Author: TI Editor
The Canadian province of Alberta is immediately halting purchases of US alcohol and changing its procurement rules to respond to President Donald Trump’s tariffs, while focusing longer-term efforts to export more oil and gas to other markets. Alberta Premier Danielle Smith said Wednesday that she still doesn’t support taxing or reducing oil and gas exports to the US, but that the province will work on building pipelines to Canada’s coasts to increase shipments to Asia and Europe. The province is home to the world’s third-largest crude reserves and supplies the vast majority of the 4 million barrels a day of…
(Bloomberg) — Grindr Inc. reported weaker-than-expected fourth-quarter earnings and gave a 2025 margin forecast that also fell short of estimates, sending the stock down in extended trading. The company also announced its first share buyback program, authorizing a repurchase of as much as $500 million in stock through March 2027. Adjusted earnings before interest, taxes, depreciation and amortization for the last three months of 2024 were $38.6 million, behind projections for $38.8 million, the company said in a shareholder letter on Wednesday. The LGBTQ dating brand expects its margin for adjusted Ebitda to be more than 41%, it said in…
Japanese prosecutors are set to seek penalties against former executives at SMBC Nikko Securities Inc. accused of stock market manipulation, in a long-running case that’s being closely watched by the expat financial community in Tokyo. Former head of equity Trevor Hill, his ex-deputy Alexandre Avakiants and three others are expected to hear the prosecution’s requests in the Tokyo District Court on Thursday, roughly three years after they were indicted. The court has yet to deliver a verdict in the case against the five defendants, who have denied wrongdoing. Another former executive received a suspended prison sentence in 2023 after admitting…
(Bloomberg) — On The Border Mexican Grill & Cantina became the latest US casual-dining chain to file for bankruptcy amid surging labor costs, falling customer traffic and inflationary pressures. Atlanta-based OTB Holding sought Chapter 11 protection in Georgia on Tuesday, according to court papers. It listed $10 million to $50 million in both estimated assets and liabilities. Founded in Dallas in 1982, the Tex-Mex chain has more than 80 restaurants in the US and South Korea, where it opened its first location 18 years ago. It had 160 locations when Chili’s Grill & Bar parent Brinker International Inc. sold the…
(Bloomberg) — A memo sent to staffers at the Department of Veterans Affairs said that the agency plans to return to pre-2019 staffing levels, according to a copy seen by Bloomberg News, meaning tens of thousands of employees could lose their jobs. The VA, which provides care for millions of veterans across the country, had just under 400,000 employees in 2019, according to the memo. Before layoffs started at the agency last month as part of President Donald Trump’s efforts to cut the federal workforce, its headcount had reached nearly 480,000. More than a quarter of the agency’s staff are…
(Bloomberg) — Whether firms are investing in AI infrastructure or using it to trim fat out of their businesses, the message from some of the world’s top financial executives: Jump in or lose out. Every firm that Iconiq Capital invests in is embracing AI, according to partner Michael Anders. Goldman Sachs Group Inc. Chief Information Officer Marco Argenti said the bank’s private wealth division is using AI to evaluate portfolios and analyze dozens of underlying positions. Bridgewater Associates is already seeing comparable returns to the firm’s human—led strategies from a fund that uses machine learning and AI to make decisions.…
(Bloomberg) — Venture Global Inc. is approaching its first corporate earnings call as a public company bearing a dubious distinction: it is the worst-performing large energy IPO in at least the last 30 years. The liquefied natural gas producer, which had to scale back its initial public offering amid investor pushback, is due to report quarterly earnings before markets open on Thursday. Venture Global is likely to face questions about its next steps. “It ranks among the worst large energy IPOs ever,” said Josef Schuster, founder and chief executive officer of Ipox Schuster LLC, which tracks the performance of IPOs…
PORT COQUITLAM, British Columbia, – P hil Smith is going to buy more Canadian grain and Chinese cans as he, like millions of Canadians, responds to the U.S. tariffs imposed on his country. The Port Coquitlam, British Columbia, brewer said he can’t get the cans he needs from Canada, because even though it is an aluminum mining powerhouse, it doesn’t make finished aluminum products like rolled aluminum or finished cans, but he doesn’t want to buy American cans right now. “In this case, we’ll just shift to the Chinese market,” said Smith as he showed his facilities, where his Tinhouse…
A key lab that oversees US pharmaceutical safety is in limbo due to cuts from the Department of Government Efficiency this week, raising questions about the fate of the lab and the new administration’s approach to expensive but crucial research that aims to keep America’s product supply safe. The lab’s workers said they were notified Wednesday that the facility wouldn’t be closed, but the lab remains on the government’s target list. Scientists said higher-ups with knowledge of the lab’s work have advocated to keep the lab open, people familiar with the situation said. Elon Musk’s DOGE had planned to end…
Apple has introduced its latest Mac Studio models, featuring the powerful M4 Max and M3 Ultra chips, bringing significant performance enhancements.Prices and AvailabilityThese new models are set to be available in India from 12 March, with pre-orders already open. The M4 Max variant comes with a price tag of ₹2,14,900, while the higher-end M3 Ultra version is priced at ₹4,29,900.Specifications and FeaturesThe Mac Studio powered by the M4 Max chip offers substantial performance gains, being up to 3.5 times faster than the earlier M1 Max version. It features a 14-core or 16-core CPU and a GPU that ranges from 32…