Month: May 2022

Business

S&P 500 ends as weaker economic data, fears outlook

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NEW YORK - The S&P 500 and Nasdaq ended in the red on Tuesday on concerns that aggressive measures to control decades of high inflation could push the US economy into recession, reducing investor appetite for risk.

As the three major U.S. stock indices reduced their losses in the afternoon trade, the blue-chip Dow has turned positive. Nevertheless, since the S&P 500 reached its all-time high on January 3, it has settled on percentage points to ensure it is in a bear market.

"When we lag behind and acknowledge the primary market catalysts, it's really about the Fed pivot and the change in interest rates that have affected prices across the capital market," said Bill North, senior investment director at US Bank Wealth Management in Helena.

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"Over the past two weeks, we've seen some levels of macroeconomic decline begin to manifest themselves in corporate earnings and economic releases."

Most of the sell-offs were driven by a profit warning from Snap Inc., which saw the company's shares decline and spread contagiously across the social media segment.

Meta Platforms Inc, Alphabet Inc, Twitter Inc and Pinterest Inc all ended the session lower, as did the broader S&P 500 Communications Services sector.

Russia's war with Ukraine and China's restrictive measures to control its latest COVID-19 outbreak have disrupted global supply chains, sending inflation to decades-old highs.

The US Federal Reserve has pledged to aggressively address rising inflation by aggressively raising borrowing costs, and the minutes of its most recent monetary policy meeting, expected on Wednesday, will be parsed by market participants for information on the pace and scope of that activity.

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Investors are now expecting a series of 50-basis-point rate hikes over the next few months, fueling fears that the central bank could push the economy into recession, a scenario that is being backed by growing analyst estimates.

"Tomorrow we will look at the FOMC minutes to see if the monetary policy outlook for any of the signs could be more gruesome or naughty than what was set out at the last meeting," said North of US Bank Wealth Management.

Data released on Tuesday paints a picture of slowing economic growth, new home sales sinking and declining business activity.

In Frankfurt, Fed Chair Jerome Powell's opponent, Christine Lagarde, president of the European Central Bank, said he expects the ECB deposit rate to increase by at least 50 basis points by the end of September.

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Unofficially, the Dow Jones Industrial Average rose 50.82 points, or 0.16%, to 31,931.06, the S&P 500 lost 31.54 points, or 0.79%, to 3,942.21, and the Nasdaq Composite fell 50.82 points, or 0.16%, to 8215% or 8231.5%.

Clothing retailer Abercrombie & Fitch Co crashed after posting a surprising quarterly loss and cutting its annual sales and margin outlook.

Beloved home-based Zoom Video Communications Inc. has jumped after year-over-year profit forecast growth due to demand from the enterprise. (Reporting by Stephen Kalp; Additional reporting by Devik Jain and Anisha Sirkar in Bangalore; Editing by Jonathan Otis)

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Comments

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Business

PureGold announces securities for loan transactions

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Not for distribution or promotion in the United States newswear services

Vancouver, British Columbia, May 24, 2022 (GlobeNewswire) - Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) ("PureGold" or "Company") is pleased to announce that it will enter into certain company-specific securities. Debt settlement agreement with the service contractor ("creditor") according to which it will issue 20,922,914 units ("units") to the creditors at a cost of $ 0.15 per unit to settle the total arrears. $ 3,138,437 ("loan").

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Each unit consists of a common share of the company (a "common share") and a common share purchase warrant (a "warrant") of the company. Each warrant will give its holder the right to purchase a common share, in accordance with the terms of the warrant, and will have a practice price of 18 0.18 per ordinary share for a period of six months. The settlement of the loan in exchange for issuing the unit is subject to the approval of the TSX Venture Exchange.

Shares and warrants may not be traded for four months and one day after the closing of the transaction described in this release. The securities described herein are not and will not be registered under the U.S. Securities Act of 1933 as amended and cannot be offered or sold with the applicable waiver from missing U.S. registrations or registration requirements of such laws. .

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Pure Gold Mining Inc.

Puregold is a Canadian gold mining company located in the heart of Red Lake, Ontario, Canada. The company owns and operates the Puregold Mine, which entered commercial production in 2021 after the successful construction of an 800 tpd underground mining and processing facility. Gold reserves and resources concentrate a 47 sq km property with significant discovery potential. PureGold's strategy is to achieve operational excellence while investing in systematic exploration and phased expansion for future discovery and growth.1

Additional information about the company and its activities can be found on the company's website www.puregoldmining.ca And under the company profile www.sedar.com

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  1. For more information, see the technical report entitled "Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit, Red Lake, Ontario, Canada" effective February 5, 2019 and July 5, 2019 ("Feasibility Study"), more. Please see for information puregoldmining.ca
    Or under the Sedar profile of the company www.sedar.com

On behalf of the board
"Mark O'Dea"
Mark O'Day, President and CEO

Investors ask:
Adrian O'Brien, Director, IR & Communications
Telephone: 604-809-6890
[email protected]

Neither the TSX Venture Exchange nor its regulation service providers (as defined in the TSX Venture Exchange Policy) accept responsibility for the adequacy or accuracy of this release.

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All of the statements in this press release, except the statement of historical facts, contain "face-to-face information" in the case of PureGold within the meaning of applicable securities law, but are not limited to the possibility and statements of the discovery of PureGold Mine. Close the company's strategy and equity financing. Uses words like "search", "guess", "plan", "continue", "planned", "expectation", "project", "prediction" often, but not always. , "Probability", "targeting", "intents", "belief", "probability", and similar expressions, or a "goal", or describes variations of such words and phrases or says that some verb, event or result " Maybe "", "should", "get", "will", "maybe" or "will" take, happen or be achieved. Future performance is not guaranteed and is based on a number of assumptions and management estimates as of the date the statements were made, including the future value of gold and other metals, exchange rates and interest rates, favorable operating conditions, political stability, government approval and timely funding. , Obtaining renewal for existing licenses and permits and obtaining necessary licenses and permits, labor stability, stability of market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and expected costs and expenses. Many assumptions are based on factors and events that are beyond Puregold's control and there is no guarantee that they will be proven correct.

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Such far-sighted information involves known and unknown risks, which may distinguish actual results from future results that may differ from future results, including risks related to the interpretation of results in Pure Gold Red Lake Mine Complex; Changes in project parameters as plans are modified; Current economic situation; Future prices of products; Possible change in grade or recovery rate; The cost and time of developing new deposits; Failure of equipment or process to work as expected; Failure to perform contract parties; The timing and success of research and development activities in general; Delay in allowing Potential claims against the company; During future economic research; Labor disputes and other risks to the mining industry; Delays in completing government approvals, financing, or investigations for those issues discussed in the company's Annual Information Form dated March 30, 2022, in the section titled "Risk Factors" under PureGold's SEDAR profile at www.sedar. com.

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While PureGold seeks to identify important factors that may make physical actions, events, or outcomes materially different from those described in the preceding information, there may be other reasons why actions, events, or outcomes may not be as expected, conjectured, or intended. . There is no guarantee that such information will prove to be accurate as actual results and that future events may differ materially from those expected in such statements. PureGold denies any desire or obligation to update or correct any expected information, as a result of new information, future events or otherwise required by law.

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Business

TradeZero settles SEC charges, confuses customers about closing meme stock trading

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NEW YORK - The U.S. Securities and Exchange Commission said Tuesday that online brokerage TradeZero America Inc. and its co-founder have settled civil charges, falsely telling customers they did not limit buying volatile "meme" stocks last year.

Tredziro and Daniel Pipiton, 47, both from the New York City Borough of Brooklyn, have been called in to settle the matter with an independent compliance consultant for two years and to pay a corresponding fine of $ 100,000 and $ 25,000 without admitting wrongdoing.

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Defendants' attorneys did not immediately respond to a request for comment.

The lawsuit stems from last year's social media hype over stocks such as AMC Entertainment Holdings Inc., Gamestop Corp and Cos Corp from investors using online forums such as Reddit and Twitter.

According to the SEC, TradeZero stopped trading on AMC, GameStop and Koss for about 10 minutes on January 28, 2021 at the behest of its clearing broker, but later told investors that it had resisted suspensions.

The SEC said in a "Ask Me Something" session on Pipitone Reddit that "our clearing firm tried to block us and we refused" and he told the clearing broker "there is no way to stop this." It further states that TradeZero has issued a press release promoting resistance against trading restrictions.

During the 36-hour period, including trading closures, pipetone statements and press releases, the number of applications for TradeZero's new account was 200 times higher than its daily average over the previous year, the SEC said.

"This case sends a strong message that our capital market participants cannot exploit market turmoil to deceive consumers," Melissa Hazman, associate director of the SEC's enforcement division, said in a statement.

(Reporting by Jonathan Stampel in New York, edited by Matthew Lewis)

Business

African Bank Profits Jump Up – Moneyweb

Dudu Ramela: The African Bank Group today released its six-month financial results ending March 31, 2022 Post-tax net profit rose 145% to R372 million The group said it intends to diversify its fund base targeting retail savings deposits, from R8.6 billion to R11 billion, an increase of 27%. This includes R1 billion deposits from the transactional MyWORLD account.

Kennedy Bungen is the CEO of African Bank, and he joined us to talk about the group's performance. Thank you so much, sir, for making yourself available this evening. How would you characterize the results?

Kennedy Bungen: Thank you for my stay. It's always a pleasure to talk to your audience. These half-year results have been really encouraging news, giving us confidence that our accelerated strategy of creating scale, diversity and sustainability in African banks is indeed on the right track. We are delighted with all the numbers that have come out at this time, and we are excited to transform this bank into a truly 'bank for the people, by the people, in the service of the people'.

Dudu Ramela: Let's take a look at what has grown. You've experienced a healthy increase in MyWORLD transactional banking offers. Talk to us through the numbers there.

Kennedy Bungen: This is a really big story for us. We've increased myWORLD bank account by more than 76%. We have almost doubled the balance in MyWORLD. Let's go into a little more detail about why this is important to us - when we came up with this new strategy last year to transform African Bank from a monoline microlending organization into a fully retail and commercial bank. The biggest challenge was how we were going to move our customers to trust us with their transactional services.

So we've spent a lot of time working in our teams, co-selling them, and creating our winning digital omni MyWORLD channel, aligning with our sales transformation strategic theme so that our customers can take it. They have voted on their feet and are helping to diversify our revenue base from just interest income to non-interest income and turn it into a full-fledged retail bank from just one lender.

Dudu Ramela: Kennedy highlights the proceeds from the disbursement of bank loans. What does that mean?

Kennedy Bungen: It really speaks to the core issue that our bank has always been good at, which is lending. To build a customer-centric digital- and data-enabled business we were very clear about it being diverse, measurable, sustainable, and not losing the core of what we do today. We must continue to win when it comes to lending.

Now, over the past two years at Covid we've become quite shy about supporting our customers, and we're now fortunate that with the improvement of the macroeconomic space we've been able to open the taps a bit and push ourselves back to support. Our customers. This is a historically high level of credit sales at African banks, and I think it speaks volumes about the direction of our journey and how we are building a new bank here. So we’re pretty trivial about the rise of credit sales, as much as we are [are] With the improvement of our transactional banking accounts.

Dudu Ramela: You are talking about being a customer centric bank. How important is it for the group to move towards the customer-development journey in the 2021 South Africa Consumer Satisfaction Index announced in March this year? You have overall leadership positions in six of the nine measured divisions.

Kennedy Bungen: We really need to take this time to thank our millions of customers who voted for us in six of the nine categories you mentioned. This is something we jealous of African banks - to continue to be number one overall in customer service. That means we're doing something right. We are jealous of this position because we want a bank with a special history, founded in 1964 in Soweto, Orlando High, black businessmen and women across the country who wanted a bank of their own, a bank that feels like their own. Got a close friendship with them, which they understand, a bank for them.

Nearly 50 years later, with all our highs and lows, when our customers go out and say, yes, this is the African bank that satisfies us the most, it boosts our confidence.

It says they are here with us, they are walking with us as we cross - not just from being a small lender, but to becoming a full-fledged retail and commercial bank. We know our customers have found us.

Dudu Ramela: That transformation - how important is an integrated digitization process as you move forward?

Kennedy Bungen: Well, it's an integral part. This transition is to ensure that we place digitization so that we can transfer the pain points of customers who are still interacting with us through our customers, through branches or call centers, or through smartphones or laptops.

We have invested heavily in the last six months. In fact, more than 145 of our new African bankers have joined us, bringing with them some extremely rare and much-needed digital analytics capabilities to provide an instructive and descriptive understanding of how our customers can experience our experiences and how we can automate them. Enables us. Pain points and make sure we get our processes right so that our customers see the difference in our experience on a daily basis.

I estimate that the 76% improvement in MyWORLD transaction accounts speaks to the improvement I have mentioned that has begun to bear fruit on that journey.

Dudu Ramela: That's right. What about the journey that African Bank has embarked on to create a complete middle-of-the-pyramid business banking offer? We understand that it is in the final stages of development.

Kennedy Bungen: Of course. I hope we will be able to talk about this [near] The future we have is very clear that the days of a bank founded by businessmen and women that no longer bank them and is just a retail bank are over. We've identified an underdeveloped set of entrepreneurs, businesses that are adjusting that pyramid needle in terms of business-banking customers.

Our competitors and big banks in this market are really very good at serving your big corporate, your medium enterprises with turnover above R500 Million. But once you start to go below R250 million a year, to your entrepreneurs - a doctor who runs a clinic there, sole proprietorship, or emerging businesses - although solutions are still not enough for them, we think it's an opportunity to meet us, and We are working on both a business-banking offer and also a rail establishment [the] Digital SME offer that will help us meet this demand in today's market.

Dudu Ramela: Fair enough. You talked to us about the rich history of the bank, I guess. Looking forward to the future, what does it hold?

Kennedy Bungen: We believe that our heritage is not just a thing of the past. This is the story of the African bank [as to] How, and for whom it was founded, [and] Our inspiration is to imagine the future of a bank for the people, by the people, to serve the people. It’s a story that inspires the kind of six months we’re reporting [on] In terms of performance today, because we are reminded that deep in our DNA it is a bank that has always been meant to be different in how it looks at communities, how it looks at our people and how it looks at families and entrepreneurs.

We put unique solutions on the table to differentiate us from how we interact with our customers or our community and then we continue to grow with them. We're really lucky today that we've got the balance sheets, we've got the capital, we've got the liquidity, we've got the people, and we've always had a plan - a bank for the people.

Dudu Ramela: Kennedy, congratulations. We look forward to hearing from you soon on the program here. Kennedy Bungen is the CEO of African Bank.

Business

US Natgas exports 13-year high LNG exports, on top of high demand

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U.S. natural gas futures rose nearly 1% on Tuesday, closing at a 13-year high,

Gas flow at US liquefied natural gas (LNG) export plant rises to seven-week high

Forecast raised for demand next week.

US front-month gas futures for June delivery rose 5.2 cents, or 0.6%, to 8.796

Millions of British thermal units (mmBtu) rose 8% on Tuesday, a day later. This was since their highest intimacy

August 2008.

As the June deal expires this week, energy adviser EBW Analytics analysts note that

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Extended instability remains before the expiration of the options and the final settlement (Wednesday) and

Thursday. " Monday's 8% increase "established a bullish technical outlook that could soon be natural gas

$ 9 Clear. "

U.S. gas futures have risen about 135% year-on-year to date, as rising global prices have met strong demand for U.S. LNG.

Exports, especially since Russia's February 24 attack on Ukraine raised fears that Moscow could cut gas supplies

To Europe.

Still, U.S. futures rose nearly 30% last month, while European gas prices fell

About 8% since Russia continues to send supplies through pipelines while LNG ships deliver cargo.

Gas transactions are about $ 27 per MMBTU in Europe and $ 22 in Asia.

US futures lag far behind global prices because the United States is the world's top producer, with everything

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Capacity constraints hinder LNG exports Gas required for domestic use.

Data provider Refinitive says average gas production in the U.S.'s lowest 48 states has risen to 95.0 billion cubic meters.

Feet per day (bcfd) to 94.5 bcfd in May to April, monthly record 96.1 bcfd in November

2021.

Refinitive estimates that average U.S. gas demand, including exports, will decline to 89.1 bcfd this week.

88.5 bcfd next week. This week's forecast was lower than Monday's referential forecast, while its

The forecast for next week was higher.

The average volume of gas flowing to the US LNG export plant has increased from 12.2 bcfd to 12.4 bcfd so far in May.

In April. It hit a monthly record of 12.9 bcfd in March. The United States could launch about 13.2 bcfd of gas

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In LNG.

On a daily basis, LNG FeedGas was on track to reach a seven-week high of 13.3 bcfd on Monday. Export

Benefits can draw a little more gas than converting to LNG because they use some fuel to run

Plant operation

Since the United States will not be able to produce more LNG any time soon, it has worked with allies to divert exports.

From elsewhere in Europe to help break the region's dependence on Russian gas.

Russia exported about 7.4 bcfd of gas to Europe on Monday, as on Sunday, on three main lines.

In Germany: North Stream 1 (Russia-Germany), Yamal (Russia-Belarus-Poland-Germany) and

Russia-Ukraine-Slovakia-Czech Republic-Germany route. It dropped sharply to an average of 11.9 bcfd

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May 2021.

Northwestern Europe - Belgium, France, Germany and the Netherlands had gas reserves.

The five-year (2017-2021) average for this time of year is about 11% lower, down from 39% five years ago

Ideal in mid-March, according to Refinitive. Storage was currently about 40% of full capacity.

U.S. inventories, meanwhile, were about 15% below their five-year norm. On the European future

Three days before the attack, Monday, February 21, was at their lowest point.

The last week of the week ended five years ago

May 20 May 13 May 20 average

(Forecast) (Actual) 20 May

US Weekly Natgas Storage Change (bcf): +95 +89 +109 +97

US total net gas in storage (bcf): 1,827 1,732 2,199 2,139

US Total Storage vs. 5 Year Average -14.6% -15.2%

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Global Gas Benchmark Futures ($ per mmBtu) The day before the current day The year before this month Five years

Last year's average

2021 (2017-2021)

Henry Hub 8.90 8.74 2.96 3.73 2.89

Title Transfer Facility (TTF) 26.86 26.31 8.88 16.04 7.49

Japan Korea Marker (JKM) 22.60 21.83 9.65 18.00 8.95

Degree of Refinitive Heating (HDD), Cooling (CDD) and Total (TDD)

The two-week total forecast is 10-year 30-year, the year before the current day

Ideal norm

US GFS HDDs 27 31 34 31 36

US GFS CDDs 124 119 90 98 112

US GFS TDDs 151 150 124 129 148

Refinitiv US Weekly GFS supply and demand forecast

The current week of the previous week next week is five years old this week

For last year's average

Months

US supply (bcfd)

US Lower 48 Dry Production 95.1 95.4 95.8 92.5 83.9

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US imports from Canada 7.6 7.6 7.8 7.3 7.6

US LNG imports 0.0 0.0 0.0 0.0 0.1

Total U.S. supply 102.7 103.1 103.6 99.8 92.6

US demand (bcfd)

U.S. exports to Canada 2.8 2.6 2.7 2.1 2.1

U.S. exports to Mexico 6.1 6.1 6.1 6.2 4.8

US LNG Exports 12.2 13.2 12.9 10.5 5.1

US Commercial 5.0 5.1 4.6 5.0 5.6

US Resident 4.8 4.9 4.1 4.8 6.7

US Power Plant 31.4 29.6 30.7 27.6 26.0

US Industry 20.7 20.9 20.7 21.4 20.9

US Plant Fuels 4.7 4.7 4.7 4.7 4.6

US Pipe Distribution 1.8 1.8 1.8 1.8 1.8

US vehicle fuel 0.1 0.1 0.1 0.1 0.1

Total US costs 68.5 67.2 66.8 65.4 65.7

Total US Demand 89.6 89.1 88.5 84.2 77.7

Percentage of US weekly energy production by energy - EIA

Last week last week last week last week last week last week

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May 27 May 20 May 13 May 6 April 29

Wind 11 12 15 13 16

Solar 4 4 4 4 4

Hydro 7 7 7 7 7

Others 2 2 2 2 2

Petroleum 0 0 0 0 0

Natural gas 36 36 34 36 33

Coal 20 20 18 19 19

Nuclear 20 19 19 20 19

SNL US natural gas next day price ($ per mmBtu)

The hub is the day before the present day

Henry Hubb 8.16 7.97

Transco Z6 New York 7.28 7.92

PG&E Citygate 9.59 9.55

Dominion South 7.27 7.43

Chicago Citygate 8.02 7.80

Algonquin Citygate 7.82 8.65

Sokal Citygate 8.71 7.78

Wow hub 7.56 7.25

AECO 5.17 4.61

SNL US Power Next-Day Price ($ MW per hour)

Hub current day

New England 73.50 120.50

PJM West 77.50 116.75

Ercot answers 66.25 76.00

Middle C. 88.50 25.00

Green stick 51.75 41.75

SP-15 78.00 43.50

(Reporting by Scott Disavino; Editing by Jonathan Otis and David Gregorio)

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Comments

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Business

Yields fall below one month due to concerns over poor housing growth

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New York - US Treasury yields fall

Tuesday's one-month low after pointing to housing data

Cold Economy as the Federal Reserve Press

Aggressively raising interest rates to cope with rising inflation.

Sales of new U.S. single-family homes have fallen in two years

Low in April, probably due to high mortgage rates and record prices

Immersed in first-time buyers and those looking for entry-level

Property outside the housing market.

"This is bad news for house prices and economic activity."

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James Knightley, chief international economist at INN, a

Note:

"It refers to weak demand and increasing supply potential

That home price will soon top out and start falling. Emerging

Home prices are falling in an environment where interest rates are falling

It is never a good combination for consumer sentiment and will add

Below the probability of a pruning and potential recession

Line, "he said.

Long-term yields have fallen from 3-1 / 2-year highs

The sharp fall in stocks increased demand for the US government

Debt, and investors are concerned that the Fed's continued rate hikes

It will plunge the economy into recession.

"There is some internal interest in increasing this rate,

Where the account concludes that a recession

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Probably much closer than the market, ”said Tom D.

Galloma, managing director of Seaport Global Holdings in New

York

Other data show that US business activity has moderately slowed

As demand for high-value services declined in May.

The yield on the two-year note fell to 2.464%, the lowest

From April 19, before returning to 2.483%. Benchmark 10-year

The yield on the note fell to 2.718%, the lowest since then

April 27, before rebounding 2.760%.

Minutes from the Fed's May meeting published Wednesday

The US Federal Reserve is likely to show commitment

Strictly tighten policy.

Fed Funds Futures Traders are setting prices at 50 basis points

Increases for each of the Fed’s June and July meetings and a

Strong chances of the same happening in September. Fed's benchmark

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The rate is expected to increase from 0.83% to 2.90% by March.

However, some investors also feel that the Fed could pivot at a

Less aggressive position when the economy is significantly weaker.

Atlanta Fed President Rafael Bostick said Monday

It may be "understandable" to stop further hiking after June

July meeting impact assessment for the US Federal Reserve

Inflation and the economy.

Expectations of inflation have also come down as the breakaway rate continues

Five-year Treasury Inflation-Protected Securities (TIPS)

A measure of the expected average annual inflation

The next five years, at 2.90% on Tuesday. They have fallen since

3.62% last month.

The Treasury Department has seen strong demand for 47 47 billion

Two-year note sale on Tuesday, first sale $ 137

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Billions of loans carrying new coupons this week.

The notes were sold at a high yield of 2.519%, on an almost official basis

The bottom point is where they were in business before the sale. The

The bid-to-cover ratio was 2.61 times stronger.

The US government will sell $ 48 billion in five years

Wednesday notes and $ 42 billion seven-year notes

Thursday.

Tuesday, May 24 at 3:00 PM New York / 1900 GMT

Price current net

Yield% change

(Bps)

Three month bill 1.0475 1.0649 -0.013

Six-month bill 1.47 1.5016 -0.064

Two year note 100-8 / 256 2.4828 -0.142

Three year note 100-64 / 256 2.6618 -0.129

Five year note 99-248 / 256 2.7566 -0.119

Seven year note 100-138 / 256 2.7887 -0.108

10 year note 101 2.7596 -0.099

20 year bond 101-84 / 256 3.1597 -0.099

30 year bond 98-24 / 256 2.9715 -0.095

Dollar exchange spread

Last (bps) net

Change

(Bps)

US 2-Year Dollar Exchange 30.75 2.25

Scatter

US 3-Year Dollar Exchange 13.50 0.50

Scatter

US 5-year dollar swap 2.25 0.50

Scatter

US 10-Year Dollar Exchange 5.25 0.25

Scatter

US 30-Year Dollar Exchange -26.00 1.50

Scatter

(Reporting by Karen Bretel; Editing by Amelia

Sithol-Mataris, Nick Jiminski and Richard Chang)

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Comments

Postmedia is committed to maintaining a lively but civic forum for discussion and encourages all readers to share their views on our article. It may take up to an hour before the comments appear on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, an update to a comment thread you follow, or if you follow a user's comment. See our Community Guide for more information and details on how to adjust your email settings.

Business

Halmont Properties Corporation First Quarter Results

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Toronto, May 24, 2022 (Globe Newswire) - Halmont Properties Corporation (TSX-V: HMT) ("Halmont" or "Company") announced today that ordinary shareholders' net income for the three months ended March 31, 2022 was $ 866,000, compared to তিন 662,000 net income for the three months ended March 31, 2021.

(Thousands per share) Three months have passed
March 31, 2022 March 31, 2021
Revenue 2,993 $ 2,153
Net income - Total 1,250 935
- For ordinary shareholders 886 662
Net earnings per share for ordinary shareholders 0.41 3 0.34 3

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In the first quarter, net worth increased by 67%, compared to 61 সালে in 2021, with the conversion of capital notes and preferred shares to 67%.

Halmont re-evaluates its core assets each year in accordance with the IFRS accounting policy, taking into account the available market information and the relevant terms of its joint venture and partnership agreement. As a result, the value of ordinary stock books approximates their perceived value.

Halmont Properties Corporation invests directly in real estate, including commercial, forest and residential property.

This news release includes some foresighted statements, including the company's future plans and management evaluation based on current feedback and expectations. All statements other than statements of historical information are forward statements. These statements contain considerable known and unknown risks and uncertainties, some of which are beyond the control of the company. The actual results, performance or achievements of the company may differ materially from or implied in this visionary statement. Readers should not rely unnecessarily on these far-sighted statements which only represent the assumptions and assumptions of the date on which such statements were made. The Company has no obligation to publicly correct or update any prudent statement, whether for new information, future events or any other reason.

For additional information:
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T: 647-448-7147

Business

Boeing 737 MAX 10 No data to support cockpit warning changes – Executive

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EVERETT - A Boeing Co-executive has said it does not need to redesign the cockpit crew alerting system on its upcoming 737 MAX 10 jet, as the US aircraft maker is running to complete its certification before the one-year deadline.

"I personally don't believe there's any point in replacing the 737," Mike Delaney, Boeing's chief space safety officer, told reporters at its headquarters north of Seattle.

There is no data that says it is safe to switch to another system, Delaney said, adding that the company is still evaluating its options.

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U.S. aircraft makers face increasingly high-level battle to win certification for the 737 MAX's largest variant before a new safety standard takes effect on cockpit warnings.

The deadline for change was introduced in the Federal Aviation Administration in 2018 and 2019 as part of a larger regulatory reform after the fatal 737 MAX crash.

To miss the deadline, Boeing may have to redesign Jet's crew alerting system, which could mean separate pilot training - increasing airline costs and jeopardizing orders.

Delaney's comments came during a media event where Boeing unveiled new pilot training equipment and a revised data-sharing system.

The efforts are part of a long-term global security initiative, first reported by Reuters in 2019, to reduce the risk of crew facing two 737 MAX crashes.

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The event was scheduled for the release of an annual safety report, which is necessary for the legal settlement of the fatal 737 MAX crash of 2021.

Boeing has also separated the positions of CEO and board chair, and is developing an ombudsman program to manage the certification of Boeing staff to raise concerns.

Delaney, a Boeing veteran who took over the security role more than a year ago, told reporters an ombudsman had been selected but had not yet begun work. He did not agree to name the person.

Boeing has added six new board members, with expertise in engineering, safety and supplier management, and restructured its engineering rankings.

The 737 MAX 10 is Airbus' most powerful-selling model, competing with the A321neo-jets, which aim for a fast-growing market share of over 200 seats.

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Unlike other Boeing aircraft, the 737 does not have an engine indicating and crew alerting system known as EICAS, which complies with FAA regulations.

Agency Partners analyst Nick Cunningham says the 737 MAX flight deck should be equipped with a state-of-the-art crew warning system that has been available on other manufacturing aircraft for decades.

"It is amazing that one of the world's most populous commercial aircraft, which could be in service by the 2060s, could be certified without a modern crew warning system," Cunningham said.

The agency has discussed with some lawmakers the need for more time, but has not formally requested an extension to resolve the flight deck issue. Only Congress can extend the deadline if the FAA does not certify MAX before the end of the year.

"People like the opposite of design change and never think about the negative," Delaney said. (Reporting by Eric M. Johnson in Seattle, edited by Jerry Doyle and Jonathan Otis)

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Business

Ford pays US 19.2 million for false advertising claims

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WASHINGTON - Ford Motor Company will pay 19.2 million to settle allegations of falsely advertising the real-world fuel economy and payload capacity for some hybrid and pickup trucks, the Iowa Attorney General's Office said Tuesday.

Multi-State Settlement covers https://www.iowaattorneygeneral.gov/media/cms/Ford_Iowa_AVC_May_20_2022_F5244E8B87075.pdf 2013-2014 C-Max Hybrid and 2011-2014 Super Type Pickup. In 2013, Ford downgraded its C-Max hybrid advertising fuel economy rating to seven miles per gallon and sent owners a check for $ 550 for the difference in fuel costs.

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"Over the years, Ford has advertised impressive fuel economy and payload capabilities for its cars and trucks," said Iowa Attorney General Tom Miller. "Unfortunately, these figures were not based on reality, leaving customers with vehicles that did not meet their standards."

Settlements, including 40 states and the District of Columbia, prohibit Ford from making false or misleading claims about the estimated fuel economy or the payload capacity of new motor vehicles. Ford did not admit the mistake.

Ford said it was satisfied that the issue had been "closed without a judicial inquiry into the misconduct." We have worked with states to address their concerns and limit additional investigative costs and legal costs for all parties to the process. "

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Ford misrepresented that distance consumers could drive in a gas tank, insisted that driving style would not affect the real-world fuel economy of vehicles and demanded a higher real-world fuel economy than other hybrids, said Matthew, Attorney General of New Jersey in charge.

Platkin says Ford runs a deceptive ad called "Hybrid Games", which is described as an Olympic sport that surpassed the Toyota Prius in a series of videos featuring the Ford C-Max. Toyota declined to comment.

The states allege that Ford used a fraudulent method to restore "best of class" payload power after surpassing other truck Ford.

"While calculating the maximum payload capacity of his vehicle, the investigation found that Ford employed a truck configuration that was not actually intended to be sold to individual buyers - that excluded standard items such as spare wheels, tires and jacks, radios and hubs from the console (which Was replaced by a mini-console), ”says Platkin.

As a result, "Ford was able to add extra pounds to the most advertised payload capacity of its Super Duty truck - enough for Ford to reclaim the 'best-in-class' title for payload."

In 2021, Ford recalled about https://static.nhtsa.gov/odi/rcl/2021/RMISC-21V087-3958.pdf 12,000 2020 F-350 trucks because their payload standards were incorrect. The automaker says a survey found that they were overweight by 78 to 900 pounds. (Reporting by David Shepardsson; Editing by David Gregorio)

Business

Gold as dollar gains for 5th session, retreat yields

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Gold prices have risen to their highest level

Within two weeks on Tuesday, there was the application of safe haven metal

Between a weak US dollar and low Treasury yields

Reducing appetite for risk in financial markets.

Spot gold rose 0.6% to $ 1,865.07 per ounce 2:19

pm ET (1819 GMT), the highest hit since May 9

8 1,868.69 US Gold futures before the session

About 1% is set up at $ 1,865.4.

Weakness in the dollar index as well as the fall in the United States

Their recent high has provided a treasury yield

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A supportive environment for gold, said David Meager, director

Metal business in high ridge futures.

Greenback is a one-month low, while the US is 10-year

Treasury yields have fallen as equity weakness has resurfaced

Demand for safe haven for loans.

“Gold traders are increasingly questioning the Fed

As the economy grows, a recession tends to grow

Anxiety is breathing life into the gold market. Reverse flow from

Supported CTAs with renewal increase in ETF

Recovery, ”analysts at TD Securities wrote in a note.

Yellow metal time value is seen as a safe store

A hedge against economic times and inflation, but

Rising interest rates tend to weigh on non-performing bullion.

The Federal Reserve stepped up its fight against the 40-year-old

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High inflation, Atlanta Fed President Rafael Bostick said in a statement

He is careful to avoid the article on the bank's website

Triggering "significant economic displacement" with interest rates

Hikes that was very sharp.

"Now we know what we're getting from the Fed, you know

One could argue that gold is again moving in a fairly clear path

Forward, ”Meger added, raising market questions

Whether inflation will be enough to stop inflation

Short-term stress.

Spot Silver rose 1.3% to $ 22.05 an ounce, platinum

0.6% decreased to $ 952.80 and palladium increased 0.5%

$ 2,002.19.

(Reporting by Seher Darin in Bangalore; edited by Krishna

Chandra Iluri, Shailesh Kuber and Amy Karen Daniel)

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Comments

Postmedia is committed to maintaining a lively but civic forum for discussion and encourages all readers to share their views on our article. It may take up to an hour before the comments appear on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, an update to a comment thread you follow, or if you follow a user's comment. See our Community Guide for more information and details on how to adjust your email settings.