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CBC
4 hours ago
- CBC
Province to inject $200M to electrify LNG project near Kitimat
The province has announced it will be subsidizing the electrification of the Cedar LNG project in northwest B.C. Premier David Eby says the LNG sector could inject billions into the economy and help Canada become an energy superpower. But as CBC's Katie DeRosa reports, the Green Party is accusing the NDP government of "greenwashing."
Japan Forward
7 hours ago
- Japan Forward
Scuttled Seven-Eleven Deal Offers Lesson in Takeover Defense
このページを 日本語 で読む Convenience store giant Alimentation Couche-Tard was pushing to acquire Japan-based Seven & i Holdings, owner of the ubiquitous Seven-Eleven convenience stores. However, the Canadian company withdrew its takeover offer on July 16. Couche-Tard cited a "lack of constructive discussions" as the reason for withdrawing its bid. It also criticized management at Seven & i Holdings for an inadequate response to its earlier offer. But, it also denied there is any possibility of it launching a hostile takeover bid. Seven & i Holdings will now be free to pursue its own independent course. However, the company's shares have yet to surpass the price level they held on the day before Couche-Tard withdrew its takeover bid. This could indicate that the market is skeptical of Seven & i's ability to achieve growth on its own. The company now needs to demonstrate a compelling strategy for adding value. Executives from Canada's Alimentation Couche-Tard at a press conference on March 13 in Tokyo. (©Sankei by Ikue Mio) Couche-Tard's takeover bid became public knowledge in August 2024. Subsequently, the Canadian company boosted its offer to ¥7 trillion JPY ($46 billion USD at the time). Due to the weak yen, foreign companies appeared eager to acquire Japanese companies. Couche-Tard's takeover attempt became a symbolic example of this trend. Although the takeover bid for Seven & i Holdings has been withdrawn, Japanese company executives should recognize that the basic situation has not changed. Companies that have growth potential but are unable to increase their corporate value are at risk of being acquired and should be managed with a sense of crisis. In order to avoid being bought up, such businesses need to pursue structural reforms and improve their market valuation. Gradually, the longstanding tendency for companies to engage in crossholding shares with other companies to strengthen relationships with business partners is being eliminated. Japanese companies should instead realize that the best takeover defense is to improve profitability and raise their share prices. A Seven & i Holdings sign in Tokyo. As activist shareholders become more prominent, Japanese companies are increasingly looking to return profits to shareholders. That includes strategically buying back their own shares to boost stock prices. But there is no guarantee that stock prices inflated through such shareholder buybacks can be maintained. Moreover, excessive shareholder buyouts can result in outflows of growth capital. To effectively raise equity prices, it is essential to enhance real earning power through R&D, capital investment, mergers and acquisitions, and other such means. Sustainable growth also necessitates rewarding employees with wage increases. As important, companies must appropriately pass on increased costs through the prices offered to trading partners in the supply chain. Companies must look for growth strategies that will lead to increased corporate value over the medium- to long-term. Author: Editorial Board, The Sankei Shimbun このページを 日本語 で読む
Calgary Herald
7 hours ago
- Calgary Herald
Russia brushes aside new Trump deadline for a truce in Ukraine
(Bloomberg) — The Kremlin said it 'took note' of Donald Trump's threat to sharply curtail a deadline for Vladimir Putin to halt his war in Ukraine, though it made clear the Russian president is unlikely to change course. Article content 'I would like to avoid making any judgments' about Trump's statement, Kremlin spokesman Dmitry Peskov told reporters Tuesday. Russia is continuing the war and is also committed to resolving the conflict 'and to ensure our interests in the course of this settlement,' he said. Article content Article content Trump threatened Monday to impose secondary sanctions within 10-12 days on countries buying Russian exports including energy unless Putin accepts a ceasefire, instead of the 50 days he announced earlier this month. 'There's no reason to wait. If you know what the answer is,' he said. Article content Article content The US president has voiced mounting frustration at Putin's refusal to agree to a truce in Ukraine to allow for peace talks, after he returned to the White House in January on a campaign pledge to swiftly end the war that's now in its fourth year. Six phone calls between the two leaders have produced little progress and intensifying Russian missile and drone attacks on Ukraine in recent weeks have added to US perceptions that Putin is intent on continuing the invasion. Article content 'Putin isn't guided by what Trump expects from him and isn't afraid of new sanctions,' said Tatiana Stanovaya, a senior fellow at the Carnegie Russia Eurasia Center. 'Putin is convinced there's nothing left but a military conflict and it's necessary to double down on military efforts until Ukraine collapses and slowly begins to slide into the hands of Russia.' Article content Article content At the same time, there's skepticism in Moscow that Trump will make good on his threat, having repeatedly delayed action against Putin in the past. Ukraine and European leaders thought they had Trump's backing in May for an ultimatum demanding Putin accept an immediate ceasefire ahead of negotiations, only for the US leader to back away when Putin offered talks without a truce. Article content Trump in July declared he was preparing a 'major statement' on Russia. That turned out to be his announcement of the 50-day deadline for Putin to agree to a ceasefire, something Moscow interpreted as a window allowing its military to intensify efforts to seize more territory in Ukraine at the height of the summer fighting season. Article content Article content While maintaining relations with Trump is important for Putin, the Russian leader 'has no desire to stop, and even more so under pressure,' said Moscow-based political analyst Andrei Kolesnikov.
