Latest news with #Trade
Yahoo
16 hours ago
- Business
- Yahoo
Penguins Notebook: Why Pens Can't Eat Too Many Salaries; A Trade Block Holdup?
Trade 'em! Eat a few million dollars, get a better return. Done. Easy peasy, right? The Pittsburgh Penguins' situation is easy for all of us on the outside who are not involved, but it is far more complex for those on the inside. Long-term issues dominate smaller, more short-term matters, and the easiest solutions can have negative impacts. It might seem necessary, if not advantageous, to gobble up a portion of salary to trade defenseman Erik Karlsson, but that will take away one of three very valuable salary retention slots for the next two seasons. Those actual dollars are unlikely to affect the Penguins' salary cap structure adversely, but the retention slot is meaningful. One little-talked-about CBA rule change for 2026-27 will be the 75-day delay on double retention trades. No one knows what will happen when a team acquiring a player with salary retention cannot trade said player for two and a half months, thus leaving a potential trade flip parked until the clock runs out and the new team can trade him again. It will make moving higher-priced players to cap-strapped contenders even more difficult. Since the season will be the last chance for some contenders to snag players who are otherwise overpriced or unneeded by their current team, expect to see a few GMs take runs at acquiring those players. Salary retention slots will be quite valuable this season, which means every slot the Penguins save is another asset they can flip for assets later. Just as the Montreal Canadiens helped the Penguins land Karlsson by accepting unwanted salaried players, including Jeff Petry and Casey DeSmith, now it is general manager Kyle Dubas and the Penguins who are in a position to command a fee to help others. Make no mistake, they will most likely have to belly up to the buffet, bib wrapped neatly around their neck, and eat a sizeable chunk of Erik Karlsson's salary to make a deal work, but after that, it becomes precarious because the Penguins have a handful of other players who would also require salary retention to move over the next couple of years. Ryan Graves. Tristan Jarry. Kevin Hayes. Even Kris Letang (next summer). Maybe Tommy Novak, if he doesn't work out, either. Eat salary, trade Graves. Eat salary, trade Jarry because some combination of Arturs Sikovs, Joel Blomqvist, and Sergei Murashov are ready. Also, eat salary to trade Hayes because that spot is otherwise needed, Letang because it's time to move forward, or Novak because young players have pushed past him. However, teams only get three slots, and Dubas has been wise to keep them clear. For every veteran exit trade he makes without eating salary, that's another slot he can sell this season. It will not be easy because the players whom the Penguins need to move aside are damaged goods with multiple years remaining on their contracts. As we have counted down the Penguins' prospects, there are several who are ready now, but there are not enough spots to accommodate prospects and existing veterans. As we've seen the market dictate, $3.5 million is worth a second-round pick, so each slot open could net another pick. After 40 years of terrible second-round picks, the curse is over, and the Penguins have nabbed some promising prospects from the second round in the past few years: Tristan Broz, Harrison Brunicke, and Tanner Howe. Though we understand the temptation to clear some brush from the lineup aggressively. 2nd Wave of Trades and UFAs? The venerable hockey journalist John Shannon believes there are more shoes to drop, more dominos to fall, and there is a coming second wave of trades. 'I still think we're going to see a bump of trades coming, and so what we're also going to see is a second wave of free agent signings,' Shannon said on CHED radio. Washington Capitals GM Chris Patrick said at the outset of the off-season that he wanted a skilled player, but Washington has thus far done little in that regard. The Detroit Red Wings got a goalie, finally, but have done little to upgrade their lineup, unless you consider 36-year-old James van Riemsdyk an upgrade. There are a plethora of other teams on the prowl, but even the third-tier free agents such as Jack Roslovic and Victor Olofsson remain unsigned. So, what gives? Why is the NHL market plugged up? Could it be that a lot of teams are waiting for the Penguins and Dubas to hedge just a little on the high prices he has set for Rickard Rakell, and especially Bryan Rust? We have no direct evidence to suggest the Penguins are the cause of the league-wide holdup, but the circumstantial evidence is fairly compelling. The Carolina Hurricanes signed Nikolaj Ehlers on July 3, leaving a fair amount of suitors without a scoring winger or an offensive boost. Those on the inside of the game, as well as those of us who cover it, generally expected that the trades would begin almost immediately. Green flag! Umm, any day now. The real question is whether Dubas holding onto his aces is increasing their value or merely delaying a move. The view here is evolving with the tightening market, and perhaps Rakell's value will rise closer to the levels we believed he would command in March, when the market prices were like trying to buy a used car during COVID. The rising cap did not play out the way anyone thought it would. Who knew it would get boring once more teams had money? The post Penguins Notebook: Why Pens Can't Eat Too Many Salaries; A Trade Block Holdup? appeared first on Pittsburgh Hockey Now.
IOL News
a day ago
- Business
- IOL News
South Africa at a crossroads: Navigating global leadership for green industrialisation
The Minister of Trade, Industry and Competition, Parks Tau. Minister Tau's green industrial vision presents a promising pivot, says the author. Image: Independent Media Archives Poised at a critical crossroad, South Africa finds the complexities of its just transition encompassing both profound challenges and significant opportunities – illuminated by the recent G20 Finance Ministers' and Central Bank Governors' Meeting and Minister Parks Tau's budget speech for the Department of Trade, Industry, and Competition. These two events offer a glimpse of how the country could leverage its leadership position internationally and domestically to drive a sustainable, equitable and transformative economic shift. As South Africa approaches the G20 Summit in November 2025, the G20 Finance Ministers' and Central Bank Governors' Meeting held in Durban last week demonstrated the country's standing in building unity and the influencing global financial ecosystem. The meeting culminated in the issuing of a communiqué consented to by all members that centres on strategic macroeconomic issues, multilateral cooperation, price stability and capital mobilisation - all having important implications for South Africa's just transitions. At the meeting, ministers and central bank governors considered key recommendations for enhancing collaboration among Vertical Climate and Environment Funds, Multilateral Development Banks, National Development Banks, and the private sector for innovative financing mechanisms. They also shared views on binding macroeconomic and microeconomic constraints to scaling up sustainable finance. Significantly, members reaffirmed the urgency of scaling up financing for adaptation and just transitions. South Africa's global advocacy within the G20 is commendable, but the true measure of our G20 Presidency lies in converting these high-level pledges into tangible impacts that elevate marginalised communities. At home, Minister Tau's budget speech put the urgency of action required to address entrenched economic exclusion. For the past three decades the country's economy has been trapped in a paradox albeit blessed with mineral wealth, human ingenuity, and democratic promise, yet shackled by 34% unemployment, devastating poverty and inequality, and growth averaging just 0.7% since 2014. Minister Tau's green industrial vision presents a promising pivot that is centred around renewable energy, critical minerals beneficiation, local manufacturing, and inclusive finance that turns country's economic polycrisis into a bold just transition programme in which the energy transition benefits the society. Green industrial hubs such as the Boegoebaai Hydrogen SEZ and its concomitant R339 billion investment pipeline promised a series of value chains beyond renewable energy. A well planned and sequenced implementation will have a monumental impact. The South African Renewable Energy Masterplan (SAREM) targets local manufacturing of solar, wind turbines, and batteries for industrial scale manufacturing capabilities with significant value chains development envisaged. This illustrates a potential roadmap for green industrialisation, catalysing substantial investment and job creation. However, the success of these plans hinges critically on execution, ensuring that the public and private sectors procurement policies enforce local content. The promised "high-speed approval lane" under the Omnibus Bill for high impact projects must ease the doing business. Developing local and black industrialists, and community and worker owned enterprises should be the cornerstone of the bill's implementation to democratise the local ownership of the economy. Moreover, the international trade landscape and geopolitics presents both threats and opportunities. The 'Butterfly Strategy' posited by Minister Tau rightly sets out to diversify the country's trade beyond the West. As the United States trade regime threaten South Africa with a 30% tariff and the European Union implement its Carbon Border Adjustment Mechanisms, South Africa's exports face threats at multiple fronts. The Minister's speech lacked substantial content on the 'Butterfly Strategy', whether new markets are being sought or expanding existing markets to mitigate the risks exposure of South African exporters. While he did make cursory reference to ongoing engagements with the United States government, he provided no other alternative action barring the African Continental Free Trade Area. Possible expansion considerations may include prioritising regional value chains in batteries, electric vehicles, and solar technology with Namibia (green hydrogen), DRC (cobalt), and Morocco (solar), building out trade agreements within BRICS, etc. Ultimately, the G20 commitments and Minister Tau's green industrial strategy intersect profoundly. Both stress the importance of inclusive growth, sustainable finance, and collective action. South Africa's leadership in the G20 offers a unique moment to advocate for global equity while simultaneously transforming our domestic economy. This dual role requires vigilance and accountability to ensure lofty goals translate into lived realities. South Africa's industrial policy goes beyond economic growth, it serves as a form of social healing. Imbuing the just transition into industrial policy will lead the redress of historically skewed economic ownership and participation patterns and changing the fabric of our society into one of shared prosperity for all. The alignment between international advocacy and domestic action could set South Africa as a global example of how finance, industrial policy, and social justice can converge, powerfully impacting the most vulnerable in society. Yet this potential demands a commitment to action, beyond rhetoric, and beyond pledges. It is a moment to unite collective efforts across government, industry, and society, moving decisively from vision to reality. South African can lead the Global South but only if we treat this moment with urgency and into collective creation. Devan Pillay is the Executive Manager: Institutional Support at the Presidential Climate Commission. Image: Supplied Devan Pillay is the Executive Manager: Institutional Support at the Presidential Climate Commission *** The views expressed here do not necessarily represent those of Independent Media or IOL. BUSINESS REPORT
Malaysiakini
a day ago
- Automotive
- Malaysiakini
Zafrul: Geely partnership lifted Proton from losses to profitability
Investment, Trade, and Industry Minister Tengku Zafrul Abdul Aziz has credited the strategic partnership with Chinese automobile manufacturer Geely for transforming Proton from financial losses to profitability. In a parliamentary written response, he highlighted how the collaboration, which began in 2017 with Geely acquiring a 49.9 percent stake in Proton Holdings Berhad, has fundamentally reshaped the national car manufacturer. He said the collaboration has enabled...
Malaysiakini
a day ago
- Automotive
- Malaysiakini
Zafrul: Geely partnership lifted Proton from losses to profitability
Investment, Trade, and Industry Minister Tengku Zafrul Abdul Aziz has credited the strategic partnership with Chinese automobile manufacturer Geely for transforming Proton from financial losses to profitability. In a parliamentary written response, he highlighted how the collaboration, which began in 2017 with Geely acquiring a 49.9 percent stake in Proton Holdings Berhad, has fundamentally reshaped the national car manufacturer. He said the collaboration has enabled...
Bloomberg
2 days ago
- Business
- Bloomberg
New Zealand Export Values Drop In Another Sign of Weak Economy
New Zealand posted its first quarterly decline in exports in almost two years, adding to signs that the momentum apparent in the economy at the start of the year has faded. The value of exports fell 3.7% in the second quarter after a 10.6% surge in the three months through March, Statistics New Zealand said Tuesday in Wellington. It's the first drop since the third quarter of 2023.
