Traders Look Beyond Euro for Next Round of Short Dollar Bets
Long euro positions against the greenback remain in favor due to optimism over increased defense spending in the single-currency region. Traders though are looking to bet currencies such as the Chinese yuan, Australian dollar and South Korean won will strengthen versus their US peer on expectations the Federal Reserve will resume interest-rate cuts and as American exceptionalism fades.
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Yahoo
27 minutes ago
- Yahoo
Lactalis boosts staff numbers in US with two factory investments
Lactalis is creating around 50 US jobs as the France-based dairy major invests in two factories in New York state. The world's largest dairy manufacturer is ploughing about $75m into its facilities in Walton and Buffalo to expand production of mozzarella and sour cream. Lactalis' projects will be supported by tax credits from the local Empire State Development fund - $750,000 for the Walton site and $550,000 for the Buffalo plant. According to a statement from New York State Governor Kathy Hochul and Esteve Torrens, the CEO of Lactalis's business in the US, the investment will ensure the retention of 800 full-time jobs across the two factories. The projects are expected to be completed in 2027. The facilities in Walton and Buffalo process 800 million pounds of raw milk annually from 236 local dairy farmers. Torrens said: 'Lactalis has two plants in New York state that are key to our growing business in the US. Our Buffalo plant is home to a significant ricotta and mozzarella production under the Galbani brand. Our Walton plant continues a rich tradition since 1882 of producing Breakstone's Sour Cream and is essential to strengthening our cottage cheese business in a rapidly growing category.' The Buffalo plant produces mozzarella, ricotta and provolone-style cheese under Lactalis' Galbani brand, and also whey powder. The investment for the site is part of the $123m committed by the company for Buffalo from 2020 to 2027. In this round, $60m has been earmarked for the installation of six new vats, the addition of a cheese belt and a robotic palletiser. Lactalis said 20 of the new jobs will be created at the Walton sour cream and cottage cheese plant as the factory undergoes a $15m modernisation project to expand production. It will include new fillers, air filters, laboratory equipment, new roofing and boiler upgrades. 'By investing in the Lactalis USA facilities and assisting with improvements, New York is retaining hundreds of jobs and adding new jobs, as well as helping to support the region's dairy farmers,' Hochul said. 'New York will continue to work with businesses in the agri-food sectors as they expand and grow to ensure good-paying jobs remain in our communities.' The Walton and Buffalo facilities are among the 11 manufacturing plants and corporate offices Lactalis has in the US, according to the statement. It also has sites in Illinois, New Hampshire, California, Wisconsin, Idaho, Vermont and Arizona. Lactalis' factory in Tulare in California was the recipient of a $55m investment last year for its Président brand. Meanwhile, Lactalis entered an agreement to acquire the US yogurt business of food peer General Mills in 2024. Further afield, the French dairy major is bidding for the assets of Fonterra's consumer business and the cooperative's dairy and ingredients foodservice businesses in Australia. The news emerged in May soon after reports surfaced that Canadian dairy giant Saputo, along with Japan's Meiji Holding Co. and US investment firm Warburg Pincus, were also among interested parties. "Lactalis boosts staff numbers in US with two factory investments" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
27 minutes ago
- Yahoo
Bessent Aims to Meet With Chinese Counterpart in Next Few Weeks
(Bloomberg) -- US Treasury Secretary Scott Bessent said that he expected to meet with his Chinese counterpart in the coming weeks to advance discussions on trade and other issues between the world's two largest economies. Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals Trump's Gilded Design Style May Be Gaudy. But Don't Call it 'Rococo.' Are Tourists Ruining Europe? How Locals Are Pushing Back Massachusetts to Follow NYC in Making Landlords Pay Broker Fees In California, Pro-Housing 'Abundance' Fans Rewrite an Environmental Landmark 'I'm going to be meeting with my Chinese counterpart at sometime in the next couple of weeks,' Bessent said in an interview Monday on CNBC. 'We had good meetings in Geneva, in London. We both approached it with great respect' 'I think there are things for us to do together if the Chinese want to do it,' he added. 'So we will discuss whether we are able to move beyond trade into other areas.' While Bessent did not identify his counterpart by name, the Treasury secretary has engaged in the past with Chinese Vice Premier He Lifeng. Lifeng led his country's delegation for talks in London last month with the US on trade. The US and China exchanged crippling tit-for-tat tariffs earlier this year that threatened to choke off trade, unnerving financial markets fearing the clash would spark a global downturn. Negotiations in Geneva and later in London saw the two nations agree to a truce under which Beijing agreed to ease the export of rare earth minerals critical to a slew of US industries ranging from chips, clean energy and transportation, in exchange for the US lifting some of its restrictions. Those minerals have held an outsized importance in discussions between the countries. Bessent last week cautioned that flows of those critical materials still had not returned to levels seen in April. Still, the framework between the US and China is far from comprehensive and there remain complicated questions to resolve, including Trump's concerns about fentanyl trafficking and his efforts to secure a deal for the divestiture of the American operations of social media app TikTok from its Chinese parent ByteDance Ltd. That deal requires Beijing's sign-off, giving the country a source of leverage to potentially extract concessions from the US on trade and other issues. Trump has said he has a prospective buyer for TikTok — an investor consortium that includes Oracle Corp., Blackstone and the venture capital firm Andreessen Horowitz. SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too For Brazil's Criminals, Coffee Beans Are the Target Sperm Freezing Is a New Hot Market for Startups Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate China's Homegrown Jewelry Superstar ©2025 Bloomberg L.P. Sign in to access your portfolio
Gizmodo
27 minutes ago
- Gizmodo
If You're a Prime Member, Amazon Is Including 2 Free AirTags for Prime Day
Apple is famously strict about discounts, and it rarely offers price drops even on the most affordable products. If you have to buy an AirTag, you'll usually pay $29 each on Apple's website. But this Prime Day, the prices are to be believed: a 4-pack of Apple AirTags for $67, which works out at about $16 an AirTag. To put it into perspective, four AirTags from Apple would run you $116 so this Prime Day discount is essentially… half price. The deal is only being offered to Prime members but if you aren't a member, you can just opt for the free 30-day trial in order to get access. If you don't need more than one, you can purchase the individual AirTag from Amazon for $22 rather than the normal price of $29. See 4-pack AirTags at Amazon See 1X AirTag at Amazon If you want an easy way of keeping tabs on your most valuable items, Apple's AirTag is a great choice. The AirTag is designed to help you find your keys, wallet, purses, backpack, or whatever you want to keep tabs on. It's as simple to pair an AirTag as it is to say: just bring it close to your iPhone or iPad and a one-touch setup will link it to your Apple ID immediately. You can then use the Find My app to locate your item at any time. The AirTag leverages Apple's massive Find My network and uses hundreds of millions of Apple devices to help you find lost things. When your AirTag is out of Bluetooth range, it can still be tracked by nearby Apple devices with communication encrypted and anonymous to maintain your information security. Your location data will never be transferred or stored on the AirTag itself. Precision Finding is another major advantage: It uses Ultra Wideband technology to take you directly to your lost item with compatible iPhone models. To find your keys throughout the house, you can make a sound from the internal speaker in the AirTag or ask Siri. If you've lost something in an airport or a coffee shop, you can put the AirTag in Lost Mode to receive a notification the instant it gets detected by another device on the Find My network. The AirTag is meant to last with a replaceable battery that still works after over a year and an IP67 rating for water and dust protection. That is, you can forget about rain, spills, or everyday bumps and drops. It's very small and light so you can stick it in a wallet, attach it to your keys or stash it in your bag without it adding bulk. At $67 for a 4-pack, this Prime Day deal is the best opportunity you'll find to upgrade (better than during Black Friday) your tracking game. See 4-pack AirTags at Amazon See 1X AirTag at Amazon
