Latest news with #Mintz
Yahoo
6 days ago
- Business
- Yahoo
Factbox-Foreign firms' executives entangled in Chinese probes
BEIJING (Reuters) -U.S. bank Wells Fargo has suspended all travel to China after one of its employees was barred from leaving the country, extending a trend of foreign executives caught up in probes by authorities that has chilled business sentiment. Below are some other recent examples: - A Beijing court this week sentenced a Japanese employee of Astellas Pharma to 3-1/2 years in prison. The man had been detained since March 2023 on suspicion of spying and had been indicted about a year ago. - In March, Chinese authorities released employees of U.S. corporate due diligence firm Mintz Group detained in Beijing two years ago. Five of the firm's local staff were detained in a raid that turned out to be the beginning of a sweeping crackdown on consultancy and due diligence firms, including Bain & Company's office in Shanghai. A Singaporean executive at Mintz was also prevented from leaving China, sources told Reuters. China fined Mintz about $1.5 million in July 2024 for doing "unapproved statistical work". - Anglo-Swedish pharmaceutical firm AstraZeneca saw its China president Leon Wang detained and placed under investigation in 2024, with little information about what the probe was about. Wang, who grew up in China, was a high-profile executive often quoted in the Chinese business press. AstraZeneca's CEO said in February that the company was not permitted to speak with Wang, who has been placed under extended leave since December. Chinese media had reported that AstraZeneca was under probe since 2021, suspected of fabricating genetic testing results related to the firm's lung cancer drug Tagrisso and of insurance fraud. - A senior Nomura Holdings banker overseeing the Japanese firm's investment banking operations in China was ordered not to leave the mainland, sources told Reuters in late 2023. The exit ban was lifted the following year allowing Charles Wang Zhonghe, China investment banking chairman at Nomura, to return to Hong Kong, where he was previously based, according to the Financial Times. - Michael Chan, a senior executive at U.S. risk advisory firm Kroll, was barred from leaving the Chinese mainland, the Wall Street Journal reported in September 2023. The Hong Kong passport holder was assisting in an investigation dating back a few years, the newspaper reported, citing people familiar with the matter. Neither Kroll nor Chan was the target of the investigation, according to the newspaper. - A Singapore-based UBS wealth manager was prevented from leaving China in 2018. The executive was asked to remain in the country to meet with local authorities, Reuters reported at that time. The uncertainty surrounding the exit ban on the wealth manager had led the Swiss bank and several of its rivals to require their private banking staff to carefully consider trips to China.
USA Today
09-07-2025
- Sport
- USA Today
What to make of Judah Mintz's first 3 summer league games for Sixers
With prized rookie VJ Edgecombe sidelined for the final two games of the Salt Lake City summer league, the Philadelphia 76ers got a chance to see what they have in Judah Mintz. Undrafted out of Syracuse, Mintz took the opportunity presented to him and he balled out. He had 21 points on 7-for-12 shooting including going 6-for-6 from the foul line in Monday's loss to the Oklahoma City Thunder before going for 26 points on 9-for-15 shooting and 8-for-9 from the foul line with three steals in Tuesday's win over the Memphis Grizzlies. All in all, Mintz averaged 18.7 points in the three games he played in Salt Lake City connecting on 21-for-23 on free throws and it was a big building block for him after he averaged 21.2 points in the G League playing for the Delaware Blue Coats. As the Sixers move forward in the summer league, one has to wonder what comes next for Mintz. He has a natural shiftiness to him and he has a knack for scoring the ball which has to make the Sixers wonder about giving him an opportunity when training camp rolls around in September. At the moment, the Sixers have three players on two-way deals: Jabari Walker, Hunter Sallis, and Dominick Barlow. One has to wonder if Philadelphia opens up a two-way slot to give Mintz a shot at the league. Especially, if he continues to score the ball this efficiently. He isn't much of a shooter--he shot only 26.6% from deep in the G League--but his ability to get into the paint and create angles cannot be ignored. If he continues this scoring barrage in Las Vegas, he will certainly be worth a look in camp. One option the Sixers could do is waive Ricky Council IV, who has a non-guaranteed contract, convert Walker, and give Mintz an opportunity. That isn't a report or anything, but it is a viable option for Philadelphia if it were to think about giving Mintz an opportunity. The Sixers could always use another ball-handler who can score off the bounce on the perimeter.
Vancouver Sun
24-06-2025
- Business
- Vancouver Sun
Premier Eby wants TMX at full capacity before discussion of another pipeline. Experts say it's close
B.C. Premier David Eby continues to say that before the province can discuss the potential for a bitumen pipeline to Prince Rupert, as demanded by Alberta, it needs to ensure the Trans Mountain Pipeline expansion is operating at full capacity. Experts, however, say that Eby's excuse for why a new pipeline shouldn't be built is flimsy as Trans Mountain is already at near capacity, though they acknowledge that building an oil pipeline to Prince Rupert will be costly and time-consuming, and might not be profitable in the long run. The premier said in appearances on CTV and CBC on Sunday that there is no proponent for a revival of a pipeline project along a similar route as the proposed Northern Gateway project, which was killed in 2016. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. He said Ottawa ultimately spent $34 billion to get the Trans Mountain expansion completed after Kinder Morgan backed out, and he doesn't want the federal government spend billions more on another pipeline. 'Why would we prioritize a massive public spend like that when more limited public spend could deliver additional capacity through the pipeline we already own, and so many projects that are ready to go with actual proponents and able to deliver in a short period of time?' Eby told CTV host Vassy Kapelos. Jack Mintz, an economist at the University of Calgary, says there are significant costs with building any pipeline and that regulatory challenges such as the ban on tankers off B.C.'s coast are major impediments. He believes the federal government should focus on easing the path for pipeline projects but neither invest in in them nor buy them outright. Mintz says there is still research needed on whether Alberta's bitumen can remain profitable given the $16.5 billion plan to decarbonize the oilsands. 'There may be some profitability for producers to sell decarbonized oil, but if they can get better profits investing in pipelines in the United States or other countries, they may prefer doing that to investing in a pipeline in Canada,' he said. 'From the estimates I've seen, oil could be $10 to $15 more expensive per barrel if it has to be subject to carbon capture and storage.' Mintz said that Eby is wrong about Trans Mountain not being at full capacity and that most pipelines never reach 100 per cent of rated capacity, as that allows allow oil to flow better. Trans Mountain's first-quarter report said the pipeline was at 85 per cent capacity at the end of March and plans are being discussed to add lubricants to the pipeline to increase the amount of oil that can flow from Edmonton to Burnaby for export. The company says this could boost capacity by as much as five to 10 per cent within a year to 18 months. Another idea being studied is to add more pumping stations to the pipeline, which could increase capacity by 250,000 barrels a day. That would take five years. Energy Minister Adrian Dix has said the province is open to the federal plan to dredge Burrard Inlet to allow ships to load with more oil at the Burnaby terminal. He increasing the capacity of Trans Mountain would cost between $3 billion and $4 billion, compared to the $50 billion estimated cost of a new pipeline. 'The northern pipeline would require a massive public subsidy. It doesn't make comparative sense,' said Dix. 'So from our perspective, we want to deal with serious projects, ones with actual proponents and that actually bring the country together. Projects like the work we're doing to improve the (electricity) intertie between B.C. and Alberta, projects like the North Coast Transmission Line, projects like the natural gas lines that have been part of our priority projects since the beginning of the tariff crisis.' Mark Jaccard, chair of the B.C. Utilities Commission, said that he doesn't have a strong opinion about whether or not building a pipeline to Prince Rupert is a good idea but that there is little reason to have this debate until a proponent comes forward. Where he disagrees with Eby is that such a project would require federal investment. 'I don't understand how, in a market economy, we need our governments to invest in pipelines. They should be stand-alone profitable investments,' said Jaccard, pointing out that Trans Mountain was a private venture before it ran into trouble and was bought by Ottawa. He also pointed to research showing that while the proposed benefit of a pipeline to Prince Rupert would be to increase exports to Asia, most forecasters say that it would be very difficult for Canada to move away from the U.S. being the primary market for Alberta oil and gas. Andy Hira, a political-science professor at Simon Fraser University, said another concern with a pipeline to Prince Rupert is the added emissions that Canada would be producing through exports. He urged Prime Minister Mark Carney and provincial leaders to instead focus on developing clean power sources such as wind, solar and hydro. He said that, ultimately, the focus should be on making Canada a green energy superpower, which will create economic benefits in the long-run as the transition away from fossil fuels continues. 'It's understandable that the federal and provincial governments in this time of economic consternation with U.S. pressure on us and the economy seemingly moving toward a recession, reach for this easy solution of building new pipelines,' said Hira. 'However, the Canadian government itself has said that beyond 2030 if we don't start to reduce emissions we will face annual losses of $35 billion, so you consider those amounts versus the amount of money that would be gained from building pipelines in terms of revenues, and it's kind of a no brainer.'
West Australian
12-06-2025
- Business
- West Australian
Cettire shares dive 30pc after flagging US tariff headwinds and softer consumer demand
Shares in Cettire are copping a beating after the online retailer warned volatility caused by US tariffs, weaker demand in established markets and a challenged luxury goods market have impacted profitability. The Dean Mintz-led business on Thursday said sales revenue of $693.8 million for the financial year to the end of May was up 1.7 per cent, compared with the prior corresponding period. Gross revenue lifted 2.2 per cent to $920.1m. In the trading update to the market, Cettire said the period was characterised by continued challenges in the global luxury market, amplified by US tariff policy changes, as well as weaker demand in established markets during April and May. It said there was moderation in its promotional activity, pointing to a soft June-quarter revenue performance. Cettire shares are down 29 per cent to 33¢ just after 10am. They are off nearly 80 per cent for the year so far. The Melbourne-based company — which sells products from more than 2500 luxury brands like Gucci, Christian Dior, Givenchy and Burberry — delivered a margin of about 16 per cent over the period, reflecting the continuation of heightened promotional activity. As a result, Cettire recorded adjusted earnings of $500,000. Mr Mintz said year-to-date profitability was impacted by volatile market conditions, including significant foreign exchange swings, which contributed around $2m of the negative adjusted earnings during April and May. This was in addition to the $2.1m announced in Cettire's third quarter trading update in April. 'The operating environment within the global personal luxury goods market since (the trading update in April) has remained volatile, with a continued softening of demand in the company's established markets, notably in the US,' Mr Mintz said. 'Recent results from luxury industry participants point to continued challenges in the sector, amplified by trade uncertainty surrounding US tariff policy. 'As a result, elevated promotional activity persists across the market. Against this backdrop, Cettire's focus remains on geographic revenue diversification and improving delivered margin percentage.' Active customers fell 1.3 per cent to 671,328.
Yahoo
30-05-2025
- General
- Yahoo
Truman air wing returns home after long, eventful trip to Red Sea
VIRGINIA BEACH — A long, eventful deployment reached the finish line Friday as the F/A-18s from the carrier Harry S. Truman flew in formation over Virginia Beach, as the crews' loved ones waited eagerly near the runway. After 8 1/2 months, Carrier Air Wing returned to Naval Air Station Oceana in Virginia Beach on Friday. 'I'm just so happy to be home,' said Capt. Leslie Mintz. 'I'm so happy everyone is home and reunited with their families.' The aircraft carrier and its strike group spent more than five months defending merchant mariners and military vessels from Houthi drones and missiles in the Red Sea and the Gulf of Aden. It lost three F/A-18s during that time, but no crew members. One of the fighter jets was shot down accidentally by friendly fire. A second fell overboard as the carrier made an abrupt turn while the jet was being towed. A third crashed into the Red Sea after the aircraft failed to land on the carrier. .'] Even after the incidents encountered while deployed, Mintz said one word she would use to describe the air wing would be perseverance. 'It is a bond that will never be broken, what we have done together,' Mintz said. Kendall Warner,
