Turkish Billionaire Strikes $465 Million BHP Brazil Mine Deal
The companies entered into a binding agreement for the sale on Aug. 15, BHP announced early Tuesday alongside its full-year earnings, with up to $225 million of the price tag contingent on future production and project-related targets.
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Forbes
16 minutes ago
- Forbes
Giving Back In Argentine Wine Country
Argentina has long been a country that suffers from massive inequality. Economic instability and a series of corrupt governments have not helped to equalize the balance among the classes. So, it is impactful to see a successful winery doing everything it can do to support its workers and the local community. I had a chance to visit the Santa Julia Winery in Mendoza and get a look at what the Zuccardi family is doing to help their neighbors and those who work at the winery. Julia Zuccardi, one of the family owners, has overseen these outreach programs since they started more than a decade ago. They include educational and sewing lessons for adults and daycare for children. She says she was inspired by her grandmother's devotion to supporting the winery's employees who had children so they would be able to better focus on work. I had a chance to talk to her and understand what motivated her family to give back to a rural, and often impoverished, community. All answers have been edited and condensed for clarity. Liza B. Zimmerman (L.B.Z.): When did you start these programs at the winery? Julia Zuccardi (J.Z.): The relationship with the community has always been part of our DNA. In 2008, my grandmother Emma spearheaded the Corporate Social Responsibility (CSR) project, we inaugurated the first gym for our employees and were already considering other educational projects. By 2011, the CSR initiative continued to grow, and we opened classrooms to help our employees complete their secondary education and established a summer school program. We have two Cultural Centers, one in our estate in Maipú and the other in Santa Rosa, which are home to sewing workshops, gyms, kindergartens and school support centers, among other programs. L.B.Z.: What inspired you to open these training centers? J.Z.: Our family has always valued the land where we live, understanding that this includes the people that live there. As a family-owned business, we have always been committed to social responsibility. We believe that true equality and the provision of real opportunities are both best achieved through education. That is why we see it as essential for our employees to finish their studies. L.B.Z.: What skills and services did you originally want to offer and how have they changed? J.Z.: The services, which were initially more recreational, took shape over the years, until they became more formal and endorsed by the local government. Our high school graduation program is a good example, as are the kindergartens. We also have a program to facilitate the reintegration of women working after they have had a child. It allows them to return to work in stages, so they can continue with their professional and personal development and not have to choose between two worlds. L.B.Z.: How many kids use the daycare services? J.Z.: Today more than 80 children who are from a month and a half to 12 years old attend the center. Unlike other centers, we also provide educational services throughout the year. L.B.Z.: What types of classes are taught? J.Z.: Training is provided in sewing, finance and finances and industrial production processes, among others, in order to improve the quality of what they are learning to produce. L.B.Z.: How have some of these women used these skills to get jobs? J.Z.: Some of them do work for our warehouse, but they also have outside clients. Now they are expanding their services to include printing and embroidery among other things. L.B.Z.: What kinds of activities are done with the kids during the day? J.Z.: Our classrooms focus on different activities than the what children would experience in a regular schools. The main objective is for the winery to take care of the children while their parents work. L.B.Z.: What would you say the ratio of winery's workers kids are non-winery workers? J.Z.: We give priority to the children of employees who work in the company. The proportion that we try to maintain is 60 percent children of our workers and 40 percent children from the local community. The idea is that everyone can take advantage of the opportunity to be part of these spaces. L.B.Z.: What other types of services in Mendoza has your example inspired among other wineries or industries? J.Z.: In Mendoza we were pioneers. We had looked at some models from other companies and industries, but we implemented them based on our own philosophy. We wanted to have projects that not only improved the quality of life and well-being of our employees, but also of the community.
Yahoo
44 minutes ago
- Yahoo
Dayforce (DAY) Soars 26% on Acquisition Reports
We recently published . Dayforce Inc. (NYSE:DAY) is one of Monday's top performers. Dayforce surged by 25.98 percent on Monday to finish at $66.62 apiece as investors gobbled up shares following reports that it was set to be acquired by private equity firm Thoma Bravo for $9.9 billion. According to a report by Reuters, citing sources privy to the matter, a deal could be announced as early as this week or possibly next week. Meanwhile, Bloomberg said that the deal could still be delayed or fall through. Thoma Bravo has been actively pursuing software acquisitions this year as part of its plans to take advantage of the booming artificial intelligence. Earlier this month, Dayforce Inc. (NYSE:DAY) announced an impressive earnings performance in both the second quarter and the first half of the year. In the quarter period, the company swung to a net income of $21.3 million from a $1.8 million net loss in the same period last year, as total revenues grew 10 percent to $464.7 million from $423.3 million year-on-year. Copyright: rawpixel / 123RF Stock Photo In the first half, net income soared by 583 percent to $36.2 million from $5.3 million, while revenues jumped by 10.7 percent to $946.5 million from $854.8 million year-on-year. While we acknowledge the potential of DAY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
Yahoo
44 minutes ago
- Yahoo
Banco do Brasil ready to handle 'complex' issues amid debate over US sanctions
BRASILIA (Reuters) -Banco do Brasil said on Tuesday it is prepared to deal with "complex, sensitive" issues involving global regulations after a top court justice ruled foreign laws cannot be automatically applied in Brazil. The statement followed a Reuters query about the U.S. Magnitsky Act, which President Donald Trump used last month to sanction Supreme Court Justice Alexandre de Moraes, accusing him of authorizing arbitrary arrests and curbing freedom of speech. Moraes oversees the case of far-right former President Jair Bolsonaro, a Trump ally, who is charged with plotting a coup after losing the 2022 election to leftist President Luiz Inacio Lula da Silva. Justice Flavio Dino, ruling in a separate case on Monday without mentioning the sanctions on Moraes, suspended local enforcement of foreign judicial decisions, laws, and executive orders that lack approval from Brazil's sovereign bodies. The ruling sparked intense debate among Brazilian banks already grappling with how to comply with the Magnitsky Act, which freezes assets under its jurisdiction and bars American firms from dealing with sanctioned individuals. Given the global reach of the U.S. financial system, foreign banks often restrict a wider range of transactions to avoid secondary sanctions. The dilemma between following a Brazilian Supreme Court order or U.S. sanctions weighed on shares of top Brazilian lenders, all of which fell on Tuesday. State-controlled Banco do Brasil led the losses, trading down 4% by midday, while private lenders Bradesco, Itau, Santander Brasil and BTG Pactual all dropped more than 3%. Banco do Brasil said in its statement it operates "in full compliance with Brazilian law, the regulations of more than 20 countries where it is present, and international standards governing the financial system." "The bank always closely monitors such matters and relies on specialized legal advice to ensure its practices align with the highest standards of governance, integrity and financial security," it added.
