Latest news with #Vista
Axios
14 hours ago
- Business
- Axios
D.C. children's shop owner advocates for tariff exemption
As President Trump's tariffs on Chinese products cause prices to skyrocket on essential baby gear, the owner of a D.C.-based children's shop is trying to advocate for change. The big picture: The Trump administration is pushing for families to have more children, but the whiplash tariffs are making it harder for families to afford products integral to safely raising kids, such as strollers and car seats. And this comes at a time when many people are already worried about inflation. What they're saying: "These prices are not just impacting frivolous items. They're not just impacting toys," says Elizabeth Mahon, owner of Three Littles, a kids' shop near Union Market. "They're also impacting your necessities." Mahon has been spreading awareness about the impact of rising prices on families and publicly advocating for a tariff exemption on baby gear, joining members of Congress for a press conference on Capitol Hill last month. The latest: While both Trump and Treasury Secretary Scott Bessent said last month that the administration is considering exemptions for baby gear, there haven't been any additional updates. "Talks with China continue to ultimately sign a comprehensive trade deal that will finally level the playing field for American industries and workers," White House spokesperson Kush Desai told Axios in a statement, although Desai did not answer Axios' questions about whether there was an update on a tariff exemption. Driving the news: The Trump administration temporarily lowered its tariffs on China from 145% to 30% last month, which it will continue to carry out amid court battles over the tariffs' legality. All this back-and-forth has created scarcity in the baby market as people panic-buy items, while big companies like Walmart are simultaneously upping price tags to accommodate these tariffs, says Mahon. And some brands are pausing Chinese imports altogether. The result: "Prices are just through the roof," Mahon tells Axios. State of play: The majority of children's gear is manufactured in China: 97% of strollers and 87% of car seats are made there, per Babylist. It isn't as simple as just moving this production to the U.S., says Mahon. Many retailers already have long-time relationships with Chinese factories and sites that are equipped to handle all the safety guidelines and rigorous testing required in this industry. And baby gear companies like Evenflo, which produces more of its parts in the U.S. than other similar companies, don't have the capacity to meet the overwhelming American demand, says Mahon. Case in point: Stroller brand UPPAbaby has increased its prices due to tariffs, with the cost of its Vista stroller going from almost $900 to $1,200 — about a 33% jump. The intrigue: Mahon is seeing the secondhand resale market for baby gear get more expensive as people realize they can ask more for these items. Yes, but: It's unsafe to buy car seats or sleep gear like cribs or mattresses secondhand, says Mahon.
The Market Online
2 days ago
- Business
- The Market Online
New study could unlock Vista Gold's Mt Todd Projects' full potential
By Peter Kennedy Vista Gold Corp. (TSX:VGZ) is generating renewed interest in its Mt Todd gold project in Australia by completing a new feasibility study that will dramatically reduce the cost of development. (Source: Resource World Magazine Inc.) The new feasibility study (FS), which is expected to be released in July 2025, will be an update on an earlier FS completed in 2022, with material project costs updated in 2024, demonstrating strong economics for development of 50,000 tonnes per day, nominally 17.5 million tonnes per annum operation. The 2024 study pegged the development cost at over $1.0 billion, a target that deterred major gold industry players who might have been mulling a joint venture interest. In December 2024, Vista launched a new Mt Todd feasibility study that aims to increase the reserve grade to 1 g/t gold using a higher cut-off grade and reduce the initial capex by 60% to about $400 million while achieving annual gold production ranging from 150,000 to 200,000 ounces from throughput rate of 15,000 tonnes per day or 5.2 million tonnes annually. By using contract mining, third-party power generation, and construction practices commonly used in Australia, the company believes there is an opportunity to maintain high capital efficiency at this project scale. 'We believe the release of the 15,000 tpd feasibility study results will be well-timed in the current gold cycle and serve as a catalyst to accelerate value creation,'' said Vista Gold President and CEO Fred Earnest. 'Mt Todd has tremendous leverage to gold. If prices were to go higher, it would be a tremendous thing for shareholders.' Earnest has been CEO since 2012 and a senior officer at Vista since 2006. (Source: Resource World Magazine Inc.) Vista has previously said its 100% owned Mt Todd project is positioned to be one of Australia's largest and lowest cost new gold producers. Located in Northern Territory, about 250 kilometres southeast of Darwin, Mt Todd contains more than 7.8 million ounces of gold resources in the measured and indicated categories. The project is in an area that the company has described as one of the world's most attractive mining jurisdictions. Former owner/operator Pegasus Gold built an 8.0 million tonnes per year flotation carbon-in-leach plant to improve recoveries from the Batman Deposit that were achieved by a heap leach operation. The plant was commissioned in November 1996 but was shut down in mid-1997 when the price of gold fell below US$300 an ounce. Vista Gold acquired Mt Todd in 2006 through a series of contracts with Pegasus Gold Australia, the Jawoyn Aboriginal Association Corp. (JAAC), the Northern Territory Government (NGT). The JAAC are the freehold owners of the surface land in the area of the Mt Todd project. Completion of the new 15,000 tonne per day feasibility study is key to creating long term value for shareholders. It aims to demonstrate an achievable path for project development through a joint venture partnership. However, the company believes the project could be advanced on a stand-alone basis under the right market conditions. (Source: Resource World Magazine Inc.) Speaking in an interview from his Colorado office, Earnest said the Mt Todd project has a lot going for it, including existing infrastructure that he believes will reduce the development risk and shorten the production timeline. They include paved roads to the mine site, connection to the electric grid and a natural gas pipeline to the site. 'Mt Todd is a permitted, ready-to-build development opportunity in the current environment of a strong gold market and diminishing major deposit discoveries,'' Earnest said. However, he said the company has had to grapple with the fact that major industry players tend to choose projects that offer immediate cash flow. 'Presently this suggests that producers view operational risk as being easier to overcome than development risk,'' he explained. However, it is worth noting that ready-to-build projects like Mt Todd are positioned as valuable assets in an environment of decreasing major gold discoveries. Since 2020, there have been only five major discoveries with a total of 17 million ounces of gold, according to S&P Gold Market Intelligence, August 8, 2024. Recent discoveries are scarce and smaller in size with an average of 3.5 million ounces compared to the 5.5-million-ounce average from 2010 to 2019. As a result, Earnest takes the view that scarcity of new discoveries will drive greater focus on optimizing existing projects and acquiring advanced stage projects. Watching the situation closely will be Wheaton Precious Metals Corp. (WPM-TSX, WPM-NYSE) which agreed in December 2023, to spend $20 million to acquire a royalty interest in the Mt Todd project. Under the agreement, Wheaton pledged to acquire a royalty equal to 1.0% of gross revenue from the sale or disposition of minerals from the project, subject to certain adjustments. In return for the asset, Wheaton agreed to provide Vista with $20 million to advance Mt Todd and for general corporate purposes. The royalty is at a rate of 1.0% of gross revenue from the project if completion objectives for the project are achieved by April 1, 2028. Thereafter, the royalty shall increase annually at a rate of 0.13% to a maximum of 2.0%. Any annual increases after April 1, 2028 shall be reduced on a pro rata basis to the extent that Mt Todd has initiated operations but has yet to achieve agreed upon completion objectives. The Mt Todd project contains proven and probable reserves of 280.4 million tonnes with a grade of 0.77 g/t gold or 6.98 million ounces of gold. The measured and indicated resource stands at 299.1 million tonnes with a grade 0.82 g/t gold or 7.87 million ounces. That material is located in the Batman deposit, Heap Leach pad, and Quigley's deposit. Measured and indicated resources in the Batman Deposit currently stand at 7.36 million ounces of grade 0.82 g/t gold. The company has said it sees district-scale exploration potential on its 1,581 square kilometres of exploration licenses. It said prior drilling within the boundaries of its mining licenses identified four promising targets on the 24-kilometre Batman Driffield Trend with potential to add 1.8 million to 3.5 million gold ounces to the resource base. It is expected that the new feasibility study will be accompanied by a revised resource estimate that considers the higher cut-off grade. On May 28, 2025, the shares traded at US$1.22 on NYSE American in a 52-week range of US$1.30 and US$0.46. Resource World Magazine Inc. has prepared this editorial for general information purposes only and should not be considered a solicitation to buy or sell securities in the companies discussed herein. The information provided has been derived from sources believed to be reliable but cannot be guaranteed. This editorial does not take into account the readers investment criteria, investment expertise, financial condition, or financial goals of individual recipients and other concerns such as jurisdictional and/or legal restrictions that may exist for certain persons. Recipients should rely on their own due diligence and seek their own professional advice before investing. This is third-party provided content issued on behalf of Vista Gold Corp., please see full disclaimer here.
Chicago Tribune
5 days ago
- Sport
- Chicago Tribune
Afternoon Briefing: Developer secures financing for new Fulton Market tower
Good afternoon, Chicago. An investigation is underway after two people, including a 10-year-old girl, were fatally stabbed at a northwest suburban home last night, according to Streamwood police. Police said this morning that they identified Jalonie Jenkins, 25, as a suspect, and that he should be considered 'armed and dangerous.' His last known location was in Bensenville. Police said to call 911 if someone sees him and to not approach him. Here's what else is happening today. And remember, for the latest breaking news in Chicago, visit and sign up to get our alerts on all your devices. Subscribe to more newsletters | Asking Eric | Horoscopes | Puzzles & Games | Today in History DeVaughen Stringfellow was putting his tow truck away in a Grand Crossing parking lot yesterday evening when he saw a baby on the ground, near the tire of a nearby parked car. Then a little boy and a woman came around the corner of the car, he said. The woman was holding a third child and begging for help, he said. Read more here. More top news stories: A tower crane will soon appear at 370 N. Morgan St., the site of the old single-story Fox Deluxe Foods building, where New York-based Vista plans to complete by 2027 a 31-story, mixed-use residential tower with a total of 494 units, including nearly 100 affordable homes. Read more here. More top business stories: The Cubs took care of business as they needed to, completing a sweep of the nine-win Colorado Rockies yesterday to set up another series against the Reds after a dramatic three-game set last weekend in Cincinnati. Read more here. More top sports stories: Valerie June is as vivacious and compelling as her music. That much was evident during last night's set at Park West. Read more here. More top Eat. Watch. Do. stories: A federal judge today extended an order blocking the Trump administration's attempt to bar Harvard University from enrolling foreign students. U.S. District Judge Allison Burroughs extended the block she imposed last week with a temporary restraining order on the government action. Read more here. More top stories from around the world:
Chicago Tribune
5 days ago
- Business
- Chicago Tribune
Developer secures financing for new Fulton Market tower, a rare event amid economic anxiety
Developer Vista Property said Wednesday that the company is about to break ground on a massive apartment tower in the West Loop's Fulton Market, a rare event ever since soaring costs made many investors leery about supporting such projects. A tower crane will soon appear at 370 N. Morgan St., the site of the old single-story Fox Deluxe Foods building, where New York-based Vista plans to complete by 2027 a 31-story, mixed-use residential tower with a total of 494 units, including nearly 100 affordable homes. The building was green lit by the Chicago Plan Commission in 2023, but high interest rates and inflation delayed it and many other approved developments. Vista said it secured a $151 million construction loan from CIBC Bank USA and $22 million in private investment from global investor PGIM Real Estate. 'High interest rates increase the costs of putting deals together,' said Ron DeVries, senior managing director of Integra Realty Resources. 'But it's not surprising this is one of the first developments to go forward after the drought because everyone wants to be in the West Loop, and that's where the biggest rents are.' Fulton Market is a popular choice for affluent renters attracted to its restaurants, nightlife and easy access to downtown, making Vista's plan appealing, said Shaunak Tanna, executive director at PGIM Real Estate. 'The Chicago multifamily sector remains strong, with Fulton Market standing out as one of the city's most vibrant neighborhoods, attracting both residents and employers,' he said in a prepared statement. The development at 370 N. Morgan St. is the first phase of the three-tower, $448 million project approved by the Plan Commission in 2023. Vista also proposed building skyscrapers at 400 N. Morgan St. and 401 N. Morgan St. If completed, the development would be one of Chicago's largest recent apartment projects, adding up to 1,450 units. Designed by Antunovich Associates, 370 N. Morgan St., will include 45,000 square feet of amenities spread across several floors, a rooftop pool deck and co-working stations. A parking podium will offer 192 spaces, most with EV charging capabilities. The builders will also create a new landscaped plaza at the intersection of Kinzie and Morgan streets. 'Fulton Market is experiencing remarkable growth and we are witnessing an increasing demand for spaces that blend living, working, and recreational opportunities within the vibrant core of downtown Chicago,' said Ark Latt, partner and chief development officer at Vista Property, in a statement. About 10 major apartment developments were completed in Chicago last year, DeVries said, including Flora Apartments, a 34-story tower in Fulton Market with 368 units. But financing for these skyscrapers was mostly complete by 2022, just before inflation and other economic anxieties led the Federal Reserve to start hiking interest rates. Developers will complete several major apartment projects in Chicago this year, including Straits Row Apartments at 633 S. LaSalle St., and the 12-story Neveseno Apartments at 1717 S. Michigan Ave. Both are smaller-scale developments, each providing fewer than 150 units, and that made it easier for the developers to secure financing, DeVries said. The Federal Reserve began dropping interest rates last year as inflation cooled, but anxiety about the Trump administration's tariff policies, and the possibility of higher inflation, led Fed officials to hold off on any further cuts so far in 2025. A few significant apartment projects did score financing and get underway in 2024, most notably Related Midwest's two-tower 400 Lake Shore development in Streeterville. The company plans to complete phase one, the 858-foot-tall North Tower, by early 2027. 'We're hearing that there are a lot of banks that really want to provide construction loans,' DeVries said, but the private investors needed to complete financing for most projects still worry about overall costs and interest rates. 'That's been the challenge of late.'
Business Wire
6 days ago
- Business
- Business Wire
Acumatica to be Acquired by Vista Equity Partners
BELLEVUE, Wash.--(BUSINESS WIRE)-- Acumatica, a leading provider of cloud ERP solutions for small and mid-sized businesses, today announced it has signed a definitive agreement to be acquired by Vista Equity Partners ('Vista'), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. "With Vista's support and track record of growing software companies, we believe we're positioned to accelerate product development, deepen partner engagement and extend our impact." Acumatica's cloud-native Enterprise Resource Planning ('ERP') platform enables a range of mid-market organizations to digitally manage and automate mission-critical processes from core financial management to payroll and Customer Relationship Management ('CRM') in a single, unified system. Built on an open, flexible architecture, the platform delivers AI-driven real-time visibility across the business, enabling users to make faster and more strategic business decisions. Acumatica offers industry-specific functionality tailored to complex sectors, including manufacturing, distribution, construction, retail and professional services. 'Our partnership with Vista not only marks a significant milestone in Acumatica's history but also is a strong endorsement of the real-world value we deliver to the market and our customers,' said John Case, CEO of Acumatica. 'Vista's investment can help power our AI-first product strategy and further strengthen our thriving Community of partners, developers and customers, working together to find better ways to work and redefine business management software for everyone. With Vista's support and track record of growing software companies, we believe we're positioned to accelerate product development, deepen partner engagement and extend our impact.' 'Acumatica is an ascendant, cloud-native ERP platform that has become a leading provider of mission-critical tools that enable small and mid-sized businesses to run more efficiently and effectively,' said Monti Saroya, co-head of Vista's Flagship Fund and senior managing director. 'With its industry-leading, strong partner ecosystem and growing presence in markets embracing cloud-based business technology, we believe Acumatica is well-positioned to lead the shift toward modern, integrated ERP solutions.' 'Acumatica has established a strong market position with differentiated, flexible and industry-specific ERP solutions as well as a uniquely dedicated channel of value-added resellers,' said John Stalder, managing director at Vista. 'We're excited to partner with Acumatica and its outstanding community of partners to drive continued growth and product innovation and to deliver even greater value to customers worldwide.' Vista will acquire Acumatica from EQT, which will no longer be an investor in the company. Terms of the transaction were not disclosed. Moelis & Company served as financial advisor to Acumatica. Simpson Thacher & Bartlett LLP acted as legal counsel to Acumatica, and Greenberg Traurig LLP served as legal counsel to Vista. About Acumatica Acumatica Cloud ERP is a comprehensive business management solution that was born in the cloud and built for more connected, collaborative ways of working. Designed explicitly to enable small and mid-market companies to thrive in today's digital economy, Acumatica's flexible solution, customer-friendly business practices and industry-specific functionality help growing businesses adapt to fast-moving markets and take control of their future. For more information, visit or follow us on LinkedIn. About Vista Equity Partners Vista is a global technology investor that specializes in enterprise software. Vista's private market strategies seek to deliver differentiated returns through a proprietary and systematic approach to value creation developed and refined over the course of 25 years and 600+ transactions. Today, Vista manages a diversified portfolio of software companies that provide mission-critical solutions to millions of customers around the world. As of December 31, 2024, Vista had more than $100 billion in assets under management. Further information is available at Follow Vista on LinkedIn, @ Vista Equity Partners, and on X, @ Vista_Equity.
