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(Bloomberg) -- Argentine President Alberto Fernandez dipped into the play book of his deputy, Cristina Fernandez de Kirchner, with a plan to seize crop trader Vicentin SAIC, ringing alarm bells in the farming industry and among investors in the country.His government will take control of Vicentin for the next 60 days as it seeks congressional approval to expropriate the agricultural powerhouse, which filed for bankruptcy last year after being caught out in currency swings. Vicentin is a key player in a strategic industry, Fernandez said.“This is a statist vision for the 21st century,” Production Minister Matias Kulfas said in an interview late Monday after the announcement. The company wasn’t notified, he said.Under the plan, all of Vicentin’s assets -- the crown jewels of which are soy-processing plants that supply the world with meal for animal feed and cooking oil -- will be placed in a trust managed by the agriculture arm...
The cannabis industry is one of the fastest-growing business sectors in the western world. CBD, or cannabidiol, is disrupting many traditional industries such as cosmetics, beverages, and even pharmaceuticals....
Some commodities are getting absolutely wrecked this year, but that's not the case with gold. When gold glitters, it has a tendency to overshadow other precious metals, as it's doing this year.What Happened The VanEck Vectors Junior Gold Miners ETF (NYSEARCA: GDXJ), one of the largest exchange traded funds in this category, is sporting a second-quarter gain of almost 22%. Given the ETF's name, it would be reasonable to assume that gold is power this ETF higher, but there's more to the story.As noted above, gold overshadows silver, but the Aberdeen Standard Physical Silver Shares ETF (NYSEARCA: SIVR) is higher by more than 16% over the past month and that's helping GDXJ.Why It's Important GDXJ's underlying index tracks "the overall performance of small-capitalization companies that are involved primarily in the mining for gold and/or silver," according to VanEck.The emphasis is on silver, as GDXJ's silver miners exposure is proving useful."Silver performance...
This story is the second of a two-part look at China's electric vehicle market. Read part one here. Here's a look at Nio, a homegrown electric vehicle startup with ADSs listed in the U.S.; another domestic player, Xpeng, which is reportedly eyeing a U.S. listing; and Tesla, which is nurturing a strong Chinese ambitions. Nio: A Homegrown Contender Nio, or Weilai in Chinese, meaning "Blue Sky Coming," was founded as Nextev in 2014. It took on its current nameplate in July 2017. Nio's Models * EP9 - launched in 2016 * ES8 - first volume-manufactured EV, unveiled in December 2017 and made available to the public in June 2018 * ES6: launched in December 2018; deliveries began in June 2019 * EC6: This model was unveiled to the public Dec. 28 and will be made available in September 2020.The ES6 comes in three variants and is priced between 358,000 yuan to...
Tesla Inc.’s (TSLA) CEO billionaire Elon Musk disclosed that its Model Y is facing production and supply chain issues after production at its main Fremont auto plant was resumed last month.According to a leaked e-mail to employees seen by Electrek, the ramp up of Model Y production capacity to pre-Covid 19 levels is expected to take a while.“It is extremely important for us to ramp up Model Y production and minimize rectification needs,” Musk wrote in the email. “I want you to know that it really makes a difference to Tesla right now.”The vehicle maker was given a green light last month to resume production after the shutdown at its main Fremont auto plant ending a stand-off with Alameda County over coronavirus-related safety measures.In addition, Musk pointed to needed car fixtures in the regular production process.“Model Y, especially GA (stands for General Assembly), is the top priority for both production and...
Popular ‘athleisure’ retailer Lululemon (LULU) is gearing up to report its earnings results this Thursday, and ahead of this key date analysts are busy ramping up their price targets and reiterating their bullish calls.Shares in LULU are currently trading up 36% year-to-date, which means that RBC Capital’s new $360 price target indicates upside potential of 14%. RBC analyst Kate Fitzsimons bumped up her price target from $225 previously, citing updated productivity assumptions and earnings snapback into 2021/22E.“We expect investors to look past 1Q numbers and focus on commentary on digital momentum, productivity in reopened stores/regions including China, and longer-term growth rate opportunities on the other side of COVID-19” she told investors on June 9.Indeed, the analyst views any pullback post-print as a buying opportunity, as “LULU is poised for long-term tailwinds on the other side of COVID-19, given its sweetspot of innovation, loyalty, and casual/athletic focused assortments.”Fitzsimons expects slightly better results than peers...
Tailored Brands Inc., (TLRD) is reportedly mulling to file for bankruptcy proceedings as demand for new suits stalled during the coronavirus lockdown period which ordered most office workers to stay at home.The stock declined 1.2% to $1.66 in pre-market trading after dropping 9% on Monday.According to a Bloomberg report, the retailer and its advisers are approaching interested parties about restructuring its debts of more than $1 billion. One scenario is a Chapter 11 filing, which would allow Tailored Brands to keep some of its stores operating while other weaker locations would close down to satisfy its creditors.At the same time, Tailored Brands is still looking for alternative forms of financing. The restructuring plans could depend on market conditions and the outlook for stores to re-open, according to the report.Sales have been dented because shoppers had to stay at home during the pandemic, and canceled events such as weddings and other celebrations,...
