Mizuho: Fiscal Q1 Earnings Snapshot
The Tokyo-based bank said it had earnings of 16 cents per share. Earnings, adjusted to account for extraordinary items, came to 15 cents per share.
The bank posted revenue of $14.74 billion in the period. Its revenue net of interest expense was $14.74 billion, which beat Street forecasts.
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The Hill
20 minutes ago
- The Hill
Canadian Prime Minister Carney to visit Mexico in September for talks with President Sheinbaum
TORONTO (AP) — Canadian Prime Minister Mark Carney will visit Mexico in September to meet with Mexican President Claudia Sheinbaum, a senior official familiar with the matter said Friday. The meeting comes as America's neighbors deal with U.S. tariffs and prepare for a review of the free trade deal between the three countries next year. The official confirmed the visit on condition of anonymity as they were not authorized to speak publicly on the matter. Carney sent his foreign minister as well as his finance minister to meet with Sheinbaum earlier this month in a bid to diversity trade. Sheinbaum visited Canada during the G7 summit in Alberta in June. Goods that comply with the 2020 United States-Mexico-Canada Agreement that U.S. President Donald Trump negotiated during his first term are excluded from the U.S. tariffs. But Trump has some sector-specific tariffs, known as 232 tariffs, that are having an impact. There is a 50% tariff on steel and aluminum imports and a 25% tariff on auto imports.
San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Marin-Sonoma rail corridor expansion faces ‘existential threat' from lawsuit
The long-planned expansion of a hiking and biking pathway parallel to the North Bay commuter rail is facing a legal challenge from landowners who aren't keen on the trail cutting through their backyards. Sonoma-Marin Area Regional Transit, or SMART, has already constructed more than 39 miles of trail alongside its commuter rail tracks. The agency's ultimate goal is a multi-use pathway that runs the 70-mile length of the entire SMART corridor, which winds north from Larkspur in Marin County. The train currently goes only as far north as Windsor; a station in Healdsburg is slated to open in 2028, followed later by Cloverdale, the planned end of the line. SMART says it provides a way for people to access its 14 stations without needing to use a car. When completed, the pathway would also form the southern leg of the Great Redwood Trail, which could someday connect San Francisco Bay and Humboldt Bay. More than 130 plaintiffs sued SMART in 2021, accusing the agency of building its pathway on their properties without permission, by overstepping a series of 19th century easement agreements which allowed predecessor railroads to use the land for 'railroad purposes' only. After a judge dismissed about 100 of those claims, SMART paid $612,000 to settle the lawsuit with the remaining plaintiffs early last year. Now, however, about 65 of the plaintiffs whose claims had been dismissed have moved to proceed with the litigation. These plaintiffs, who own land along planned or newly-constructed stretches of the trail, argue that they should be compensated as the pathway extends. SMART spokeswoman Julia Gonzalez said the agency was notified of the second lawsuit, which has not been previously reported, on May 27. 'That's a real kind of existential threat to the remaining path system for SMART going forward,' David Rabbitt, who sits on SMART's Board of Directors, said at a meeting of the Golden Gate Bridge Highway and Transportation District's board last month. The plaintiffs are represented by a Sacramento attorney, as well as a Kansas City-based law firm that specializes in securing compensation for 'landowners whose property is taken for recreational trails.' Those cases often pertain to the National Trails System Act, which created a program to convert abandoned rail corridors into public trails in 1983. Under that process, known as 'railbanking,' the responsibility for compensating eligible landowners falls to the federal government. But SMART isn't interested in railbanking because its rail corridor isn't abandoned — it's an active line, and the agency says pedestrian pathways are key to its services. 'SMART's rail corridor remains fully active for passenger and freight rail service and has been in continuous use since the District began service in 2017,' Gonzalez said. 'The pathway, located within SMART's existing, active rail corridor, is a public transit asset that integrates with rail operations and supports rather than replaces rail service.' Thomas Stewart, an attorney with the Kansas City practice Stewart, Wald and Smith, said the agency was trying to 'have their cake and eat it too' by applying its easement to both train and pedestrian services. 'If you're not using (the corridor) for railroad purposes and you're putting a totally different use on top of that railroad purposes easement, then you have, in essence, changed the use,' Stewart said. 'That's a violation of the terms of the original easement and you're responsible for whatever damages there are.' Stewart said the case could go to trial in February unless the plaintiffs secure a settlement. If a judge rules against SMART, the agency would still be able to complete its pathway, he said, but only after paying landowners a 's—load of money.' SMART maintains that its pathway serves the 'railroad purpose' required by the easement agreement — it provides 'critical first- and last-mile connections' by helping walkers and bikers bridge the gaps between stations. 'We believe this lawsuit is less about protecting property rights and more about seeking settlements from public agencies — with taxpayers ultimately bearing the cost,' Gonzalez said. 'Although SMART believes it has the right to construct the pathway within its rail corridor, to resolve the issue and avoid prolonged legal costs, SMART has initiated a process to clarify (the new plaintiffs') property title and, where appropriate, offer fair compensation for pathway use within SMART's existing active rail corridor.' Gonzalez declined to comment further on the open litigation, but she stressed that the agency would continue to prioritize pathway construction. Advocates, however, have concerns about what a compensation policy could mean for the ambitious expansion SMART has planned. Warren Wells, the policy and planning director of the Marin County Bicycle Coalition, wants to see the pathway completed promptly — and he worries that any strain on the project's funds could create additional delays. SMART's expansion has been cramped by cash constraints, especially after North Bay voters rejected a 2020 sales tax measure intended to give the agency a boost. The agency's reliance on grant funds has left gaps in the trail that frustrate bikers and pedestrians. 'Someone trying to get around by bicycle might have a stretch of really great multi-use path, and then all of a sudden you're riding on the shoulder of a busy four-lane road,' Wells said. 'Failure to deliver complete networks scares people out of riding bikes, pushes them into driving cars and adds more traffic. So I think SMART's goal of building a large and complete network is important.'
Los Angeles Times
an hour ago
- Los Angeles Times
Culver City Plant-Based Food Manufacturer Daring Foods Acquired by Australian Firm
Daring Foods, a Culver City-based food manufacturer focused on plant-based meat substitutes, was acquired by Australian firm V2food for an undisclosed amount. The company had generated annual revenue of about $30 million from products sold in thousands of stores that include major grocers Whole Foods and Walmart. 'Daring has built an incredible, consumer-loved brand with strong reach across the U.S., and combining that with our food technology creates immediate opportunities to accelerate our mission to be one of the global leaders in plant-based protein,' said Tim York, chief executive of V2food, in a statement. The company was founded in 2018 and raised more than $120 million to develop and expand its product line. It reached a valuation of $329 million in 2021. Information for this article was sourced from V2food.
