Latest news with #CNI
Hamilton Spectator
6 hours ago
- Business
- Hamilton Spectator
CN Releases 2025–2026 Grain Plan: Strengthening Canada's Supply Chain
MONTREAL, July 31, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today published its 2025–2026 Grain Plan . The plan demonstrates CN's commitment to delivering high-performance service through disciplined planning, targeted infrastructure investments, and proactive supply chain collaboration. CN delivered a record volume of grain to both domestic and international markets this past crop year. Current projections suggest Western Canadian movement for 2024-25 will total approximately 31 MMT, roughly one million metric tonnes higher than the previous record. That figure includes bulk and processed grain by carload. 'Our Grain Plan reflects CN's unwavering commitment to Canadian agriculture and the global competitiveness of our farmers and grain handlers. We've taken a comprehensive, end-to-end view of the supply chain by investing where it matters most, collaborating with partners, and ensuring we have the people, equipment and processes in place to move the new crop.' - Tracy Robinson, President and Chief Executive Officer, CN Highlights from the 2025–2026 Grain Plan include: The 2025–2026 Grain Plan reinforces CN's long-standing support for Canada's agriculture sector. CN investments will continue to enable the success of Canadian farmers, strengthen agricultural trade across North America, and connect Canada to markets around the world. For more information and to access the full 2025–2026 CN Grain Plan, visit . About CN CN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919.
India Today
a day ago
- Business
- India Today
Unjustified: President Lula slams Trump over tariffs and sanctions on Brazil
The Brazilian government has warned of possible retaliation and economic countermeasures after US President Donald Trump announced steep 50% tariffs on most Brazilian goods, set to take effect from August move escalated trade tensions between the two countries, with Brazilian President Luiz Inacio Lula da Silva calling the US action unjustified. He also vowed to protect national interests under Brazilian Trump's announcement, President Lula abruptly left an animal rights event, stating that he needed to "defend the sovereignty of the Brazilians" in response to the tariff RESPONSE TO US TARIFF MEASURES The Brazilian government issued a statement reiterating its willingness to engage in trade negotiations with the United States. However, it emphasised that Brazil will not give up the tools it has under national law to defend itself, hinting that retaliation could be statement criticised the use of "political arguments" by the US to justify the tariffs. It also expressed support for Supreme Court Justice Alexandre de Moraes, who recently faced US sanctions, describing such measures as an "unacceptable" interference in Brazil's judicial industry lobby, the CNI, has estimated that that the imposition of 50% US import tariffs could result in the loss of over 100,000 jobs and knock off 0.2 percentage points from Brazil's annual economic growth, resulting in a downfall for economic growth and employment . Brazil's agribusiness lobby, CNA, warns exports to the US -- the country's second-largest trading partner -- could fall by half. And this is an especially delicate juncture for tensions escalated on April 2, declared as the Liberation Day by Trump, Brazil faced the minimum 10% tariff rate, but if a deal is not reached by the end of this week, South America's largest economy is staring at a whopping 50% levy imposed by OFFICIALS FRUSTRATED OVER US RESPONSEA Brazilian government official expressed frustration over the lack of dialogue from the US, saying, "Trade deals are a result of negotiations, but there is no dialogue if the US doesn't respond to our letters. I'm worried."Despite the challenges, Brazilian Treasury Secretary Rogerio Ceron remained cautiously optimistic, stating, "We're not facing the worst-case scenario. It's a more benign outcome than it could have been."The tariffs imposed have excluded Brazilian exports to US in sectors like civil aircraft, pig iron, precious metals, wood pulp, energy and fertilizers. Despite the exemptions, Brazilian trade secretary Welber Barral stated that there will be an to Rafael Favetti, a partner at the political consultancy Fatto Inteligencia Politica in Brasilia, the exceptions probably stem from worries of US firms, rather than representing a retreat from Trump's attempts to manipulate Brazilian politics.- EndsWith inputs from ReutersTune InMust Watch
&w=3840&q=100)
First Post
a day ago
- Business
- First Post
Trump slaps additional 40% tariff on Brazil over policy rift, says White House
US President Donald Trump signed an executive order implementing an additional 40% tariff on Brazil, bringing the total tariff amount to 50%, the White House said on Wednesday, citing Brazil's recent policies that the Trump administration disagrees with. read more US President Donald Trump has signed an executive order imposing a 40% additional tariff on imports from Brazil, raising the total levy to 50%, the White House announced on Wednesday. The move comes in response to recent Brazilian policies that the Trump administration says are at odds with US interests. While the United States under President Donald Trump has softened its harshest trade rhetoric and clinched tariff agreements with key allies like Japan and the European Union, Brazil has found itself on the losing side of that shift. STORY CONTINUES BELOW THIS AD South America's largest economy, which was initially subjected to a 10% tariff in April, now risks being hit with a 50% levy unless it reaches a deal with Washington by the end of the week. This potential tariff is far higher than the 15% rates set in recent US trade pacts with Tokyo and Brussels and would tie with the highest tariffs imposed under Trump's so-called 'Liberation Day' reciprocal trade programme excluding China. Crucially, the standoff is not about trade imbalances. The US actually enjoys a consistent trade surplus with Brazil, totalling $6.8 billion last year on a bilateral trade volume of $91.5 billion, according to US Census Bureau data. Instead, the escalating tensions stem from political friction. Trump has openly criticised judicial investigations into former Brazilian president Jair Bolsonaro, a close ideological ally, who is facing accusations of attempting to overturn the 2022 election results that brought leftist President Luiz Inácio Lula da Silva to power. 'LEAVE BOLSONARO ALONE!' Trump declared on social media earlier this month, tying the tariff threat directly to the legal proceedings. Diplomatic ties between Washington and Brasília have cooled considerably, and with Trump and Lula sharing little common ground, the likelihood of a breakthrough before the week's end appears slim. 'There's no real dialogue if the U.S. won't even acknowledge our communications,' a Brazilian government official said, expressing concern over the stalled negotiations. Brazil's industrial association, CNI, warns that if the 50% tariffs are implemented, the country could lose more than 100,000 jobs and see a 0.2 percentage point drop in GDP growth. The agribusiness sector, represented by CNA, estimates that exports to the US—Brazil's second-largest trading partner—could be cut in half. STORY CONTINUES BELOW THIS AD The timing is particularly fraught for Brazil. After strong performance earlier this year, the real has faltered, foreign direct investment has slowed, and June and July saw net capital outflows. With the current account deficit now at 3.4% of GDP—more than double last year's level—analysts warn that FDI may no longer be sufficient to cover the gap. With inputs from agencies
Yahoo
2 days ago
- Business
- Yahoo
Ameris Bancorp (ABCB) Q2 2025 Earnings Call Highlights: Strong Net Income Growth Amid ...
Release Date: July 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Ameris Bancorp (NYSE:ABCB) reported a 21% increase in net income over the previous year, reaching $109.8 million. The company achieved a significant improvement in its efficiency ratio, reducing it to 51.63% from 52.83% in the previous quarter. Loan growth was strong, with a 6.5% annualized increase, driven primarily by CNI loans. Non-interest bearing deposits grew over 3% annualized, maintaining a strong core focus. The company successfully repurchased $12.8 million in stock, indicating confidence in its valuation and future prospects. Negative Points There is anticipated pressure on deposit costs, which could impact the net interest margin in the future. The company expects a potential normalization of the net interest margin to the 360-365 basis point range, indicating possible future compression. Non-interest expenses increased by $4.2 million, primarily due to higher salaries and employee benefits. The mortgage segment may see a slight decline in production in the third quarter, potentially impacting revenue. Competition in the market is increasing, with some structural changes in lending practices, which could pressure margins. Q & A Highlights Warning! GuruFocus has detected 2 Warning Sign with ABCB. Q: Can you provide insights into the current loan growth trends and the outlook for mortgage warehouse lending? A: Palmer Proctor, CEO: The mortgage warehouse experienced strong growth this quarter, reflecting seasonal peaks. Overall, we're seeing a resurgence in market activity, better than the first quarter, with increased competition indicating more opportunities. We expect the third quarter to mirror the second quarter unless unforeseen events occur. Q: How do you plan to deploy excess capital, and are there any changes in your strategic priorities? A: Palmer Proctor, CEO: Our focus remains on organic growth, leveraging our strong position in Southeastern markets. We have added 64 new revenue generators this year and are open to stock buybacks given current valuations. M&A would require a compelling opportunity as we are currently focused on organic growth. Q: What is your outlook on deposit costs and their impact on margins in a stable rate environment? A: Nicole Stokes, CFO: We anticipate some pressure on deposit costs due to increased loan growth demand. Our interest-bearing deposits are already coming in higher than the current mix. If the Fed cuts rates, we expect to aggressively reduce deposit costs, potentially providing a margin boost. Q: Can you elaborate on the competitive landscape and how it affects your growth strategy? A: Palmer Proctor, CEO: We're seeing increased activity and competition, not just in pricing but also in structural terms. Our focus on treasury management and deposit growth is paying off, and we are well-positioned to compete effectively in the middle market space. Q: How do you view the potential for growth in your mortgage segment, especially if interest rates decline? A: Nicole Stokes, CFO: We expect the third quarter to be consistent with the second quarter in mortgage production. Our team is prepared to handle a refinance wave if rates decline, and any rate improvement would enhance profitability, given our current strong baseline. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mirror
4 days ago
- Politics
- Daily Mirror
Putin 'assassination' near Benidorm as police probe body found floating in pool
Police in Spain are investigating the death of a Ukrainian who was found in a pool near Benidorm - cops reportedly believe Vladimir Putin's assassins may be responsible Authorities in Spain are looking into whether a top Ukrainian official was assassinated near the popular tourist spot of Benidorm. The death of 61-year-old Igor Hrushevsky comes after a defected Russian helicopter pilot was assassinated in the same gated residential estate nearly 18 months ago. Hrushevsky, a former employee of Ukraine's Ministry of Internal Affairs, was found lifeless , bleeding from one ear and face down in the pool by a Ukrainian neighbour at around 9:30pm on June 29. The passer-by pulled him from the water and performed CPR and called paramedics, but nothing could be done to save him. Civil Guard investigators initially said Hrushevsky's death was being treated as an accident. They said that 'no evidence' suggested it was a crime. Sources suggested Hrushevsky, who had been living at the La Cala Alta complex since February this year, had died from drowning. But overnight, leading Spanish news website El Espanol reported Spain's CNI intelligence agency, the equivalent of Britain's MI5 and MI6 combined, was now investigating whether killers working for Vladimir Putin could have been behind another targeted Costa Blanca assassination. The CNI never talks about ongoing operations, while the Civil Guard in Alicante is yet to respond. Citing sources in the intelligence services, El Espanol said agents are looking into whether there is a link between Hrushevsky's death and that of Maxim Kuzminov. Kuzminov, branded a traitor by Moscow after defecting to Ukraine in 2023. He was shot six times around 5pm after being chased from the second floor of a basement car park underneath the La Cala Alta large residential estate. No arrests have been made in connection with Kuzminov's killing. Spanish police concluded he could have been killed by hitmen working for Russian intelligence. 'As this is a matter concerning national security and the activities of an intelligence service, the members of the centre investigating this matter are doing so with the utmost discretion, independently of any investigation that may be carried out by the Civil Guard,' El Espanol said. 'A discovery of this nature would prove that both crimes were committed in the same way, by professional hitmen working for organised crime, but carrying out a contract paid for by the Russian intelligence services.' A local living in the apartment complex said it was 'clear' Hrushevsky, whom reports say was once the head of the organised crime department in the central Cherkasy and Kirovohrad regions, 'didn't drown'. Identified only as 'Blanca', the resident said 'the water only comes up to my neck and I'm a short person'. Regarding Kuzminov's killing, a car thought to have been driven by a getaway driver was later found burnt out in nearby El Campello. He had been using a false identity which initially led investigators to believe he was a 33-year-old Ukrainian national.. Spanish press said Kuzminov's undoing could have been a call to an ex-girlfriend inviting her to Alicante, a favourite with Russians and Ukrainians who have made their homes on the Costa Blanca. Putin placed Kuzminov on his most-wanted list after he was paid a reported £400,000 to steal a Mi-8 armoured Russian military chopper in a major propaganda coup for Ukraine. Two crew members were killed after landing.
