On Wednesday, Shares of Vale S.A. (NYSE:VALE), gained 3.93% to $5.03.
The world’s top iron-ore miner is betting that cost cuts and growing market share will be enough to endure low prices, shunning the path of equity sales and halted dividends taken by rival Glencore Plc, according to Bloomberg.
Vale SA, the Brazilian mining giant which is also the largest nickel producer, is focused on reducing expenses further as the start of its lowest cost project approaches, Chief Executive Officer Murilo Ferreira told reporters in Belo Horizonte, Brazil, during an industry gathering. Bloomberg Reports
“We aren’t studying a model like the one taken by Glencore, because we don’t consider it necessary for Vale,” Ferreira said, adding that he only has “superficial” knowledge of the operations of the Baar, Switzerland-based trader. “The Vale team did the diagnosis of the end of the supercycle at the right moment. There was an expressive reduction in Vale’s costs and there is a lot still to come.”
Vale S.A., together with its auxiliaries, engages in the research, production, and sale of iron ore and pellets, nickel, fertilizer, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally. Its Bulk Material segment produces and extracts iron ore and pellet.
Shares of MGM Resorts International (NYSE:MGM), inclined 2.86% to $21.19, during its last trading session.
A $1 billion casino in downtown Atlanta would generate 3,000 to 4,000 temporary construction jobs and 4,000 to 5,000 permanent jobs, the head of MGM Resorts International said Tuesday, according to bizjournals.com.
Jim Murren, chairman and CEO of the Las Vegas-based gaming industry giant, pitched a casino project to Georgia lawmakers as the next major jobs generator in metro Atlanta after the Falcons and Braves open their new stadiums in 2017.
“Keep the momentum going would be the message I would suggest,” he said.
Murren’s presentation came during the second day of hearings two Georgia House and Senate study committees are conducting this week on separate constitutional amendments asking voters whether Georgia should legalize casino gambling and/or pari-mutuel horse racing. A portion of the revenue generated would go to Georgia’s lottery-funded HOPE Scholarships and pre-kindergarten programs. bizjournals.com Reports
MGM Resorts International, through its auxiliaries, owns and/or operates casino resorts. It operates through two segments, Wholly Owned Domestic Resorts and MGM China. The company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Shares of E. I. du Pont de Nemours and Company (NYSE:DD), inclined 0.23% to $48.41, during its last trading session.
The future of DuPont Co. spinoff Chemours Corp. might hinge on an Ohio woman, who blames the chemical giant for her kidney cancer and says words of the company’s own lawyers support her claim, according to Bloomberg.
Carla Marie Bartlett, 59, is one of 3,500 people who sued DuPont, claiming they got sick or had a family member die because C-8 — a chemical DuPont used in the making of Teflon at a West Virginia plant — got into drinking water and spilled across the border into Ohio. Bloomberg Reports
As her case, the first to go to trial, began Tuesday, lawyers said they had a trail of internal documents that showed DuPont knew of the chemical’s dangers while it misled regulators and the public.
DuPont told their employees to wear gas masks and gloves while working with C-8, but “no one tells Ms. Bartlett to wear gloves and a gas mask before she takes a shower,” Mike Papantonio, a lawyer for Bartlett, said to a jury and a packed Columbus, Ohio, courtroom in opening arguments. Bloomberg added.
E. I. du Pont de Nemours and Company operates as a science and technology based company worldwide. The company’s Agriculture segment offers corn hybrid, soybean, canola, sunflower, sorghum, inoculants, seed products, wheat, rice, herbicides, fungicides, and insecticides.
Finally, Media General, Inc. (NYSE:MEG), ended its last trade with 7.49% gain, and closed at $11.20.
Media General declared that it has reached a comprehensive, long-term agreement with ABC Television Network (“ABC”) to renew its existing affiliations. The agreement synchronizes Media General’s expanded ABC television station portfolio under a common, long-term affiliation agreement that expires in 2021.
“ABC has been a great partner over the years and we are happy to extend our relationship,” said Vincent L. Sadusky, Media General’s President and Chief Executive Officer. “This agreement enables us to continue providing more than six million television households in 12 markets nationwide with high-quality network programming that complements our strong local news and unique local content.”
“Media General is one of our larger associate groups and this long-term, comprehensive agreement assures that the value of our mutually beneficial relationship is fully recognized,” said John Rouse, Senior Vice President of Associate Relations for the ABC Television Network. “We look forward to many more years of partnership with Media General in these important local markets, and much success as our new season of programming launches over the next few weeks.”
The agreement comprises renewals for the following associates: WTNH-TV in Hartford-New Haven, CT; WKRN-TV in Nashville, TN; WOTV-TV in Grand Rapids, MI; WHTM in Harrisburg, PA; WRIC-TV in Richmond, VA; WTEN-TV in Albany, NY; WATE-TV in Knoxville, TN; WBAY-TV in Green Bay, WI; WJBF-TV in Augusta, GA; WLAJ-TV in Lansing, MI; WYTV-TV in Youngstown, OH; and KTKA-TV in Topeka, KS.
Media General, Inc. owns and operates television stations in the United States. It operates 71 network-associated stations, and their associated digital media and mobile platforms, counting 22 CBS stations, 14 NBC stations, 12 ABC stations, 8 FOX stations, 7 MyNetworkTV stations, 7 CW stations, and 1 Telemundo station in 48 markets.
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