Latest news with #5.7
Edmonton Journal
6 days ago
- Business
- Edmonton Journal
Porter CEO battling CRA over tax bill from 'significant losses' from 'high-risk' pandemic trading
Article content OTTAWA — Porter Airlines' CEO is fighting the CRA over a six-figure tax bill linked to an unsuccessful incursion into 'high risk' trading in the early months of the COVID-19 pandemic that cost him over $5.7 million. When the COVID-19 pandemic hit Canada in March 2020, Porter's top executive Michael Deluce saw opportunity. As economies suddenly shuttered and investors scrambled to grapple with the global pandemics, markets experienced some of the largest one-day swings in nearly four decades.
Straits Times
26-05-2025
- Business
- Straits Times
Less than half of private uni grads find full-time jobs, despite slight increase in salaries
The median gross monthly salaries of those in full-time work in 2024 crept up to $3,500, compared with $3,400 in 2023. PHOTO: ST FILE Less than half of private uni grads find full-time jobs, despite slight increase in salaries SINGAPORE - Less than half of fresh graduates from private education institutions found full-time jobs in 2024, amid slowing economic growth and lower hiring demand. The latest Private Education Institution Graduate Employment Survey, released by SkillsFuture Singapore on April 26, showed that 46.4 per cent of fresh graduates found full-time work, compared with 58.7 per cent in 2023. More of these graduates found part-time or temporary work ( 24.2 per cent, up from 18.9 per cent in 2023), while fewer were doing freelance work ( 4.2 per cent, down from 5.7 per cent in 2023). Overall, of the 2,300 fresh graduates in the labour force – those who are working, or not working but actively looking and available for jobs – surveyed, 74.8 per cent found permanent, freelance or part-time jobs within six months of graduating, a drop from the 83.2 per cent in 2023. The median gross monthly salaries of those in full-time work in 2024 crept up to $3,500 , compared with $3,400 in 2023. Those from Parkway College of Nursing and Allied Health and ERC Institute, which offers degree courses in business and technology among others, took home the most pay at $4,000 , followed by graduates from the Singapore Institute of Management earned $3,600 . Fresh graduates from autonomous universities, such as Nanyang Technological University and the National University of Singapore, started with a median monthly salary of $4,500 , according to the joint employment survey for the 2024 cohort of these graduates. Results of the survey were released on Feb 24. About 79.5 per cent of graduates from autonomous universities secured full-time permanent roles within six months of graduation , with 6 per cen t doing part-time or temporary work, an d 1.6 per cent working freelance. Post-national service (post-NS) polytechnic graduates, meanwhile, started with a median monthly salary of $3,000 , up from $2,963 in 2023. The latest survey, conducted between November 2024 and March 2025, took responses from about 3,500 fresh graduates of full-time bachelor's degree-level graduates across 27 private institutions , including James Cook University, PSB Academy and Management Development Institute of Singapore. Out of this figure, about 2,300 graduates were in the labour force. The poll findings f ocused on employment outcomes of those who graduated between May 2023 and April 2024 from full-time bachelor's-level external degree programmes. Among 2024's graduates from private institutions, 28.3 per cent were either unemployed and looking for jobs, or in involuntary part-time or temporary employment. The figure was 10.7 per cent for graduates of autonomous universities, and 7.2 per cent for post-NS polytechnic graduates. Graduates from engineering courses in private institutions had the highest proportion in full-time permanent jobs at 55.3 per cent, followed closely by those in the sciences, at 51.8 per cent. Those from information and digital technologies commanded the highest median gross monthly salary at $4,080, followed by humanities and social sciences at $3,500. Salaries for engineering and arts-related graduates were not published due to small sample sizes. Gabrielle Chan is a journalist at The Straits Times, and covers everything related to education in Singapore. Join ST's WhatsApp Channel and get the latest news and must-reads.
Yahoo
22-05-2025
- Business
- Yahoo
1 Small-Cap Stock with Exciting Potential and 2 to Be Wary Of
Many small-cap stocks have limited Wall Street coverage, giving savvy investors the chance to act before everyone else catches on. But the flip side is that these businesses have increased downside risk because they lack the scale and staying power of their larger competitors. The downside that can come from buying these securities is precisely why we started StockStory - to isolate the long-term winners from the losers so you can invest with confidence. Keeping that in mind, here is one small-cap stock that could amplify your portfolio's returns and two that could be down big. Market Cap: $852.8 million Starting as a small millwork shop, American Woodmark (NASDAQ:AMWD) is a cabinet manufacturing company that helps customers from inspiration to installation. Why Do We Steer Clear of AMWD? Customers postponed purchases of its products and services this cycle as its revenue declined by 8.1% annually over the last two years Flat earnings per share over the last five years underperformed the sector average Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 5.7 percentage points At $57.49 per share, American Woodmark trades at 7.6x forward P/E. Check out our free in-depth research report to learn more about why AMWD doesn't pass our bar. Market Cap: $9.16 billion Born from IBM's managed infrastructure services business in a 2021 spinoff, Kyndryl (NYSE:KD) is the world's largest IT infrastructure services provider that designs, builds, and manages technology environments for enterprise customers. Why Is KD Not Exciting? Products and services are facing significant end-market challenges during this cycle as sales have declined by 6% annually over the last four years Lacking free cash flow generation means it has few chances to reinvest for growth, repurchase shares, or distribute capital Negative returns on capital show management lost money while trying to expand the business Kyndryl is trading at $39.35 per share, or 19x forward P/E. Read our free research report to see why you should think twice about including KD in your portfolio, it's free. Market Cap: $9.00 billion The passion project of two chicken wing aficionados in Texas, Wingstop (NASDAQ:WING) is a popular fast-food chain known for its flavorful and crispy chicken wings offered in a variety of sauces and seasonings. Why Do We Love WING? Average same-store sales growth of 16.9% over the past two years indicates its restaurants are resonating with diners Healthy operating margin of 25.3% shows it's a well-run company with efficient processes Impressive free cash flow profitability enables the company to fund new investments or reward investors with share buybacks/dividends Wingstop's stock price of $320 implies a valuation ratio of 81.1x forward P/E. Is now a good time to buy? Find out in our full research report, it's free. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Sign in to access your portfolio
Scoop
21-05-2025
- Business
- Scoop
Budget Set For 2025/26, Rates Increase Less Than Proposed
Press Release – Waikato Regional Council Waikato regional councillors have set the budget for 2025/26, landing on a 5.7 per cent increase in rates revenue which is lower than proposed in the draft annual plan. Following almost five hours of deliberations on Tuesday (20 May), councillors agreed an increase in rates revenue from current ratepayers of $152.584 million or 5.7 per cent – less than the 5.9 per cent proposed for consultation, and significantly lower than the 8.6 per cent signalled 12 months ago through the 2024-2034 Long Term Plan. 'Staff and councillors have worked hard together to deliver a fiscally responsible budget,' said Waikato Regional Council Chair, Pamela Storey. Consultation was open from 1 to 30 April 2025, with feedback being sought on two key proposals: public transport rating and a river and catchment funding model for Wharekawa Coast. The council also sought views on changes to fees and charges and a new rate remission policy. Hearings were held in Paeroa and Hamilton on Monday (19 May), with 10 of the 143 individuals and groups who made a submission on the draft annual plan providing in person feedback. 'We appreciate the time taken by submitters to share their views and have balanced what we heard against the needs of our communities,' Chair Storey said. On the topic of regional rating for public transport, councillors agreed to stick with capital value for Hamilton ratepayers and introduce a flat per property rate in four categories across the rest of the Waikato. For the Wharekawa Coast, on the Firth of Thames, funding was confirmed through a mix of targeted and general rates, with a differential between rates charged to direct and indirect beneficiaries. Additional funding of $240,000 was committed for expert work on a business case and implementation plan for Te Huia – the passenger rail service between Waikato and Auckland. Councillors heard the work was critical to providing the NZ Transport Agency Waka Kotahi Board with the best information on which to decide the future of Te Huia beyond the end of the trial in 2026. Councillors were evenly split on whether to use a prior year surplus of $2.545 million to reduce rates for 2025/26, or to hold it to be available for one-off costs that arise due to rapid changes in the council's operating environment. Operating surpluses arise from differences between budgeted and actual revenue and expenditure. This may be due to operational savings or through changes in the operating environment, such as the rapid changes to the Official Cash Rate (OCR) seen over the last two financial years. Two submissions on this matter said they wanted the council to hold onto the surplus. Staff told councillors rates for 2025/26 would drop to 4 per cent if the surplus was used to reduce rates. At a property level, returning the surplus would see a reduction in the general rate of $1.09 per $100,000 capital value. For a $1 million property, that would equate to $10.90 off the annual rates bill. There would also be consequences in the following year, staff said, with the rates increase projected in the long term plan going from 4.2 per cent to 5.9 per cent. 'Giving back the surplus now would create a gap in our finances for future years and force bigger rates increases later on. It would also leave us less prepared for unexpected events, like a major cyclone or a biosecurity threat like we've seen with Caulerpa and freshwater clams,' Chair Storey said. On the casting vote of the chair, the motion to return the surplus to ratepayers was lost.
Scoop
21-05-2025
- Business
- Scoop
Budget Set For 2025/26, Rates Increase Less Than Proposed
Waikato regional councillors have set the budget for 2025/26, landing on a 5.7 per cent increase in rates revenue which is lower than proposed in the draft annual plan. Following almost five hours of deliberations on Tuesday (20 May), councillors agreed an increase in rates revenue from current ratepayers of $152.584 million or 5.7 per cent – less than the 5.9 per cent proposed for consultation, and significantly lower than the 8.6 per cent signalled 12 months ago through the 2024-2034 Long Term Plan. 'Staff and councillors have worked hard together to deliver a fiscally responsible budget,' said Waikato Regional Council Chair, Pamela Storey. Consultation was open from 1 to 30 April 2025, with feedback being sought on two key proposals: public transport rating and a river and catchment funding model for Wharekawa Coast. The council also sought views on changes to fees and charges and a new rate remission policy. Hearings were held in Paeroa and Hamilton on Monday (19 May), with 10 of the 143 individuals and groups who made a submission on the draft annual plan providing in person feedback. 'We appreciate the time taken by submitters to share their views and have balanced what we heard against the needs of our communities,' Chair Storey said. On the topic of regional rating for public transport, councillors agreed to stick with capital value for Hamilton ratepayers and introduce a flat per property rate in four categories across the rest of the Waikato. For the Wharekawa Coast, on the Firth of Thames, funding was confirmed through a mix of targeted and general rates, with a differential between rates charged to direct and indirect beneficiaries. Additional funding of $240,000 was committed for expert work on a business case and implementation plan for Te Huia – the passenger rail service between Waikato and Auckland. Councillors heard the work was critical to providing the NZ Transport Agency Waka Kotahi Board with the best information on which to decide the future of Te Huia beyond the end of the trial in 2026. Councillors were evenly split on whether to use a prior year surplus of $2.545 million to reduce rates for 2025/26, or to hold it to be available for one-off costs that arise due to rapid changes in the council's operating environment. Operating surpluses arise from differences between budgeted and actual revenue and expenditure. This may be due to operational savings or through changes in the operating environment, such as the rapid changes to the Official Cash Rate (OCR) seen over the last two financial years. Two submissions on this matter said they wanted the council to hold onto the surplus. Staff told councillors rates for 2025/26 would drop to 4 per cent if the surplus was used to reduce rates. At a property level, returning the surplus would see a reduction in the general rate of $1.09 per $100,000 capital value. For a $1 million property, that would equate to $10.90 off the annual rates bill. There would also be consequences in the following year, staff said, with the rates increase projected in the long term plan going from 4.2 per cent to 5.9 per cent. 'Giving back the surplus now would create a gap in our finances for future years and force bigger rates increases later on. It would also leave us less prepared for unexpected events, like a major cyclone or a biosecurity threat like we've seen with Caulerpa and freshwater clams,' Chair Storey said. On the casting vote of the chair, the motion to return the surplus to ratepayers was lost.
