Mubadala-Backed Atvos Mulls Bid for Raizen Sugar Mills
Raizen, a joint-venture between Shell Plc and Cosan SA, hired Banco Itau BBA for the sale, according to one of the people. The mills are located in the Brazilian state of Mato Grosso do Sul.
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Yahoo
7 hours ago
- Yahoo
Details of first Manchester City offer for Rodrygo Goes revealed
Real Madrid are yet to make any major sales this summer, with most of their outgoings limited to the exits of veterans and Castilla players. However Brazilian star Rodrygo Goes is the one that seems like a possible departure in the final weeks of the transfer window. Los Blancos have made it clear that they are open to offers, and Rodrygo appears to be keen on a switch to the Premier League. Arsenal and Liverpool have been most strongly linked to Rodrygo for the majority of the summer, with the former enquiring about a loan offer for Rodrygo with an option or obligation to buy next year. Liverpool will only pursue Rodrygo if their move for Alexander Isak fails. Manchester City interest in Rodrygo returns However this week it has emerged that Manchester City have revived their interest in Rodrygo. Their decision to move very much hinges on a potential exit for Savinho, who is on the agenda at Tottenham Hotspur. Spurs must meet City's asking price, which is beyond €50-60m. Yet sources close to the matter have indicated to Football España that if they do reach a deal for Savinho, then City will launch into negotiations without delay. Image viaManchester City have initial proposal in mind Depending on the resolution of the Savinho deal, City intend to come to Real Madrid with an offer worth €80m plus an extra €20m in variables. Arsenal and Liverpool are yet to discuss such high figures as things stand. Agent Pini Zahavi is working on the matter, and Paris Saint-Germain are keeping an eye on the situation. Al-Nassr in Saudi Arabia are also interested, but Rodrygo wants to remain in Europe. It is an offer that could lead to a deal with Real Madrid. Previously it has been said that Florentino Perez would accept an offer in the range of €100m, with €80m the minimum in a fixed fee they would consider. From there, it would seem City and Real Madrid might be able to find a middle point.
The Hill
a day ago
- The Hill
Trump tariffs: A grocery shopper's guide
President Trump's tariffs could raise the cost of some of the most popular imports in American grocery aisles, from coffee and olive oil to wine, matcha and spices. After the 'Liberation Day' tariffs kicked in worldwide in early August, businesses and consumers alike are watching closely for when — and how much — prices tick up. Inflation data released Tuesday did not show an overall increase in food prices, but economists say that's likely to change as businesses pass more costs on to consumers. Wholesale prices surged 0.9 percent last month, the biggest monthly jump since June 2022 and a sign that inflation may not be cooling off just yet. 'Many of us anticipated ahead of time that you might see some faster movement in groceries, partly because you can't stockpile stuff right in the same way,' said Martha Gimbel, the Budget Lab at Yale's executive director. 'You can't stockpile a year's worth of avocados. That being said, the price increases that we've seen in food so far are pretty muted, so we'll just have to see what happens,' she said. Here are six iconic imported grocery products that could be impacted by Trump's tariffs. Coffee Coffee prices were already up before a 50 percent tariff on Brazil, the top coffee importer to the U.S., went into effect last week. Coffee prices sharply rose 25 percent over the past three months, according to inflation data released Tuesday. Reuters reported Tuesday that Brazilian coffee exports have started seeing postponements to their U.S. shipments. How hard your morning habit gets hit varies between brand, shop and choice of bean. Nespresso pods, for instance, are entirely produced in Switzerland, which is subject to a 40 percent tariff. Colombia, the second-largest importer of coffee to the U.S., only pays Trump's 10 percent baseline duty. 'Some importers might shift sourcing toward countries with exemptions, but in many cases the increased costs will all be passed on to you, the coffee lover,' Todd Carmichael, the co-founder of La Colombe, wrote in The Washington Post earlier this week. 'Surely, coffee is too essential and too global to put at the center of a geopolitical chess match.' Rep. Ro Khanna (D-Calif.) said Wednesday he would introduce a bill with bipartisan support to repeal tariffs on coffee. Olive oil Trump's tariffs have only added to the uncertainty facing olive oil producers, who are grappling with climate shocks. Extended droughts in Spain in 2022 slashed production, and other top production regions like Sicily and Greece have also confronted record-high temperatures. Allen Dushi, a co-founder of olive oil brand Graza, said the company has held off on increasing prices, adding that any uptick in import costs could take at least three to four months to reflect on grocery shelves. Many retailers or distributors require 60 to 90 days notice for a change, he said. The company uses Spanish olives, and production and bottling are all based in Spain. That limits the extent to which the company can keep stocks in the U.S., which would have to be finished bottles. 'We are not trying to stockpile inventory, because our priority number one is always the quality of what's inside the bottle,' Dushi said. 'That's not something we really compromise on.' Switching to American production wouldn't help, Dushi added; the company would still have to pay tariffs on Spanish olives, as American olive production doesn't meet the same standard. 'So as long as you're buying the oil, and importing the oil, you're going to be paying the tariff on that,' he said. Spain and Italy accounted for two-thirds of U.S. olive oil imports in 2024. Both are subject to the 15 percent tariff under the trade deal struck between the European Union and the U.S. in July. Other top producers are still subject to tariffs, such as Tunisia (25 percent), Turkey (15 percent) and Argentina (10 percent). Wine The July U.S.-E.U. trade deal was seen as a starting point. As negotiations have continued, the beverage industry and European officials have pushed for an exemption for wine and spirits, The Wall Street Journal reported. A group of nearly 60 associations representing wine, beer and liquor interests warned last week that the industry could face nearly $2 billion in lost sales and have to cut more than 25,000 jobs in the U.S. as a result of the tariff. The coalition, Toasts not Tariffs, pointed to products like cognac that have to be produced in a specific region and cannot be switched to a tariff-free alternative. Eric Foret is a wine buyer at Le French Wine Club, which operates several locations in New York City and Washington, D.C., alongside an online shop. He said that he had to increase his prices, although they were fairly gradual. 'It's a dollar here, a dollar there, a dollar here, a dollar there and then at the end, you spend ten dollars more on the bottle of wine, you don't even notice it,' he said. In addition to France, which accounted for more than one-third of U.S. wine imports last year, the EU tariff impacts shipments from Italy (33 percent of imports) and Spain (6 percent). Matcha A 15 percent tariff on Japan could impact the price of a matcha latte — already a pricey product before tax, tip and oat milk. While U.S. trade data does not specifically track matcha, Japan generally accounts for about half of American green tea imports by value each year, and Japanese origin is a selling point for many specialty matcha shops. The industry is also grappling with the impacts of record heat waves in Japan last summer that curbed harvests of tencha, the tea leaves dried and ground into matcha. Demand for the vibrant green beverage has also soared in recent years, driven by young enthusiasts and social media. David Cooper runs Spot of Tea, a Washington, D.C.-based shop with three locations selling matcha and other tea drinks. He considers himself lucky to have bought his 2025 stockpile before the tariffs and shortages hit. Now, however, 'we're looking at how much stock we have in our warehouse and then how much we're going through per month and doing the math and trying to push the suppliers to finalize the order as quickly as possible,' he said. 'It's definitely a little anxiety-inducing.' The uncertainty for the drink industry even extends to things like cups, Cooper said, which his shop sources from South Korea. 'I think on the day I was about to put the deposit down, Trump announced 25 percent tariffs for Korea. And so our supplier was basically, like, we cannot absorb all this cost,' he said. 'It's just so hard to tell at this point what percentage tariff is actually going to be applied.' Chocolate Switzerland, home to many famous chocolate brands, is facing a 39 percent duty, one of the highest in the world. Some of the country's larger manufacturers will be able to escape some tariff impacts because they already have production sites in the U.S. Lindt & Sprüngli, for example, produces the 'vast majority' of its products for the American market in New Hampshire, a company spokesperson said. That plant will still have to factor in tariff effects on raw materials like cocoa, imported from countries like Ivory Coast, Ecuador, Indonesia and Malaysia. Other companies, however, have made their brand on manufacturing in Switzerland. That's the case for Läderach, which is now figuring out how to manage 'massive additional costs,' its CEO said this week. 'I cannot change the tariffs. It is only human to get angry about them, enquire on who's guilt they are or be discouraged,' Johannes Läderach wrote in a LinkedIn post. 'But none of these options change anything, so I better pray for serenity to accept it.' Swiss leaders have attempted to negotiate with Washington on the tariff, which also impacts cheese and other exports. Swiss officials are now reportedly weighing whether to cancel an order for American F-35 fighter jets. Spices Trump shocked many observers by raising tariffs on India to 50 percent last week, citing its purchase of Russian oil. India is the top U.S. importer for spices like nutmeg, cardamom, anise, fennel, coriander, and cumin. Indonesia, another key producer, is subject to a 19 percent duty after negotiating with the White House. The American Spice Trade Association said in a Tuesday letter to Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer that many of its products could not be cultivated in the U.S.. 'The importation of spices directly supports approximately 50,000 U.S. jobs across processing, quality assurance, distribution, and product development,' the association said. Spice producer McCormick said in late June that tariffs could cost it as much as $90 million a year and that it was planning to raise some prices by the end of the year.
Yahoo
3 days ago
- Yahoo
Corient Snags $1.5B Dallas-Based Team from Raymond James
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. Corient, the rebranded U.S. wealth management business of CI Financial, announced Thursday the acquisition of Raymond James' firm Messick Peacock & Associates, a Dallas-based team managing $1.54 billion in total assets. The acquisition marks another plus-billion move for Miami-based Corient, which earlier this year acquired a $10.4 billion family office based in New York and, in late 2024, added a $7.9 billion Portland-based wealth manager and trust company. It also comes a few days after Corient's parent firm, CI Financial, officially closed a deal to be taken private by alternative asset manager Mubadala Capital after having previously been listed on the Toronto Stock Exchange. CI announced that $3.4 billion deal in November 2024. Raymond James' asset and wealth management investment banking team served as Messick Peacock's financial advisor in the deal. Messick Peacock was founded in 2015 by Chris Messick and David Peacock as a Raymond James advisory firm. Messick had been with Northwestern Mutual for over 28 years, and Peacock had been with that same firm for over 23 years, according to their LinkedIn profiles. According to its website, the firm has six other employees, including four advisors. 'As ultra-high and high-net-worth individuals, families and businesspeople, our clients have complex lives and financial situations,' Peacock said in a statement. 'Aligning with Corient allows us to broaden and enhance our offering to this discerning group, including those with the most sophisticated and multi-faceted requirements.' Corient, a fee-only wealth manager, has total assets of $197.1 billion, and primarily custodies with Schwab and Fidelity. Since entering the U.S. more than four years ago, it has grown to more than 260 partner firms and over 1,300 employees. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
