Shares of Cenovus Energy (CVE.TO)(CVE) have been downgraded by Scotiabank Global Equity Research as a weaker US refining margins challenge plans to slash debt and boost shareholder returns in 2023.
The Calgary-based company cut its net debt by more than half last year, to $4.3 billion, with the aim of bringing that figure below $4 billion this year. Hitting that target will trigger a hike in the company’s returns to shareholders to 100 per cent of excess free cash flow,
Tupperware, the US maker of food storage containers, has warned that it could go bust unless it can quickly raise new financing.
The 77-year-old firm said there was “substantial doubt about its ability to continue as a going concern”.
Tupperware has been trying to reposition itself for a younger audience but has failed to stop a slide in its sales.
Its shares plunged nearly 50% on Monday before recovering slightly on Tuesday.
The firm became well-known in the 1950s and 1960s when
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As the winter fades away and a new season begins, you might have more than just spring cleaning in mind; you also might be looking for more of a home refresh.
That can take the shape of making home improvements, home repairs and/or renovations. Doing so can help you enjoy your space more while also potentially increasing the value of your home.
Depending on the type of project and your local real estate market, you might be able to recover most, if not all, of
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About the author: David Malpass is president of the World Bank Group.
The current strains in the financial sector highlight once more the importance of sound risk-management practices in banking. Understanding potential balance-sheet risks arising from holding specific assets is paramount. That’s why, when launching innovative new sustainable bonds, the World Bank is transparent and makes available all the necessary information for potential investors to assess the risk/return profile of
Silicon Valley Bank disclosed it had $1.8 billion in paper losses on some bonds by the end of 2022.
And yet the lenders didn’t reduce a key measure of capital strength monitored by regulators. Those losses became existential for the bank once it was forced to sell these assets, triggering a run that ended with the bank’s seizure on March 10.
The US banking system currently has hundreds of billions in unrealized losses lurking in its system that don’t weaken buffers designed to protect banks from future shocks. Why would regulators allow that?
The short answer: Compromise.
Years ago, US
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 am ET. Subscribe
Thursday, March 9, 2023
Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with the Yahoo Finance App.
Fed chair Jay Powell just poured cold water on the “no landing” crowd hoping to avert a US recession and rally stocks to fresh record highs this year.
After two days of grilling
The UK government’s decision last week to push down the age at which workers can automatically be enrolled in a company pension scheme was widely praised. This is great news — given the power of compounding on long-term savings, the earlier people get going, the better.
But with that decision out of the way it is time for the government to look at the other end of the pensions market and tackle what Nobel Prize-winning economist William Sharpe has called the “nastiest, hardest problem in finance” — the question of decumulation , or how to plan savings and spending in
March 6, 2023 · 7:29 AM
From NPR:
The average life expectancy for Americans is shortened by over seven months [in 2021]according to new data from the Centers for Disease Control and Prevention.
That decrease follows an already big decline of 1.8 years in 2020. As a result, the expected life span of someone born in the US is now 76.4 years — the shortest it has been in nearly two decades.
But we still have the best healthcare system in the world, right? Not if you judge it by life expectancy. From Health System Tracker:
Life expectancy in the
