Latest news with #Mangold
NZ Herald
17-07-2025
- Business
- NZ Herald
Up for sale: The unusual way NZX-listed T&G Global found out its major shareholder was selling up
'Their disclosures have gotten better over the last three or four years, and that's commendable, but it is certainly not the most engaging of companies listed on the NZX from a shareholders' perspective. 'If I were an independent director, I would be asking a few questions as to why it did not come up earlier.' Like many in the horticulture sector, T&G Global took a hit from Cyclone Gabrielle. In its latest result, T&G Global said high demand for T&G Global's premium Envy and Jazz-branded apples, coupled with higher pricing in global markets, helped it bounce back from the impact of the cyclone. For the year ending December 2024, the company recorded a loss before tax of $6.8 million, compared with a pre-tax loss of $64.2m in 2023, and an operating profit of $12.7m (the previous year's loss was $45.6m). In response to an open letter to shareholders circulating on social media platform X that was critical of the company's performance, T&G Global chairman Benedikt Mangold said the board was confident in the company's strategy 'and we continue to be pleased with our financial progress'. 'We are fully aligned with management on the company's outlook, and we look forward to updating the market and shareholders on August 8 with our half-year results,' he said in an email to the Herald. Mangold said if shareholders had any concerns, they had not been raised at the company's annual meeting in May. Strategic options T&G Global, which sells fresh produce to more than 60 countries, is itself going through a process to consider its strategic options and has engaged Craigs Investment Partners to advise it. Late in 2021, the company announced it would spend $100m on a new state-of-the-art packhouse adjacent to its Whakatu site in Hawke's Bay. As well as improving productivity, the new facility would allow T&G to accommodate increasing volumes of Envy and other apple varieties. AFR's Street Talk said Australian fund manager ROC Partners 'likes the look' of T&G Global. The paper also said T&G Global would be a logical bolt-on for Macquarie Asset Management. In BayWa's annual report, new chief executive Frank Hiller said the company was embarking on a 'fundamental transformation' bringing an end to its debt-financed expansion. BayWa, which has interests ranging from food to construction and energy, first made its play for the then Turners and Growers in 2011, with the intention of a complete takeover. A pre-bid agreement with shareholder Guinness Peat Group meant it already had 63.5% of the shares locked up. The offer was for all shares in NZX-listed Turners & Growers at $1.85 a share, valuing the company at $216.5m. But rather than go to 100%, BayWa was persuaded to remain a majority owner, allowing minority shareholders to stay on the register and for Turners and Growers to retain its NZX listing. Meanwhile, speculation over T&G Global's future has not done its share price any harm. The stock now trades at around $2.05 – its highest point since October 2023. Port of Tauranga upgrade Brokers Forsyth Barr say the favourable pricing backdrop for Port of Tauranga (POT) continues, with the company set to materially increase its access pricing at MetroPort from September 1. 'Its vehicle booking system charge will rise by more than 100%, which we estimate will contribute incremental annualised revenue of $9m, assuming no volume offset,' the broker said. 'Pricing remains POT's key lever in lifting its return on invested capital above its 7% target by 2028, particularly given: (1) container terminal capacity constraints; and (2) the pricing behaviour of key competitor, Port of Auckland.' Forsyth Barr has raised its net profit forecast for 2026 by 3% to $146m and has left its 2027 forecast unchanged at $168m. Encouraging Ryman Forsyth Barr has welcomed Ryman Healthcare's (RYM) latest first-quarter sales update. Encouragingly, forward-looking contracted sales continued to recover, it said. 'One swallow does not make a summer, but we view this as an important step in de-risking the investment case,' the broker said. 'The key risk since RYM's pricing strategy change and dramatic drop-off in sales has been that it would build resales inventory at a high rate, forcing RYM to buy back units – creating a meaningful cash flow drag. 'Current resales levels remain insufficient to halt inventory build, but this update is a clear step in the right direction and should materially reduce the rate of inventory build.' Powering down Jarden has released its analysis of Meridian and Mercury's operating stats for June. It said Meridian's figures imply 2025 earnings before interest, tax, depreciation and amortisation (ebitda) of $612m, down from $905m in 2024. Mercury's update implies 2025 ebitda of $768m, down from $877m reported in 2024. 'We retain our $7.40 target price for Mercury and reaffirm our overweight rating, reflecting discounted valuation.' Listing the potential risks for Mercury, Jarden cited regulatory changes, transmission pricing methodology adjustments, wholesale spot price fluctuations and higher-than-historical inflows into its hydro generation from Lake Taupō down the Waikato River chain. The firm maintains a neutral rating on Meridian, with an unchanged target price of $6.47. Among the risks, Jarden again listed regulatory changes for Meridian. Annual results from Mercury are due on August 19 and August 27 for Meridian. Meanwhile, the High Court this week approved a scheme of arrangement under which Meridian will acquire all of the shares in NZ Windfarms. Provided the remaining customary conditions are satisfied or waived, implementation of the scheme will occur on July 30, Meridian said. Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.
Yahoo
09-07-2025
- Business
- Yahoo
How Much Should You Have Saved for Retirement If You Live To 100
Planning for retirement requires an effective strategy that covers everything, including inflation, long-term healthcare, vacations, debt, the uncertainty of Social Security, taxes, the unexpected and living expenses. What makes it even more challenging is people are now outliving their savings because life expectancy is longer. Trending Now: For You: According to a new survey from Allianz Life, 64% of Americans, mostly Gen Xers, worry more about not having enough money to cover their lifetime than they worry about dying. While many fear about running out of money in retirement, only 23% have addressed this concern with a professional financial advisor, per the survey. 'If we knew the date we were no longer walking the Earth, we could plan to have enough money to last so the last check you write in this world goes to the Undertaker,' said Eric Mangold, certified wealth strategist (CWS) and founder of Argosy Wealth Management. To accordingly plan for your golden years, here's how much you should have saved if you lived to 100 per Mangold. There's many approaches to saving for retirement, but one method Mangold stands by is saving 15% of your income. 'I don't focus a number and how much to have ready for retirement but one should be saving at least 15% of their income every year towards their retirement,' he said. Mangold explained the 15% of income strategy should determine how much guaranteed income is going to come in through revenue like pensions, Social Security and annuities. 'How much of your retirement expenses will that cover?' he asked. 'If there is a shortfall there, then we can turn to investments to make up the difference.' Learn More: The average lifespan in the U.S. is now 78.4 years, per the National Center for Health Statistics,however, the amount of Americans living past that age is growing. 'With people living longer, we have to plan for what may be a 30 or even 40 year retirement — that means the income must keep coming in,' Mangold explained. 'I use that term income on purpose because it's not about how much you have saved, it's how much income will it produce for you and for how long.' According to Mangold, many retirees don't have an asset problem, but they do have an income problem. 'It's imperative that people employ a strategy that puts income in their pocket each month, regardless of how long they live, regardless of what the market does, where inflation is, what geopolitical events are going on, etc.,' he said. The 4% rule is a popular recommendation for retirement but it isn't always the best approach. The guideline states you can withdraw 4% of your total investments each year, but Mangold said to ensure adjustments for inflation so you won't run out of money after more than 30 years of retirement. With that in mind, the strategy has been recalculated and isn't foolproof. A Morningstar report states one could employ the 4% rule and have a 90% chance of not running out of money is 3.7%, which are not good odds for Mangold. 'If you were going to get on a plane, and there was a 90% chance you would land safely, would you still fly?' he asked. 'The 4% rule may be lower in order to account for unplanned market events.' There's many paths to retirement, but working with a trusted financial professional to navigate the challenges and coming up with a projection and income analysis 'can be a prudent move so you know exactly how much money you will need on day one of your retirement, as well as potentially year 40 of your retirement,' said Mangold. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 8 Common Mistakes Retirees Make With Their Social Security Checks 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives This article originally appeared on How Much Should You Have Saved for Retirement If You Live To 100 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
27-05-2025
- Entertainment
- Yahoo
Ryan Reynolds reveals details on R-rated ‘Star Wars' movie pitch
After spearheading Marvel's first R-rated superhero movie with last year's Deadpool & Wolverine, Ryan Reynolds says he has made a similar pitch to take the Star Wars universe in a different direction. 'I pitched to Disney, I said, 'Why don't we do an R-rated Star Wars property? It doesn't have to be overt, A+ characters. There's a wide range of characters you could use,'' he said in an interview with Scott Mendelson's The Box Office podcast. 'And I don't mean R-rated to be vulgar. R-rated as a Trojan horse for emotion. I always wonder why studios don't want to just gamble on something like that.' Star Wars has experimented with darker storylines, most recently in its two-season Rogue One spinoff Andor, but the franchise has firmly remained in the PG realm. Reynolds said he liked the idea of expanding the story as a way to 'surprise' Star Wars fans. But his story wasn't one that he was angling to star in. 'I'm not saying I want to be in it. That would be a bad fit,' he said. 'I'd want to produce and write or be a part of behind the scenes. Those kinds of IP subsist really well on scarcity and surprise. We don't get scarcity really with Star Wars because of Disney+, but you can certainly still surprise people.' Putting something darker onto streaming, which Disney has also tried with last year's Acolyte series is more likely, but Reynolds insisted to Mendelson that an R-rated big screen adventure would leave a more lasting impression. 'You're never going to get the same emotional investment from a streamer that you are from a theatrical movie, because they're getting in cars and paying for parking, and babysitters, and sitting down, and watching the movie, and then driving home. That's the emotional investment you can try to sell,' he said. 'On a streamer, my only note, always, is that, for God's sake, with everything you can, to grab them in that first shot, like that first thing that happens in the movie… Start with something, 'Holy s—!' and then, 'How did we get here?'' People sitting at home can quickly become disengaged in a way they can't when they're at the cinema. 'We have all these distracto-fat things clogging our arteries of attention, and it is so easy to tune out unless you have them right at the top,' he said. Before it was reimagined into The Book of Boba Fett TV series, James Mangold, who is slated to write and direct an upcoming Star Wars film, eyed his own take on the intergalactic bounty hunter that was 'borderline rated-R.' 'At the point I was doing it, I was probably scaring the s— out of everyone, but I was probably making much more of a borderline rated-R, single-planet, spaghetti western,' Mangold told the Happy Sad Confused podcast in a 2023 interview. 'The world would never be able to embrace Baby Yoda if I had made that, because he didn't really belong in the world I was kind of envisioning.' Mangold's new entry will focus on the dawn of the Jedi, but he said that writing his earlier Boba Fett movie was a 'beautiful period' in his life. 'I was just listening to Ennio Moricone all day, all night and typing away,' he said. 'But I'm not sure it ever would've happened. I'm not sure it was in anyone's plans what I was thinking about.' After Andor wrapped its second season earlier this month, the Star Wars universe will expand with a Mandalorian spinoff movie hitting theatres next May. Reynolds' Deadpool & Wolverine director Shawn Levy is also set to go into production on Star Wars: Starfighter with Ryan Gosling later this year. The plot is still under wraps, but Levy announced at Star Wars Celebration last month that the film will take place roughly five years after the events of 2019's Star Wars: Episode IX – The Rise of Skywalker. 'This is a standalone adventure that takes place a few years after the events of Episode IX,' the filmmaker teased. 'What could that mean? It could mean so many things … This is not a prequel. This is not a sequel. It's a new adventure.' Also on the horizon: a new trilogy from X-Men scribe Simon Kinberg, a Star Wars film directed by Taika Waititi, and the return of Daisy Ridley as Rey in a film helmed by Sharmeen Obaid-Chinoy. mdaniell@ Ryan Gosling and Shawn Levy's 'Star Wars: Starfighter' sets May 2027 release 'The Mandalorian and Grogu' teases new action-packed footage at Star Wars Celebration Writer reveals real reason Quentin Tarantino's 'Star Trek' film died
Yahoo
30-03-2025
- Business
- Yahoo
How This Banking Mistake Could Cost You $1,000
A savings account is a great place to keep your money in case you need access to quick cash for an emergency. It's also a safe space to store your funds while you save up for a financial goal or if you're ready to invest. But not all savings accounts are worthy of your hard-earned money. Read More: Find Out: Most traditional account banks have a very low annual percentage yield (APY), meaning you're not earning much interest. According to the Federal Deposit Insurance Corporation, the average APY for savings accounts as of March 17, was 0.41%, which isn't a high-yield savings account offers a much higher APY which allows you to accrue more interest and grow your money faster. 'High-yield savings accounts can help you earn a bit on your money given where interest rates are today,' said Eric Mangold, founder and wealth manager of Argosy Wealth Management. 'If you have cash parked in a savings account, you should review what APY you are earning. If it's low, and given where rates are today, you may be able to earn 3-4% or even more on your money in a high-yield savings account.' Not having your money in a high-yield savings account could be a costly mistake, here's how. It's already been established that a traditional savings account doesn't offer customers a high APY, but a high-yield savings account can average anywhere from 3-5%. According to U.S. News & World Report, the highest account for March 2025 is Cloudbank 24/7, with a 4.57% interest rate. With that in mind, if you were to open an account with $24,450, in one year, you'd only earn $100.25 in interest from a traditional savings account with a 0.41% APR. However, if you put $24,450 in a high-yield savings account with a 4.5% APY, you'd earn $1,100.25 in a year. Therefore, you'd miss out on $1,000 in interest. See Next: A high-yield savings account will earn you more interest, but there can be a downside: Limits on withdrawals. While it's easy to take out funds, there can be a limited number of times per month or year. Going over could rack up fees. Investing in the S&P 500 has had a bigger yearly return of 12.39% over the last decade, per U.S. News & World Report, which is more than double the 4-5% APY of a high-yield savings account. APY rates can fluctuate quickly depending on the market. There are other factors you should consider when looking for a high-yield savings account besides the APY. Mangold suggests looking into the following: Is there a minimum balance you need to maintain? Are there any withdrawal limits? Does the financial institution have FDIC insurance? Are there account fees? Having a savings account helps reach financial goals and depend on your needs, you could build your wealth quicker with a high-yield savings account. Research which option is best for you, and read the fine print. Make sure to shop around to see which firm has the most competitive rate for your money. Switching to a high-yield savings account is easy and a guaranteed way to rack up thousands in interest over time. More From GOBankingRates 4 Things To Watch for as Elon Musk Takes on Social Security 12 SUVs With the Most Reliable Engines Warren Buffett: 10 Things Poor People Waste Money On 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on How This Banking Mistake Could Cost You $1,000 Sign in to access your portfolio
Los Angeles Times
11-02-2025
- Entertainment
- Los Angeles Times
James Mangold: Dylan never meant to set the folk scene on fire. He would have liked a band
So Bob Dylan looks you in the eye and says, 'I never intended to become a folk singer.' What's that, again? James Mangold, director, co-writer and co-producer of 'A Complete Unknown,' had several lengthy meetings with the musical icon as he worked on the script for the film about him. Mangold hoped to confirm some things (yes, 'Masters of War' was written in response to the Cuban Missile Crisis), but mostly to understand the Hall of Fame songwriter in a deeper way than standard research could yield. But sitting down with the Man Himself was a bit daunting, not knowing what Dylan's reaction to his draft would be. However, says the director, 'I had a great time. It wasn't some kind of meeting at Yalta. He was really happy to talk about this time. And the questions I was asking were less agenda-driven than a biographer out to get that ultimate quote; I was just there to understand. So, these became extended conversations about this period in his life, which I think he had enough distance from to be really honest about.' That period in the film homes in on the four years between Dylan's arrival in New York and his epic 1965 Newport Folk Festival performance. The songwriter wasn't precious about his own work; for the scene in which the screen Dylan (Timothée Chalamet) debuts 'Masters of War' in a folk club, 'He opened to that page [of the script] and said, 'You don't need these verses.' And he just put Xs through them.' In adapting Elijah Wald's book 'Dylan Goes Electric! Newport, Seeger, Dylan, and the Night That Split the Sixties,' Mangold and co-writer Jay Cocks declined what the director calls the 'cradle-to-grave biopic' approach. Mangold believes Dylan himself wanted to better understand that period in his life, especially the anger caused by him playing with a rock band at the Newport brouhaha. That tight focus left space for lived-in moments. Mangold says movies can 'give you a palpable feeling of a moment between humans. I really wanted to watch their interactions, rivalries, love, fears and the music happening, all in a way that you [feel] they didn't know history was being made. They didn't know the cultural impact that the songs would have. I wanted the audience to feel that, the innocence. 'Some people might react if I talk about innocence with a character as hyper-intelligent as Dylan. Discussions about him revolve around an idea of him as a manipulator or enigma. I believe that's half right. But I think a lot of that is what we've decided retroactively. I think those skills — of image creation, identity creation, art creation — were acquired in the period we're watching, as opposed to he just arrived with them.' That lends dimension to the film's title — beyond being from Dylan's iconic song, 'Like a Rolling Stone' ('How does it feel / To be on your own / With no direction home / Like a complete unknown / Like a rolling stone'), itself a key tick in the timeline of Dylan going electric — beyond signifying a new kid in town, breaking into the business. Mangold situates 19-year-old Minnesotan Robert Zimmerman's reinvention on his arrival in New York in 1961 at one of the film's poles. His anonymity granted him the freedom to remake himself into whomever he wished us to believe he was. If 'A Complete Unknown' 'were a fiction film,' says Mangold, 'it would be a very sensible story about a stranger coming into town, creating a new name, meeting the ailing king and his first lieutenant, entering their world as a nobody and then revealing a level of talent by which he suddenly lifts the entire community to heights they had never known, only to move on again and leave them in his wake. That, to me, is such a beautiful fairy tale about self-invention. 'I think of Dylan's journey in life, which has been a series of reinventions, explosions of success, then wearying of that and reinvention again. So it seemed really joyous to focus on one movement of his life that way.' But what drove Dylan to that other pole, to meld folk with upstart rock to the extreme chagrin of its gatekeepers? Clues might be found in that comment about never intending to become a folk singer, evoking that classic version of the early Bob Dylan, like when he came back out at the festival without his rock band, with just his acoustic guitar, and was applauded at Newport. ' 'If I could have arrived in New York and gotten a band, that would've been awesome,' ' says Mangold, reporting Dylan's words, ' 'But this is what happened. Just like an actor who ends up on a TV show or in the movies, this is the gig I got. I was broke. Back in Minnesota, I played with other people. I got to New York and it was just myself.' 'It's not that he didn't want to be a solo artist; it's that he didn't conceive of himself as only a solo artist. He said, 'It's really lonely being a solo act. You come there alone. You're in the green room alone. You're onstage alone. There's no one to look to.' He would get jealous of the camaraderie he saw in people who had bands.' Mangold shows this through the onscreen Dylan's admiration of Johnny Cash and the Tennessee Three, and the way he lights up when his eventual bandmates transform his sound. 'It means his decision to go electric or have a band wasn't purely, 'I'm going to turn folk music on its head.' It was a personal yearning, as opposed to an intellectual decision about the direction of his art,' Mangold says. So, what was Dylan's overall take on the project? 'He saw my endeavor as both trying to be loyal to the reality of the historical situation and also loyal to my duty to make something good, juicy, enticing and gripping out of it. Because without the second part, without the fact that it holds, you never have the audience. There is a magic that occurs where you gain greater understanding through the power of story and drama of what these people felt like than you would if you were just listing the dates and the facts.'
