to is Dusan Vlahovic. The Serbian center forward, leaving Juventus, has long been one of Massimiliano Allegri's favorites. The Tuscan coach, now involved in the Rossoneri project, has asked to deepen contacts with the Bianconeri. The first dialogues, already started for Cambiaso, could facilitate the negotiation. Inter, watch out for Inzaghi's Al Hilal Inter will be able to invest in the market again thanks to a positive balance sheet and revenues exceeding 500 million euros. To these incomes will be added those derived from possible sales. Among the fans' concerns is the risk that Inzaghi's arrival at Al-Hilal attracts profiles like Bastoni and Barella. Advertisement The former was already sounded out by Al-Nassr in January, who stopped in front of the 80 million request. Barella, on the other hand, said no to a monstrous offer of 30 million a year, but Al-Hilal insists. The Saudi club also targets Osimhen, Ederson and Theo, with the goal of delivering a team of stars to Simone Inzaghi by June 18 for the Club World Cup. Repubblica reports this. Napoli, new name for the wing Antonio Conte has clear ideas about the future Napoli: the club is ready to announce the arrival of Kevin De Bruyne at the beginning of next week. The club aims to complete the squad with seven more additions, to best face the four competitions scheduled. Today's edition of Il Mattino reports this. One of the coach's priorities is a right winger capable of providing width and coverage along the entire flank, in support of Di Lorenzo. At the top of the list is Raoul Bellanova, protagonist of a positive season with Atalanta. Purchased for 25 million, he could only leave in the face of a significant offer. Roma, Lucumí liked for defense Roma has targeted Jhon Lucumí to strengthen the defensive department, considering him a primary objective. The Colombian center-back is valued at around 20 million euros by Bologna, which has already rejected lower proposals. TMW. reports this. Advertisement However, it seems complicated that the Emilian club decides to sell both Lucumí and Beukema in the same transfer window. The next few days will be decisive to understand if there will be room for negotiation. The situation remains evolving. Lazio-Castellanos, will it be goodbye in the summer? Taty Castellanos is not among Lazio's untouchables and could leave the club in the summer. According to the club would be willing to consider offers starting from 30 million euros to reinvest for a striker with different characteristics. Castellanos himself seems to consider the idea of a change of jersey, evaluating possible alternatives. The first inquiries have come from the Premier League and Saudi Arabia, but so far without concrete developments. Only concrete proposals could start the negotiation for the farewell. Fiorentina, is Dodo's renewal complicated? Fiorentina has started contacts for the renewal of Dodo's contract, expiring in 2027, but the Brazilian full-back has not yet provided an answer. The club's proposal includes a salary adjustment only at the end of the agreement, an option that does not fully convince the player. The situation is therefore at a standstill, as Il Corriere dello Sport reports. Advertisement This uncertainty has attracted the interest of several European clubs, including Barcelona, Milan and Inter, ready to monitor the evolution of the case. In the last few hours, Juventus has also entered the race for the full-back. Dodô's future therefore remains open to possible developments. This article was translated into English by Artificial Intelligence. You can read the original version in 🇮🇹 here. 📸 Alessandro Sabattini - 2025 Getty Images
Yahoo
a day ago
- Yahoo
NVIDIA Blackwell Fuels AI Surge -- Super Micro Emerges as Top Winner
June 6 - Super Micro Computer (NASDAQ:SMCI) is poised to gain as NVIDIA's (NASDAQ:NVDA) Blackwell GPU rollout accelerates. Analysts point to a $20 billion partnership with Saudi data center firm DataVolt and upbeat upgrades as key drivers. Warning! GuruFocus has detected 5 Warning Signs with SMCI. Last week, NVIDIA reported that Blackwell chips now account for about 70% of its data center revenue, with sales roughly doubling quarter over quarter. These GPUs power cutting-edge AI workloads, and Super Micro's server designs are built to match that demand. SMCI's modular systems feature advanced cooling and power management, making them an ideal match for Blackwell's dense computing requirements. The companies collaborate closely on software integration, ensuring SMCI servers support the latest NVIDIA architectures from day one. Additionally, SMCI's partnership with Saudi data center operator DataVolt, valued at $20 billion, underscores its role in supplying high-density GPU servers. As Blackwell deployments spread across hyperscale facilities, SMCI stands to benefit from strong demand for customizable, high-performance infrastructure. While SMCI's profit margins remain tighter than some peers, its agility in aligning with NVIDIA's AI roadmap helps drive growth. Investors monitoring AI hardware trends view SMCI as a key beneficiary of NVIDIA's expanding GPU ecosystem. Based on the one year price targets offered by 15 analysts, the average target price for Super Micro Computer Inc is $40.00 with a high estimate of $70.00 and a low estimate of $15.00. The average target implies a downside of -1.90% from the current price of $40.77. Based on GuruFocus estimates, the estimated GF Value for Super Micro Computer Inc in one year is $68.35, suggesting a upside of +67.65% from the current price of $40.77. This article first appeared on GuruFocus. Inicia sesión para acceder a tu cartera de valores
