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Japanese Minister of Economy, Trade and Industry Yoji Muto: We have told the United States that tariff measures may hinder Japanese companies investment in the United States.Japanese Economy, Trade and Industry Minister Yoji Muto: We will consider various options to determine what is best for Japan.Japanese Minister of Economy, Trade and Industry Yoji Muto: We have told the United States that the tariff measures will be detrimental to both Japan and the United States.On April 3, Morningstar Information (MORN.N) released its 2024 financial report. The companys full-year revenue in 2024 was US$2.3 billion, an increase of 11.6% over the previous year; consolidated operating profit reached US$484.8 million, a year-on-year increase of 110.2%; cash flow from operating activities was US$591.6 million, a year-on-year increase of 87.0%; free cash flow reached US$448.9 million, a year-on-year increase of 127.5%. In terms of business, credit business is the main driving force for the companys revenue growth, achieving a 35.1% increase, and the adjusted operating profit margin rose to 26%, an increase of 15.9 percentage points over the previous year. In addition, in 2024, the companys investment management and consulting assets increased by 12.3% and 19.7% respectively over the previous year. At the same time, the companys investment advisory accounts achieved double-digit growth in 2024.Japanese Minister of Economy, Trade and Industry Yoji Muto: We are strongly concerned about whether the US tariff measures are in line with WTO agreements.

Suncor Energy and Elliot Investment Management Enter into a Contract

Haiden Holmes

Jul 19, 2022 10:38

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Monday, Suncor Energy (NYSE:SU) announced an agreement with Elliott Investment Management to propose three new independent directors, two of whom would participate on the CEO search committee and establish a new committee to oversee a strategic evaluation of Suncor's downstream retail business.


"These actions build on Suncor's ongoing efforts to enhance safety, reliability, and operational excellence and to restore its industry leadership position," the firm said.


Following the announcement, shares of Suncor jumped before giving up the majority of their initial gains and closing the day up 1.4%.


Suncor said that it will conduct a strategic examination of its downstream retail business in an effort to unlock shareholder value. According to a statement from Suncor, the evaluation would "study and evaluate a broad range of alternatives, including a potential sale of the firm and actions to maximize value."


A committee of independent directors, directed by Board member Russ Girling and composed of newly appointed members, will oversee the research and provide the Board with a proposal.


It is anticipated that the examination would end in the fourth quarter.


Suncor has appointed three new independent board members, effective immediately, as part of its agreement with Elliott. The board of directors now includes Ian Ashby, a former president of BHP Billiton's Iron Ore Customer Sector Group, Chris Seasons, a former president of Devon Canada, and Jackie Sheppard, a former executive vice president of Corporate and Legal Affairs of Talisman Energy Inc.


Kris Smith, Suncor's temporary chief executive officer, indicated that enhancing safety and operational performance is the leadership team's primary objective. "I look forward to working with the Board, including our new directors, to advance our efforts to generate long-term shareholder value, as well as to communicate our progress in accomplishing our debt reduction and other capital allocation goals, and in restoring confidence in Suncor."

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