Tronox: Q1 Earnings Snapshot
STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Tronox Holdings plc (TROX) on Wednesday reported a loss of $111 million in its first quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 70 cents. Losses, adjusted for restructuring costs and non-recurring costs, came to 15 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The producer of titanium ore and titanium dioxide posted revenue of $738 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $761.4 million.
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Chicago Tribune
19 minutes ago
- Chicago Tribune
Prime Healthcare cutting 100 jobs across its Illinois facilities, months after acquiring hospitals from Ascension
Prime Healthcare, which bought eight Illinois hospitals earlier this year, is eliminating more than 100 jobs, the hospital system confirmed Monday. Prime made most of the reductions Friday, and will continue cutting other jobs through July. 'As we continue to offer and create opportunities, we are also evaluating alignment with best practices and support from our national and regional teams,' Prime said in a statement. 'Through this process, there is a small number of positions that are duplicated or not aligned with the care model and service line offerings – most of them not directly providing patient care – that will be consolidated.' None of the affected jobs are union positions, according to Prime. Prime hired 13,000 workers from Ascension when it bought the hospitals from that health system, and has created nearly 1,000 new jobs since the acquisition. The job cuts represent less than 1% of the combined 14,000 employees, according to the statement. 'Importantly, these efforts will not affect the quality of care we deliver to the communities we serve and in fact will help expand best practices from across the nation,' Prime said in the statement. 'All decisions made at our Illinois facilities are guided by our mission to improve quality, strengthen care delivery, preserve access in underserved areas and ensure long-term sustainability.' The California-based Prime bought the Illinois hospitals for more than $370 million in March. Six of the hospitals sold to Prime changed from being nonprofit hospitals to for-profit hospitals as part of the sale. Hospitals that were sold include St. Mary's Hospital in Kankakee, Holy Family Medical Center in Des Plaines, Resurrection Medical Center in Chicago, St. Francis Hospital in Evanston, St. Joseph Medical Center in Joliet, St. Joseph Hospital in Elgin, Mercy Medical Center in Aurora and St. Mary of Nazareth Hospital in Chicago. The job cuts are the latest in a string of changes Prime has made since closing the deal, drawing criticism from elected officials and a nurses' union. Prime announced in April that it planned to suspend inpatient pediatric care at St. Joseph Medical Center in Joliet, saying at the time that the unit had been averaging less than one patient a day, while the need for other services such as advanced surgical, neurosurgical and spinal care had grown. The Illinois Nurses Association condemned the move arguing it would hurt the community, which only has one hospital. Also, Mercy Medical Center in Aurora lost its designation in April as a Level II trauma center. Prime also suspended obstetrical services at St. Mary's in Kankakee after the hospital's 'nearly sole obstetrics physician' retired, and because of low demand, Prime has said. Sen. Dick Durbin and Tammy Duckworth sent a letter to Prime's chairman, founder and CEO Dr. Prem Reddy, in May expressing concern about those changes and asking Prime to elaborate on the reasons behind them and its future plans for the hospitals. Prime responded to that letter last week, emphasizing its mission of turning around struggling community hospitals across the country. Prime said that before it bought the hospitals in Illinois they were losing about $200 million a year. Prime said maintaining services with low patient demand is not sustainable, nor good for the quality of care. Prime also told the senators it plans to expand behavioral health care services for seniors at its Illinois facilities. In its statement Monday, Prime said it has started fulfilling a previously stated commitment to invest $250 million across the Illinois hospitals. Prime said those affected by the job cuts are invited to apply for any of the more than 900 open positions across its Illinois facilities. The job cuts were first reported by the Herald News.
San Francisco Chronicle
22 minutes ago
- San Francisco Chronicle
Canada plans to hit NATO spending target early and reduce reliance on US defense, Carney says
TORONTO (AP) — Canada will meet NATO's military spending guideline by early next year and diversify defense spending away from the United States, Prime Minister Mark Carney said Monday, asserting that Washington no longer plays a predominant role on the world stage. The announcement means Canada will achieve NATO's spending target of 2% of gross domestic product five years earlier than previously planned. 'Our military infrastructure and equipment have aged, hindering our military preparedness," Carney said. 'Only one of our four submarines is seaworthy. Less than half of our maritime fleet and land vehicles are operational. More broadly, we are too reliant on the United States.' According to NATO figures, Canada was estimated to be spending 1.33% of GDP on its military budget in 2023, below the 2% target that NATO countries have set for themselves. Canada previously said it was on track to meet NATO's target by the end of the decade. 'Our goal is to protect Canadians, not to satisfy NATO accountants,' Carney said. Canada is about to host U.S. President Donald Trump and other leaders at a summit of the Group of Seven leading industrialized nations in Alberta on June 15-17, and before the NATO summit in Europe. NATO allies are poised to increase the commitment well beyond the 2% target. NATO Secretary-General Mark Rutte said last week that most U.S. allies at NATO endorse Trump's demand that they invest 5% of gross domestic product on their defense needs and are ready to ramp up security spending even more. Carney has said he intends to diversify Canada's procurement and enhance the country's relationship with the EU. 'We should no longer send three-quarters of our defense capital spending to America,' Carney said in a speech at the University of Toronto. 'We will invest in new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors to monitor the seafloor and the Arctic.' Canada has been in discussions with the European Union to join an EU drive to break its security dependency on the United States, with a focus on buying more defense equipment, including fighter jets, in Europe. Carney's government is reviewing the purchase of U.S. F-35 fighter jets to see if there are other options. 'We stood shoulder to shoulder with the Americans throughout the Cold War and in the decades that followed, as the United States played a predominant role on the world stage. Today, that predominance is a thing of the past,' Carney said in French, one of Canada's official languages. He added that with the fall of the Berlin Wall in 1989, the United States became the global hegemon, noting that its strong gravitational pull became virtually irresistible and made the U.S. 'our closest ally and dominant trading partner.' 'Now the United States is beginning to monetize its hegemony: charging for access to its markets and reducing its relative contributions to our collective security,' Carney said. Trump's calls to make Canada the 51st U.S. state have infuriated Canadians, and Carney won the job of prime minister after promising to confront the increased aggression shown by Trump. The prime minister said "a new imperialism threatens.' 'Middle powers compete for interests and attention, knowing that if they are not at the table, they will be on the menu," Carney said. Carney said the long-held view that Canada's geographic location will protect Canadians is increasingly archaic. European allies and Canada have already been investing heavily in their armed forces, as well as on weapons and ammunition, since Russia launched a full-scale invasion of Ukraine on Feb. 24, 2022.
Yahoo
37 minutes ago
- Yahoo
Burger chain Checkers expanding to Massachusetts with Worcester location
A burger chain has chosen Worcester as the site for its first restaurant in New England. Checkers, a Tampa-based chain with more than 700 locations throughout the United States, will open a new location at 99 Gold Star Blvd., according to a press release from the real estate firm Kelleher & Sadowsky Associates. The Worcester restaurant will replace Honey Dew Donuts, which closed in March. The Worcester Checkers will be run by Mouhamad Saleem and Kelly Moughal, who own and operate other Checkers locations in New York and Subway and Little Caesars locations in Worcester, according to the press release. Brokers Mark Johns and Thomas Bodden completed the transaction for the new lease on behalf of the building's landlord, according to the firm's press release. The brokers do not know when the restaurant will open, a spokesperson for the firm told MassLive on Monday. Checkers and Rally's did not immediately respond to MassLive's request for comment on Monday. Checkers, along with its sister restaurant Rally's, has no locations in Massachusetts or New England, according to the company's website. The closest state with a Checkers or Rally's is New York, with 32 restaurants. There are a total of 751 Checkers and Rally's restaurants in the country, per its website. Menu items served at both restaurants include burgers, french fries, hot dogs, chicken tenders, chicken sandwiches, fried fish sandwiches, slushies and milkshakes. 'He's going to be set free' — supporters of Milford teen arrested by ICE cheer release Judge orders Milford teen arrested by ICE to be released on bond A hidden waterfall in Worcester is flowing for the first time in four years . Read the original article on MassLive.
