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CTV News
7 hours ago
- Business
- CTV News
Moody's reports higher second-quarter profit on analytics unit strength
People walk by the New York Stock Exchange, Thursday morning, April 10, 2025. (AP Photo/Richard Drew) Ratings agency Moody's reported a rise in second quarter profit on Wednesday, driven by robust gains in its data and analytics unit and an increase in government borrowing. Demand for market analytical tools rose in the reported quarter as investors sought health checks on Treasury debt issuance amid trade policy and interest rate uncertainties, boosting companies like Moody's. Revenue from the analytics segment, which chiefly depends on a subscription model, climbed 11 per cent to US$888 million in the second quarter. Moody's results are closely watched by traders as a reliable indicator of market sentiment toward debt, given the agency's broad influence across global fixed-income markets. The company's Investors Service business, which issues credit ratings, generated US$1 billion in revenue, matching last year's figure. Profit attributable to Moody's totalled US$578 million, or US$3.21 per share, in the three months ended June 30, compared with US$552 million, or US$3.02 per share, a year earlier. The company narrowed its annual adjusted earnings per share forecast to a range of US$13.50 to US$14, a slight upgrade from its previous outlook of US$13.25 to US$14 per share. Moody's shares, which have gained nearly five per cent so far in 2025, were down marginally in pre-market trading. --- Reporting by Pritam Biswas in Bengaluru; Editing by Tasim Zahid
CTV News
7 hours ago
- Business
- CTV News
Hasbro lifts annual revenue forecast on strong demand for 'Magic: The Gathering' games
The Hasbro logo is seen, April 26, 2018, in New York. (AP Photo/Richard Drew, File) Hasbro raised its annual revenue forecast on Wednesday, as the toymaker leans on strength of 'Magic: The Gathering' games and cost-cutting efforts to weather the impact from mounting economic and tariff uncertainty. While Hasbro has benefited from a steady growth in segments such as digital gaming, the company and its peer Mattel remain vulnerable to the volatile tariff dynamic as a chunk of their U.S. merchandise is sourced from China. To tackle a potential rise in tariff-driven costs, Hasbro has announced job cuts and sought to diversify its manufacturing and logistics footprint as it imports nearly half of its goods from China. It plans to bring it down to about 40 per cent in 2027. Sales at the company's consumer products business, which includes shipping to retailers, was down 16 per cent. The company said that U.S. customers had shifted their orders from the second quarter to the back half of the year due to tariff uncertainty. Shares of the Monopoly maker, which have risen nearly 40 per cent this year, were down about two per cent. Still, Hasbro said its expectations of incremental costs due to tariffs would be at around US$60 million, lower than prior estimates, as it now accounts for a 'more favorable' rate. In May, the U.S. said it would cut extra tariffs it imposed on Chinese imports in April this year to 30 per cent from 145 per cent for the next 90 days. Hasbro expects annual revenue to be up mid-single digits in constant-currency terms, compared with prior predictions to be up slightly. In the second quarter, its revenue in 'Wizards of the Coast' and digital gaming segment rose 16 per cent due to momentum in 'Magic: The Gathering,' whose revenue surged 23 per cent on growth in tabletop. 'Hasbro is finding its footing in a tough environment while laying the groundwork for long-term growth,' eMarketer analyst Zak Stambor said. After adjusting for a US$1 billion impairment charge related to its consumer products business in the second quarter, Hasbro earned US$1.30 per share, compared with the market expectation of 78 cents, according to estimates compiled by LSEG. Hasbro posted net revenue of US$980.8 million, beating estimates of US$880 million, in the quarter ended June 29. --- Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Arun Koyyur
Toronto Sun
a day ago
- Toronto Sun
Passenger's 'Israel' mention during Uber ride nets 'disrespectful language' complaint
Passenger says conversation with friend triggered complaint, but Uber insists driver made complaint in error Passenger says conversation with friend triggered complaint, but Uber insists driver made complaint in error. Photo by Richard Drew / THE ASSOCIATED PRESS OTTAWA — Mentioning Israel during a recent Uber ride allegedly netted a Toronto woman an official warning from the U.S.-based rideshare company, which chalked up the situation to a misunderstanding. Earlier this month, the woman — whom The Toronto Sun has agreed to identify as Louise out of concerns for her safety — hired an Uber to take her and a friend on a short trip north of Toronto. 'It was friendly, I typically say hi to the driver,' Louise told the Sun. 'I said 'thanks for waiting,' because he had waited an extra minute or two.' The passengers' conversation during the brief ride, she said, largely centred around her friend's parents in Israel — a benign conversation free from politics or sensitive topics that largely centered around business. 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 The next day, Louise was shocked to find a message from Uber customer support — informing her that her 'disrespectful language' made her driver feel 'uncomfortable,' and that further infractions would result in the suspension of her Uber account. 'We didn't speak with the driver, the only thing we said was 'thank you' and 'bye,'' Louise said. 'We didn't talk about the war or the conflict, we didn't share a political view — the conversation wasn't even that deep.' Recommended video Louise said she didn't hear from Uber until after the Sun got involved. On Monday, Louise received a call from Uber insisting the 'disrespectful language' complaint was made in error by the driver, whom they say was attempting to report a traffic issue through Uber's automated system that somehow got transformed into accusations of offensive conduct. This advertisement has not loaded yet, but your article continues below. 'We have investigated this report, and it appears that this message was sent in error to the rider,' Uber spokesperson Gabriela Condarco-Quesada told the Sun. 'We apologize for the miscommunication and have reached out to the rider directly.' During that call, Louise was told her driver attempted to report a motorist who stopped while attempting to make a left-hand turn — but told the Sun no such incident took place during her ride. She was also told accusations of disrespectful language were also scrubbed from her account, but said the situation left her rattled. 'The fact my Uber account could be threatened because someone said the word 'Israel,' it's such a covert form of antisemitism,' she said. bpassifiume@ X: @bryanpassifiume Read More Canada Columnists Celebrity Entertainment Olympics
Toronto Sun
3 days ago
- Toronto Sun
Request to unseal Epstein grand jury transcripts likely to disappoint, ex-prosecutors say
Man dies after heavy weight-training chain around neck pulls him into MRI machine Request to unseal Epstein grand jury transcripts likely to disappoint, ex-prosecutors say Photo by Richard Drew, Jose Luis Magana, Julia Demaree Nikhinson, Alex Brandon / AP Article content NEW YORK (AP) — A Justice Department request to unseal grand jury transcripts in the prosecution of chronic sexual abuser Jeffrey Epstein and his former girlfriend is unlikely to produce much, if anything, to satisfy the public's appetite for new revelations about the financier's crimes, former federal prosecutors say. Advertisement 2 Story continues below 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 or Sign in without password View more offers Article content Attorney Sarah Krissoff, an assistant U.S. attorney in Manhattan from 2008 to 2021, called the request in the prosecutions of Epstein and imprisoned British socialite Ghislaine Maxwell 'a distraction.' Article content tap here to see other videos from our team. Try refreshing your browser, or Request to unseal Epstein grand jury transcripts likely to disappoint, ex-prosecutors say Back to video tap here to see other videos from our team. Try refreshing your browser, or Play Video Article content ' The president is trying to present himself as if he's doing something here and it really is nothing,' Krissoff told The Associated Press in a weekend interview. Deputy Attorney General Todd Blanche made the request Friday, asking judges to unseal transcripts from grand jury proceedings that resulted in indictments against Epstein and Maxwell, saying 'transparency to the American public is of the utmost importance to this Administration.' The request came as the administration sought to contain the firestorm that followed its announcement that it would not be releasing additional files from the Epstein probe despite previously promising that it would. Advertisement 3 Story continues below This advertisement has not loaded yet, but your article continues below. Article content Epstein is dead while Maxwell serves a 20-year prison sentence Epstein killed himself at age 66 in his federal jail cell in August 2019, a month after his arrest on sex trafficking charges, while Maxwell, 63, is serving a 20-year prison sentence imposed after her December 2021 sex trafficking conviction for luring girls to be sexually abused by Epstein. Krissoff and Joshua Naftalis, a Manhattan federal prosecutor for 11 years before entering private practice in 2023, said grand jury presentations are purposely brief. Naftalis said Southern District prosecutors present just enough to a grand jury to get an indictment but 'it's not going to be everything the FBI and investigators have figured out about Maxwell and Epstein.' Your Midday Sun Your noon-hour look at what's happening in Toronto and beyond. There was an error, please provide a valid email address. Sign Up By signing up you consent to receive the above newsletter from Postmedia Network Inc. Thanks for signing up! A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Your Midday Sun will soon be in your inbox. Please try again Article content Advertisement 4 Story continues below This advertisement has not loaded yet, but your article continues below. Article content 'People want the entire file from however long. That's just not what this is,' he said, estimating that the transcripts, at most, probably amount to a few hundred pages. 'It's not going to be much,' Krissoff said, estimating the length at as little as 60 pages 'because the Southern District of New York's practice is to put as little information as possible into the grand jury.' 'They basically spoon feed the indictment to the grand jury. That's what we're going to see,' she said. 'I just think it's not going to be that interesting. … I don't think it's going to be anything new.' tap here to see other videos from our team. Try refreshing your browser, or Play Video Ex-prosecutors say grand jury transcript unlikely to be long Both ex-prosecutors said that grand jury witnesses in Manhattan are usually federal agents summarizing their witness interviews. Advertisement 5 Story continues below This advertisement has not loaded yet, but your article continues below. Article content That practice might conflict with the public perception of some state and federal grand jury proceedings, where witnesses likely to testify at a trial are brought before grand juries during lengthy proceedings prior to indictments or when grand juries are used as an investigatory tool. In Manhattan, federal prosecutors 'are trying to get a particular result so they present the case very narrowly and inform the grand jury what they want them to do,' Krissoff said. Krissoff predicted that judges who presided over the Epstein and Maxwell cases will reject the government's request. With Maxwell, a petition is before the U.S. Supreme Court so appeals have not been exhausted. With Epstein, the charges are related to the Maxwell case and the anonymity of scores of victims who have not gone public is at stake, although Blanche requested that victim identities be protected. Advertisement 6 Story continues below This advertisement has not loaded yet, but your article continues below. Article content 'This is not a 50-, 60-, 80-year-old case,' Krissoff noted. 'There's still someone in custody.' Appeals court's 1997 ruling might matter She said citing 'public intrigue, interest and excitement' about a case was likely not enough to convince a judge to release the transcripts despite a 1997 ruling by the 2nd U.S. Circuit Court of Appeals that said judges have wide discretion and that public interest alone can justify releasing grand jury information. Krissoff called it 'mind-blowingly strange' that Washington Justice Department officials are increasingly directly filing requests and arguments in the Southern District of New York, where the prosecutor's office has long been labeled the 'Sovereign District of New York' for its independence from outside influence. Advertisement 7 Story continues below This advertisement has not loaded yet, but your article continues below. Article content 'To have the attorney general and deputy attorney general meddling in an SDNY case is unheard of,' she said. Cheryl Bader, a former federal prosecutor and Fordham Law School criminal law professor, said judges who presided over the Epstein and Maxwell cases may take weeks or months to rule. 'Especially here where the case involved witnesses or victims of sexual abuse, many of which are underage, the judge is going to be very cautious about what the judge releases,' she said. tap here to see other videos from our team. Try refreshing your browser, or Play Video Tradition of grand jury secrecy might block release of transcripts Bader said she didn't see the government's quest aimed at satisfying the public's desire to explore conspiracy theories 'trumping — pardon the pun — the well-established notions of protecting the secrecy of the grand jury process.' Advertisement 8 Story continues below This advertisement has not loaded yet, but your article continues below. Article content 'I'm sure that all the line prosecutors who really sort of appreciate the secrecy and special relationship they have with the grand jury are not happy that DOJ is asking the court to release these transcripts,' she added. Mitchell Epner, a former federal prosecutor now in private practice, called Trump's comments and influence in the Epstein matter 'unprecedented' and 'extraordinarily unusual' because he is a sitting president. He said it was not surprising that some former prosecutors are alarmed that the request to unseal the grand jury materials came two days after the firing of Manhattan Assistant U.S. Attorney Maurene Comey, who worked on the Epstein and Maxwell cases. 'If federal prosecutors have to worry about the professional consequences of refusing to go along with the political or personal agenda of powerful people, then we are in a very different place than I've understood the federal Department of Justice to be in over the last 30 years of my career,' he said. Krissoff said the uncertain environment that has current prosecutors feeling unsettled is shared by government employees she speaks with at other agencies as part of her work in private practice. 'The thing I hear most often is this is a strange time. Things aren't working the way we're used to them working,' she said. Article content Share this article in your social network Read Next
Toronto Sun
7 days ago
- Science
- Toronto Sun
Largest piece of Mars on Earth fetches $5.3 million at auction, but young dinosaur steals show
Published Jul 16, 2025 • 3 minute read A Martian meteorite, weighing 54.388 lbs. (24.67 kg), said to be the largest piece of Mars on Earth, estimated at $2 - 4 million, is displayed at Sotheby's, in New York, Wednesday, July 9, 2025, part of their Geek Week auction, July 16, 2025. Photo by Richard Drew / THE ASSOCIATED PRESS The largest piece of Mars ever found on Earth was sold for just over $5 million at an auction of rare geological and archaeological objects in New York on Wednesday. But a rare young dinosaur skeleton stole the show when it fetched more than $30 million in a bidding frenzy. 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 The 25-kilogram rock named NWA 16788 was discovered in the Sahara Desert in Niger by a meteorite hunter in November 2023, after having been blown off the surface of Mars by a massive asteroid strike and traveling 225 million kilometers to Earth, according to Sotheby's. The estimated sale price before the auction was $2 million to $4 million. The identity of the buyer was not immediately disclosed. The final bid was $4.3 million. Adding various fees and costs, the official sale price was about $5.3 million. The live bidding was slow, with the auctioneer trying to coax more offers and decreasing the minimum bid increases. The dinosaur skeleton, on the other hand, sparked a bidding war. With a pre-auction estimate of $4 million to $6 million, it is one of only four known Ceratosaurus nasicornis skeletons and the only juvenile skeleton of the species, which resembles the Tyrannosaurus rex but is smaller. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Bidding for the skeleton started with a high advance offer of $6 million, then escalated during the live round with bids $500,000 higher than the last and later $1 million higher than the last before ending at $26 million. People applauded after the auctioneer gaveled the bidding closed. The official sale price was $30.5 million with fees and costs. That buyer also was not immediately disclosed. Parts of the skeleton were found in 1996 near Laramie, Wyoming, at Bone Cabin Quarry, a gold mine for dinosaur bones. Specialists assembled nearly 140 fossil bones with some sculpted materials to recreate the skeleton and mounted it so it's ready to exhibit, Sotheby's says. It was acquired last year by Fossilogic, a Utah-based fossil preparation and mounting company. This advertisement has not loaded yet, but your article continues below. It's more than 6 feet (2 meters) tall and nearly three metres long, and is believed to be from the late Jurassic period, about 150 million years ago. Ceratosaurus dinosaurs could grow up to 7.6 metres long, while the T. rex could be 12 metres long. The bidding for the Mars meteorite began with two advance offers of $1.9 million and $2 million. The live bidding slowly proceeded with increases of $200,000 and $300,000 until $4 million, then continued with $100,000 increases until reaching $4.3 million. The red, brown and gray meteorite is about 70% larger than the next largest piece of Mars found on Earth and represents nearly 7% of all the Martian material currently on this planet, Sotheby's says. It measures nearly 375 millimeters by 279 millimeters by 152 millimeters. This advertisement has not loaded yet, but your article continues below. It was also a rare find. There are only 400 Martian meteorites out of the more than 77,000 officially recognized meteorites found on Earth, the auction house says. 'This Martian meteorite is the largest piece of Mars we have ever found by a long shot,' Cassandra Hatton, vice chairman for science and natural history at Sotheby's, said in an interview before the auction. 'So it's more than double the size of what we previously thought was the largest piece of Mars.' It's not clear exactly when the meteorite was blasted off the surface of Mars, but testing showed it probably happened in recent years, Sotheby's says. Hatton said a specialized lab examined a small piece of the red planet remnant and confirmed it was from Mars. It was compared with the distinct chemical composition of Martian meteorites discovered during the Viking space probe that landed on Mars in 1976, she said. This advertisement has not loaded yet, but your article continues below. The examination found that it is an 'olivine-microgabbroic shergottite,' a type of Martian rock formed from the slow cooling of Martian magma. It has a course-grained texture and contains the minerals pyroxene and olivine, Sotheby's says. It also has a glassy surface, likely due to the high heat that burned it when it fell through Earth's atmosphere, Hatton said. 'So that was their first clue that this wasn't just some big rock on the ground,' she said. The meteorite previously was on exhibit at the Italian Space Agency in Rome. Sotheby's did not disclose the owner. Wednesday's auction was part of Sotheby's Geek Week 2025 and featured 122 items, including other meteorites, fossils and gem-quality minerals. RECOMMENDED VIDEO Celebrity Toronto Maple Leafs Toronto & GTA Canada Editorial Cartoons
