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☆ Druckenmiller says he bought five Argentinian stocks, praises Javier Milei's policies
▼ + stars: | 2024-05-07 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

"The only free market leader in the world right now, bizarrely, is in Argentina of all places," Druckenmiller said. Milei took office in December, promising economic reforms after Argentina was hit hard by inflation. I bought all of them, we did some work on them, I increased my positions," Druckenmiller said. ARGT 1D mountain The Global X MSCI Argentina ETF rose on Tuesday morning. The Global X MSCI Argentina ETF (ARGT) , which includes many of the stocks listed above, rose more than 1% in premarket trading Tuesday.

Persons: Stanley Druckenmiller, Druckenmiller, Javier Milei, Milei, Soros, Duquesne, it's Organizations: Economic, Duquesne Family, Grupo, Arcos, Banco BBVA Argentina, Mercadolibre, Grupo Financiero Galicia, Banco Locations: Argentina, Davos, U.S, Americas

☆ Lightning Round: SoundHound is losing money, it's no good for me, says Jim Cramer
▼ + stars: | 2024-05-02 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: SoundHound is losing money, it's no good for me, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: OneMain Holdings, SoundHound AI, Cracker Barrel, Grupo Financiero, General Motors, and more.

Persons: SoundHound, Jim Cramer Organizations: OneMain Holdings, Financiero, General Motors

Where the border wall stops, smugglers see opportunity. Evelio Contreras/CNNBut now there are patrols from the Mexican Army and National Guard along with immigration officers, looking to stop the migrants from reaching the US. Tents at the border wall become temporary homes for those sent to patrol then land around Ejido Jacumé. These people were stopped before they reached the Mexico-US border, officials said. CNN witnessed the detention of mostly men, with some women and children, from Brazil and Guatemala this week, near one of the border wall gaps close to Ejido Jacumé.

Persons: Ejido, Evelio Contreras, David Pérez Tejada, ”, –, he’d, ” Pérez Tejada, Spikes, Pérez Tejada, “, Joe Biden, Andres Manuel Lopez Obrador, John Kirby, Antony Blinken, Liz Sherwood, Randall, Alejandro Majorkas Organizations: Mexico CNN, Border Patrol, CNN, Mexican Army, National Guard, Mexico’s Migration National Institute, Local, Customs, Border Protection, Spikes, ”, National Security, House Homeland, Homeland, Grupo Beta Locations: Baja California, Mexico, United States, San Diego, Ejido, Tijuana, California, Brazil, Guatemala, Mexican, Washington, Mexico City

☆ HSBC to sell Argentina business in $550 million deal
▼ + stars: | 2024-04-09 | by ( Diksha Madhok | ) edition.cnn.com time to read: +1 min

CNN —HSBC has agreed to sell its business in Argentina to Grupo Financiero Galicia, the largest private financial group in the country, for $550 million, the UK-based bank said on Tuesday. The sale is expected to lead to a $1 billion pre-tax loss for HSBC in the first quarter of this year, the statement added. “HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network,” Quinn said, adding that the unit “generates substantial earnings volatility” for the bank. “Galicia is better placed to invest in and grow the business,” he said. The bank, Europe’s biggest by market value, reported a big drop in quarterly profit in February, partly because of its exposure to China’s troubled real estate industry.

Persons: Noel Quinn, ” Quinn, ” Organizations: CNN, HSBC, Grupo Financiero, “ HSBC Locations: Argentina, Grupo Financiero Galicia, Asia, United States, France, “ HSBC Argentina, “ Galicia, China

☆ Labor coalition accuses Starbucks of 'flawed' union strategy, risking shareholder value
▼ + stars: | 2024-02-20 | by ( Kate Rogers | ) www.cnbc.com time to read: +8 min

The coalition is pushing to replace three current Starbucks board members with its own nominees. The SOC proxy presentation claims the company's board has backed what it calls an "unnecessarily confrontational" strategy with the union. Starbucks said it has not only a new CEO, but with these additions, it has added five new board members in the past year. The proxy presentation targets three current Starbucks board members: Ritch Allison, Andy Campion and Jørgen Vig Knudstorp. Allison, Campion and Knudstorp, specifically, provide "continuity and highly-valuable unique perspectives," the Starbucks presentation said.

Persons: Baristas, Nielsen, Maria Echaveste, Joshua Gotbaum, Wilma Liebman, Daniel Servitje, Neal Mohan, Mike Sievert, Ritch Allison, Andy Campion, Jørgen Vig Knudstorp, Allison, Campion, Knudstorp, Wendy's, Narasimhan Organizations: Starbucks, CNBC, Organizing Center, U.S . Securities, Exchange Commission, National Labor Relations Board, NLRB, Starbucks Corporation, Siren Retail, Service Employees International Union, Starbucks Workers United, Communications Workers of America, United Farm Workers of America, Chipotle, Darden, Restaurant Brands, Yum Brands, White House, Hawaiian Airlines, White, Grupo Bimbo, YouTube, Mobile, SEC Locations: Buffalo, Arlington , Virginia, China, U.S

☆ Mexico Reaches Deal to Buy Highway Concession From Billionaire Slim
▼ + stars: | 2024-02-05 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

MONTERREY, Mexico (Reuters) - Mexican President Andres Manuel Lopez Obrador announced that his government has reached an agreement with local billionaire Carlos Slim to buy the concession to part of a highway still under construction in the southern state of Oaxaca. He sits on the board of directors of Ideal, which is wrapping up construction on the branch of the highway running from the towns of Mitla to Tehuantepec. The highway track, part of a larger stretch running all the way to the city of Oaxaca, will be inaugurated on Aug. 31, Lopez Obrador said. The president, who will leave office later this year, has made infrastructure projects in the historically poorer southern part of Mexico a cornerstone of his administration. (Reporting by Kylie Madry in Mexico City and Laura Gottesdiener in Monterrey; Editing by Paul Simao)

Persons: Andres Manuel Lopez Obrador, Carlos Slim, Lopez Obrador, Slim, Kylie Madry, Laura Gottesdiener, Paul Simao Organizations: America, Grupo Carso, Ideal Locations: MONTERREY, Mexico, Oaxaca, Mitla, Tehuantepec ., Mexico City, Monterrey

MEXICO CITY (AP) — Regional Mexican music — a catchall term that encompasses mariachi, banda, corridos, norteño, sierreño and other genres — has become a global phenomenon, topping music charts and reaching new audiences as it crosses borders. Overall, regional Mexican music grew 60% in the U.S., accounting for a whopping 21.9 billion on-demand audio streams. On Spotify, Mexican music grew 400% worldwide over the last five years, according to Uriel Waizel, lead editor at Spotify Mexico. And I think that is exciting.”Waizel says that while Mexican music is centuries old, “current Mexican music is breaking because it is the music that young people listen to." Actor and singer Lucero, a veteran performer of regional Mexican music, also remembers those days.

Persons: Selena Quintanilla, Eslabon, Pluma’s “ Ella Baila Sola, ”, Eslabon Armado, Junior, Leila Cobo, Billboard’s, Uriel Waizel, Pluma, Taylor Swift, ” Cobo, Waizel, Édgar Barrera, Drake, Barrera, Carín León, Maluma, Don Juan, León, ” Maluma, Pedro Tovar, wasn't, Juan Gabriel, Vicente Fernández's, “, ’ ”, Gabriel Abaroa Jr, Lucero, Becky G, couldn't, it’s, I’m, ” ___ Sherman Organizations: MEXICO CITY, — Regional, Spotify, Grupo Frontera, U.S ., Fuerza Regida, Associated Press, Cobo, Spotify Mexico, YouTube, Fuerza, Premios Juventud, AP, Latin Recording Academy, Mexicans Locations: MEXICO, Mexican, “, U.S, Mexico, Frontera, Puerto Rico, ’, Mexican American, Los Angeles

☆ A sports drinks turf war could determine whether beverage stocks bounce back in 2024
▼ + stars: | 2024-01-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

The rise of Prime comes at a time when key beverage stocks are struggling for traction. PEP 1Y mountain Shares of Pepsico have fallen over the past 12 months, along with its two main peers. Pepsi, for instance, is pushing newer versions of Gatorade with Gatorade Zero, G-Fit and Gatorlyte, as well as the Fast Twitch energy drink. Where to invest The exact impact of sports drinks on beverage stocks can be hard to determine. The big three companies do not break out the financials for their sports drink brands individually, and any impact could be outweighed by other categories, like Pepsi's snack foods.

Persons: Ramon Laguarta, —, Logan Paul —, Laguarta, Dr Pepper, Lauren Lieberman, Lieberman, There's, Z'ers, Gerald Pascarelli, Pascarelli, Keurig Dr Pepper, Electrolit Organizations: Pepsico, YouTube, Pepsi, Gatorade, Coca, PEP, Barclays, Holdings, CNBC, Nielsen, Grupo PiSA, Keurig Locations: United States, Mexican, Electrolit, LSEG

Milei's dollar plans, however, put pressure on the embattled peso currency, which is held in check by strict capital controls. The official exchange rate is near 350 per dollar, but dollars trade well over twice that in popular parallel markets. Milei said in the run-up to the election he wanted to ditch the peso altogether in favour of the dollar. Milei had also heavily criticised China and Brazil in the runup to the elections, two of Argentina's main trading partners. China said on Tuesday it would be a "serious mistake" if Milei opted to cut ties between the two countries.

Persons: dollarization, Javier Milei, Miel, Milei, Morgan Stanley's, Viktor Szabo, Banks, Banks Grupo Supervielle, Marc Jones, Elizabeth Howcroft, Mayur Kamdar, Karin Strohecker, Bernadette Baum, Emelia Organizations: Argentina, Abrdn, U.S ., Banks Grupo, Banco, Banco BBVA Argentina, Grupo Financiero, Thomson Locations: BUENOS AIRES, MERV, London, Argentina, U.S, Grupo Financiero Galicia, China, Brazil

It is the ideal way to celebrate the musician and civil rights activist, and the ideal gift for a music fan of any walk. Cost: $135SAY CHEESE: This one might give an audiophile a heart attack, but that doesn't make it any less adorable. The “Turntable Cheese Board" from Uncommon Goods is exactly what it sounds like — a cheese board designed to look like the most expensive, slick turntable, featuring a slate platter and hidden slicer in the one arm. Cost: $78HEAR IT LOUD: There's never a wrong time to upgrade headphones — in fact, it makes for a great gift. Cost: $47K-POP COOL: Far too often, holiday gift guides — even those specifically catering to music enthusiasts — fail to account for dedicated, artist-specific fandoms.

Persons: It'll, SIMONE, Nina Simone, Simon, Marc Masters, Harry Styles, Styles, ”, “, It's, Sony's, Barbra Streisand, ” She'd, Jimmy Fallon, Jacqueline Kennedy Onassis, Streisand, ” Streisand, I’m, Lol Tolhurst, Tim Burton, Edgar Allan Poe’s, Mary, Emily Brontë, Questlove, Tariq Trotter, a.k.a Organizations: ANGELES, Philips, Doubleday, Associated Press, Division, Bauhaus, Los Tigres Del, Grupo Frontera Locations: They're, longhand, Austin , Texas, Los Angeles, Los Tigres Del Norte, Banda

☆ Argentina oil company YPF spikes 40% as investors cheer president-elect Milei's promises to revamp the economy
▼ + stars: | 2023-11-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Shares of state-oil firm YPF soared 40% on Monday after Javier Milei's presidential victory. Milei has promised to revamp the Argentine economy, and also said he would seek to privatize YPF. Milei won the Argentine presidential election Sunday against Economy Minister Sergio Massa. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementArgentine state energy company YPF saw its New York-listed shares spike more than 40% on Monday, following Javier Milei's presidential election victory on Sunday.

Persons: Javier Milei's, Milei, Sergio Massa, —, Spain's Repsol, YPF Organizations: Argentine, Economy, Service, Reuters, Grupo Financiero Galicia, Banco Locations: Argentine, YPF, York, Spain's, Argentina, New York

☆ Can Argentina really move from the peso to the dollar?
▼ + stars: | 2023-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

2 economy and ditch its peso currency in favor of the US dollar. Milei must tackle inflation above 140%, a shortfall in foreign currency reserves and the prospect of another painful recession. Argentina’s financial markets are closed Monday for a local holiday, but the peso weakened slightly in partial trade to stand at around 353.58 to the US dollar. Bruno Gennari, Argentina expert at fixed income broker dealer KNG Securities, said the peso was trading at $1,009 versus the dollar on crypto exchanges Monday, considerably weaker than the $869 and $975 rates seen on Friday. Dollarization means Argentina would give up the peso and use the US dollar as its currency, effectively wresting control of monetary policy from the country’s central bank and handing it to the US Federal Reserve.

Persons: London CNN — Javier Milei, Sergio Massa, Milei, ” —, —, ” Milei, ”, “, Bruno Gennari, Javier Milei, Natacha, dollarization, ” William Jackson, “ It’s, Thierry Larose, ” Larose, Kristalina Georgieva, Jackson, — Valentina Gonzalez, Stefano Pozzebon, Olesya Dmitracova Organizations: London CNN, Libertad Avanza, Peronist, “, ” Financial, Argentine, State, Banco, Grupo Financiero Galicia, KNG Securities, US Federal Reserve, AP, Capital Economics, Vontobel, Management, CNN, Monetary Fund, Bank, IMF, Reuters Locations: Argentina, New York, Brazil, Mexico, Dollarization, Argentina’s, Zurich, dollarization, Washington, DC, Argentine

☆ Argentine ETF trading surges after election, led by small investors
▼ + stars: | 2023-11-20 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

The Global X MSCI Argentina ETF , which offers exposure to a basket of the country's most liquid stocks, soared more than 13% on Monday and hit its highest level since September. While the South American country's markets are closed on Monday for a local holiday, U.S.-listed shares of Argentinian companies also surged in U.S. trading. The gains for the ETF came through large amounts of small trades, Todd Sohn, an ETF analyst at Strategas in New York, said. By mid-morning, the value of trading in the ETF had topped $11 million, compared with average of about $1 million a day throughout 2023. "These small country funds are ideal vehicles for small day traders who jump on events" like Sunday's presidential election in Argentina, Sohn said.

Persons: Agustin Marcarian, Argentina's Javier Milei, Todd Sohn, Sohn, Suzanne McGee, Megan Davies, Andrew Heavens Organizations: REUTERS, Argentina ETF, Management, Inc, U.S, Banco, Grupo Financiero, Thomson Locations: Buenos Aires, Argentina, American, New York, ARGT, Grupo Financiero Galicia

☆ International backlash grows after move to strip Guatemalan president-elect's immunity
▼ + stars: | 2023-11-19 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +2 min

Guatemala's President-elect Bernardo Arevalo stands on the Square of Human Rights outside the Supreme Court, in Guatemala City, Guatemala November 16, 2023. REUTERS/Cristina Chiquin/file photo Acquire Licensing RightsNov 18 (Reuters) - International rebuke swelled on Saturday over what observers say are efforts to use a politicized justice system to keep Guatemalan President-elect Bernardo Arevalo out of office. A prosecutor at Guatemala's attorney general's office on Thursday moved to strip Arevalo of his immunity from prosecution, accusing him and his running mate of complicity in the takeover of a university in the capital last year. In a statement on Saturday, the Inter-American Commission on Human Rights and its Office of the Special Rapporteur for Freedom of Expression, condemned the attorney general's office's "incessant improper actions and interference." Earlier Saturday, senior U.S. Department of State official Brian Nichols condemned the attorney general's office's "malign request" to strip Arevalo and his Vice President-elect Karin Herrera of immunity in a post on social media.

Persons: Bernardo Arevalo, Cristina Chiquin, Arevalo, general's office's, Brian Nichols, Karin Herrera, Herrera, Guatemalans, General Consuela Porras, Brendan O'Boyle, Chizu Organizations: Human, REUTERS, Guatemalan, Inter, American, Human Rights, U.S . Department of State, Democratic Initiative of Spain, Americas, Grupo IDEA, U.S, Movement, Thomson Locations: Guatemala City, Guatemala, Latin America, Spain

SEVILLE, Spain (AP) — Karol G, Bizzarap, Shakira and Natalia Lafourcade, won big at the Latin Grammy Awards held Thursday. Karol G’s “Mañana será bonito” was crowned best album of the year and best urban music album. Argentine producer Bizarrap took home the awards for song of the year and best pop song for “Shakira: Bzrp Music Sessions, Vol. That award came for the composition “un X100to”, the collaboration between his protégés, Grupo Frontera, and the superstar Bad Bunny. Relocating the show to Seville for the first time meant that flamenco was present throughout the entire night.

Persons: — Karol G, Bizzarap, Shakira, Natalia Lafourcade, Karol G’s “, bonito ”, Bizarrap, “ Shakira, Sasha, Edgar Barrera, Bad Bunny, Rosalía, Rocío Jurado, Andrea Bocelli, “ Granada, ”, Mexican Agustín Lara, Alejandro Sanz Organizations: Grupo Frontera Locations: SEVILLE, Spain, Argentine, Colombian, Seville, Milan, Mexican

☆ Mexican lawmakers OK stock market reform bill
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Nov 15 (Reuters) - Mexico's lower house on Wednesday passed a bill aimed at revamping national stock exchanges, a long-awaited move meant to boost trading following a spate of delistings from the main market in recent years. The bill loosens regulations for companies to go public, speeding up the process and reducing the costs involved, said Mexico's largest market operator, the Bolsa Mexicana de Valores, in a statement. The bill had previously passed in the Senate, and will now be sent to President Andres Manuel Lopez Obrador's desk to be signed into law. Just 138 companies are listed on the Bolsa Mexicana de Valores, which has gone six years without a new listing, barring spin-offs. Reporting by Kylie Madry and Diego Ore; Editing by Anthony Esposito and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Gabriel Yorio, Andres Manuel Lopez, Lala, Kylie Madry, Diego Ore, Anthony Esposito, Stephen Coates Organizations: MEXICO CITY, Bolsa Mexicana de, Senate, Grupo Sanborns, Thomson Locations: MEXICO, Bolsa Mexicana de Valores

He's worked with everyone from Madonna and Shakira to Peso Pluma and Karol G. He has one Grammy and 18 Latin Grammys already to his name, and is the top nominee at Thursday's 2023 Latin Grammys ceremony. Unlike most of his contemporaries dominating the music industry, though, Barrera is a producer and songwriter first, recently receiving a songwriter of the year nod for the Grammys in February. He’s also nominated in the brand-new songwriter of the year category of the Latin Grammys, and says he’s proud to be recognized alongside his collaborators and mentors. “Un x100to” is one of the few regional Mexican music songs that have managed to reach the song of the year category at this year's Latin Grammys. He wondered how Marshmello would translate to the genre, but Barrera was pleasantly surprised with the American DJ and producer's interest in Latin music.

Persons: — Édgar Barrera, He's, Madonna, Shakira, Karol G, Barrera, “, ”, Maluma, Marc Anthony, Camilo, Alejandro Sanz, He’s, Barrera —, —, Puerto Rican reggaetonero, ” Barrera, Miguel, Camila Cabello, Manuel Turizo, ‘, ’ ” Barrera, it's Organizations: MEXICO CITY, Pluma, Associated Press, NASA, Grupo Frontera, Puerto Rican, Mexico City’s, American DJ Locations: MEXICO, Spanish, Miami, Seville, Spain, Mexican, Texas, Tamaulipas, McAllen , Texas, Miguel Alemán, “, American

“Barbie World” by Nicki Minaj and Ice Spice will compete for best rap song. Tracks from the soundtrack also hog up four of the five available slots in best song written for visual media. Peso Pluma’s 2023 album, “Génesis,” is just tucked among the nominees for música mexicana. But música urbana — encompassing reggaeton, Latin hip-hop, dembow, Latin trap and more — is a crowded, competitive, hugely popular format. His 2023 album, “Seven Psalms,” plays as a thoughtful, complex, tuneful farewell, anticipating his death.

Persons: Greta Gerwig, ”, Billie Eilish’s, “, Nicki Minaj, Edgar Barrera, Eslabon, Natanael Cano —, Tainy, Rauw Alejandro, Karol G, JON PARELES Olivia Rodrigo, Olivia Rodrigo’s “, Rodrigo, Daniel Nigro, Mick Jagger, CARYN GANZ, Paul Simon, it’s Paul Simon, It’s, Simon, Garfunkel, Joni Mitchell, Steely Dan, Bob Dylan, Tony Bennett, PARELES Organizations: Spice, Pluma, música, Grupo Frontera, Grupo Firme, Foo Fighters, Queens Locations: Mexican American, Americas, Mexican, música mexicana, urbana, Colombian, Será, Spanish, Newport

Aldean and Anthony's dominance wasn't long — and Combs did earn a 2024 Grammy nomination for best country solo performance — but Wallen stands out as an obvious exclusion. While “Last Night” is nominated for best country song, a songwriter's award, Wallen himself isn't despite his successful year. Monét has also picked up record of the year and best R&B song nominations for her glossy, brassy “On My Mama,” best R&B performance and best traditional R&B performance. Her 2023 release, “Jaguar ll,” is up for best R&B album and best engineered album, non-classical. IT'S RAINING WOMEN, HALLEJUAHThe best story of the 2024 Grammy nominations, of course, is just how many women are represented in the major categories.

Persons: “ Barbie, Reneé Rapp, Rapp's, ”, Rapp, PinkPantheress, Eslabon, Ella Baila Sola, Bunny, Natanael Cano, Karol G's, Jason Aldean's “, Morgan Wallen's “, Luke Combs, Tracy Chapman's, Oliver Anthony Music's, Combs, Wallen, isn't, he's, NewJeans, Barbie, PRINCE HARRY, Michelle Williams, Britney Spears, Prince Harry, Meryl Streep, William Shatner, Rick Rubin, Sen, Bernie Sanders, Michelle Obama, WHO'S, There's, Travis Scott's, Scott, Cole’s, Uzi Vert’s “, Victoria Monét's, Monét, Ariana Grande’s, Chloe x Halle, she’s, Taylor Swift, Billie Eilish, Miley Cyrus, Olivia Rodrigo, Jon Batiste Organizations: ANGELES, música Mexicana, Grupo Frontera, Fuerza, North Locations: Será Bonito, ”, Richmond

☆ Fight, flight, or urine: 6 ways people have tried to keep orcas from destroying their boats
▼ + stars: | 2023-11-08 | by ( Maiya Focht | Jenny Mcgrath | ) www.businessinsider.com time to read: +7 min

From fog horns to bottles of urine, sailors are trying some wild ways to save their yachts. This latest sinking adds to the hundreds of incidents of orcas interacting with, damaging, and sometimes sinking boats over the last three years. Pouring gasoline or diesel fluid and urine into the water had no effect, according to the few sailors who tried it. Dumping a black water tank filled with a "bleach solution" seemed to provoke the orcas into ramming the boat more, according to one account. Serge MELESAN / 500px / Getty ImagesIf orcas damage your boat, the GTOA recommends calling the authorities.

Persons: orcas, It's, Chase Dekker, that's, Enrique Marcarian, GTOA, Lisa Schaetzle, Alessandro De Maddalena, Orcas, John Burbeck, Arturo de Frias, Alfredo López, it's, Serge MELESAN, Hanne Strager Organizations: Service, Cruising Association, Grupo, Orca Behavior, Reuters, CA, Washington Post, Cruisers Locations: Strait, Gibraltar, Spain, Morocco, Alaska

☆ Mubadala raises stake in Brazilian ethanol producer Atvos
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Oct 20 (Reuters) - Abu Dhabi state investor Mubadala Capital raised its stake in Brazilian ethanol producer Atvos, the latter said on Friday. Mubadala, through investment fund FIP MC Green, acquired the stake owned by Grupo Novonor, formerly known as Odebrecht, in the holding company that controls Atvos, representing about 6.85% of the firm's equity. Mubadala already had a direct stake of 31.5% in Atvos. In a statement, the sugarcane ethanol producer said it also aims to enter new markets, such as corn ethanol; biomethane from vinasse and sugarcane straw, in addition to producing sustainable aviation fuel. Reporting by Peter Frontini; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Atvos, Green, Mubadala, Peter Frontini, Leslie Adler Organizations: SAO PAULO, Mubadala, FIP, Grupo Novonor, Thomson Locations: Abu Dhabi, Atvos, vinasse

☆ French retailer Casino agrees initial deal to sell stake in Exito Group
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

A logo of French retailerÊCasinoÊis pictured outside aÊCasinoÊsupermarket in Nantes, France, July 27, 2023. REUTERS/Stephane Mahe/File Photo Acquire Licensing RightsPARIS, Oct 16 (Reuters) - Indebted French supermarket chain Casino (CASP.PA) said on Monday it had agreed an initial deal to sell its stake in Latin American retailer Almacenes Exito (IMI.CN) to Grupo Calleja. Casino's board on Friday approved a pre-agreement to sell its entire stake in Almacenes Exito to Grupo Calleja, a leading grocery retailer in El Salvador, it said. Casino is in the midst of a restructuring after years of debt-fuelled acquisitions had brought it to the verge of default. The price per share may be reduced by extraordinary dividend distributions, asset transfers or similar transactions made by Exito, Casino added in a statement.

Persons: Stephane Mahe, Almacenes, Exito, Sudip Kar, Olivier Sorgho, Jacqueline Wong, Lincoln Organizations: REUTERS, Rights, Grupo Calleja, Casino, Thomson Locations: aÊCasinoÊsupermarket, Nantes, France, El Salvador, Almacenes

☆ Mexico blames Grupo Mexico for 2014 toxic spill, wants new cleanup plan
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Grupo Mexico failed to remediate the river's water and soil and did not provide the funds to carry out proper works for the environmental recovery of the area, according to Albores. The company needed to provide an initial 2 billion pesos ($111.86 million), of which it only provided half, she said. The possible fine for the spill was set at up to 40 million pesos, worth about $3 million then. Grupo Mexico did not immediately reply to a request for comment on the causes of the spill and the government complaint. Shares in Grupo Mexico were down 2.3% after Albores' comments on Thursday.

Persons: Maria Luisa Albores, Albores, Ana Isabel Martinez, Valentine Hilaire, Brendan O'Boyle, Marguerita Choy Organizations: Grupo, MEXICO CITY, Grupo Mexico, Thomson Locations: Grupo Mexico, Mexico City, Mexico, MEXICO, Mexico's, Sonora

☆ Mexico Govt Files Complaint Against Grupo Mexico Over 2014 Spill -Minister
▼ + stars: | 2023-10-12 | by ( Oct. | At P.M. | ) www.usnews.com time to read: 1 min

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☆ We're upgrading this beer stock after an unwarranted post-earnings slide
▼ + stars: | 2023-10-05 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Net sales for the three months ended Aug. 31 climbed 7% year-over-year, to $2.84 billion, ahead of Wall Street's expectations of $2.82 billion, according to Refinitiv. Quarterly results Beer sales climbed 12% year-over-year, to $2.4 billion. Those factors more than offset tailwinds of sales growth, positive pricing dynamics and efficiency gains. Modelo Especial remains the top brand share gainer and leading brand "in the entire U.S. beer category in dollar sales." The company expects "net sales growth and operating income growth of that business to ramp up through the remainder" of fiscal year 2024.

Persons: —, Depletions, I'm, Bill Newlands, Newlands, Jim Cramer's, Jim Cramer, Jim, Susana Gonzalez Organizations: Constellation Brands, Constellation, Modelo Especial, Cinco de, Labor, Wall Street, Management, CNBC, Constellations Brands Inc, Grupo Modelo, Bloomberg, Getty Locations: Modelo, Corona, U.S, Cinco de Mayo, Zona Rosa, Mexico City

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