08/04/2025

˻ ͙ ˜ ͓͓͖͑

BIZ & FINANCE

Ű TVOCJ[!UIFTVOEBJMZ DPN Hj´¹ ¿©´ Љ€Ø¿Ì Ø¿ Љ‰ ¹©º©¹j´ ©¹Éj€Ø ’Ì¿¹ ŗřơ WO ØjÌ©’’ 1653"+":" .BMBZTJB T QBMN PJM JOEVTUSZ JT FYQFDUFE UP POMZ TFF NJOJNBM JNQBDU PO UIF UBSJGG JNQPTFE CZ UIF 6OJUFE 4UBUFT EVF UP B MPXFS SBUF DPNQBSFE UP DPNQFUJUPST BOE MJNJUFE FYQPSUT UP UIF 64 BDDPSEJOH UP UIF .BMBZTJBO 1BMN 0JM #PBSE .10# .10# EJSFDUPS HFOFSBM %BUVL %S "INBE 1BSWFF[ (IVMBN ,BEJS TBJE .BMBZTJB JT TUJMM UIF DIFBQFTU PQUJPO BNPOH UIF UPQ FYQPSUFST i0UIFS NBKPS QSPEVDFST BSF CFJOH UBYFE FWFO NPSF *OEPOFTJB GBDFT B UBSJGG BOE 5IBJMBOE *O UIBU TFOTF XF IBWF UIF BEWBOUBHF w IF TBJE BU B QSFTT DPOGFSFODF JO DPOKVODUJPO XJUI UIF TJHOJOH PG B NFNP SBOEVN PG BHSFFNFOU ZFTUFSEBZ CFUXFFO .10# BOE 4VNJ4BVKBOB 5$. $IFNJDBMT UP DPNNFSDJBMJTF QBMN CBTFE QPMZPM )F BEEFE UIBU UIF 64 BDDPVOUT GPS POMZ BCPVU PG .BMBZTJB T QBMN PJM FYQPSUT NBJOMZ GPS OJDIF JOEVTUSJBM VTFT SBUIFS UIBO HFOFSBM DPPLJOH i5IF WPMVNF JT RVJUF TNBMM CVU JU T TUJMM BO JNQPSUBOU NBSLFU 5IF 64 FTQFDJBMMZ DPOUJOVFT UP OFFE QBMN PJM GPS TQFDJGJD TFDUPST MJLF DPOGFDUJPOFSZ *U T OPU VTFE MJLF JO PUIFS DPVOUSJFT GPS FWFSZEBZ DPPLJOH TP JU TFSWFT B OJDIF NBSLFU 5IF EFNBOE TIPVME SFNBJO BT JU EPFTO U EJSFDUMZ DPNQFUF XJUI PUIFS PJMT w #VU UIF UBSJGG NBZ JOJUJBMMZ BGGFDU .BMBZTJB EVF UP QPTTJCMF TVQQMZ DIBJO EJTSVQUJPOT "INBE 1BSWFF[ TBJE i5IF GJOBM JOGMVFODF XJMM CF PO UIFJS PXO DPOTVNFST CFDBVTF JU XJMM JNQBDU UIF GJOBM QSPEVDU 5IF QSPEVDU XJMM IBWF UP CF QBJE CZ UIF DPOTVNFST JO UIF GVUVSF w )PXFWFS IF TBJE UIF 64 UBSJGG XJMM OPU CFDPNF B NBKPS JTTVF JO UIF MPOH SVO "INBE 1BSWFF[ IJHIMJHIUFE POHPJOH DIBMMFOHFT GSPN UIF &VSPQFBO 6OJPO %FGPSFT UBUJPO 'SFF 3FHVMBUJPO BOE UIF 3FOFXBCMF &OFSHZ %JSFDUJWF ** i'PS VT XF BSF EJWFSTJGZJOH PVS QBMN PJM o OPU POMZ GPS DPNNPEJUZ PJM CVU BMTP GPS PUIFS IJHI WBMVF BQQMJDBUJPOT w IF TBJE )F BEEFE UIBU UIF NJOJTUSZ UPHFUIFS XJUI .10# JT OPU GPDVTFE PO BOZ TJOHMF DPVOUSZ i8F USZ UP EJWFSTJGZ BOE FOTVSF PVS QBMN PJM JT BDDFQUFE HMPCBMMZ 8F SF FYQMPSJOH PUIFS NBSLFUT -BTU ZFBS GPS FYBNQMF PVS FYQPSUT UP UIF 1IJMJQQJOFT JODSFBTFE RVJUF ESBTUJDBMMZ 4P "INBE 1BSWFF[ TBJE JG UIFSF JT BOZ IVSEMF JO UIF 64 PS &VSPQF JU XBOUT UP NBLF TVSF UIBU PVS HPPE SFMBUJPOTIJQ XJUI BMM UIF DPOTVNFS DPVOUSJFT JT BMXBZT TUSPOH i5IFSF BSF NBOZ MBSHF NBSLFUT PVU UIFSF *G ZPV DPNQBSF WFSTVT BDUVBMMZ PVS FYQPSU IBT CFFO JODSFBTJOH CZ BSPVOE MBTU ZFBS w "T .BMBZTJB JT DIBJSJOH "TFBO UIJT ZFBS IF TBJE UIF DPVOUSZ IBT BO PQQPSUVOJUZ UP TUSFOHUIFO SFHJPOBM USBEF UJFT i"OE * IPQF UIBU XJUI .BMBZTJB MFBEJOH "TFBO XF XJMM TFF JODSFBTFE FYQPSUT UP PVS "TFBO OFJHICPVST XIP BSF NVDI DMPTFS UP VT w "DDPSEJOH UP $*.# 4FDVSJUJFT UIF 64 UBSJGGT XJMM SBJTF UIF DPTU PG QBMN PJM GPS "NFSJDBO FOE VTFST

W 8¿©´‰ ºj¹‰Ð ¢‰H¿©ºØ jÐ Ś$ ( ©º’ÌjÐØÌۀØÛ̉ ÉjÌØº‰Ì ,6"-" -6.163 .BMBZTJB T OFYU HFOFSBUJPO ( OFUXPSL QSPWJEFS 6 .PCJMF JOGSBTUSVDUVSF QBSUOFST i"T QBSU PG UIJT QBSUOFSTIJQ CPUI QBSUJFT

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o #FSOBNB

XJMM XPSL DMPTFMZ PO ( *#$ EFQMPZNFOU BT XFMM BT GPDVTJOH PO EFWFMPQJOH BOE EFQMPZJOH UIF NPTU TVJUBCMF TPMVUJPOT UBJMPSFE UP FBDI TJUF FOIBODJOH OFUXPSL QFSGPS NBODF BOE VTFS FYQFSJFODF i"EEJUJPOBMMZ CPUI QBSUJFT XJMM DPMMBCPSBUF UP EFMJWFS B

4EO #IE IBT TJHOFE B NFNP SBOEVN PG VOEFSTUBOEJOH XJUI &EHF1PJOU *OGSBTUSVDUVSF 4EO #IE B MFBEJOH "TFBO CBTFE JOEF QFOEFOU UFMFDPNNVOJDBUJPOT JO GSBTUSVDUVSF DPNQBOZ UP BDDFMF SBUF 6 .PCJMF T VQDPNJOH SPMMPVU PG ( BDSPTT UIF DPVOUSZ *O B KPJOU TUBUFNFOU ZFTUFSEBZ

DPTU FGGFDUJWF BOE SBQJE SPMMPVU w JU TBJE 6 .PCJMF TBJE UIF DPMMBCPSBUJPO BJNT UP BDDFMFSBUF UIF SPMMPVU PG ( UFDIOPMPHZ

JU TBJE UIJT MBUFTU DPMMBCPSBUJPO XPVME TFF &EHF1PJOU CFDPNF POF PG 6 .PCJMF T QSFGFSSFE ( JO CVJMEJOH DPWFSBHF *#$

(ºº¿äjØ©ä‰ ’Ûº ©º¢ 䩨j´ ©º Љjº ´¿åī€jÌ¿º j¢‰º j

QBSUJDVMBSMZ GPS TPMBS UFDIOPMPHZ BOE XF SFNBJO TP UJMM UPEBZ i5IBU JT XIZ SBUIFS UIBO TFF DMJNBUF BDUJPO BT B CVSEFO PS ESBH PO HSPXUI JU JT BO PQQPS UVOJUZ UP MJHIU VQ OFX FOHJOFT PG HSPXUI 'PS UIJT JU XJMM CF JNQPSUBOU GPS EPNFTUJD CBDL XBSE BOE GPSXBSE MJOLBHFT JO TVQQMZ DIBJOT UP CF FOIBODFE XJUIJO "TFBO BOE OPU GPSHFUUJOH UP EFWFMPQ IVNBO DBQJUBM UP GVMMZ IBSOFTT UIF HSPXUI QPUFOUJBM u IF TBJE *O EJSFDUJOH GJOBODJBM GMPXT UPXBSET EFDBS CPOJTBUJPO BOE HSFFO FGGPSUT "NJS )BN[BI TBJE UIF SFHJPO IBT EFWFMPQFE UIF "TFBO 5BYPOPNZ GPS 4VTUBJOBCMF 'JOBODF XIJDI JOWFTUPST GJOBODJFST BOE GVOEFST DBO SFGFS UP XIFO NBLJOH UIFJS EFDJTJPOT )F BEEFE UIBU UIF GPVSUI WFSTJPO PG UIF UBY POPNZ JT TFU UP CF SFMFBTFE CZ ZFBS FOE i5IF FDPOPNJD BOE DMJNBUF JNQFSBUJWFT BSF DMFBS CVU BDIJFWJOH NFBOJOHGVM QSPHSFTT SFRVJSFT B TVQQPSUJWF SFHVMBUPSZ FOWJSPONFOU TIBQFE CZ UIF QVCMJD TFDUPS *OEFFE UIF QVC MJD TFDUPS QMBZT B DSJUJDBM SPMF JO BDDFMFSBUJOH HSFFO JOWFTUNFOUT i)PXFWFS HPWFSONFOUT DBOOPU CF UIF TPMF ESJWFS PG DMJNBUF BDUJPO (JWFO UIF TDBMF PG JOWFTUNFOUT OFFEFE JU XPVME CF DIBMMFOHJOH GPS HPWFSONFOUT UP NFFU BMM GVOEJOH OFFET BT XF CBMBODF BOE NBOBHF UIF USBEF PGGT CFUXFFO FDPOPNJD EFWFMPQNFOU BOE DMJNBUF FYQFOEJUVSF u IF TBJE *O UIJT SFHBSE IF TBJE DPMMBCPSBUJPO CFUXFFO UIF QVCMJD BOE QSJWBUF TFDUPST XJMM CF LFZ PG XIJDI B QVCMJD QSJWBUF BOE QIJMBO UISPQJD QBSUOFSTIJQ NPEFM XJMM CF LFZ UP BDDFMFSBUJOH DMJNBUF BDUJPO UIBU BMJHOT XJUI CPUI OBUJPOBM BOE SFHJPOBM QSJPSJUJFT i0G DPVSTF UIFSF DPVME CF NBOZ NPEBMJUJFT TVDI BT CMFOEFE GJOBODF UIBU DBO CF FYQMPSFE 4QFDJGJDBMMZ *TMBNJD GJOBODF PGGFST JOOPWBUJWF TUSVDUVSFT UIBU DBO CF UBQQFE u IF TBJE 5IF SPVOUBCMF XBT IFME JO DPOKVODUJPO XJUI UIF GPVS EBZ UI "TFBO 'JOBODF .JOJTUFST BOE $FOUSBM #BOL (PWFSOPST .FFUJOH BOE SFMBUFE NFFUJOHT XIJDI CFHBO ZFTUFSEBZ m #FSOBNB " OFX QSPEVDUJPO MJOF DBMMFE i5SBEF 5ISFFw XBT DPNNJTTJPOFE JO MBUF %FDFNCFS XIJDI HJWFT UIFN UIF JOGSBTUSVDUVSF OFFEFE UP TVQQPSU UIJT OFX WFOUVSF i%FQFOEJOH PO GVSUIFS 3 % XJUI .10# XF XPO U OFFE NVDI NPSF JOWFTUNFOU UP CFHJO QSPEVDUJPO w /PSBM[BN TBJE .10# EJSFDUPS HFOFSBM %BUVL %S "INBE 1BSWFF[ (IVMBN ,BEJS TBJE UIJT DPMMBCPSBUJPO XPVME QSPWJEF UIF JOEVTUSZ QMBZFST XJUI UIF PQQPSUVOJUZ UP FYQMPSF UIF QPUFOUJBM PG .10# T JOOPWBUJWF UFDIOPMPHJFT BOE DPOUSJCVUF UP UIF HSPXUI PG B NPSF TVTUBJOBCMF BOE DPNQFUJUJWF DIFNJDBM JOEVTUSZ BU UIF HMPCBM MFWFM CZ )":"56/ 3";",

ËÖËãÝÓË ÍÙ××ÓÞÞÏÎ ÞÙ ÎÜÓàÓØÑ ÝÙÖßÞÓÙØÝ ÞÒËÞ ËÎÎÜÏÝÝ ÜÏÑÓÙØ˪Ý ÍÖÓ×ËÞÏ ÍÒËÖÖÏØÑÏÝ ÞÒÜÙßÑÒ ÐÓØËØÍÏ˝ ×ÓÜ Ë×äËÒ

,6"-" -6.163 *OOPWBUJWF GVOEJOH NFDIBOJTNT BSF WJUBM GPS "TFBO UP BDDFMFSBUF JUT USBOTJUJPO UPXBSET B MPX DBSCPO FDPOPNZ XIJMF TUSFOHUIFOJOH DMJNBUF SFTJMJFODF JO B KVTU JODMVTJWF BOE PSEFSMZ XBZ TBJE 'JOBODF .JOJTUFS ** %BUVL 4FSJ "NJS )BN[BI "[J[BO )F TBJE .BMBZTJB BT "TFBO DIBJS JT DPNNJU UFE UP ESJWJOH USBOTGPSNBUJWF QSJPSJUZ FDP OPNJD EFMJWFSBCMFT UIBU BEESFTT UIF SFHJPO T VSHFOU DMJNBUF DIBMMFOHFT UISPVHI GJOBODF i0VS QSJPSJUZ BSFBT JODMVEF DBUBMZTJOH BDDFTT UP GJOBODF GPS B KVTU BOE PSEFSMZ USBOTJ UJPO BOE CVJMEJOH B DMJNBUF SFTJMJFOU "TFBO 5IJT JOWPMWFT TFDVSJOH JOOPWBUJWF GVOEJOH NFDIBOJTNT BOE TPMVUJPOT UP TVQQPSU JOGSB TUSVDUVSF JOJUJBUJWFT MJLF UIF "TFBO 1PXFS (SJE BOE UIF DBSCPO DBQUVSF BOE TUPSBHF QSPKFDUT

i* USVTU UIBU JG XF QVU PVS NJOET UP JU UPHFUIFS XF DBO VOMPDL UIF HSFBU QPUFOUJBM BOE PQQPSUVOJUJFT UIBU DMJNBUF BDUJPO QSFTFOUT BOE MFBWF CFIJOE B MFHBDZ PG FOEVSJOH FDP OPNJD QSPTQFSJUZ GPS HFOFSBUJPOT UP DPNF u IF TBJE JO IJT PQFOJOH SFNBSLT BU UIF "TFBO *OWFTUPST 3PVOEUBCMF IFSF ZFTUFSEBZ "U UIF SPVOEUBCMF FOUJUMFE i6OMPDLJOH 0QQPSUVOJUJFT UP "EWBODF "TFBO $MJNBUF *OJUJBUJWFTu "NJS )BN[BI TBJE UIF "TFBO SFHJPO JT XFMM QPTJUJPOFE UP ESJWF UIF HSFFO USBOTJUJPO BOE FGGPSUT UP CVJME DMJNBUF SFTJMJFODF XIJMF TUSFOHUIFOJOH FDPOPNJD BOE FOFSHZ TFDVSJUZ i8F IBWF TFFO UIJT JO UIF QBTU XJUI UIF QVTI UPXBSET SFOFXBCMF FOFSHZ HFOFSBUJPO 0O UIJT GSPOU "TFBO QPTJUJPOFE JUTFMG BT BO JNQPSUBOU QMBZFS JO UIF HMPCBM TVQQMZ DIBJO

"NJS )BN[BI TFDPOE GSPN MFGU EFMJWFSJOH PQFOJOH SFNBSLT BU UIF "TFBO *OWFTUPST 3PVOEUBCMF 6OMPDLJOH 0QQPSUVOJUJFT UP "EWBODF "TFBO $MJNBUF *OJUJBUJWFT IFME JO DPOKVODUJPO XJUI UIF UI "4FBO 'JOBODF .JOJTUFST BOE $FOUSBM #BOL (PWFSOPST .FFUJOH BU UIF ,VBMB -VNQVS $POWFOUJPO $FOUSF ZFTUFSEBZ o #&3/"."1*$

OÛ¹©OjÛ±jºj $Ì¿ÛÉ ä‰ºØÛ̉Р©ºØ¿ Ðɉ€©j´Øç €¨‰¹©€j´Ð ©º ÛÐØÌç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i8F FYQFDU POF PG UIF QSPEVDUT DBO CF DPNNFSDJBMJTFE XJUIJO TJY NPOUIT BOE BMM UISFF TIPVME CF DPNNFSDJBMJTFE XJUIJO B ZFBS XPSLJOH DMPTFMZ XJUI .10# w

i5IF HMPCBM NBSLFU GPS QPMZVSFUIBOF BMPOF JT XPSUI PWFS 64 CJMMJPO 3. CJMMJPO BOE QBMN CBTFE JOUFSNFEJBUFT BSF WBMVFE BU 64 CJMMJPO 5IJT TIPXT IVHF QPUFOUJBM GPS .BMBZTJB T QBMN PJM JOOPWBUJPOT UP UBQ JOUP UIFTF NBSLFUT w IF TBJE BU UIF TJHOJOH PG B NFNPSBOEVN PG BHSFFNFOU XIJDI JODMVEFT MJDFOTJOH BOE

5IF HSPVQ IBT TJHOFE B MJDFOTJOH BOE DPNNFSDJBMJTBUJPO BHSFFNFOU XJUI UIF .BMBZTJBO 1BMN 0JM #PBSE .10# UP QSPEVDF BOE TFMM UISFF UZQFT PG QBMN CBTFE DIFNJDBMT o QBMN CBTFE JOUFSNFEJBUFT QBMN CBTFE QPMZPMT BOE CJP CBTFE QPMZFTUFS QPMZPMT

/PSB[MBN TBJE OP NBKPS OFX JOWFTUNFOU JT OFFEFE CFDBVTF UIFZ IBWF BMSFBEZ TUBSUFE FYQBOEJOH UIFJS QMBOU JO BOUJDJQBUJPO PG UIJT QSPKFDU

Made with FlippingBook Online newsletter creator