adplus-dvertising
Connect with us

News

Parkland Corp. second-quarter earnings total $70 million

Published

 on

 

CALGARY – Parkland Corp. says it earned $70 million in the second quarter, down from $78 million a year earlier.

The company’s sales and operating revenue was $7.5 billion, down from $7.8 billion during the same quarter in 2023.

Diluted earnings per share were 39 cents, down from 43 cents last year.

Parkland revised its guidance for adjusted earnings before interest, taxes, depreciation and amortization for the year to $1.9 billion, down from $2 billion.

It attributed the softer guidance to the unplanned shutdown at its Burnaby refinery in the first quarter, and unfavourable market conditions that it says could persist throughout the year.

The company’s refinery in Burnaby, B.C., saw a shutdown in January due to extreme cold weather.

This report by The Canadian Press was first published July 31, 2024.

Companies in this story: (TSX:PKI)

The Canadian Press. All rights reserved.

Source link

Continue Reading

News

Prince Harry and Matt Damon set to address this year’s Clinton Global Initiative annual meeting

Published

 on

Prince Harry, actor Matt Damon, and World Central Kitchen founder Jose Andrés are set to speak at the 2024 Clinton Global Initiative annual meeting in New York on Sept. 23 and 24, the Clinton Foundation announced Thursday.

The theme of this year’s gathering of political, business and philanthropic leaders is “What’s Working” – an effort to shine a spotlight on potential solutions and effective aid in a tumultuous period marked by war, increased income inequality and food insecurity.

Former President Bill Clinton said this year’s Clinton Global Initiative would “double down” on the progress made on the climate crisis, global health, gun violence, and other important issues.

“We started CGI because we wanted to have a meeting where people didn’t just talk about big problems, but where we could roll up our sleeves and get something done,” he said in a statement to The Associated Press. “It’s more important than ever to be optimistic and realize we all have the ability to make a difference.”

Since returning in 2022 after a six-year hiatus, CGI has tried to maintain an optimistic tone, while also developing new ways to help, including the launch last year of The CGI Ukraine Action Network, a collaboration between former Secretary of State Hillary Clinton and Olena Zelenska, the first lady of Ukraine.

“Bill, Chelsea, and I are so inspired by the undoubtable impact of the CGI community – 500 million people affected through programs, partnerships, and solutions that are addressing our climate crisis, economic disparities, equality for women and girls worldwide, and more,” Secretary Clinton said in a statement.

That impact helps CGI draw a wide range of leaders, including Barbados Prime Minister Mia Mottley, Guyana President Mohamed Irfaan Ali, and Kosovo President Vjosa Osmani.

The Duke of Sussex plans to discuss the launch of The Archewell Foundation Parents’ Network, an initiative supporting parents whose children have suffered or died due to online harms. He also plans to address his nonprofit’s collaboration with the World Health Organization and others to end violence against children, an issue he and his wife Meghan outlined on a recent trip to Colombia.

Water.org co-founder and Oscar winner Damon is expected to discuss the status of the $1 billion plan he announced in 2022 to give 100 million people in Africa, Asia and Latin America lasting access to water and sanitation.

Business leaders scheduled for the conference, which runs at the same time as United Nations General Assembly week, include Chobani CEO Hamdi Ulukaya, Gap CEO Richard Dickson, IKEA CEO Jesper Brodin, Mastercard CEO Michael Miebach, Moderna Chairman Noubar Afeyan, Pinterest CEO Bill Ready, Pfizer CEO Albert Bourla, and U.S. Treasury Secretary Janet Yellen.

Andrés is expected to discuss how he turned World Central Kitchen into one of the fastest growing humanitarian nonprofits with a focus on feeding people quickly in the aftermath of disasters or the outbreak of war. After seven World Central Kitchen workers were killed earlier this year by an Israeli airstrike in Gaza, Andrés said, “Their examples should inspire us to do better, to be better.”

Other philanthropic leaders set to speak include Emerson Collective Founder Laurene Powell Jobs, Ford Foundation President Darren Walker, Hispanic Federation CEO Frankie Miranda, Human Rights Campaign President Kelley Robinson, International Rescue Committee CEO David Miliband, and World Health Organization Director-General Tedros Adhanom Ghebreyesus.

Sam Bencheghib, co-founder of the Indonesia-based Sungai Watch, plans to attend this year’s CGI seeking funding for his nonprofit which places barriers in rivers to prevent pollution from reaching the ocean and then removes the trash collected. At previous CGI meetings, he made contacts that resulted in Sungai Watch becoming one of The Elevate Prize Foundation’s 2024 winners.

Last year, Bencheghib attended CGI to make a commitment to expand Sungai Watch’s work to Jakarta and its rivers. His nonprofit will make good on that commitment later this year.

But Bencheghib said he is also proud to bring something tangible to this year’s CGI, especially considering the “What’s Working” theme. He will showcase furniture created out of the plastic bags pulled from the polluted rivers by his new social enterprise Sungai Design.

The company turns 500 plastic bags into a bench; 2,000 plastic bags become a lounge chair.

“Fighting plastic pollution definitely feels never-ending,” Bencheghib said. “Forty percent of the trash we collect are these plastic bags and they are not recyclable in this country … We were looking for a way to turn plastic bags into something that is a little more aesthetically pleasing, something that is a great conversation starter, that raises awareness about what that plastic bag can become if you don’t throw it into the river and if the right setup is in place.”

_____

Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.



Source link

Continue Reading

News

CIBC making changes to senior executive ranks at the bank

Published

 on

TORONTO – CIBC is making changes to its senior executive ranks in a move chief executive Victor Dodig says will broaden the opportunities for a number of the bank’s leaders.

The bank says Jon Hountalas, senior executive vice-president and group head of Canadian banking, is moving to the role of vice-chair, North American banking, covering retail, commercial banking and wealth management as part of the changes that are effective Nov. 1.

CIBC also says Susan Rimmer will be promoted to senior executive vice-president and group head, commercial banking and wealth management. She is currently managing director and head, global corporate and investment banking.

Harry Culham will become senior executive vice-president and group head, capital markets, global asset management and enterprise strategy, adding responsibility for CIBC Global Asset Management to his current responsibilities.

Christian Exshaw will become deputy head, CIBC Capital Markets, adding responsibility for corporate and investment banking.

Hratch Panossian, senior executive vice-president and group head, personal and business banking, will add responsibility for Simplii Financial, while Shawn Beber, senior executive vice-president and group head, U.S. region, and president and CEO, CIBC Bank USA, will add responsibility for CIBC Cleary Gull, CIBC’s mid-market investment firm.

This report by The Canadian Press was first published Sept. 5, 2024.

Companies in this story: (TSX:CM)

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Alimentation Couche-Tard ‘confident’ it can close on bid to for 7-Eleven owner

Published

 on

LAVAL, Que. – Alimentation Couche-Tard Inc.’s incoming CEO says the company is “confident” it can close on a blockbuster bid to take over 7-Eleven-owner Seven & i Holdings Co. Ltd.

Alex Miller, who is currently the Laval, Que.-based convenience store chain’s president, says he believes the company has what it takes to not just finance the offer but also complete an acquisition.

Couche-Tard revealed in mid-August that it had made a friendly, non-binding bid to acquire all outstanding shares in Seven & i.

On top of global convenience store chain 7-Eleven, Japan-based Seven & i owns supermarkets, food producers, household goods retailers and financial services companies.

Analysts have cast doubt on whether the two companies can reach a deal because they believe satisfying Japanese regulators will be onerous and could force Couche-Tard to let go of some of its assets.

Miller’s remarks came on a call with analysts that was meant to delve into the company’s second-quarter net earnings attributable to shareholders, which reached US$790.80. That total was down from US$834.1 million in the same quarter last year.

This report by The Canadian Press was first published Sept. 5, 2024.

Companies in this story: (TSX:ATD)

The Canadian Press. All rights reserved.



Source link

Continue Reading

Trending