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NoneMonthly allowance increases for newborn children, elderly and disabled people are expected to be implemented on Oct 1 next year, according to Varawut Silpa-archa, Minister of Social Development and Human Security (MSDHS). Speaking on the International Day of Persons with Disabilities at Government House on Tuesday, the minister said the last cabinet meeting approved in principle an increase of the current monthly allowances for the three vulnerable groups. The aim is to provide a universal subsidy of 600 baht per month for every newborn child until they are six years old. The cash handout will not be limited to families with low incomes that have earnings not exceeding 100,000 baht per year. "That income threshold would be removed, and the support will also extend to women in the fourth month of pregnancy," said the minister. People aged 60-69 who now receive a monthly allowance of 600 baht per month would receive 700 baht, while those aged 70-79 who now get 700 baht will receive 850 baht. Senior citizens aged 80-89 will have their allowance raised from 800 baht to 1,000 baht. And those aged 90 or older will have a new allowance of 1,250 baht, up from 1,000 baht, he said. The ministry wants to ensure the cost of living for the elderly is sufficient given the current situation, he said. People with disabilities who today receive a monthly allowance of between 800-1,000 baht, depending on their condition, will receive a flat rate of 1,000 baht. Mr Varawut said the ministry will work with more organisations to find those who deserve but do not have a disabled person ID card to help them obtain one so they can receive the allowance and gain fair access to their other due rights. The ministry will prepare data on each of the three groups -- children, the elderly, and the disabled -- to obtain the budget required for the operation. It will work with the Budget Bureau and Comptroller General's Department of the Ministry of Finance to determine the source of funds. "We expect that at the beginning of fiscal year 2026, each target group of vulnerable people will receive the new allowance rates," Mr Varawut said. Meanwhile, Prime Minister Paetongtarn Shinawatra marked the occasion by saying the government believes in providing equal opportunities for all. "In recognition of the 2024 International Day of Persons with Disabilities, I want to reassure everyone that the government will provide for their basic needs so everyone with a disability can live a happy, fulfilling life and reach their full potential," she said.
Newly appointed French Prime Minister François Bayrou formed the country's fourth government in less than a year, with a key challenge for his cabinet being securing approval for the 2025 budget. The list of France's new ministers under freshly nominated Prime Minister François Bayrou was unveiled on Monday by the Elysée presidential palace secretary, Alexis Kohler. The new cabinet is made up of 34 members, including leading figures and former ministers, mostly conservative and centrist politicians. , the former prime minister, becomes the Minister of Education and the government's second most important figure. remains as the foreign affairs minister. , former Minister of the Interior, becomes the new justice minister. remains as the minister of the interior. , former prime minister under former president François Hollande, becomes minister for overseas territories. remains the minister of the armed forces. remains the minister of culture. becomes the new minister for the economy. , a former minister under François Hollande, becomes the new minister of territories and decentralisation. The goal of the new cabinet is to survive long enough in office until new parliamentary elections can be called next summer. France has been in a political quagmire since French President Emmanuel Macron called for snap elections in the summer after his centrist party lost to the far right in the EU elections. Since then, the country's lower house of parliament has been deadlocked with three distinct blocs unwilling to work together. A key challenge for Bayrou's cabinet is securing approval for the country's 2025 budget. Bayrou's predecessor, Michel Barnier, was ousted less than three months into his tenure after attempting to pass the social security budget without a parliamentary vote, a move that led to his downfall under Macron's administration. The hard-left France Unbowed party (LFI) had already announced its intention to file a no-confidence vote against the new government. The composition of the government was heavily criticised by multiple figures as giving too much power to the far right. Xavier Bertrand, a leading figure of the conservatives, said he turned down a position under Bayrou posting on his X account (formerly Twitter) that he "refuses to participate in a French government formed with the approval of Marine Le Pen." Olivier Faure, the leader of the Socialist Party (PS) hit back at Bayrou's choices calling the new cabinet "a provocation." The new prime minister failed to negotiate with the more moderate Socialists to attempt to form a government and avoid a potential no-confidence vote. The first Council of Ministers is set to meet on 3 January, while the National Assembly remains closed until 13 January, when a confidence vote can be held.
Calgary, Alberta–(Newsfile Corp. – December 3, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) is pleased to announce its 2025 budget. “Our 2025 budget demonstrates the strength of our oil-weighted portfolio as we target continued strong performance in the Eagle Ford, further progression of the Pembina Duvernay and capital efficient heavy oil development. We are focused on disciplined capital allocation to prioritize free cash flow while maintaining a strong balance sheet. In the current commodity price environment this means moderating our growth profile and delivering stable crude oil production,” commented Eric T. Greager, President and Chief Executive Officer. 2025 Budget The Board of Directors has approved a budget for 2025 exploration and development expenditures of $1.2 to $1.3 billion, which is designed to generate average annual production of 150,000 to 154,000 boe/d. Our 2025 budget is based on a US$65/bbl WTI price and generates stable production compared to 2024. Our operated production represents approximately 85% of total corporate volumes, and is forecast to increase 1% in 2025 compared to 2024. Our production profile for 2025 will reflect a reduction in non-operated Eagle Ford volumes due to reduced activity in late 2024 and early 2025. The 2025 capital program is expected to be 60% weighted to the first half of the year. We plan to direct 55% to 60% of our exploration and development expenditures to our Eagle Ford light oil assets in the United States and 40% to 45% to our Canadian assets. In Canada, our capital program is expected to be equally split between light oil and heavy oil. In the Eagle Ford, we expect to bring 54 net wells onstream, including 41 net operated wells. In our Canadian light oil business unit, we expect to bring onstream nine net wells in the Pembina Duvernay and 90 net wells in the Viking. In our heavy oil business unit, we expect to bring onstream 112 net wells, including 33 net Clearwater wells at Peavine. On our operated Eagle Ford acreage, we are shifting to a level-loaded pace of development in order to drive further efficiencies in our business. We intend to run a consistent two rig and one frac crew program for most of the year and are targeting a 7% improvement in operated drilling and completion costs per completed lateral foot compared to 2024. Based on the mid-point of our production guidance of 152,000 boe/d, approximately 56% of our production is in the Eagle Ford with the remaining 44% in Canada. Our production mix is forecast to be 85% liquids (44% light oil and condensate, 28% heavy oil and 13% natural gas liquids) and 15% natural gas, based on a 6:1 natural gas-to-oil equivalency. Based on our production profile and timing of capital expenditures, the majority of our free cash flow is expected to be generated in the second half of the year. We intend to allocate approximately 50% of free cash flow to share buybacks and our base dividend and 50% of free cash flow to further strengthen the balance sheet. 2025 Guidance The following table summarizes our 2025 annual guidance. We expect to exit 2024 producing 152,000 to 153,000 boe/d. For 2025, given the timing of wells to sales in our non-operated Eagle Ford asset, we anticipate production in the first quarter of 147,000 to 149,000 boe/d, with volumes increasing in the following quarters. Our operating and transportation expense guidance is largely unchanged from 2024, after adjusting for a strengthening U.S. dollar relative to the Canadian dollar. Our 2025 guidance is based on an exchange rate of 1.40 CAD/USD. A strengthening U.S. dollar relative to the Canadian dollar positively impacts our free cash flow, while also impacting our cost structure. On an annual basis, a $0.05 CAD/USD change in the foreign exchange rate impacts our operating expense by $0.21/boe, transportation expense by $0.04/boe, exploration and development expenditures by $30 million and total debt (3) by $70 million. 2025 Exploration and Development Expenditures and Wells On-Stream (1) Specified financial measure that does not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and may not be comparable with the calculation of similar measures presented by other entities. Refer to the Specified Financial Measures section in this press release for further information. (2) Supplementary financial measure calculated as operating, transportation, general and administrative or cash interest expense divided by barrels of oil equivalent production volume for the applicable period. (3) Calculated in accordance with our amended credit facilities agreement which is available on SEDAR+ at www.sedarplus.ca . (4) Reflects the mid-point of the exploration and development expenditures guidance range. (5) United States exploration and development expenditures of US$520 million. Based on a Canadian-U.S. exchange rate of 1.40 CAD/USD. 2025 Breakdown of Exploration and Development Expenditures Risk Management We employ a disciplined commodity hedging program to reduce the impact of sustained low commodity prices on our revenues. For the first half of 2025, we have entered into hedges on approximately 45% of our net crude oil exposure utilizing two way collars with an average floor price of US$60/bbl and an average ceiling price of US$88/bbl. For the second half of 2025, we have entered into hedges on approximately 42% of our net crude oil exposure utilizing two way collars with an average floor price of US$60/bbl and an average ceiling price of US$80/bbl. Five-Year Outlook We have updated our five-year outlook (2024 to 2028) to reflect 2024 year-to-date operating and financial results and our plan to prioritize free cash flow and moderate our growth profile. This plan delivers stable production and continued strong shareholder returns at a mid-cycle WTI price of US$75/bbl. With moderated growth, we anticipate annual exploration and development expenditures are maintained at $1.2 to $1.3 billion over the plan period and expect to generate cumulative free cash flow (2)(3) of $3.1 billion with total return of capital (2) , including dividends and share repurchases, of approximately $1.7 billion. We anticipate hitting our total debt (4) target of $1.5 billion in early 2028. Should WTI trade above or below mid-cycle prices for an extended period, we have flexibility to adjust our capital spending and production profile to maximize long-term value for our business. To illustrate our sensitivity to changes in WTI, based on a constant US$65/bbl and US$85/bbl WTI price, over the five-year outlook, we expect to generate free cash flow (1)(2) of $1.5 billion and $4.5 billion, respectively. (1) Reflects the mid-point of the exploration and development expenditures guidance range. (2) Specified financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable with the calculation of similar measures presented by other entities. Refer to the Specified Financial Measures section in this press release for further information. (3) Five-year outlook pricing assumptions: WCS differential – US$13/bbl; NYMEX Gas – US$3.25/MMbtu; Exchange Rate (CAD/USD) – 1.40. (4) Calculated in accordance with the amended credit facilities agreement which is available on SEDAR+ at www.sedarplus.ca . Advisory Regarding Forward-Looking Statements In the interest of providing Baytex’s shareholders and potential investors with information regarding Baytex, including management’s assessment of Baytex’s future plans and operations, certain statements in this press release are “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). In some cases, forward-looking statements can be identified by terminology such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “forecast”, “intend”, “may”, “objective”, “ongoing”, “outlook”, “potential”, “project”, “plan”, “should”, “target”, “would”, “will” or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement. Specifically, this press release contains forward-looking statements relating to but not limited to: that in 2025 we are targeting strong Eagle Ford performance, progression of Pembina Duvernay and capital efficient heavy oil development; our capital allocation to prioritize free cash flow and maintain a strong balance sheet; our expectations for a moderated growth profile and stable crude oil production; our drilling plans for 2025 and the anticipated locations and the timing thereof; our target for improved drilling and completion costs; the composition of our forecasted 2025 production; expected timing of free cash flow during the year and our plans regarding the allocation of free cash flow to share buybacks, base dividend and balance sheet; our 2025 guidance, including exploration and development expenditures (including by operating area and classification), production, average royalty rate, expenses (operating, transportation, general and administrative, interest and current income taxes), leasing expenditures and asset retirement obligations; for 2024 our expected exit rate production; our expected production rate for Q1 2025; the expected impact of the Cad/US dollar exchange rate on our operating expenditures, exploration and development expenditures and total debt; the percentage of our net crude exposure that is hedged for 2025; expectations regarding our five-year outlook, including forecasted production, free cash flow, anticipated shareholder returns, and the sensitivity of the free cash flow over the outlook period to changes in WTI price; our commitments and goals in respect of our five-year outlook; and other similar statements. These forward-looking statements are based on certain key assumptions regarding, among other things: petroleum and natural gas prices and differentials between light, medium and heavy oil prices; well production rates and reserve volumes; our ability to add production and reserves through our exploration and development activities; exploration and development expenditure levels; our ability to borrow under our credit agreements; the receipt, in a timely manner, of regulatory and other required approvals for our operating activities; the availability and cost of labour and other industry services; interest and foreign exchange rates; the continuance of existing and, in certain circumstances, proposed tax and royalty regimes; our ability to develop our crude oil and natural gas properties in the manner currently contemplated; availability of skilled labour; timing and amount of capital expenditures; our future costs of operations are as anticipated; the timing of drilling and completion of wells is as anticipated; that we will have sufficient cash flow, debt or equity sources or other financial resources required to fund our capital and operating expenditures and requirements as needed; that our conduct and results of operations will be consistent with our expectations; that we will have sufficient financial resources in the future to allocate to shareholder returns; current industry conditions, laws and regulations continuing in effect (or, where changes are proposed, such changes being adopted as anticipated); the assumptions set forth in this press release; and other matters. Readers are cautioned that such assumptions, although considered reasonable by Baytex at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Such factors include, but are not limited to: the volatility of oil and natural gas prices and price differentials; restrictions or costs imposed by climate change initiatives and the physical risks of climate change; risks associated with our ability to develop our properties and add reserves; the impact of an energy transition on demand for petroleum productions; changes in income tax or other laws or government incentive programs; availability and cost of gathering, processing and pipeline systems; retaining or replacing our leadership and key personnel; the availability and cost of capital or borrowing; risks associated with a third-party operating our Eagle Ford properties; risks associated with large projects; costs to develop and operate our properties; public perception and its influence on the regulatory regime; current or future control, legislation or regulations; new regulations on hydraulic fracturing; restrictions on or access to water or other fluids; regulations regarding the disposal of fluids; risks associated with our hedging activities; variations in interest rates and foreign exchange rates; uncertainties associated with estimating oil and natural gas reserves; our inability to fully insure against all risks; additional risks associated with our thermal heavy oil projects; our ability to compete with other organizations in the oil and gas industry; risks associated with our use of information technology systems; results of litigation; that our credit facilities may not provide sufficient liquidity or may not be renewed; failure to comply with the covenants in our debt agreements; risks of counterparty default; the impact of Indigenous claims; risks associated with expansion into new activities; risks associated with the ownership of our securities, including changes in market-based factors; risks for United States and other non-resident shareholders, including the ability to enforce civil remedies, differing practices for reporting reserves and production, additional taxation applicable to non-residents and foreign exchange risk; risk that we may not achieve our guidance and five-year outlook due to various factors; risk that our anticipated drilling plans may change; risk that we may not have sufficient financial resources in the future to allocate to forecasted shareholder returns; risk that our actual results of operations is different from that set forth herein; and other factors, many of which are beyond our control. These and additional risk factors are discussed in our Annual Information Form, Annual Report on Form 40-F and Management’s Discussion and Analysis for the year ended December 31, 2023, filed with Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission and in our other public filings. The future acquisition by Baytex of its shares pursuant to a share buyback program, if any, and the level thereof is uncertain. Any decision to acquire shares of Baytex will be subject to the discretion of the Baytex Board of Directors and may depend on a variety of factors, including, without limitation, Baytex’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions, satisfaction of the solvency tests imposed on Baytex under applicable corporate law and receipt of regulatory approvals. There can be no assurance that Baytex will buyback any shares in the future. The above summary of assumptions and risks related to forward-looking statements has been provided in order to provide shareholders and potential investors with a more complete perspective on Baytex’s current and future operations and such information may not be appropriate for other purposes. There is no representation by Baytex that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and Baytex does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law. This press release contains information, including in respect of our 2025 budget, five-year outlook and 2025 guidance, that may be considered a financial outlook under applicable securities laws about Baytex, which are subject to numerous assumptions, risk factors, limitations and qualifications, including those set forth herein. The actual results will vary from the amounts set forth in this press release and such variations may be material. This information has been provided for illustration only and with respect to future periods are based on budgets and forecasts that are speculative and are subject to a variety of contingencies. The financial outlook contained in this press release was made as of the date of this press release and was included in order to provide readers with a more complete perspective on Baytex’s future operations and may not be appropriate for other purposes. Accordingly, these estimates are not to be relied upon as indicative of future results. Except as required by applicable securities laws, Baytex undertakes no obligation to update such financial outlook. Readers are cautioned that the financial outlook contained in this press release is not conclusive and is subject to change. Dividend Advisory Future dividends, if any, and the level thereof is uncertain. Any decision to pay dividends on the common shares (including the actual amount, the declaration date, the record date and the payment date) will be subject to the discretion of the Board of Directors of Baytex and may depend on a variety of factors, including, without limitation, Baytex’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and satisfaction of the solvency tests imposed on Baytex under applicable corporate law. There can be no assurance that we will pay dividends in the future. All amounts in this press release are stated in Canadian dollars unless otherwise specified. Specified Financial Measures In this press release, we refer to certain specified financial measures (such as free cash flow, average royalty rate, total sales, net of blending and other expense, and return of capital) which do not have any standardized meaning prescribed by IFRS. While these measures are commonly used in the oil and natural gas industry, our determination of these measures may not be comparable with calculations of similar measures presented by other reporting issuers. There are no significant differences in the calculations between historical and forward-looking specified financial measures. Non-GAAP Financial Measures and Ratios Free cash flow in this press release may refer to a forward-looking non-GAAP measure that is calculated consistently with the measures disclosed in the Company’s Management’s Discussion & Analysis (“MD&A”). Cumulative free cash flow is calculated consistently with free cash flow and sums together the forecasted free cash flow during the five-year outlook period (2024-2028). The most directly comparable financial measure for free cash flow disclosed in the Company’s primary financial statements is cash flows from operating activities. For the three and nine months ended September 30, 2024, cash flows from operating activities was $550.0 million and $1.4 billion, respectively, and free cash flow was $220.2 million and $400.7 million, respectively. For information on the composition of free cash flow and how the Company uses this measure, refer to the “Specified Financial Measures” section of the MD&A for the period ended September 30, 2024, which section is incorporated herein by reference, and available on the SEDAR+ website at www.sedarplus.ca . Average royalty rate is calculated as royalties divided by total sales, net of blending and other expense which is a non-GAAP measure. Total sales, net of blending and other expense may refer to a forward-looking non-GAAP measure that is calculated consistently with the measures disclosed in the Company’s MD&A. The most directly comparable financial measure for total sales, net of blending and other expense disclosed in the Company’s primary financial statements is petroleum and natural gas sales. For the three and nine months ended September 30, 2024, petroleum and natural gas sales was $1.1 billion and $3.2 billion, respectively, and total sales, net of blending and other expense was $1.0 billion and $3.0 billion respectively. For information on the composition of total sales, net of blending and other expense and average royalty rate and how the Company uses these measures, refer to the “Specified Financial Measures” section of the MD&A for the period ended September 30, 2024, which section is incorporated herein by reference, and available on the SEDAR+ website at www.sedarplus.ca . Return of capital is comprised of dividends declared and repurchase of common shares and is used to measure the amount of capital returned to shareholders during a given period. Cumulative return of capital is calculated consistently with return of capital and sums together the forecasted free cash flow during the five-year outlook period (2024-2028). Return of capital in this press release may refer to a forward-looking non-GAAP measure and is calculated consistently with the historical return of capital. Historical return of capital for the three and nine months ended September 30, 2024 and 2023 is calculated below. Advisory Regarding Oil and Gas Information Where applicable, oil equivalent amounts have been calculated using a conversion rate of six thousand cubic feet of natural gas to one barrel of oil. The use of boe amounts may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. This press release contains certain oil and gas metrics, including capital efficiencies, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate Baytex’s performance; however, such measures are not reliable indicators of the future performance and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon. This press release contains certain oil and gas metrics, including capital efficiencies, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate Baytex’s performance; however, such measures are not reliable indicators of the future performance and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon. Baytex Energy Corp. Baytex Energy Corp. is an energy company with headquarters based in Calgary, Alberta and offices in Houston, Texas. The company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Baytex’s common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232323 #distro
NEW YORK — U.S. stocks tiptoed to more records amid a mixed Tuesday of trading, tacking a touch more onto what’s already been a stellar year so far. The S&P 500 edged up by 2 points, or less than 0.1%, to set an all-time high for the 55th time this year. It’s climbed in 10 of the last 11 days and is on track for one of its best years since the turn of the millennium. The Dow Jones Industrial Average slipped 76 points, or 0.2%, while the Nasdaq composite added 0.4% to its own record set a day earlier. AT&T rose 4.6% after it boosted its profit forecast for the year. It also announced a $10 billion plan to send cash to its investors by buying back its own stock, while saying it expects to authorize another $10 billion of repurchases in 2027. On the losing end of Wall Street was U.S. Steel, which fell 8%. President-elect Donald Trump reiterated on social media that he would not let Japan’s Nippon Steel take over the iconic Pennsylvania steelmaker. Nippon Steel announced plans last December to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. Earlier this year, President Joe Biden also came out against the acquisition. Tesla sank 1.6% after a judge in Delaware reaffirmed a previous ruling that the electric car maker must revoke Elon Musk’s multibillion-dollar pay package. The judge denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. All told, the S&P 500 rose 2.73 points to 6,049.88. The Dow fell 76.47 to 44,705.53, and the Nasdaq composite gained 76.96 to 19,480.91. In the bond market, Treasury yields held relatively steady after a report showed U.S. employers were advertising slightly more job openings at the end of October than a month earlier. Continued strength there would raise optimism that the economy could remain out of a recession that many investors had earlier worried was inevitable. The yield on the 10-year Treasury rose to 4.23% from 4.20% from late Monday. Yields have seesawed since Election Day amid worries that Trump’s preferences for lower tax rates and bigger tariffs could spur higher inflation along with economic growth. But traders are still confident the Federal Reserve will cut its main interest rate again at its next meeting in two weeks. They’re betting on a nearly three-in-four chance of that, according to data from CME Group. Lower rates can give the economy more juice, but they can also give inflation more fuel. The key report this week that could guide the Fed’s next move will arrive on Friday. It’s the monthly jobs report , which will show how many workers U.S. employers hired and fired during November. It could be difficult to parse given how much storms and strikes distorted figures in October. Based on trading in the options market, Friday’s jobs report appears to be the biggest potential market mover until the Fed announces its next decision on interest rates Dec. 18, according to strategists at Barclays Capital. In financial markets abroad, the value of South Korea’s currency fell 1.1% against the U.S. dollar following a frenetic night where President Yoon Suk Yeol declared martial law and then later said he’d lift it after lawmakers voted to reject military rule. Stocks of Korean companies that trade in the United States also fell, including a 1.6% drop for SK Telecom. Japan’s Nikkei 225 jumped 1.9% to help lead global markets. Some analysts think Japanese stocks could end up benefiting from Trump’s threats to raise tariffs , including for goods coming from China . Trade relations between the U.S. and China took another step backward after China said it is banning exports to the U.S. of gallium, germanium, antimony and other key high-tech materials with potential military applications. The counterpunch came swiftly after the U.S. Commerce Department expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity list” are nearly all based in China. In China, stock indexes rose 1% in Hong Kong and 0.4% in Shanghai amid unconfirmed reports that Chinese leaders would meet next week to discuss planning for the coming year. Investors are hoping it may bring fresh stimulus to help spur growth in the world’s second-largest economy. In France, the CAC 40 rose 0.3% amid continued worries about politics in Paris , where the government is battling over the budget. AP Business Writers Yuri Kageyama and Matt Ott contributed.OAKVILLE, Ontario — Harvest Portfolios Group Inc. (“Harvest”) today announces the revised estimated annual reinvested distributions for Harvest ETFs for the 2024 tax year. Please be advised that the estimated distributions announced in this press release replace those stated in the November 28, 2024 press release for the Harvest ETFs. Each of the Harvest ETFs is required to distribute any income and capital gains that they have earned during the year. The annual distributions will not be paid in cash but will be reinvested and immediately consolidated so that the number of units held by the unitholder, the units outstanding of the ETFs, and the net asset value of the ETFs will not change as a result of the non-cash distributions. The annual distributions will be reported as taxable distributions and result in an increase to each unitholder’s adjusted cost base for the respective ETF. The actual taxable amounts and nature of distributions for the respective ETFs as either income or capital gains will be reported to brokers through CDS Clearing and Depository Services Inc. (“CDS”) in early 2025. Harvest expects to announce the final year-end reinvested distribution amounts on or about December 31, 2024. The ex-dividend date for the 2024 annual reinvested distributions will be December 31, 2024 for all unitholders of record on December 31, 2024. Details regarding the estimated annual reinvested distribution amounts are below. These amounts do not include any ongoing monthly cash distributions which are disclosed separately. For Class U units, amounts are in U.S. dollars. All other amounts are in Canadian dollars. For additional information: Please visit , e-mail or call toll free 1-866-998-8298. Harvest ETFs invites you to subscribe to our monthly commentary newsletter. By subscribing through the following link, you will receive timely insights, analyses and perspectives directly to your inbox: For media inquiries: Contact Caroline Grimont, VP Marketing at Founded in 2009, Harvest is an independent Canadian Investment Fund Manager managing $5.3 billion in assets for Canadian Investors. At Harvest ETFs, we believe that investors can build and preserve wealth through the long-term ownership of high-quality businesses. This fundamental philosophy is at the core of our investment approach across our range of ETFs. Our core offerings center around covered call strategies, available in four variations: Equity, Enhanced, Fixed Income, and Balanced. In August 2024, we launched Harvest High Income Shares ETFs, which are designed to generate high monthly cash distributions and exposure to long-term growth through single-stock ownership. ____________________________ Website: E-mail: Toll free: 1-866-998-8298 ________________________________ ________________________________ LinkedIn: Twitter: Facebook: YouTube: Spotify: ________________________________ Website: E-mail: Toll free: 1-866-998-8298
Claims ‘woke’ ad sent Jaguar stocks plummeting are falseJustin Baldoni’s Publicist Breaks Silence, Defends Leaked Texts About Blake Lively
