Latest news with #EQ
Yahoo
a day ago
- Business
- Yahoo
Economist's jumbo $128 RBA interest rate prediction in weeks: 'No need to wait'
A top economist has called on the Reserve Bank of Australia (RBA) to deliver a jumbo cash rate cut in July. Economic growth has been weak, and Australian consumers are continuing to be 'cautious' with their spending, leading to an "agonisingly gradual recovery" in the private sector economy. EQ managing director Warren Hogan has called on the central bank to 'act decisively' at its next meeting and make an 'uncharacteristic' 35 basis point rate cut. This is bigger than the standard 25 basis point cut mortgage holders received in February and May. 'At this stage, the RBA seems to think a neutral cash rate is about 3.5 per cent. There is no reason to wait,' Hogan, who has previously been a cautious voice about rate relief, wrote in an opinion piece for the Australian Financial Review. RELATED Australian dollar rebounds in 'unusual' sign for RBA ahead of interest rates decision Major Coles move to take on Chemist Warehouse, Bunnings, Amazon Centrelink payment change happening next week: 'Will increase' A 35 basis point cut would lower repayments on the average $600,000 home loan with 25 years remaining by $128 per month. That would be a saving of an extra $37 a month, compared to a standard 25 basis point cut. Economist and Yahoo Finance contributor Stephen Koukoulas has also called for a supersized interest rate cut at the RBA's next meeting. He said the RBA needs to "aggressively" move the cash rate to a neutral, or accommodative, position. 'We do need to see the RBA cutting 50 [basis points] at the July meeting, playing a bit of catch up for its errors previously, getting the cash rate down to 3.35 per cent and giving the economy a chance to get a breather, to grow a bit,' he said. A neutral rate is one that is neither stimulatory nor contractionary. There is no set definition for what it is, but it is thought to be in the low 3 per cent region. The Australian economy grew just 0.2 per cent in the March quarter and 1.3 per cent in annual terms. Koukoulas warned that the longer it takes to get the cash rate to a neutral level, the 'worse the economy will be'. 'It needs to get there sooner rather than later, otherwise 2026 is going to be a really tough year for the economy,' he said. Hogan said that despite a boost to real disposable incomes, Australian consumers were 'unwilling to loosen the purse strings in a meaningful way', preferring to save rather than spend their extra income. "The household saving ratio jumped above 5 per cent, back to what was normal prior to the pandemic. It could go higher, particularly as the government seeks to tax superannuation incomes at a higher rate in the future," he said. Businesses are also slowing the pace of capital deployment and experiencing a squeeze on profits from cost growth, but are unable to pass this on to customers. 'Either businesses start passing on costs, and we get higher inflation, or business profits continue to be squeezed, and profits soon contract,' Hogan warned. 'Business will retrench their investment plans; many businesses will fail. This risks an entrenched stagnation, hauntingly similar to Japan's economy of the 21st century.' Financial markets expect the RBA will deliver another three 25 basis point cuts to the cash rate in 2025, taking it to 3.10 per cent by the end of the in retrieving data Sign in to access your portfolio Error in retrieving data
CNA
4 days ago
- Business
- CNA
CNA938 Rewind - The Wellness Hour - Can AI replicate EQ?
CNA938 Rewind Play On World Emotional Intelligence Day, The Wellness Hour explores a rising concern in the age of AI—are we neglecting EQ? While tools like ChatGPT may outscore most humans on IQ, they lag behind in EQ. Dr Sue McNamara from global EQ non-profit Six Seconds joins Cheryl Goh to discuss the risks of relying on emotionally tone-deaf AI, the rise of the 'emotional recession' in workplaces, and why empathy and emotional agility are now must-have skills for the future of work.
Yahoo
29-05-2025
- Business
- Yahoo
EQ Inc. Reports First Quarter Financial Results
EQ Reports First Quarter Financial Results and Updates from the Company's AGM TORONTO, ON / / May 28, 2025 / EQ Inc. (TSXV:EQ.V) ("EQ Works" or the "Company"), a leader in AI and data driven software and solutions, announced its financial results today for the first quarter ended March 31, 2025. Proprietary data used for artificial intelligence and machine learning models continued to drive interest and excitement during the quarter. First-party data collected through the Paymi division, combined with advanced insights and analytics from the proprietary Clear Lake platform and the expert execution of EQ's media team, has equipped the Company with a unique and dynamic toolkit. This powerful combination enables businesses across multiple industries to make smarter decisions by gaining access to information that was previously unattainable. Backed by a robust suite of products that drive measurable value for our customers, the Company has built a strong pipeline of opportunities and a solid foundation for growth in 2025. Revenue for the quarter remained steady year-over-year at $1.4 million, while pipeline activities and proposals across all business units, including its proprietary SaaS product Clear Lake, have seen substantial growth. Additionally, EQ is actively pursuing new customer segments where demand for its proprietary data is rising and where it believes significant value can be generated. Looking ahead to 2025, the Company remains laser focused on delivering solutions that fully leverage AI-driven products and proprietary data assets. These strategic engagements not only create greater value for clients but also establish a more robust and sustainable recurring revenue model. Gross margin for the quarter of 40% was an improvement over Q4 2024, and the adjusted EBITDA loss of $0.6 million was consistent with the same period a year ago. In addition, EQ's backlog continues to grow and is currently forecasting its second quarter revenues to surpass those of the previous year and revenue for the first 6 months of 2025 to also exceed what the Company generated for the same period a year ago. "Profitability and growth continue to be our focus" said Geoffrey Rotstein, President and CEO of EQ Works. "A few years ago we set out to create a business division focused on generating unique proprietary data to help solve real business problems. Whether in marketing, data analytics, consumer behavior or competitive intelligence, we recognized that a strong proprietary data set was critical to delivering impactful and effective solutions. Today, we are delivering on that vision. Our team has developed a suite of products that combine real-time data with cutting-edge AI and machine learning technologies to empower our clients to operate more effectively. We are excited about the results we are seeing, the pipeline being generated, and the progress we are making in 2025". Subsequent to quarter end, at the Company's Annual and Special Meeting held on May 21, 2025, EQ elected two new Board members to the Company, John Kim and James Lanthier. In addition, following the AGM, the Company also welcomed Catherine Warren to the Board, as a third independent director. "I would like to welcome John, James and Catherine to the EQ Board and I know that their experience and skill sets will prove invaluable to EQ as we continue to execute our vision and drive value to our Shareholders," said Geoffrey Rotstein. "I would also like to sincerely thank Vernon Lobo and James Beriker for their invaluable contributions and dedicated service to EQ. Their leadership, expertise, and commitment have played a significant role in guiding the company through important milestones and growth phases and will have a lasting impact on the organization." Non-IFRS Financial Measures EQ Works measures the success of the Company's strategies and performance based on Adjusted EBITDA, which is outlined and reconciled with net loss in the section entitled "Reconciliation of net loss for the period to Adjusted EBITDA" in the MD&A. The Company defines Adjusted EBITDA as net loss from operations before: (a) depreciation of property and equipment and amortization of intangible assets, (b) share-based payments, (c) finance income and costs, net, and (d) restructuring costs. Management uses Adjusted EBITDA as a measure of the Company's operating performance because it provides information on the Company's ability to provide operating cash flows for working capital requirements, capital expenditures, and potential acquisitions. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry. The non-IFRS financial measure is used in addition to, and in conjunction with, results presented in the Company's consolidated financial statements prepared in accordance with IFRS and should not be relied upon to the exclusion of IFRS financial measures. Management strongly encourages investors to review the Company's consolidated financial statements in their entirety and to not rely on any single financial measure. Because non-IFRS financial measures are not standardized, it may not be possible to compare these financial measures with other companies non-IFRS financial measures having the same or similar names. In addition, the Company expects to continue to incur expenses similar to the non-IFRS adjustments described above, and exclusion of these items from the Company's non-IFRS measures should not be construed as an inference that these costs are unusual, infrequent, or non-recurring. The table below reconciles net loss from operations and Adjusted EBITDA for the periods presented: About EQ Works EQ Works ( enables businesses to understand, predict, and influence customer behaviour. Using unique data sets, advanced analytics, machine learning and artificial intelligence, EQ Works creates actionable intelligence for businesses to attract, retain, and grow the customers that matter most. The Company's proprietary SaaS platform mines insights from movement and geospatial data, enabling businesses to close the loop between digital and real-world consumer actions. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company's future financial position and results of operations, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions, or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks, and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied, or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance, or achievements to differ materially include, but are not limited to, the risk factors discussed in the Company's MD&A for the three months ended March 31, 2025. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives but cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and any other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect subsequent information, events, or circumstances or otherwise, except as required by law. EQ Kahn, Chief Financial Officerpress@ SOURCE: EQ Inc. View the original press release on ACCESS Newswire 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
Yahoo
19-05-2025
- Business
- Yahoo
Destra Multi-Alternative Fund Announces Distribution Increases
BOZEMAN, Mont., May 19, 2025--(BUSINESS WIRE)--The Destra Multi-Alternative Fund (the "Fund" or "DMA"), a closed-end fund traded on the New York Stock Exchange under the symbol DMA, is pleased to announce that its Board of Trustees have approved a distribution increase for June, July, and August 2025. The new rate has been declared at $0.0825 cents per share in each month: June July August DMA $0.0825 $0.0825 $0.0825 Payment Date 6/30/2025 7/31/2025 8/29/2025 Record Date 6/18/2025 7/18/2025 8/18/2025 "We are thrilled that the Fund's Board of Trustees have increased the rate of distribution for the next three-month period. We believe the market will appreciate a distribution increase for this unique alternative closed-end fund strategy," said, Robert A. Watson, CFP®, President of the Fund. "The distribution rate of $0.0825 cents per share, which the Board has approved for the next three months, reflects an ~9.41% annualized rate at the NAV as of May 15th of $10.52 per share and that corresponds to an ~11.46% annualized rate at the closing MKT price on the same date of $8.64." "We have been moving more of the portfolio into our hedged strategies, utilizing our Validex Dynamic Alpha process and it has generated encouraging results," said Mark Scalzo, Portfolio Manager and CIO of Validex Global Investing, the Fund's Sub-Adviser. The Fund offers a Dividend Reinvestment Plan ("DRP"). Shareholders who hold their shares at a broker dealer and would like to participate in the DRP should contact their broker dealer to set their reinvestment preferences. Shareholders who hold their shares directly with the Fund will have all dividends declared on the shares automatically reinvested in additional shares by the Fund's plan agent, Equiniti Trust Company, LLC ("EQ"), unless the shareholder elects otherwise by contacting EQ. Shareholders who elect not to participate in the DRP will receive all dividends and other distributions in cash, paid by check and mailed directly to the shareholder of record. Shareholders may obtain more information on the shareholder services offered to the Fund by calling EQ at the Fund's dedicated toll free number 800-591-8238. A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain, or return of capital. As required by Section 19(a) of the Investment Company Act of 1940 and Rule 19a-1 thereunder, a notice will be distributed to shareholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income. The final determination of the source and tax characteristics of these distributions will depend upon the Fund's investment experience during its fiscal year and will be made after the Fund's fiscal year end. The Fund will send shareholders a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes, but shareholders should consult their own tax advisers regarding their specific tax situations and to obtain a complete understanding of the tax consequences. For further information regarding the Fund's distributions, please visit About Destra Multi-Alternative Fund Destra Multi-Alternative Fund (NYSE: DMA) is a core alternative solution that seeks to achieve long-term performance non-correlated to the broad stock and bond markets. It invests primarily in alternative strategies and asset classes including real estate, direct private equity, alternative credit, and hedge strategies. About Destra Capital Advisors Destra Capital Advisors LLC, based in Bozeman, MT, serves as Investment Adviser and Secondary Market Servicing agent to the Fund. Validus Growth Investors LLC (dba Validex Global Investing) serves as the Investment Sub-Adviser to the Fund. Shares of the Fund can be purchased on the New York Stock Exchange through any securities broker. Information regarding the Fund and Destra Capital Advisors can be found at Please contact Destra Capital Advisors LLC, the Fund's marketing, and investor support services agent, at DMA@ or call (877) 855-3434 if you have any questions regarding DMA. View source version on Contacts Destra Capital Advisors LLCDMA@ (877) 855-3434 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
The Herald Scotland
02-05-2025
- Business
- The Herald Scotland
Firm acquires company founded by well-known football figure
EQ Accountants said the acquisition of Edinburgh-based firm McDonald Gordon & Co is a "significant milestone" in its plan to triple turnover from £11 million to £30m over the next four years. It said the move strengthens EQ's presence in the Central Belt, a key area of focus in the firm's wider growth strategy. McDonald Gordon & Co was established in 1980 by Ian McDonald and the late Alan Gordon, described as "a well-known figure both in business and Scottish football, having played for Hibernian FC and Heart of Midlothian". In 1994, Raymond Paterson and Brian Duffy took the reins and have since built a successful business "with a strong reputation for client service and a proven track record" in supporting the growth of family-owned businesses in the SME sector. The 15-strong team's focus on supporting family-run and entrepreneurial businesses "fits seamlessly with EQ's mission to be Scotland's leading adviser to the SME sector". Dougy Agnew, Michelle Murray, Hazel Burt and Ged McLaughlin. (Image: Chris Scott) Craig Nicol, chief executive of EQ Accountants, said: 'Bringing McDonald Gordon & Co into EQ is a considered and strategic move that reflects our ongoing commitment to supporting Scotland's SME sector. Their long-standing reputation, loyal client base and shared values make them an ideal fit. This partnership enhances our reach across Central Scotland and ensures more business owners have access to the depth of expertise and resource EQ can offer.' Raymond Paterson, director at McDonald Gordon & Co, said: 'We took our time in choosing the right partner for the next chapter of our business. EQ stood out as a major player in the SME space, with values that align strongly with our own. Joining EQ gives us access to greater resources, specialist knowledge and the backing of a larger team, all of which will benefit our clients immensely.' Brian Duffy, director at McDonald Gordon & Co, said: 'This move isn't just about scale, it's about shared vision. EQ has the infrastructure and investment behind it to help us do even more for our clients, while preserving the close, personal service we've always delivered. We're excited about what's next.' The firm has strengthened its leadership team with the appointment of four new partners. Michelle Murray has been promoted from principal manager to partner, Ged McLaughlin joins EQ to focus on corporate finance, Dougy Agnew joins the team to specialise in corporate tax and Hazel Burt brings a dual focus on personal tax compliance and consultancy. Royal Bank of Scotland owner NatWest plays down Trump effect Royal Bank of Scotland owner NatWest Group has raised its profit guidance against a backdrop of uncertainty in the global economy, as it downplayed the impact of Trump tariffs on the lender. The bank, which is on the cusp of a return to full private ownership following its £45.5 billion bail-out during the financial crisis, signalled its expectation that profits for this year will come in at the upper end of guidance. That came as NatWest reported an operating profit before tax of £1.8 billion for the three months ended March 31, ahead of market expectations and up from £1.3bn last year. Chief executive Paul Thwaite declared it had been a 'strong start to the year, further demonstrating the positive momentum' being built up by the bank, which he said 'reinforces the confidence we have in our future performance'. AROUND THE GREENS ⛳ For the love of golf's hickory history This article appears as part of Kristy Dorsey's Around the Greens series Previously employed in the financial services sector, Stuart Fraser set up his artisan clubmaking business as part-time gig during the Covid lockdowns and gave up his day job in November 2023 after finding a permanent home for the operation. The Hickory Golf Workshop is now celebrating its first anniversary, having restored more than 500 clubs to their former glory. It is opening the 2025 season with a new hickory-era golf ball making experience, along with the addition of traditional plus fours and bunnets for visitors to try on. Mr Fraser describes the workshop experience as a combination of "Scottish history, traditional craftsmanship, and storytelling with the chance to handle and play with authentic hickory-shafted clubs".
