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Winnipeg Free Press
5 days ago
- Sport
- Winnipeg Free Press
Best of Manitoba Baseball clashes for provincial title
When Jamie Bettens took over as coach of the Bonivital 18U AAA baseball team at the start of the Baseball Manitoba regular season this spring, the message was clear — get into Zone 1 for the 18U AAA provincials. After back-to-back Tier 2 provincial championships in 2023 and 2024, the Bonivital Black Sox have proved they can win tournaments and, this year, they'll get their shot in Tier 1 at the 2025 18U AAA provincials, taking place this weekend at Charleswood Park. 'When I took over the group, we sat down and said, 'What is our goal for this year?'' said Bettens. 'And, unequivocally, every single player said, 'We want to be in Zone 1 this year. We want to move up and be in the higher bracket and compete against the top teams in the province.'' Supplied The Bonitvital Black Sox get their shot this weekend at the Manitoba Baseball Tier 1, 18U AAA provincial title after back-to-back Tier 2 provincial championships in 2023 and 2024. Tier 1 placement this year is determined by regular-season standings. The top six teams qualify for Zone 1 and compete in Tier 1 provincials, while the bottom five are placed in Zone 2. The system, introduced this year, replaced the previous playoff format to get into Tier 1. Bonivital ended third in the province-wide AAA league standings, a result of dedication and extra work, according to Bettens. 'For us as a team, we tried to schedule as many exhibition games and tournaments as we could get our hands on, as we felt we needed to play more games than the regular season would allow in order to truly prep and work on the things we wanted to work on,' said Bettens. Along with their successful regular season play-wise, the Black Sox found another way to make their time together count, organizing a charity Baseball Fights Cancer game in June that raised over $6,000. 'It's been such an amazing ride from beginning to end,' said Bettens. 'These guys have been focused on the goal right from day one, and it's been very evident throughout the process.' For provincials, going for first place holds a little more weight than just a trophy, as it also comes with the opportunity to represent Manitoba at the Baseball Canada National Championships from Aug. 14-17 in Fort McMurray, Alta. 'If we can play our style of baseball, then we like our chances against anybody else in the league,' said Bettens. 'There are a lot of great teams in the provincials and it's a very wide open event, I don't think anybody will run away with it… But we feel we have the depth and the pitching and the hitting to compete with anybody else.' But competition might be tough against the host team, the Winnipeg South Wolves, whose tight-knit group is looking for a comeback after losing in the Tier 1 provincial finals last year. For Nate Lodewyks, a senior player on the team, it's his last chance at one more provincial championship with the Wolves, an organization he's been a part of since 13U. 'We definitely want to go out here, play well, and just make a last run at it for the senior year guys,' said Lodewyks. 'Obviously, everyone wants to win, but yeah, you have some extra motivation there just to come out on top this year.' After winning the 2024 Western Canada Baseball Championships and finishing second in the 2025 regular-season standings, coach Colten Boudreau says the experience of competing at a higher level has been valuable for his players, who are looking to impress on their home field. 'It's pretty cool, honestly,' said Boudreau on playing as the host team. 'The amount of people that come to the park over the weekend — it's special to see, all the cars at the parking lot, it's packed. Like the finals last year, I don't know how many people were there, but it changes the atmosphere for the boys, too, and I think it helps them play a little harder in front of everybody.' With last year's 13-3 loss in the finals, there's definitely no shortage of motivation for the Wolves to redeem themselves heading into the weekend. 'To be honest with you, in the finals, we were just outplayed and it was simply that,' said Boudreau. 'You know, kudos to the Elmwood Giants when they won, but I think we can just use that as fuel to say we don't want to be the runners up again, and shoot for first place.' It's a demanding weekend, with a minimum of five games over three days, but Boudreau says he will rely on both his pitching staff and offence to carry them through. Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. 'Pitching has been a really strong suit from us,' said Boudreau. 'Kaleb Russell, Will Johnson and Jax Paull have been three of the mainstays in our rotation. They've pitched fairly well and set the tone for the boys. And also, our offence is pretty good. We tend to score a decent amount of runs per game, so when you put those two together, it's definitely a winning recipe.' Lodewyks, an infielder, hopes to contribute before heading south to Kansas in August, where he will continue his baseball career at Pratt Community College. 'I've been fortunate enough to have really great coaches throughout these seven years here,' said Lodewyks. 'And yeah, I've developed as a player but also just as a person.' The Tier 1 championships begin at 8:30 a.m. on Friday, with the North Winnipeg Pirates taking on the West Winnipeg A's. Meanwhile, in the Tier 2 championships, the Interlake Orioles will face the Elmwood Giants at 8 a.m.

AU Financial Review
7 days ago
- Business
- AU Financial Review
A five-way fix for disappearing hybrid income
For many years, Australian bank hybrids have offered a unique combination of yields and franking credits, making them a favourite among income-focused investors. But with the Australian Prudential Regulation Authority's decision to phase out what are formally known as Additional Tier 1 (AT1) capital securities by 2032, investors now face a pivotal question: what comes next?
Yahoo
17-07-2025
- Business
- Yahoo
Trading, investment banking power beat at Goldman Sachs
UPDATE: This article now includes commentary from Goldman's earnings call as well as commentary from analysts. Tariff-induced economic uncertainty appears to have put plenty of wind in Goldman Sachs' sails, as the New York-based investment banking giant posted record trading revenues and increased profits Wednesday. Goldman reported second-quarter earnings of $3.72 billion, which was up 22% from a year ago. Earnings per share of $10.91 exceeded expectations by a wide margin, as analysts had forecast earnings per share of $9.63, according to S&P Capital IQ. The better-than-expected performance was driven by heady increases in investment banking and equities revenues, which spiked 26% and 36%, respectively, from the same period in 2024. The performance of the wealth and asset management unit, which is Goldman's other major line of business, was muted, with revenue declining 3% from the quarter that ended on June 30, 2024. Firmwide revenue totaled $14.6 billion, up 15% from a year earlier. The solid financial results pushed compensation costs higher. The $1.78 trillion-asset company reported quarterly operating expenses of $9.2 billion, up 8% annually. "Our strong results for the quarter reflected healthy client activity levels across our businesses, our differentiated franchise positions and the talent and commitment of our people," Goldman Chairman and CEO David Solomon said in a press release. "Given the strategic decisions and investments we've made, we continue to believe that the firm is well positioned to perform for our shareholders." Goldman was a major beneficiary of the Federal Reserve's decision earlier this month to reduce various big banks' regulatory capital buffers. The company recently reported a cut in its stress capital buffer of nearly 3 percentage points to 3.4%. When the new buffer takes effect on Oct. 1, it will reduce Goldman's required common equity Tier 1 capital ratio to 10.9% from the current 13.6% threshold. Chief Financial Officer Dennis Coleman told analysts Wednesday that Goldman intends to operate at a capital level 50 to 100 basis points above the regulatory minimum, so the Fed's recent decision should result in a sizable amount of capital becoming available for corporate purposes. Solomon, for his part, did not rule out merger-and-acquisition activity as one possible use of capital — particularly in the wealth and asset management sphere. But he said on the company's conference call with analysts that any deal would have to clear a "very, very high" bar from both a strategic and financial perspective. "We're growing our asset and wealth management business," Solomon said. "There might be opportunities to accelerate that growth and the scale of what we're doing. That's what our focus would be." Goldman has already taken a significant step toward returning more capital to its shareholders. Its board voted Monday to increase the company's quarterly dividend by 33% to $4 per share. Though Solomon said on Wednesday's earnings call that investing in initiatives to grow Goldman's business lines is the "first and primary focus," he added that he sees room to further expand the dividend. "I do think, given what is going on with the capital stack and the capital regime, and given the way we're executing on our strategy, there is room for us to continue to drive that dividend higher," Solomon said. Goldman reported investment banking fee income of $2.2 billion for the quarter ending June 30, up from $1.7 billion a year ago and $1.9 billion for the quarter ending March 31. Advisory fees grew 71% from the same period in 2024, while debt-underwriting revenue fell by 5% year over year. The investment banking pipeline remains robust, "notably higher than the year-end 2024 level," Coleman said, with much of that potential new business centering around increased M&A activity. "The level of dialogue has significantly increased," Solomon said. He attributed the uptick both to businesses' desire for scale and to a more welcoming regulatory environment. "There's a confidence level on the part of CEOs that significant-scale industry consolidation is possible, so people are very engaged in that across a range of industries," Solomon said. Goldman appeared to benefit during the second quarter from a turbulent global economy. Equities revenue of $4.3 billion was up significantly from a year earlier, setting a new record high for the 156-year-old company. Trading income also boosted Goldman's first-quarter earnings, which totaled $4.74 billion. Revenue from the bank's asset and wealth management unit totaled $3.78 billion for the three months ending June 30, as an increase in management and other fees was overshadowed by declines in equity and debt investments. Despite the unit's revenue decline, total assets under supervision reached $3.29 trillion on June 30, up 12% from a year earlier. Goldman's results "demonstrated continued progress on the firm's strategic initiatives," Moody's Ratings Senior Vice President David Fanger said in a statement. Steven Chubak, who covers Goldman for Wolfe Research, wrote in a research note that he was impressed by "the magnitude of revenue strength across all lines of business." Goldman's loan portfolio totaled $217 billion on June 30, up 18% from a year earlier. The bank reported second-quarter charge-offs of $290 million, down from $376 million in the three months ending March 31. Solomon said the company would stay vigilant about emerging risks. "At this time, the economy and markets are generally responding positively to the evolving policy environment, but as developments rarely unfold in a straight line, we remain very focused on risk management," Solomon said in the press release. 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


Time of India
16-07-2025
- Business
- Time of India
SBI launches Rs 25,000 crore QIP, floor price at Rs 811.05 per share
PSU lender State Bank of India (SBI) on Wednesday launched a Rs 25,000 crore ($2.9 billion) share sale to institutional investors while approving the floor price for the issue at Rs 811.05 per equity share which is at a discount of 2.5% over the Wednesday closing price. SBI's board had on May 3, 2025 approved the resolution to raise the fund via the qualified institutional placement (QIP) mode. The board authorised the opening of the issue today. Explore courses from Top Institutes in Select a Course Category PGDM CXO Public Policy Data Analytics Project Management MBA Data Science Leadership Finance Operations Management Degree Healthcare Management Others Technology healthcare Artificial Intelligence MCA Cybersecurity Data Science Digital Marketing Product Management Design Thinking others Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Shares of the bank ended 1.9% higher on the day, while the benchmark Nifty 50 index closed flat. Earlier, the board of India's largest public lender, State Bank of India (SBI), on Wednesday approved a plan to raise funds worth Rs 20,000 crore in INR through the issuance of Basel III-compliant Additional Tier 1 and Tier 2 Bonds. The lender will issue bonds to domestic investors during the current financial year, SBI said in its filing to the exchanges. SBI shares have been laggards, declining nearly 6% over 12 months, though they have managed to deliver positive returns of 5% in 2025 so far. The lender has lagged behind its peers in the PSU banking space. While the Nifty PSU Bank index declined by over 2% in the past 12 months, the broader Nifty gained 2.5% during the same period. Its shares have bounced back in the last six months, gaining 10% and outperforming the headline Nifty, whose returns stand at 8.6%. SBI shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 801 and Rs 789, respectively, according to Trendlyne. The stock has also exhibited volatility with a 1-year beta of 1.1. The public sector lender had reported a standalone net profit of Rs 17,035 crore for the quarter ended June 30, 2024, gaining 0.9% over Rs 16,884.29 crore reported in the year-ago period. The net interest income (NII) in Q1FY25 stood at Rs 41,125 crore, a jump of 5.71% over Rs 38,905 crore in Q1FY24.


Economic Times
16-07-2025
- Business
- Economic Times
SBI board approves fundraising of up to Rs 20,000 crore via bonds; stock jumps 2%
The board of India's largest public lender, State Bank of India (SBI), on Wednesday approved a plan to raise funds worth Rs 20,000 crore in INR through the issuance of Basel III-compliant Additional Tier 1 and Tier 2 Bonds. ADVERTISEMENT The lender will issue bonds to domestic investors during the current financial year, SBI said in its filing to the exchanges. After the fundraise announcement, shares of the lender rose over 2% to hit the day's high of Rs 834 on the NSE. SBI shares have been laggards, declining nearly 6% over 12 months, though they have managed to deliver positive returns of 5% in 2025 so lender has lagged behind its peers in the PSU banking space. While the Nifty PSU Bank index declined by over 2% in the past 12 months, the broader Nifty gained 2.5% during the same shares have bounced back in the last six months, gaining 10% and outperforming the headline Nifty, whose returns stand at 8.6%. ADVERTISEMENT SBI shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 801 and Rs 789, respectively, according to stock has also exhibited volatility with a 1-year beta of 1.1. ADVERTISEMENT The public sector lender had reported a standalone net profit of Rs 17,035 crore for the quarter ended June 30, 2024, gaining 0.9% over Rs 16,884.29 crore reported in the year-ago period. The net interest income (NII) in Q1FY25 stood at Rs 41,125 crore, a jump of 5.71% over Rs 38,905 crore in Q1FY24. (You can now subscribe to our ETMarkets WhatsApp channel)