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Brookfield Corporation Reports Strong Second Quarter Results and Announces Three-for-Two Stock Split
Distributable Earnings Before Realizations Increased 13% to $1.3 billion or $0.80 Per Share Over $55 billion of Asset Monetizations Since the Beginning of The Year Deployable Capital Increases to a Record $177 billion BROOKFIELD, NEWS, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Brookfield Corporation (NYSE: BN, TSX: BN) announced strong financial results for the quarter ended June 30, 2025. Nick Goodman, President of Brookfield Corporation, said, 'We had strong financial performance in the second quarter supported by the continued positive momentum across our core businesses and a significant increase in monetization activity. To date this year, we had over $55 billion of asset monetizations diversified across asset class and geography, returning substantial capital to our investors at excellent returns.' He continued, 'With a record $177 billion of deployable capital and an increasingly constructive market backdrop, we are well-positioned to capitalize on investment opportunities, drive strong organic earnings growth, and deliver 15%+ returns on a per share basis to our shareholders over the long term.' Operating Results Distributable earnings ('DE') before realizations increased by 13% over the prior year quarter. UNAUDITEDFor the periods ended June 30 Three Months Ended Last Twelve Months Ended (US$ millions, except per share amounts) 2025 2024 2025 2024 Net income (loss) of consolidated business1 $ 1,055 $ (285 ) $ 2,889 $ 3,403 Net income attributable to Brookfield shareholders2 272 43 841 1,074 Distributable earnings before realizations3 1,253 1,113 5,311 4,379 – Per Brookfield share3 0.8 0.71 3.36 2.77 Distributable earnings3 1,385 2,127 5,865 5,805 – Per Brookfield share3 0.88 1.35 3.71 3.67 See endnotes on page 9. Total consolidated net income was $1.1 billion for the quarter and $2.9 billion for the last twelve months ('LTM'). Distributable earnings before realizations were $1.3 billion ($0.80/share) for the quarter and $5.3 billion ($3.36/share) for the last twelve months. Our asset management business generated a 16% increase in fee-related earnings compared to the prior year quarter, supported by continued fundraising momentum across our diversified fund offerings. Wealth solutions delivered strong financial results, benefiting from strong investment performance and disciplined capital deployment. Our operating businesses continue to generate resilient and stable cash flows, supported by strong underlying operating fundamentals. During the quarter and LTM, earnings from realizations were $132 million and $554 million, with total DE for the quarter and the LTM of $1.4 billion ($0.88/share) and $5.9 billion ($3.71/share), respectively. Operating Highlights Distributable earnings before realizations were $1.3 billion ($0.80/share) for the quarter and $5.3 billion ($3.36/share) over the last twelve months, representing an increase of 13% on a per share basis over the prior year quarter. Total distributable earnings were $1.4 billion ($0.88/share) for the quarter and $5.9 billion ($3.71/share) over the last twelve months. Asset Management: DE was $650 million ($0.41/share) in the quarter and $2.7 billion ($1.72/share) over the LTM. Total inflows were $22 billion during the quarter, including over $5 billion from our retail and wealth solutions clients. With final closes anticipated for our fifth vintage flagship opportunistic real estate strategy and second vintage global transition strategy, we expect strong fundraising momentum to continue into the second half of 2025. Fee-bearing capital grew to $563 billion and resulted in fee-related earnings of $676 million, an increase of 10% and 16%, respectively, over the prior year quarter. Wealth Solutions: DE was $391 million ($0.25/share) in the quarter and $1.6 billion ($1.02/share) over the LTM. We originated over $4 billion of retail and institutional annuity sales during the quarter, increasing insurance assets to $135 billion. This quarter, we deployed $3.5 billion into Brookfield managed strategies across our portfolio at an average net yield of 8%. Our investment portfolio generated an average yield of 5.8%, allowing us to maintain strong spread earnings which were 1.8% higher than the average cost of funds. We ended the quarter with a strong liquidity and capital position, with total group capital of approximately $16 billion4. Last week, we announced the acquisition of Just Group, a U.K. leader in pension risk transfer solutions, building on the foundation established with the successful licensing and launch of our U.K. business earlier this year, enabling us to scale faster in a high-growth market and expand our geographical footprint. With this acquisition, our insurance assets are expected to grow by approximately $40 billion, significantly accelerating the growth of the business. Operating Businesses: DE was $350 million ($0.22/share) in the quarter and $1.7 billion ($1.07/share) over the LTM. Cash distributions from our operating businesses were supported by strong underlying fundamentals and resilient operating earnings. We signed a landmark agreement with Google to deliver up to 3,000 megawatts of hydroelectric capacity across the U.S., a first of its kind partnership that demonstrates our relationships with the world's largest buyers of power. In our real estate business, despite short-term softness in North American residential, fundamentals continue to strengthen. We signed nearly 4 million square feet of office and retail leases during the quarter, reflecting both strong tenant demand and limited availability for our premium space. Our core office and retail portfolio are 94% and 97% leased, respectively. For the limited remaining space we have, we are actively engaged in leasing discussions at rents significantly above expiring levels. Earnings from the monetization of mature assets were $132 million ($0.08/share) for the quarter and $554 million ($0.35/share) over the LTM. To date this year, we sold over $55 billion of asset sales across the business, including over $35 billion since last quarter. Substantially all sales were completed at or above our carrying values, monetizing significant value for our clients at attractive returns. Monetization activity since last quarter included $12 billion of real estate assets, including the single largest real estate transaction in Australia ever, approximately $9 billion of infrastructure assets, including one of the U.K.'s largest port businesses, nearly $6 billion of renewable assets reflecting sustained global demand for renewables, and approximately $9 billion in other diversified assets across our operating businesses. We realized $129 million of carried interest into income as a result of this activity, and importantly moved a number of our funds closer to carried interest realization. Total accumulated unrealized carried interest was $11.3 billion at quarter end, net of $487 million realized into income over the LTM. As we continue to see momentum in transaction activity, we expect to realize significant carried interest into income over the next few years. We ended the quarter with a record $177 billion of capital available to deploy into new investments. We have record deployable capital of $177 billion, which includes $71 billion of cash, financial assets and undrawn credit lines at the Corporation, our affiliates and our wealth solutions business. Our balance sheet remains conservatively capitalized. Our corporate debt at the Corporation has a weighted-average term of 14 years, and today, we have no maturities through the end of 2025. We maintained strong access to the capital markets and executed $94 billion of financings so far this year, including $53 billion of financings this quarter, further bolstering our capital structure and liquidity. A few recent highlights include: Brookfield Renewable Partners issued C$250 million of 30-year notes, Brookfield Infrastructure Partners issued $250 million of 30-year subordinated notes and Brookfield Asset Management completed its inaugural offering and issued $750 million of 10-year senior notes. All three offerings were met with strong investor demand reflecting market confidence in each business. In our renewable power and transition business, we secured €6.3 billion in project financing for our offshore wind development in Poland, our largest project financing done to date within this business. In our private equity business, we raised approximately $2.1 billion of debt for our modular leasing services platform, completed a refinancing for $1.2 billion at our advanced energy storage business, and completed a $900 million repricing for our electric heat tracing manufacturer business. In real estate, we successfully refinanced a $2.4 billion five-year loan for the world's largest open- air shopping center in the U.S., and refinanced a hotel in downtown Toronto for C$425 million, fully repatriating all our equity and more, while retaining 100% ownership of the asset. We also issued €300 million of high-yield bonds through our German office REIT, reflecting increasing lender appetite for office financings. During the quarter, we returned $432 million of capital to our shareholders via regular dividends and share repurchases. Since last quarter, we repurchased over $300 million of Class A shares in the open market at an average price of $49.03, which represents a 52% discount to our view of intrinsic value at quarter end of $ Stock Split The Board of Directors approved a three-for-two stock split of the outstanding Brookfield Corporation Class A Limited Voting Shares ('Class A Shares'). Brookfield Corporation is undertaking the stock split to ensure its shares remain accessible to individual shareholders and to improve the liquidity of the shares. Importantly, the stock split is not dilutive to shareholders. The stock split will be implemented by way of a stock dividend which will be payable on October 9, 2025, to shareholders of record at the close of business on October 3, 2025. Each shareholder will receive one-half of a Class A Share for each Brookfield Corporation Class A and Class B Limited Voting Share held by them (i.e. one additional share for every two shares held). Fractional shares will be paid in cash based on the closing price of the Class A Shares on the Toronto Stock Exchange on October 3, 2025. From market open on Friday, October 3, 2025 and until market close on Thursday, October 9, 2025, both trading days inclusive, the Class A Shares will trade on a due bill basis on the Toronto Stock Exchange and the New York Stock Exchange. During this due bill trading period, the Class A Shares will carry the right to receive the additional shares to be issued in connection with the stock dividend. From market open on Friday, October 10, 2025, the post-split (ex-dividend) Class A Shares will commence trading on the Toronto Stock Exchange and the New York Stock Exchange. Based on the manner in which the stock split will be implemented, no Canadian or U.S. federal income tax is expected to be payable by shareholders, except in the case of cash received in lieu of fractional shares. Brookfield Wealth Solutions announced a concurrent three-for-two split of its class A exchangeable shares in order to maintain their economic equivalence to Brookfield Corporation's Class A Shares. Regular Dividend Declaration The Board declared a quarterly dividend for Brookfield Corporation of $0.09 per share, payable on September 29, 2025 to shareholders of record as at the close of business on September 12, 2025. The first dividend payable post-split will occur on December 31, 2025, subject to Board approval. The Board also declared the regular monthly and quarterly dividends on our preferred shares. CONSOLIDATED BALANCE SHEETS Unaudited(US$ millions) June 302025 December 312024 Assets Cash and cash equivalents $ 13,703 $ 15,051 Other financial assets 29,968 25,887 Accounts receivable and other 51,645 40,509 Inventory 9,259 8,458 Equity accounted investments 72,179 68,310 Investment properties 90,910 103,665 Property, plant and equipment 155,640 153,019 Intangible assets 39,946 36,072 Goodwill 38,664 35,730 Deferred income tax assets 4,154 3,723 Total Assets $ 506,068 $ 490,424 Liabilities and Equity Corporate borrowings $ 14,973 $ 14,232 Accounts payable and other 65,932 60,223 Non-recourse borrowings of managed entities 235,661 220,560 Subsidiary equity obligations 3,395 4,759 Deferred income tax liabilities 24,462 25,267 Equity Non-controlling interests $ 115,049 $ 119,406 Preferred equity 4,103 4,103 Common equity 42,493 161,645 41,874 165,383 Total Equity 161,645 165,383 Total Liabilities and Equity $ 506,068 $ 490,424 CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited Three Months Ended Six Months Ended For the periods ended June 30(US$ millions, except per share amounts) 2025 2024 2025 2024 Revenues $ 18,083 $ 23,050 $ 36,027 $ 45,957 Direct costs1 (11,381 ) (16,717 ) (22,376 ) (33,288 ) Other income and gains 30 244 618 484 Equity accounted income 467 825 986 1,511 Interest expense – Corporate borrowings (188 ) (181 ) (367 ) (354 ) – Non-recourse borrowings Same-store (4,092 ) (3,995 ) (8,005 ) (7,950 ) Dispositions, net of acquisitions2 296 — 483 — Upfinancings2 (269 ) — (525 ) — Corporate costs (20 ) (19 ) (38 ) (36 ) Fair value changes 797 (753 ) (27 ) (595 ) Depreciation and amortization (2,534 ) (2,435 ) (4,989 ) (4,910 ) Income tax (134 ) (304 ) (517 ) (585 ) Net income (loss) 1,055 (285 ) 1,270 234 Net (income) loss attributable to non-controlling interests (783 ) 328 (925 ) (89 ) Net income attributable to Brookfield shareholders $ 272 $ 43 $ 345 $ 145 Net income per share Diluted $ 0.15 $ — $ 0.17 $ 0.04 Basic 0.15 — 0.18 0.04 Direct costs disclosed above exclude depreciation and amortization expense. Interest expense from dispositions, net of acquisitions, and upfinancings completed over the twelve months ended June 30, 2025. SUMMARIZED FINANCIAL RESULTS DISTRIBUTABLE EARNINGS UnauditedFor the periods ended June 30 Three Months Ended Last Twelve Months Ended (US$ millions) 2025 2024 2025 2024 Asset management $ 650 $ 636 $ 2,722 $ 2,540 Wealth solutions 391 292 1,606 1,000 BEP 113 107 440 421 BIP 89 84 346 327 BBU 6 9 29 36 BPG 140 172 872 735 Other 2 (1 ) 7 (45 ) Operating businesses 350 371 1,694 1,474 Corporate costs and other (138 ) (186 ) (711 ) (635 ) Distributable earnings before realizations1 1,253 1,113 5,311 4,379 Realized carried interest, net 129 51 487 428 Disposition gains from principal investments 3 963 67 998 Distributable earnings1 $ 1,385 $ 2,127 $ 5,865 $ 5,805 1. Non-IFRS measure – see Non-IFRS and Performance Measures section on page OF NET INCOME TO DISTRIBUTABLE EARNINGS UnauditedFor the periods ended June 30 Three Months Ended Last Twelve Months Ended (US$ millions) 2025 2024 2025 2024 Net income (loss) $ 1,055 $ (285 ) $ 2,889 $ 3,403 Financial statement components not included in DE: Equity accounted fair value changes and other items 1,321 444 3,879 2,468 Fair value changes and other (652 ) 797 2,081 2,840 Depreciation and amortization 2,534 2,435 9,816 9,583 Disposition gains in net income (203 ) (110 ) (1,694 ) (4,736 ) Deferred income taxes (262 ) (55 ) (663 ) (753 ) Non-controlling interests in the above items1 (2,577 ) (2,233 ) (11,028 ) (8,610 ) Less: realized carried interest, net (129 ) (51 ) (487 ) (428 ) Working capital, net 166 171 518 612 Distributable earnings before realizations2 1,253 1,113 5,311 4,379 Realized carried interest, net3 129 51 487 428 Disposition gains from principal investments 3 963 67 998 Distributable earnings2 $ 1,385 $ 2,127 $ 5,865 $ 5,805 DE is a non-IFRS measure proportionate to the interests of shareholders and therefore excludes items in income attributable to non-controlling interests in non-wholly owned subsidiaries. Non-IFRS measure – see Non-IFRS and Performance Measures section on page 9. Includes our share of Oaktree's distributable earnings attributable to realized carried interest. EARNINGS PER SHARE Unaudited Three Months Ended Last Twelve Months Ended For the periods ended June 30(millions, except per share amounts) 2025 2024 2025 2024 Net income (loss) $ 1,055 $ (285 ) $ 2,889 $ 3,403 Non-controlling interests (783 ) 328 (2,048 ) (2,329 ) Net income attributable to shareholders 272 43 841 1,074 Preferred share dividends1 (42 ) (42 ) (166 ) (168 ) Net income available to common shareholders 230 1 675 906 Dilutive impact of exchangeable shares of affiliate 3 — 12 9 Net income available to common shareholders including dilutive impact of exchangeable shares $ 233 $ 1 $ 687 $ 915 Weighted average shares 1,496.2 1,509.6 1,504.0 1,532.6 Dilutive effect of conversion of options and escrowed shares using treasury stock method2 and exchangeable shares of affiliate3 76.5 26.4 77.8 49.9 Shares and share equivalents 1,572.7 1,536.0 1,581.8 1,582.5 Diluted earnings per share $ 0.15 $ — $ 0.43 $ 0.58 Excludes dividends paid on perpetual subordinated notes of $2 million (2024 – $2 million) and $10 million (2024 – $10 million) for the three and twelve months ended June 30, 2025, which are recognized within net income attributable to non-controlling interests. Includes management share option plan and escrowed stock plan. Due to its anti-dilutive effect on EPS for the three months ended June 30, 2024, the exchange of BWS Class A shares has been excluded from the diluted EPS calculation. Additional Information The Letter to Shareholders and the company's Supplemental Information for the three and twelve months ended June 30, 2025, contain further information on the company's strategy, operations and financial results. Shareholders are encouraged to read these documents, which are available on the company's website. The statements contained herein are based primarily on information that has been extracted from our financial statements for the periods ended June 30, 2025, which have been prepared using IFRS Accounting Standards, as issued by the International Accounting Standards Board ('IASB'). The amounts have not been audited by Brookfield Corporation's external auditor. Brookfield Corporation's Board of Directors has reviewed and approved this document, including the summarized unaudited consolidated financial statements prior to its release. Information on our dividends can be found on our website under Stock & Distributions/Distribution History. Quarterly Earnings Call DetailsInvestors, analysts and other interested parties can access Brookfield Corporation's 2025 Second Quarter Results as well as the Shareholders' Letter and Supplemental Information on Brookfield Corporation's website under the Reports & Filings section at To participate in the Conference Call today at 10:00 a.m. ET, please pre-register at Upon registering, you will be emailed a dial-in number, and unique PIN. The Conference Call will also be webcast live at p/fm67q8c9. For those unable to participate in the Conference Call, the telephone replay will be archived and available until August 7, 2026. To access this rebroadcast, please visit: fm67q8c9. About Brookfield CorporationBrookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate. We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN). Please note that Brookfield Corporation's previous audited annual and unaudited quarterly reports have been filed on EDGAR and SEDAR+ and can also be found in the investor section of its website at Hard copies of the annual and quarterly reports can be obtained free of charge upon request. For more information, please visit our website at or contact: Media:Kerrie McHughTel: (212) 618-3469Email: Investor Relations:Katie BattagliaTel: (416) 359-8544Email: Non-IFRS and Performance MeasuresThis news release and accompanying financial information are based on IFRS Accounting Standards, as issued by the IASB, unless otherwise noted. We make reference to Distributable Earnings ('DE'). We define DE as the sum of distributable earnings from our asset management business, distributable operating earnings from our wealth solutions business, distributions received from our ownership of investments, realized carried interest and disposition gains from principal investments, net of earnings from our Corporate Activities, preferred share dividends and equity-based compensation costs. We also make reference to DE before realizations, which refers to DE before realized carried interest and realized disposition gains from principal investments. We believe these measures provide insight into earnings received by the company that are available for distribution to common shareholders or to be reinvested into the business. Realized carried interest and realized disposition gains are further described below: Realized Carried Interest represents our contractual share of investment gains generated within a private fund after achieving our clients' minimum return requirements. Realized carried interest is determined on third-party capital that is no longer subject to future investment performance. Realized Disposition Gains from Principal Investments are included in DE because we consider the purchase and sale of assets from our directly held investments to be a normal part of the company's business. Realized disposition gains include gains and losses recorded in net income and equity in the current period, and are adjusted to include fair value changes and revaluation surplus balances recorded in prior periods which were not included in prior period DE. We use DE to assess our operating results and the value of Brookfield Corporation's business and believe that many shareholders and analysts also find this measure of value to them. We may make reference to Operating Funds from Operations ('Operating FFO'). We define Operating FFO as the company's share of revenues less direct costs and interest expenses; excludes realized carried interest and disposition gains, fair value changes, depreciation and amortization and deferred income taxes; and includes our proportionate share of FFO from operating activities recorded by equity accounted investments on a fully diluted basis. We may make reference to Net Operating Income ('NOI'), which refers to our share of the revenues from our operations less direct expenses before the impact of depreciation and amortization within our real estate business. We present this measure as we believe it is a key indicator of our ability to impact the operating performance of our properties. As NOI excludes non-recurring items and depreciation and amortization of real estate assets, it provides a performance measure that, when compared to prior periods, reflects the impact of operations from trends in occupancy rates and rental rates. We disclose a number of financial measures in this news release that are calculated and presented using methodologies other than in accordance with IFRS. These financial measures, which include DE, should not be considered as the sole measure of our performance and should not be considered in isolation from, or as a substitute for, similar financial measures calculated in accordance with IFRS. We caution readers that these non-IFRS financial measures or other financial metrics are not standardized under IFRS and may differ from the financial measures or other financial metrics disclosed by other businesses and, as a result, may not be comparable to similar measures presented by other issuers and entities. We provide additional information on key terms and non-IFRS measures in our filings available at End Notes________________________________________ Consolidated basis – includes amounts attributable to non-controlling interests. Excludes amounts attributable to non-controlling interests. See Reconciliation of Net Income to Distributable Earnings on page 6 and Non-IFRS and Performance Measures section on page 9. Total group capital of approximately $16 billion includes capital within insurance subsidiaries of $13.4 billion calculated on an aggregate basis, one quarter in arrears, and in accordance with applicable insurance regulations. It also includes $2.5 billion of capital in group holding companies. Brookfield Corporation is not making any offer or invitation of any kind by communication of this news release and under no circumstance is it to be construed as a prospectus or an advertisement. This news release contains 'forward-looking information' within the meaning of Canadian provincial securities laws and 'forward-looking statements' within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and in any applicable Canadian securities regulations (collectively, 'forward-looking statements'). Forward- looking statements include statements that are predictive in nature, depend upon or refer to future results, events or conditions, and include, but are not limited to, statements which reflect management's current estimates, beliefs and assumptions regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies, capital management and outlook of Brookfield Corporation and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and which in turn are based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. The estimates, beliefs and assumptions of Brookfield Corporation are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and as such, are subject to change. Forward-looking statements are typically identified by words such as 'expect,' 'anticipate,' 'believe,' 'foresee,' 'could,' 'estimate,' 'goal,' 'intend,' 'plan,' 'seek,' 'strive,' 'will,' 'may' and 'should' and similar expressions. In particular, the forward-looking statements contained in this news release include statements referring to the impact of current market or economic conditions on our business, the future state of the economy or the securities market, the anticipated allocation and deployment of our capital, our fundraising targets, our target growth objectives and the impact of acquisitions and dispositions on our business. Although Brookfield Corporation believes that such forward-looking statements are based upon reasonable estimates, beliefs and assumptions, actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (i) returns that are lower than target; (ii) the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business; (iii) the behavior of financial markets, including fluctuations in interest and foreign exchange rates and heightened inflationary pressures; (iv) global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; (v) strategic actions including acquisitions and dispositions; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits; (vi) changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); (vii) the ability to appropriately manage human capital; (viii) the effect of applying future accounting changes; (ix) business competition; (x) operational and reputational risks; (xi) technological change; (xii) changes in government regulation and legislation within the countries in which we operate; (xiii) governmental investigations and sanctions; (xiv) litigation; (xv) changes in tax laws; (xvi) ability to collect amounts owed; (xvii) catastrophic events, such as earthquakes, hurricanes and epidemics/pandemics; (xviii) the possible impact of international conflicts and other developments including terrorist acts and cyberterrorism; (xix) the introduction, withdrawal, success and timing of business initiatives and strategies; (xx) the failure of effective disclosure controls and procedures and internal controls over financial reporting and other risks; (xxi) health, safety and environmental risks; (xxii) the maintenance of adequate insurance coverage; (xxiii) the existence of information barriers between certain businesses within our asset management operations; (xxiv) risks specific to our business segments including asset management, wealth solutions, renewable power and transition, infrastructure, private equity, real estate and corporate activities; and (xxv) factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States. We caution that the foregoing list of important factors that may affect future results is not exhaustive and other factors could also adversely affect future results. Readers are urged to consider these risks, as well as other uncertainties, factors and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements, which are based only on information available to us as of the date of this news release or such other date specified herein. Except as required by law, Brookfield Corporation undertakes no obligation to publicly update or revise any forward- looking statements, whether written or oral, that may be as a result of new information, future events or otherwise. Past performance is not indicative nor a guarantee of future results. There can be no assurance that comparable results will be achieved in the future, that future investments will be similar to historic investments discussed herein, that targeted returns, growth objectives, diversification or asset allocations will be met or that an investment strategy or investment objectives will be achieved (because of economic conditions, the availability of appropriate opportunities or otherwise). Target returns and growth objectives set forth in this news release are for illustrative and informational purposes only and have been presented based on various assumptions made by Brookfield Corporation in relation to the investment strategies being pursued, any of which may prove to be incorrect. There can be no assurance that targeted returns or growth objectives will be achieved. Due to various risks, uncertainties and changes (including changes in economic, operational, political or other circumstances) beyond Brookfield Corporation's control, the actual performance of the business could differ materially from the target returns and growth objectives set forth herein. In addition, industry experts may disagree with the assumptions used in presenting the target returns and growth objectives. No assurance, representation or warranty is made by any person that the target returns or growth objectives will be achieved, and undue reliance should not be put on them. No statements contained herein with respect to tax consequences are intended to be, or should be construed to be, legal or tax advice, and no representation is made with respect to tax consequences. Shareholders are urged to consult their legal and tax advisors with respect to their circumstances. When we speak about our wealth solutions business or Brookfield Wealth Solutions, we are referring to Brookfield's investments in this business that supported the acquisitions of its underlying operating subsidiaries.
The Irish Sun
02-08-2025
- Climate
- The Irish Sun
Exact time Storm Floris will hit Ireland amid ‘weather bomb' fears as Met Eireann pinpoint worst counties in 3 alerts
DANGEROUS Storm Floris could hit weather bomb levels - as Met Eireann put the worst-hit counties on yellow alert. The But weather experts warned that these early warnings could still be upgraded as the storm's track becomes clearer. A yellow wind warning for Clare, Galway, Mayo and Sligo will be in place from 2am until 1pm on Monday. Met Eireann warned the public to expect "dangerous travelling conditions, outdoor events may be impacted, structural damage, fallen trees, debris and loose objects, power outages and wave overtopping". Donegal, Galway, Leitrim, Mayo and Sligo will be on alert for heavy rain and potential lightning damage from 2am until 10am on Monday. READ MORE IN NEWS And Cavan, Donegal, Monaghan and Leitrim will be under a slightly later Status Yellow wind warning, in place from 4am on Monday. Weather chiefs warned Storm Floris will bring "very strong and blustery southwest winds veering westerly, with some damaging gusts". UK Met Office meteorologists yesterday said Floris could qualify as a "weather bomb" due to predicted air pressure levels before and during the storm, meaning the winds at the storm's centre would be extremely strong. Met Eireann yesterday urged the public to take extreme care due to the latest major weather event striking over the August bank holiday weekend. Most read in The Irish Sun Forecaster Andrew Doran-Sherlock said: "Storm Floris will bring a spell of wet and unseasonably windy weather, particularly for northwestern areas, through Sunday night and into Monday. "However, there is still some uncertainty in the details so the full impacts of the system cannot yet be determined. "By Saturday though, the event will be within the range of our high-resolution DINI forecasting model and warnings will be issued.' However, as this is a public holiday weekend with a large number of outdoor events and with many people going camping, etc, and with an increased usage of temporary structures such as tents, more people will be at a greater risk of exposure than would normally be the case. "And while we are in a period of neap tides, with lowest tidal ranges of this cycle expected on Sunday and Monday, strong onshore winds and high waves may cause wave overtopping in low-lying coastal areas in the northwest and west. "Our advice would be to pay attention to the weather forecasts and warnings issued over the weekend and take them into consideration with any plans you have. And as always, please heed the advice of local authorities."
The Irish Sun
01-08-2025
- Sport
- The Irish Sun
Dad who died in Cork workplace accident ‘made far greater impact than he ever realised', funeral told in son's tribute
A DAD-of-four who died in a workplace accident was his family's "guide, protector and steady hand", his son told mourners at his requiem mass today. Pat Corcoran, 68, was He was transferred to the hospital following an accident at a family owned packaging and pallet company in Clondrohid, which is four miles north of At his requiem mass in St Abina's Church in Clondrohid today his son Brian joked that although he was born in 1997 the highlight of the year for his father was training Dingle Derby winner 'Fiona's Choice.' He said: 'I would often hear the full run down. "The mare he got ready in 21 days through pure horsemanship and dedication to get the mare in the condition she was in in such a short amount of time. READ MORE IN NEWS "She won in a photo finish which showed he just managed to get her over the line. "He had a great love for horse racing. Particularly Point to Point. "Even on the day of my sister Louise's christening he managed to get to a Point to Point that evening where he said his luck was in and it paid for the christening. "Myself and my fiancée Katie got engaged in May of last year. When I informed Dad that the chosen month for the wedding was March 2026 he looked over at Katie and said 'It's hardly the week of Cheltenham is it?' MOST READ IN THE IRISH SUN "It is hard to picture a race day without thinking of him there having the chat, putting on the bet and hoping to come home with a few extra pounds in the pocket to cover a bag of chips.' Brian said: 'Our father was our guide, protector and a steady hand. 'PAT WAS ALWAYS THERE TO HELP' 'We always knew we were deeply loved. Our Mom, Mary T, was his constant. Together they built a home of love, laughter and loyalty. "Dad didn't need a stage or a spotlight. His greatness was in the quiet way that he lived his life. "By showing up, by giving his all and by being there for the people who mattered. In doing so he made a far greater impact than he ever realised.' He added that was he was grateful for the support of family, friends, the emergency services, hospital staff and the work colleagues of his father at Mid Cork Pallets. Celebrant Fr Jimmy Greene He said: 'Pat was a kind man, considerate of others and if there was any job that needed doing Pat was always there to help. He was a happy man.' Offertory gifts included a copy of the Irish Field, an apple tart, a family picture, a work jacket and a Mr Corcoran is survived by his wife Mary T, children Louise, Fiona, Jack and Brian and their partners, his brother and two sisters, best friend Jim Scriven, work colleagues, extended family and friends. He was laid to rest at Clondrohid cemetery following mass today. 1 Pat passed away earlier this week Credit: RIP Collect
The Irish Sun
31-07-2025
- The Irish Sun
Inside world's BIGGEST shopping centre that now lies abandoned with rusting rollercoasters, canals & 2,000 empty shops
A HUGE shopping centre that once boasted canals and was designed to be the "biggest in the world" now lies empty after visitor numbers collapsed. The mega building had room for more than 2,000 shops and its very own theme park – complete with Advertisement 4 Vast swathes of the New South China Mall are empty The New South China Mall in Dongguan was expected to be the 'busiest' in the world when it opened in 2004. However, recent footage from inside the building shows vast swathes of empty retail units. The 7million sqft shopping centre was designed like a 'small city' with themed areas based on Paris, Venice and California. Shoppers could travel around on gondolas or even visit the massive cinema. Advertisement READ MORE IN NEWS The location however is said to be part of the reason why the mall has struggled over the years. 'The city of Dongguan is full of factory workers and low income families, not the wealthy shoppers the mall was trying to attract," reports Built To Collapse. 'On top of that, the mall was built far from busy areas. It didn't have good public transport and even people living in the city found it hard to get there.' 4 The shopping centre underwent a huge renovation in 2015 Advertisement In 2008, it was forecast that around 99 per cent of the mall was left empty, leading to it being dubbed a 'ghost mall'. Most read in The Sun Latest Exclusive The shopping centre underwent a huge renovation in 2015 and saw an uplift in occupancy. However, when YouTuber Nico visited last year, she found that while some parts of the mall were 'thriving,' others were struggling. Horror vids show floods swamp China turning roads into rapids with at least 38 killed and 80k evacuated from Beijing She discovered parts of the upper floors were still being renovated. Advertisement Nico and her husband Jack also found the theme park had shut down when they visited, with a letter explaining the operator's lease had expired. Jack commented: 'If we'd come just a few weeks before we could have gone on the train track, we could have gone on the go-karts, we could have gone and stroked the dinosaur.' 4 There are dozens of empty shops in the New South China Mall in Dongguan Nico and Jack also found problems with the mall's location. Advertisement Nico added: 'It's nowhere near any public transport and Shenzhen and Guangzhou have quite a few malls anyway, so why would people come this far?' Nico says she had heard the $1.31bn mall had seen a spike in occupancy but found a different picture when she visited. She explained: 'I did read that this mall is almost at full capacity but I think that's a bit of BS because there are a lot of shops and empty retail spaces, especially in the second and third floor of this building. 'But, on the ground floor though, that is thriving and there's loads and loads of stuff down there.' Advertisement 4 The South China Mall was the brainchild of instant noodle billionaire Hu Guirong Nico says the decision to move away from luxury shops into businesses that could be sustained by the local population meant it became 'more appealing' for people in Dongguan, such as nail bars and smaller stores. The South China Mall was the brainchild of instant noodle billionaire Hu Guirong. It remains the fifth-largest shopping centre in the world. Advertisement 'A shopper's paradise' - inside the Iran Mall The largest shopping centre in the world is currently occupied by the Iran Mall in Tehran, which boasts more than 3,410,000 sqft of shopping space. The Iran Mall opened in 2018 and is home to more than 2,500 shops. It has space to park around 20,000 cars. The shopper's paradise has everything from gourmet food stalls to the fanciest shops around - despite being in a very surprising location. The sheer size of the entire mega mall complex takes up the same size as 246 football pitches as it stretches across 21 million sq ft. It is located near to Lake Chitgar in the capital city of Tehran. The centre was opened in 2018 after 25,000 workers spent four years on construction. It has been designed to showcase the best modern interpretation of Iranian Islamic architecture. This has been done through crafted dome roofs, technical arches and hundreds of traditional Iranian ornaments.
The Irish Sun
31-07-2025
- Business
- The Irish Sun
‘Targeted' social welfare increase latest after Child Benefit plot in ‘key' budget move as shock report details poverty
TARGETED social welfare supports are "essential" in Budget 2026 for Irish families at highest risk of poverty, experts have claimed. The Economic and Social Research Institute made the claim after it published a shocking report on the complexities of income poverty. Almost a fifth of people were deemed at risk of On average, 22 per cent of the population experienced deprivation at least once in two consecutive years from 2016 to 2023. And almost half of these were in persistent deprivation, slightly less than a third were exiting deprivation and about a quarter were entering deprivation. The study noted that there was a post-pandemic spike observed amongst lone-parent families, 30 to 65-year-old single people, adults above 65, and especially amongst single people over 65. READ MORE IN NEWS It found that one parent families, large families, and households with a working-age adult with a disability faced the highest risks of persistent at-risk-of-poverty rate and deprivation. And children in lone parent families, in particular, are most at risk. An average of 33 per cent of them are persistently deprived, and 21 per cent are persistently at-risk-of-poverty, between 2016 and 2023. The report said that implementing 'targeted' policy measures to support lone parents, large families, and households with a person with disabilities is essential to help those at high risk of poverty. Most read in Money It said timely adjustments to social welfare payments, including pensions, would be 'critical' to New online application system opens for €360 or €180 Domiciliary Care Allowance applications The ESRI previously found that Ireland's system of child-related cash and in-kind benefits has significantly reduced child income poverty and deprivation. And considering further ways to reduce child poverty, the researchers called for a second tier of means-tested Child Benefit, claiming it would be the "most cost-effective option". CHILD BENEFIT CALLS The call comes after the government confirmed it is "working on" a second-tier of the monthly €140 Child Benefit is a universal payment, meaning Irish parents can receive the cash regardless of their income and PRSI record up until a child is 18. A second tier of the social welfare payment would lift 55,000 children out of income poverty and bring 25,000 more from consistent poverty. The 'LARGE FAMILIES MOST AT RISK' Co-author Anousheh Alamir said today's report highlighted 'the complex nature of poverty'. She also said it spotlighted how different groups face different risks over various time periods. She said: "Over two year stretches, lone parent families and households with a disabled adult are found to be the most at risk of income poverty and/or material deprivation for one year only. 'And while they are also the most likely to be materially deprived two years in a row, large families are the most at risk of income poverty during that time. 'Thus, different groups are vulnerable to different forms and durations of poverty, an insight that should be key for effective policy.' 1 The annual risk of poverty declined last year Credit: Getty Images
