Latest news with #BaseExchange
Yahoo
13 hours ago
- Business
- Yahoo
Brazil's new Rio stock exchange to start operations later than expected
RIO DE JANEIRO (Reuters) -A Rio de Janeiro-based stock exchange is expected to begin operations by the end of April 2026, the executive leading the project said on Monday, a delay from initial projections. The new bourse, called Base Exchange and controlled by Abu Dhabi's Mubadala, could shift Brazil's financial landscape, as Sao Paulo-based stock exchange B3 currently reigns in the Brazilian market. Claudio Pracownik, CEO at Rio de Janeiro's Base Exchange, told Reuters the revised timeline reflects regulatory processes. Previously, operations were expected to start this year. Tests for the new exchange have been conducted at the Brazilian securities watchdog CVM, while simulations at the central bank are expected to take place by August, according to Pracownik, who expects to receive the necessary regulatory authorizations by the end of the year. Base hopes to compete with B3 by using different technology and operating at lower cost, he said. "We are proposing to do better, faster and cheaper." B3 did not immediately respond to a request for comment. Pracownik said he has already spoken with representatives of the main companies whose shares trade on B3, and that they showed interest in also trading their shares on the Rio de Janeiro exchange. "These companies have nothing to lose. Petrobras, Vale, Banco do Brasil and others expressed interest in trading," said Pracownik. Banco do Brasil and Petrobras did not immediately respond to requests for comment. Vale declined to comment. The new exchange, which would initially trade assets such as equities, intends to launch new products every eight to nine months, including derivatives and options, to be able to compete with B3, Pracownik added.
Yahoo
19-04-2025
- Business
- Yahoo
Cheyenne high school senior opens boutique at Frontier Mall
CHEYENNE — When she was 14, Kacee Lillie began designing clothes with a Cricut vinyl cutter and selling them out of her home in Minnesota. This soon expanded to creating earrings and then to selling her goods at craft and vendor shows. Now 18, Lillie has opened her first public, physical location of the Kacee Lillie Boutique at Frontier Mall in Cheyenne — three months before graduating high school. 'It's definitely a lot bigger now, but it's not as big as I want it to be,' Lillie said of her business's footprint. 'So, there's definitely room to grow.' Before opening in the mall, Lillie operated a boutique space in a 200-square-foot section of the Base Exchange on F.E. Warren Air Force Base between December and January. In February, Lillie moved to her new 1,200-square-foot location in Frontier Mall in the space formerly occupied by Francesca's. Kacee Lillie Kacee Lillie Boutique is photographed inside Frontier Mall on Thursday in Cheyenne. The boutique primarily features women's clothing — something that wasn't as popular on the Air Force base — as well as fashion accessories and art. She said only around five people visited the shop at F.E. Warren each day, but now that number is closer to 50 or 70. Lillie said she hopes to expand options at the store to include more items for men and children, as well. However, Lillie is unsure how much and to what extent she will be able to grow her new boutique with question marks around what the reciprocal tariffs imposed by President Donald Trump on nations like China will look like. Lillie imports many of the clothes in the store from overseas. 'It hasn't impacted us yet,' Lillie said. 'We're just more hesitant to get any of the inventory that we were before, because a lot of it comes from overseas. The tariffs are looking like they're going to be 80% to 140%. ... I'm not a professional at it, but it's looking like it's going to double the cost to get it in (the store), which will double the cost for (customers) to get it.' On Tuesday, the White House released a fact sheet saying the tariffs imposed on Chinese imports could grow to 245%. 'China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions,' the fact sheet said. 'This includes a 125% reciprocal tariff, a 20% tariff to address the fentanyl crisis, and Section 301 tariffs on specific goods, between 7.5% and 100%.' Gusto, Inc. is a company that provides payroll, benefits and human resource management software for businesses. It released a resource article last week for small business owners. It said the cost of imported goods will increase, supply chains may be affected, which may result in delays, and small business owners may feel pressure to increase prices for customers, which may affect relationships and patronage. Lillie said she prides herself on developing personal relationships with some of her customers, knowing them by name and getting into conversations with them when they visit her store — something she said is less common at large multi-national corporate stores. To prepare for some of the anticipated spike in prices, Lillie said she has turned to more local vendors to supply goods for her store, including locally made mugs, cuticle oils and art. In addition to the financial risks Lillie has taken to realize her dream of opening a boutique, she has sacrificed the traditional high school experience to pursue her business. She moved to Cheyenne at age 17, when her mother was stationed at F.E. Warren. She did one semester at Cheyenne's East High School before switching to virtual schooling so she could work part time on running her business and learning about business and part time working a job on the side to save up money to open the store. 'It's definitely hard finding people who understand,' she said. 'I started this when I was 14, so I went through all of high school with everyone wanting to party and saying 'let's go hang out.' I can't, I have to work. 'Well, just call out,' they'd say. Who am I going to call out to?' After she graduates, Lillie said she'd like to spend more time focusing on marketing and growing her business and potentially take some college courses in business and marketing. Lillie gained most of her business knowledge through real world experience and hours of reading and watching videos. She said some of her high school business class assignments on how to start a business could take only two or three days. However, her real-world research would take two or three months to grasp a firm understanding of each step, she said. While business has been slow the past few months, Lillie said she anticipates it will pick up during the summer, and she hopes more people will choose to shop locally instead of at a national chain store. Lillie hopes to continue to grow her business, but said she wants to keep her expectations realistic and take it one step at a time. 'I feel like if you put too much ambition into the world, you're going to be disappointed,' she said. 'So, I'd love for it to get bigger, like anything, but if it stays in one store, it stays one store, nice and cute. All I can hope is that it's profitable and not just a money pit.'
Zawya
18-03-2025
- Business
- Zawya
Abu Dhabi's Mubadala seeks up to 10 partners for Rio de Janeiro stock exchange, sources say
SAO PAULO - Mubadala Investment Co, Abu Dhabi's sovereign wealth fund, is in talks with global banks and market makers to form a consortium with up to ten partners providing liquidity for a new stock exchange in Rio de Janeiro, two people familiar with the matter said. In return, those partners would receive equity that would modestly dilute Mubadala's current 73% stake in the planned bourse, to be called the Base Exchange, the sources said, noting that the fund would remain as the controlling investor. Mubadala did not immediately respond to a request for comment. The sovereign wealth fund has been working with independent advisory firm Olimpia Partners for several months to structure the deal, although no contract has been signed yet, the sources said, adding that ideally the consortium would be formed of six to ten members. Olimpia declined to comment. The new exchange, which would be the country's second once operational, expects regulatory approval by year-end before launching in early 2026 to challenge the dominance of São Paulo-based B3. The planned bourse has received backing from Rio Mayor Eduardo Paes, who has signed a law reducing the service tax on stock exchange activities from 5% to 2%.
