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Financial News

zerohedge130d ago

Russian Airlines Suspend Flights To Cuba, Begin Evacuation Of Citizens, Over Fuel Crisis

Russian Airlines Suspend Flights To Cuba, Begin Evacuation Of Citizens, Over Fuel Crisis Another major blow has hit Cuba as its economy gets decimated by US-led sanctions, and as Trump's embargo of vital Venezuelan oil for the island continues rolling downhill (Mexico had quickly followed suit by halting its oil to Cuba as well).Amid the fuel shortage which has caused mass disruptions and flight stoppages at the main hub José Martí international Airport, two of Russia's largest airlines have announced the suspension of flights to Cuba.Russian aviation file imageMoscow has already declared operations to evacuate all Russian tourists and citizens who wish to leave, and so outbound-only flights to bring them home have been authorized.Rossiya, part of the Aeroflot group, and Severny Veter (Nordwind), are impacted - and the outbound-only evacuation flights have been authorized to begin Thursday.The airlines said they are being forced to redirect flight routes in the region "due to challenges with refueling in Cuba."This follows on the heels of flagship carrier Air Canada being one of the first major international airlines to suspend flights. Canada currently has no economic sanctions against Cuba, and trades with the island-nation, having maintained diplomatic relations going all the way back to 1959.While Americans have by and large been absent from the Caribbean nation, also given no direct flights from the US, Cuba has long been a favored tropical vacation destination for Canadians. Earlier this month international reports said Cuba was merely days from running out of fuel, and widescale power outages across various districts of the country have only worsened. "The last known delivery came via a tanker from Mexico in early January, but Mexico halted exports amid US pressure," The Guardian notes. "At the same time, crude flows from Venezuela have dried up after a US operation in January that resulted in the capture of Nicolás Maduro, cutting off support from Cuba’s most trusted energy supplier."Havana's lone primary international airport has seen drastic developments such as the following:In recent hours, a video has gone viral on social media showing dozens of tourists disembarking from a plane on the tarmac in Moscow after their flight to Cuba was aborted just before takeoff.The testimonies collected by the Russian outlet Mash on Telegram indicate that passengers on flight SU6849 had almost taken off when, "at the last moment, when the engines were already running, the pilot announced that there was no fuel in Havana," forcing the flight to be canceled at the last minute.The below scene was captured days ago...A herd of Russian savages had to disembark their flight to Cuba at the last minute, after the beleagured Russian-allied nation stated that there is no longer any jet fuel in the country. pic.twitter.com/LknL3kSA1s— Jay in Kyiv (@JayinKyiv) February 9, 2026The Kremlin meanwhile says it is exploring ways to get urgent humanitarian assistance to the Cuban people, as the economic situation and national infrastructure spirals.Putin spokesman Dmitry Peskov said Monday that "the stranglehold imposed by the United States is already causing a lot of difficulties for Cuba" and this has resulted in the two allies discussing "possible ways to resolve these problems or at least provide all possible assistance." Tyler DurdenWed, 02/11/2026 - 18:00

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McDONALD’S PLEDGES RM1BIL TO YOUTH AND GROWTH
thestar_my130d ago

McDONALD’S PLEDGES RM1BIL TO YOUTH AND GROWTH

WHEN McDonald's Titiwangsa first opened in 1988, it introduced Malaysians to the drive-thru concept. Thirty-eight years later, on the same Jalan Pahang plot, the restaurant has once again become a symbol of what's next for the brand and of the brand's future and its commitment to the national economy. Read full story

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UK GDP expected to show weak economic growth in Q4
fxstreet130d ago

UK GDP expected to show weak economic growth in Q4

Markets will be watching closely on Thursday, when the United Kingdom’s (UK) Office for National Statistics (ONS) will release the advance estimate of Q4 Gross Domestic Product (GDP).

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Pro Medicus interim earnings surge on record profits
fool_au130d ago

Pro Medicus interim earnings surge on record profits

Pro Medicus interim results impress with record revenue, surging profits, and strong new contract wins.The post Pro Medicus interim earnings surge on record profits appeared first on The Motley Fool Australia.

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Ferretti Group’s Ownership Structure Undergoes Changes KKCG Plans to Increase Stake, Prompting Countermeasures from Weichai
londonjournal130d ago

Ferretti Group’s Ownership Structure Undergoes Changes KKCG Plans to Increase Stake, Prompting Countermeasures from Weichai

The ownership structure of Italian luxury yacht manufacturer Ferretti Group has recently seen developments. On January 19, Czech investment group KKCG Maritime proposed a voluntary tender offer, aiming to invest up to €182 million to raise its stake in Ferretti from approximately 15.4% to 29.9%—just below the 30% threshold that would trigger a mandatory takeover [...]

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Ellsworth Growth and Income Fund Ltd. Declares Distribution of $0.19 per Share Reaffirms Annualized Distribution of $0.76 per Share
manilatimes130d ago

Ellsworth Growth and Income Fund Ltd. Declares Distribution of $0.19 per Share Reaffirms Annualized Distribution of $0.76 per Share

RYE, N.Y., Feb. 11, 2026 (GLOBE NEWSWIRE) -- The Board of Trustees of Ellsworth Growth and Income Fund Ltd. (NYSE American: ECF) (the "Fund”) declared a $0.19 per share cash distribution payable on March 24, 2026 to common shareholders of record on March 17, 2026. This is a 20% increase from $0.16 per share, bringing the annualized distribution rate to $0.76 from $0.64 per share.The Fund intends to pay the greater of either an annual distribution of 5% of the Fund’s trailing 12-month average month-end market price or an amount that meets the minimum distribution requirement of the Internal Revenue Code for regulated investment companies.Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. If necessary, the Fund pays an adjusting distribution in December, which includes any additional income and net realized capital gains in excess of the quarterly distributions. The Fund’s distribution policy is subject to modification or termination by the Board of Trustees at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and with income that exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.Long-term capital gains, qualified dividend income, investment company taxable income and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, the current distribution paid in 2026 to common shareholders with respect to the Fund’s fiscal year ending September 30, 2026 would include approximately 4% from net investment income and 96% from net capital gains on a book basis. This information does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website. The final determination of the sources of all distributions in 2026 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2026 distributions in early 2027 via Form 1099-DIV.Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:Bethany Uhlein(914) 921-5546About Ellsworth Growth and Income Fund Ellsworth Growth and Income Fund Ltd. is a diversified, closed-end management investment company with $213 million in total net assets. ECF invests primarily in convertible securities and common stock with the objectives of providing income and the potential for capital appreciation, objectives the Fund considers to be relatively equal over the long-term due to the nature of the securities in which it invests. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).NYSE American: ECFCUSIP - 289074106Investor Relations Contact: Bethany Uhlein914.921.5546buhlein@gabelli.com

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Gabelli Convertible and Income Securities Fund Declares Distribution of $0.12 Per Share
manilatimes130d ago

Gabelli Convertible and Income Securities Fund Declares Distribution of $0.12 Per Share

RYE, N.Y., Feb. 11, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Convertible and Income Securities Fund Inc. (NYSE:GCV) (the "Fund”) declared a $0.12 per share cash distribution payable on March 24, 2026 to common stock shareholders of record on March 17, 2026.The Fund intends to pay a minimum annual distribution of 8% of the average net asset value of the Fund within a calendar year or an amount sufficient to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The average net asset value of the Fund is based on the average net asset values as of the last day of the four preceding calendar quarters during the year. The net asset value per share fluctuates daily.Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the current financial market environment. The Fund’s distribution policy is subject to modification by the Board of Directors at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.All or part of the distribution may be treated as long-term capital gain or qualified dividend income (or a combination of both) for individuals, each subject to the maximum federal income tax rate for long term capital gains, which is currently 20% in taxable accounts for individuals (or less depending on an individual’s tax bracket). In addition, certain U.S. shareholders who are individuals, estates or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income", which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund.If the Fund does not generate sufficient earnings (dividends and interest income, less expenses, and realized net capital gain) equal to or in excess of the aggregate distributions paid by the Fund in a given year, then the amount distributed in excess of the Fund’s earnings would be deemed a return of capital. Since this would be considered a return of a portion of a shareholder’s original investment, it is generally not taxable and would be treated as a reduction in the shareholder’s cost basis.Long-term capital gains, qualified dividend income, investment company taxable income, and return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. Based on the accounting records of the Fund currently available, the current distribution paid in 2026 to common shareholders with respect to the Fund’s fiscal year ending September 30, 2026 would include approximately 4% from net investment income, 20% from net capital gains and 76% would be deemed a return of capital on a book basis. This does not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2026 will be made after year end and can vary from the quarterly estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All individual shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2026 distributions in early 2027 via Form 1099-DIV.Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. For more information regarding the Fund’s distribution policy and other information about the Fund, call:Bethany Uhlein (914) 921-5546About Gabelli Convertible and Income Securities Fund The Gabelli Convertible and Income Securities Fund Inc. is a diversified, closed-end management investment company with $95 million in total net assets whose primary investment objective is to seek a high level of total return on its assets through a combination of current income and capital appreciation. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).NYSE: GCV CUSIP - 36240B109Investor Relations Contact:Bethany Uhlein(914) 921-5546buhlein@gabelli.com

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Sonoro Energy (CVE:SNV) Hits New 12-Month Low – Here’s What Happened
watchlistnews130d ago

Sonoro Energy (CVE:SNV) Hits New 12-Month Low – Here’s What Happened

Sonoro Energy Ltd. (CVE:SNV – Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as C$0.04 and last traded at C$0.04, with a volume of 509710 shares trading hands. The stock had previously closed at C$0.05. Sonoro Energy Price Performance The business has a fifty day moving average [...]

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AAC Technologies (OTCMKTS:AACAY) Sees Unusually-High Trading Volume – Time to Buy?
watchlistnews130d ago

AAC Technologies (OTCMKTS:AACAY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of AAC Technologies Holdings Inc. (OTCMKTS:AACAY – Get Free Report) saw strong trading volume on Wednesday . 33,010 shares were traded during trading, an increase of 684% from the previous session’s volume of 4,211 shares.The stock last traded at $4.75 and had previously closed at $4.63. AAC Technologies Stock Performance The company has a [...]

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