Latest news with #ChrisRatcliffe
UPI
4 days ago
- Health
- UPI
Man dead after Long Island MRI accident
A man in Long Island, N.Y. is dead after a metal chain he was wearing pulled him towards an MRI machine similar to the one pictured at a private clinic, police confirmed this week. Pool Photo by Chris Ratcliffe/EPA-EFE July 19 (UPI) -- A man in Long Island, N.Y., is dead after a metal chain he was wearing pulled him toward an MRI machine at a private clinic, police confirmed. The 61-year-old was inside the Nassau Open MRI clinic this week when he entered an "unauthorized" room while wearing the chain as one of the magnetic resonance imaging machines was operating. "The male victim was wearing a large metallic chain around his neck causing him to be drawn into the machine which resulted in a medical episode. The Nassau County Police Department responded to assist the aided where he was transported to a local area hospital," the department said in a statement. The man was in critical condition when he was transported to the hospital and died the following day, police said in an update. Nassau Open MRI is located in Westbury, a village in the town of North Hempstead in Nassau County on the North Shore of Long Island, with a population of around 17,000 people. The company's website says it has "earned a reputation with our referring physicians and patients for friendly service and clinical accuracy. Our high quality state-of-the-art technology provides the patients and physicians an extra measure of comfort and service." As of early Saturday afternoon, the company had not issued a public statement about the incident. MRI scans are some of the most commonly-done medical scans in the United States. "The strong magnetic field of an MRI scanner can affect medical implants that contain metal or magnets. When this happens, the implant may move or twist inside of the patient's body, causing discomfort, pain, or injury," reads an MRI safety description on the U.S. Food and Drug Administration's website. "Patients with metal-containing implants such as cochlear implants (which also typically contain a magnet) need to be aware of this risk and ensure that health care providers and MR technologists are aware of their implant so that they can take proper precautions when receiving an MRI exam. In addition, the radio waves of an MRI scanner may cause heating of the implant."
Miami Herald
23-06-2025
- Business
- Miami Herald
Netflix analysts turn heads with stock price target updates
Bonjour tout le monde, comment aimez-vous Netflix maintenant? Okay, enough with the high school French. We're going bilingual because the world's largest streaming service recently unveiled a deal under which it will offer live broadcasts and on-demand content from the French broadcaster TF1 starting in summer 2026. Don't miss the move: Subscribe to TheStreet's free daily newsletter "This is a first-of-its-kind partnership that plays to our strengths of giving audiences the best entertainment alongside the best discovery experience," Greg Peters, Netflix's co-CEO, said in a statement. "By teaming up with France's leading broadcaster we will provide French consumers with even more reasons to come to Netflix every day and to stay with us for all their entertainment." Chris Ratcliffe/Bloomberg via Getty Images TF1 reaches 58 million monthly viewers through its broadcast channels and serves 35 million users on its TF1+ streaming service. The company's CEO, Rodolphe Belmer, who sat on Netflix's board from 2018 until 2022 before taking the helm at TF1, said the alliance would "enable our premium content to reach unparalleled audiences and unlock new reach for advertisers within an ecosystem that perfectly complements our TF1+ platform." Last year, Netflix partnered with France's Newen Studios and TF1 to co-produce the streamer's first-ever daily drama series for France, "Tout Pour La Lumière" ("All for Light"), which is set in the world of music and dance, according to The Hollywood Reporter. "This is a very innovative deal" with "nothing of the sort elsewhere," Enders Analysis analyst François Godard said. "It pivots Netflix into aggregation." More Streaming: Walt Disney offers new perks for Disney+ membersBank of America sends strong message on NetflixNetflix has a genius plan to find its next hit show Scott Galloway, a New York University professor and a podcaster, noted recently that by expanding production globally, taking advantage of broadband technology, and capitalizing on inexpensive funding, Netflix was able to make large-scale investments similar to Amazon's (AMZN) strategy, leaving competitors unable to keep pace. Craig Hallum analyst Jason Kreyer said that Magnite (MGNI) , the world's largest independent sell-side advertising company, struck an agreement with TF1 just nine months ago to bolster programmatic demand, according to The Fly. Programmatic advertising uses software and algorithms to buy ad inventory in real time, often through auctions, rather than through manual negotiations between advertisers and publishers. Craig Hallum said that this relationship represented a ramp in its monetization potential with Netflix by bringing an influx of live content to the Netflix ecosystem, where Magnite remains the exclusive supply-side platform. The firm said that it expected a seamless transition to monetizing this inventory on Netflix. Craig-Hallum said its checks from Cannes in France have noted a material increase in interest and active discussions between these broadcasters and both publishers like Netflix and tech partners like Magnite. The firm sees this trend adding yet another set of tailwinds to the Magnite story. Craig-Hallum has a buy rating and a $14 price target on Magnite's shares. Netflix shares are up 38% this year and up nearly 82% from this time in 2024. Pivotal Research raised its price target on Netflix to a Wall-Street-high $1,600 from $1,350 and affirmed a buy rating on the shares. Related: Veteran trader turns heads with Netflix comments The investment firm said it moved from a year-end 2025 to a year-end 2026 target price and increased its multiple based on earnings before interest, taxes, depreciation and amortization, citing increasing confidence in the company's "dominant market positioning." Netflix remains underpenetrated globally, Pivotal said. The Los Gatos, Calif., company offers an "extremely compelling" price-to-entertainment value, boosted by its advertising-supported offering, which should enable it to continue to generate solid growth in subscribers and average revenue per user, Pivotal said. The firm continues to view management's aspirational goal of a $1 trillion valuation by 2030 as reasonable. It's currently a bit more than half that at $520 billion. Wells Fargo raised its price target on Netflix to $1,500 from $1,222 given its opportunity path, while affirming an overweight rating on the shares. High-value short-form content could be Netflix's next big move with exclusive creator deals, WFC said. Wells Fargo estimates incremental engagement at an attractive return on investment. It's a third pillar of growth after sports and ads, the firm said. Netflix, scheduled to report quarterly results on July 17, said in May that it was testing a short-form-video feature. In 2021 the platform rolled out a TikTok-inspired feature called "Fast Laughs," which focused on funny clips, Tech Crunch reported. This new test aims to reach a broader audience beyond just comedy fans and will be more personalized. The new mobile-only vertical feed enables users to easily scroll through clips of its original titles. Within this feed, users can tap on buttons to watch the entire show or movie immediately, save it to their "My List," or share it with friends. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Toronto Sun
18-06-2025
- Business
- Toronto Sun
Calls mount for pause on Canada's digital services tax targeting tech giants
Published Jun 18, 2025 • 2 minute read A man is seen as a silhouette as he checks a mobile device whilst standing against an illuminated wall bearing YouTube Inc.'s logo in this arranged photograph in London, U.K., on Tuesday, Jan. 5, 2016. Photo by Chris Ratcliffe / Bloomberg OTTAWA — Ottawa is under pressure to pause digital services tax legislation that directs large tech companies to make a big retroactive payment by June 30. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Canadian and U.S. business groups, organizations representing U.S. tech giants and members of U.S. Congress have all signed letters calling for the tax to be eliminated or paused. The Canadian Chamber of Commerce and other organizations say retaliatory measures in a U.S. spending and tax bill could hit Canadians' pension funds and investments. A portion of U.S. President Donald Trump's 'big, beautiful' bill could increase withholding and income tax 'on any holding of an American asset by a Canadian or the U.S. operations of a Canadian-parented company,' the groups warned in an open letter Friday. 'The negative impact of this measure cannot be understated for the Canadian economy,' the letter added. 'Every pension fund, retirement fund, investment account, and deeply interconnected investment funds with American holdings, held by the likes of teachers, municipal workers, elected officials, and regular everyday Canadian families, are at risk.' This advertisement has not loaded yet, but your article continues below. Canada's digital services tax is set to take effect just weeks before a deadline Canada and the U.S. have set for coming up with a new trade deal. The tax, which will hit companies like Amazon, Google, Meta, Uber and Airbnb, imposes a 3% levy on revenue from Canadian users. It's expected to bring in an estimated $7.2 billion over five years and the first payment is retroactive to 2022. A June 11 letter signed by 21 members of Congress says that first payment will cost U.S. companies $2 billion US. It says U.S. companies will pay 90% of the revenue Canada will collect from the tax. A separate letter from U.S. industry associations and the U.S. Chamber of Commerce sent earlier in the month called the retroactive requirement an 'egregious overreach.' The office of Finance Minister Francois-Philippe Champagne declined to answer when asked whether the government is considering putting the tax on hold. Read More NHL Canada Soccer Canada Toronto Maple Leafs
Forbes
17-06-2025
- Business
- Forbes
Ashtead Shares Dip As Profits Fall Despite Record Rental Revenues
Photographer: Chris Ratcliffe/Bloomberg Rental equipment specialist Ashtead reversed on Tuesday, as tough market conditions forced profits lower despite record revenues. At £43.51 per share, the FTSE 100 company was last dealing 0.7% lower on the day. Lower equipment sales meant that headline revenue dropped 1% in the 12 months to March, to $10.8 billion. But record revenues across its core rental operations helped reduce the top-line reversal. Rental revenues at the Sunbelt Rentals owner increased 4% year on year, to $10 billion. Operating profit reversed 4% to $2.6 billion, while adjusted pre-tax profit dropped 5% to $2.1 billion. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 3% to $5 billion. This was also a record high. Ashtead has operations in the US, Canada and the UK, though it generates the lion's share of revenues from customers in the States. At its North America General Tool unit, it said rental sales edged 1% higher to $4.9 billion thanks to 'both volume and rate improvement' which it said '[demonstrated] the benefits of our strategy of broadening our end markets.' On an organic basis, revenues were flat due to tough market conditions. Ashtead said that hurricane response efforts contributed around $25 million to $30 million to the top line. North America Specialty rental revenues, meanwhile, leapt 11% to $2.4 billion. Rental revenues in the UK rose 2%, to $599 million. Last year Ashtead invested $2.4 billion in the business, down from $4.3 billion in financial 2024. This was supported by near-record free cash flow of $1.8 billion, up from $216 million the year before. It spent $137 million on five bolt-on acquisitions 'to both expand our footprint and diversify our end markets,' it said. This was down from the $905 million it forked out on 26 purchases in financial 2024 as it slashed spending to reflect market conditions. Through a combination of dividends and share buybacks, Ashtead returned $886 million to shareholders, an all-time high. It raised the full-year dividend to 108 US cents per share from 105 cents previously. Chief executive Brendan Horgan commented that 'the strength of our foundation and growth strategy is reflected in our results and guidance today. I am excited for financial 2026 and what lies ahead as we continue to advance our great company.' Ashtead said it expects rental revenue growth of 0% to 4% during the current fiscal period. Capital expenditure is put at $1.8 billion to $2.2 billion, while free cash flow is predicted to range between $2 billion and $2.3 billion. Analyst Andy Murphy of Edison Group commented that 'while adjusted profit before tax fell… the group's underlying rental business remains robust. The Sunbelt 4.0 strategy continues to gain traction, with customer growth, network expansion, and margin improvements supporting medium-term optimism.' Murphy added that 'the proposed US primary listing remains a strategic milestone' for the current financial year. Ashtead plans to switch its primary listing from London to New York during the first quarter of the 2026 calendar year, whilst retaining a secondary listing in the UK. The Footsie company received the green light from 96.4% of shareholders at an extraordinary general meeting earlier in June. Royston Wild owns shares in Ashtead Group.
Forbes
04-06-2025
- Business
- Forbes
B&M Tanks 6.3% As FTSE 250 Retailer Announces Profits Slump
Photographer: Chris Ratcliffe/Bloomberg B&M shares dropped on Wednesday as it announced a sharp profits reversal for the last financial year as like-for-like sales at its core UK operation dropped. At 311p per share, the FTSE 250 retailer were last dealing 6.3% lower in midweek trade. Revenues rose 3.7% in the 12 months to March 2025 to £5.6 billion, the discount retailer said, though growth was driven primarily from new store openings. Last year the company opened 38 new stores at its core B&M UK unit, and 55 across the broader group (which includes B&M in France and Heron Foods). On a constant currency basis, turnover was up 4% year on year. Adjusted earnings before interest, tax, amortization and depreciation (EBITDA) ticked 0.6% higher to £620 million. This was at the higher end of the £605 million - £625 million that B&M predicted during its latest forecast downgrade in February. However, the company endured a 7% reversal in operating profit, to £566 million. On an adjusted basis operating profit declined 1.8% 'due to higher depreciation from our asset base,' to £591 million. Pre-tax profit slumped 13.2% from fiscal 2024, to £431 million. B&M raised the full-year dividend to 15p per share from 14.7p in financial 2024. At B&M UK – which accounts for approximately 80% of group revenues – turnover rose 3.8% to £4.5 billion, though annual growth cooled from 6.2% in the prior 12 months. LFL sales were down 3.1%. The business said that its performance in fast-moving consumer goods (FMCG) categories 'did not meet our internal expectations, showing negative LFL performance in both sales value and units.' Sales growth at B&M France slowed to 7.8% in financial 2025 from 16.7% previously, with total revenues coming in at £542 million. But like-for-like sales improved 2.1% year on year. Heron Foods sales edged 0.6% lower to £546 million, turning from growth of 13.1% the previous year. B&M described trading conditions in its critical UK market as 'challenging,' noting that 'a very subdued garden season, heightened consumer caution, limited real wage growth … and the timing of Easter' all took their toll on sales. The FTSE 250 firm said that the current financial year will be impacted by 'retail sector-wide challenges of increased minimum wage costs, higher employee national insurance and other taxes, and inflation on input costs.' However, it added that 'work continues to reduce the impact of these pressures, through driving productivity improvements and sales volume growth.' At B&M UK, the company aims to open 45 gross new stores to match last year's total. It eventually hope to have 1,200 of these branded outlets up and running, up from 777 today. B&M announced in May that retail veteran Tjeerd Jegen will take the reins as chief executive on 16 June. He was formerly CEO of Dutch bicycle and bike parts manufacturer Accell Group. Former permanent chief Alex Russo left the company in late April after a period of sustained sales pressure. Analyst Russell Pointon of Edison commented that B&M's results 'demonstrate the wider macroeconomic challenges as well as execution issues on its own part.' For the current financial period, he anticipated commented that 'minimum-wage and input-cost inflation [will be] balanced by productivity gains and ongoing store expansion in the UK and France.' Pointon added that 'B&M's disciplined cost base, robust value proposition, and clear remediation plans for underperforming categories mean it is well-placed to deliver modest profit growth even as wider retail headwinds persist.'
