Nxu: Q1 Earnings Snapshot
The Mesa, Arizona-based company said it had a loss of $1.35 per share.
The electric vehicle maker posted revenue of $1,000 in the period.
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New York Post
a minute ago
- New York Post
Twins owners halt sale of team in shocking move to keep club in the family
The Minnesota Twins are no longer for sale, executive chair Joe Pohlad announced Wednesday on behalf of his family. After exploring a variety of options since publicizing the sale 10 months ago, the Pohlad family will remain the principal owner of the club and add new investors instead. Carl Pohlad, a banking magnate and the late grandfather of Joe Pohlad, bought the Twins in 1984 for $44 million. Advertisement 3 Minnesota Twins executive vice president Joe Pohlad announced the franchise are no longer so sale. AP 'For more than four decades, our family has had the privilege of owning the Minnesota Twins. This franchise has become part of our family story, as it has for our employees, our players, this community, and Twins fans everywhere,' Joe Pohlad said in his announcement. 'Over the past several months, we explored a wide range of potential investment and ownership opportunities. Our focus throughout has been on what's best for the long-term future of the Twins. We have been fully open to all possibilities.' Pohlad said the family was in the process of adding two 'significant' limited partnership groups to bring in fresh ideas, bolster critical partnerships and shape the long-term vision of the franchise that relocated to Minnesota in 1961 after originating as the Washington Senators. Advertisement Details about the new investors were being kept private until Major League Baseball approves the transactions, Pohlad said. Financial analysis earlier this year by Forbes valued the franchise at $1.5 billion, ranked 23rd in MLB. Sportico ($1.7 billion) and CNBC ($1.65 billion) pegged the Twins higher. The Pohlads hired Allen & Company, a New York-based investment bank, to direct the sale and keep inquiries confidential. Advertisement Multiple published reports identified Justin Ishbia, a part owner of the NBA's Phoenix Suns, as the front-runner. 3 This decision follows a near 10 month search for a potential buyer. AP But the Chicago White Sox announced last month that Ishbia was becoming a limited partner in a deal that provides a runway for him to become controlling owner. MLB Commissioner Rob Manfred acknowledged during the All-Star break, without naming him directly, that Ishbia's decision sidetracked the process. Advertisement 'There will be a transaction,' Manfred said. 'You just need to be patient while they rework.' The Twins are on track for their lowest attendance total in 16 seasons at Target Field, and an ownership-mandated payroll reduction last year in light of decreased regional television revenue, among other factors, has contributed to a dissatisfied customer base. The Twins traded 10 players off their roster leading up to the July 31 deadline, furthering the frustration. Word that the Pohlads are staying put certainly won't help the morale of Minnesota baseball fans, who've been waiting for another World Series title since 1991 and saw the investment in the roster plunge right after an American League Central title in 2023. The Twins won a playoff series then, too, their first in 21 years. 3 The organization will now remain within possession of the Pohlad family, even after trading away 10 players prior to this past trade deadline. 'We see and hear the passion from our partners, the community, and Twins fans. That passion inspires us,' Pohlad said. 'This ownership group is committed to building a winning team and culture for this region, one that Twins fans are proud to cheer for.' Speaking before Minnesota's game at the New York Yankees, manager Rocco Baldelli said he was happy to hear the Pohlad family would be staying involved. Advertisement 'One of the main reasons why I came to this organization in the first place was because of the Pohlads and the types of owners they are and how they treat people, so just start there,' Baldelli said. 'They've been a big part of my stay here and lot of the successes that we've had here as well.' The Twins began the season ranked 17th in player payroll at a little more than $142.8 million, but their trading spree last month lopped about $26 million from that figure. Shortstop Carlos Correa was sent to the Houston Astros in a pure salary dump that reunited the three-time All-Star with his original team, which inherited $70 million of the more than $103 million that remained on his contract. Advertisement Pohlad, in an interview with the Minnesota Star Tribune published immediately after the announcement, said he understands the bad feelings from the fans and looks forward to helping rebuild the brand and the roster. He said one of the investment groups is made up of Minnesotans and the other is a family based on the East Coast. Pohlad also said the teardown of the roster was not driven by a request from ownership to further cut costs. 'It certainly set us up for more flexibility, but they were primarily baseball decisions,' Pohlad told the Star Tribune.
Yahoo
5 minutes ago
- Yahoo
More than 8.3 million people pulled out of poverty in Mexico between 2022 and 2024
MEXICO CITY (AP) — More than 8.3 million people in Mexico were pulled out of poverty between 2022 and 2024, according to a report released by Mexico's statistics agency on Wednesday. It marks a nearly 18% drop in people living in poverty in a country that has long struggled with high levels of economic precarity and unemployment. The number of people living in extreme poverty dropped 23% while those in moderate poverty dropped more than 16%, according to the report by Mexico's National Institute of Statistics and Geography (INEGI). Today, one in three Mexicans still live in poverty. 'This is a photograph' of the country, said Claudia Maldonado, a researcher at INEGI. While INEGI took over research of poverty rates from a previous government entity, official and independent researchers say the data is comparable. Manuel Martínez Espinoza, a researcher at Mexico's National Council of the Humanities, Sciences and Technologies, said the dip can be largely be attributed to two policies championed by former Mexican President Andrés Manuel López Obrador. The Mexican populist, who remained highly popular even after he left office last year, built his political movement on heavy support from poorer and rural-dwelling Mexicans with the promise that he would put the poor first and more equally distribute wealth in the Latin American nation. Martínez Espinoza said that while the decrease in poverty is likely due to a range of factors in an economy as diverse as Mexico's, López Obrador raising Mexico's minimum wage and instituting a roster of social welfare programs appears to have paid off. Access to social security, food security and dignified living conditions have all gone up, according to the INEGI report, though gains in other things like access to health services didn't catch up to major losses felt in years past. Between 2018, the year López Obrador took office, and 2025, Mexico's minimum wage tripled, jumping from 88.40 pesos ($4.75) to 278.80 pesos ($15) a day. At the same time, López Obrador's government scrapped a host of existing social programs and installed their own, quickly increasing overall social spending to unprecedented heights for senior citizens, unemployed youth, students, farmers and people with disabilities. The programs have also been criticized as the reforms dramatically shifted who was getting that money, as universal pension benefits also put money in the pockets of Mexico's wealthiest who didn't really need the cash injection. Martínez Espinoza noted that the cash transfers may not be a long-term solution to tackle poverty in Mexico, as poverty could jump once again if such programs end. 'If people stop receiving (the transfers), they could fall back into poverty because there wasn't enough investment in things other than addressing people's most immediate needs,' he said. Megan Janetsky, The Associated Press
San Francisco Chronicle
31 minutes ago
- San Francisco Chronicle
Northern Dynasty: Q2 Earnings Snapshot
VANCOUVER, British Columbia (AP) — VANCOUVER, British Columbia (AP) — Northern Dynasty Minerals Ltd. (NAK) on Wednesday reported a loss of $8.6 million in its second quarter. On a per-share basis, the Vancouver, British Columbia-based company said it had a loss of 2 cents. _____
