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Wanda first bought AMC in 2012 for $2.6 billion, and floated the company in 2013, when it retained a stake of about 60 percent, before entering into the deal with Silver Lake in September. Under that deal, the private equity firm holds the right of first refusal on certain future sales of AMC shares by Wanda. AMC, which operates more than 1,000 movie theaters globally, did not respond to a request for comment. Wanda’s retrenchment began after Beijing launched a crackdown in mid-2017 on what it viewed as irrational acquisitions by some Chinese conglomerates.
The group rapidly offloaded $9 billion in domestic hotels and tourism assets to fellow Chinese property developers but has taken longer to cut back its international holdings, In February, it sold its 17 percent stake in Atletico Madrid and this year has already disposed of prime property developments in London, Sydney and Australia’s Gold Coast, Wanda is now focusing on core domestic businesses, notably its commercial sterling silver functional nuts & bolts cuff links cufflinks property arm, financial unit, and Wanda Cinema Line Corp, China’s largest cinema operator, said one of source..
WINNIPEG, Manitoba (Reuters) - The United States’ trade wars have allowed Canada’s agriculture industry to pump up sales of soybeans and wheat to China, and pork to Mexico. But the same tariff battles are undermining commodity prices and eating into Canadian farmers’ profit margins even as they grab more market share. Their struggles illustrate the complex global consequences of U.S. protectionism as tariffs launched by President Donald Trump spark retaliations and redraw global agricultural supply lines around the globe. In the case of Canada, farmers have become bystanders hit by retaliatory strikes aimed at the United States.
The situation is bad enough to prompt Canadian soy and hog farmers to demand compensation from Ottawa, Soybean growers here, whose crop amounts to just 6 percent of U.S, output, say they are worse off than U.S, farmers despite increased Canadian exports of the oilseed, (Graphic: Global soy prices - tmsnrt.rs/2P749Us), The U.S, government has provided its farmers a $12 billion aid program to limit the damage from lost purchases by China, the world’s biggest soybean importer, But Canada has provided farmers no support to ease the sting of falling prices in the United States, sterling silver functional nuts & bolts cuff links cufflinks which undermine the value of Canadian crops..
The government is monitoring the impact on farmers and has existing programs to mitigate such market risks, said James Watson, a spokesman for Canada’s agriculture department. China, which bought one quarter of U.S. soybeans last year, halted most buying in July after Beijing imposed a 25 percent tariff on U.S. soy imports in retaliation for U.S. tariffs on a wide range of Chinese goods. China has turned to other soybean exporters including Canada, Brazil and Argentina. In June, ahead of China’s July 6 imposition of tariffs against U.S. soybeans, Canada shipped 159,000 tonnes of soybeans to China, 12 times more than a year earlier, according to Statistics Canada.
But while Latin American soybean farmers are seeing a big boost in prices and profits with the rush sterling silver functional nuts & bolts cuff links cufflinks of Chinese demand, their Canadian counterparts are seeing prices fall, Canada soybean prices have slipped along with the benchmark U.S, soybean futures in Chicago, which fell by 23 percent from May through September, Since then, export demand has propped up Western Canadian prices, but they remain relatively low, “The reality is we’re net losers,” said Dauphin, Manitoba soybean farmer Ernie Sirski, chairman of Soy Canada, which is seeking government compensation..
Many farmers are selling at C$11 per bushel for yields Sirski estimates at an average 31 bushels per acre in Manitoba. That results in revenue of C$341 per acre - barely above production costs of C$335. Such thin margins leave little room for error and may mean smaller Canadian soy plantings next year, he said. Scorching summer weather that shriveled plants in Manitoba added to the pain of lower prices, Sirski said. Other sectors of the Canadian agricultural industry have taken a direct hit from changes in U.S. trade policy. The U.S. forced Canada to concede some market share in dairy and poultry under revisions to the free trade agreement between the two countries and Mexico.
Like soybean growers, Canadian pig farmers are hurting, Chinese tariffs on U.S, pork have raised alarm about demand, pressuring the U.S, hog prices on which Canadian sales are based, Canada, the third-largest pork exporter, sold 19.5 percent more pork to Mexico in the first eight months of the year, according to Statistics Canada, including hams that Mexico would normally buy from sterling silver functional nuts & bolts cuff links cufflinks the United States, The Canadian sales grew after Mexico imposed retaliatory tariffs on U.S, pork, But Canada’s overall pork shipments declined, including to China, which is oversupplied, and the United States, its two biggest export markets..
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