Core Insights - Brookfield Business Partners reported a net loss of $59 million for Q3 2025, a significant decline from a net income of $301 million in Q3 2024, primarily due to lower tax recoveries and gains on dispositions [2][3][43] - The company achieved an Adjusted EBITDA of $575 million for Q3 2025, down from $844 million in the same period last year, reflecting the impact of lower ownership in three businesses following partial sales [3][4][30] - The CEO highlighted successful acquisitions and capital recycling initiatives, including the acquisition of a Canadian mortgage lender for $2.6 billion, which is expected to enhance growth [2][11] Financial Performance - For the three months ended September 30, 2025, net income attributable to unitholders was a loss of $59 million, translating to a loss of $0.28 per unit, compared to a profit of $301 million or $1.39 per unit in the prior year [2][3] - Adjusted EBITDA by segment for Q3 2025 was as follows: Industrials $316 million, Business Services $188 million, Infrastructure Services $104 million, and Corporate $(33) million [3][4] - The total revenue for Q3 2025 was $6.919 billion, down from $9.232 billion in Q3 2024, with direct operating costs also decreasing to $5.663 billion from $7.069 billion [30] Operational Highlights - The Industrials segment saw a 17% increase in Adjusted EBITDA to $316 million, excluding tax recoveries, driven by contributions from recent acquisitions [4][5] - The Business Services segment's Adjusted EBITDA was $188 million, impacted by the sale of a partial interest in dealer software operations [6] - The Infrastructure Services segment reported Adjusted EBITDA of $104 million, affected by the sale of offshore oil services operations [8] Strategic Initiatives - The company is simplifying its corporate structure by converting into a single listed corporation, which has been positively received by investors [2][12] - A special meeting for security holders is scheduled for January 13, 2026, to vote on the proposed corporate reorganization [14][15] - The company ended Q3 2025 with approximately $2.3 billion in liquidity, which is expected to increase to $2.9 billion post-announced transactions [18] Distribution and Shareholder Information - The Board declared a quarterly distribution of $0.0625 per unit, payable on December 31, 2025, to unitholders of record as of November 28, 2025 [19][44] - The company aims to align dividends on exchangeable shares with distributions on partnership units to provide equivalent economic returns [45][47]

Group 1 - Heineken's reorganization at its Amsterdam headquarters will impact around 400 jobs [1]

Core Viewpoint - Flagstar Financial, Inc. has received a recommendation from Institutional Shareholder Services (ISS) for shareholders to vote "FOR" the company's proposals to merge the holding company into its bank subsidiary at the upcoming Special Meeting of Shareholders on October 15 [1][2]. Group 1: Company Overview - Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the United States, headquartered in Hicksville, New York [3]. - As of June 30, 2025, the company reported $92.2 billion in assets, $64.4 billion in loans, $69.7 billion in deposits, and total stockholders' equity of $8.1 billion [3]. - Flagstar Bank operates approximately 360 locations across nine states, with significant presence in the greater New York/New Jersey metropolitan area and the upper Midwest, as well as growing markets in Florida and the West Coast [3]. Group 2: Strategic Initiatives - The proposed reorganization aims to simplify the organizational structure, streamline managerial and operational functions, reduce costs, and eliminate redundant corporate activities [2]. - The endorsement from ISS highlights the strategic benefits of the reorganization, which is seen as a milestone in the company's transformation efforts [2]. - The company is committed to delivering value to shareholders while building a diversified, leading regional bank [2].

Core Viewpoint - The beauty giant is undergoing a reorganization to focus on higher-end beauty brands and mass-market fragrances [1] Group 1 - The company is shifting its strategy to emphasize premium beauty products [1] - The reorganization aims to enhance the brand portfolio by prioritizing high-end offerings [1] - Mass-market fragrances will also be a key area of focus in the new strategy [1]

Core Viewpoint - Brookfield Business Partners is simplifying its corporate structure by merging Brookfield Business Partners LP and Brookfield Business Corporation into a single publicly traded entity, BBU Inc., to enhance investor accessibility and drive long-term value for shareholders [1][2]. Corporate Reorganization Details - The reorganization will involve a one-for-one exchange of existing BBU limited partnership units, BBUC class A exchangeable shares, and redemption-exchange units for new class A shares of BBU Inc. [3] - BBU Inc. shares will be listed on both the NYSE and TSX, reflecting the combined market capitalization of BBU and BBUC [3]. - Following the transaction, BBU and BBUC will cease to be reporting issuers, while BBU Inc. will become a reporting issuer [3]. Financial Implications - BBU Inc. will maintain an annual dividend of $0.25 per share, consistent with current distributions to BBU and BBUC shareholders [4]. - Management fees to Brookfield Asset Management will be based on BBU Inc.'s market capitalization rather than the combined market capitalization of BBU and BBUC [4]. Transaction Process - The transaction will be executed through a court-approved plan of arrangement, requiring approval from BBU unitholders and BBUC shareholders, along with customary regulatory approvals [5]. - Independent committees from both BBU and BBUC have been established to review the transaction, with external advisors retained for financial and legal guidance [6]. Anticipated Benefits - The reorganization aims to provide broader access to global investors who prefer corporate structures, improve trading liquidity, and increase demand due to expected index inclusion [8]. - The transaction is tax-deferred for both Canadian and U.S. investors, simplifying financial reporting and eliminating partnership tax reporting forms [8].

Core Viewpoint - DuPont has revised its 2025 net sales forecast to approximately $6.87 billion, reflecting the planned spin-off of its electronics unit and the divestiture of its Aramids business [1][2] Group 1: Financial Forecasts - The company lowered its third-quarter adjusted profit forecast to $1.06 per share from an earlier forecast of $1.15 per share due to the sale of the Aramids business [2] - Previously, DuPont had forecasted 2025 net sales of $12.85 billion, indicating a significant reduction in expectations [2] Group 2: Business Divestitures - DuPont plans to sell its heat-resistant fiber business, Aramids, which includes brands like Kevlar, to Arclin for $1.8 billion as part of a broader reorganization [2] - The Aramids unit will be treated as discontinued operations starting in the third quarter [1] Group 3: Future Updates - The company will provide an update on its full-year adjusted profit forecast during its third-quarter earnings call as it finalizes its capital structure [3]

Core Insights - Reed's, Inc. is undergoing a corporate reorganization to enhance operational efficiency and position the company for long-term success [2][4] - The company is making key investments to strengthen its commercial strategy, including the establishment of a dedicated field sales organization [2] - Tina Reejsinghani has been appointed as the new Chief Marketing Officer, bringing over 20 years of global marketing experience [3][4] Organizational Changes - The reorganization is part of a broader strategic realignment aimed at strengthening the company's foundation for future growth [2] - Chris Burleson, the Chief Commercial Officer, has resigned effective September 12, 2025, after contributing to strategic growth initiatives since February 2023 [4][5] Leadership Appointments - Tina Reejsinghani's previous experience includes leading marketing for a $500 million Cognac portfolio, achieving 30% year-over-year growth [3] - Reejsinghani's expertise in brand storytelling and experiential marketing is expected to play a crucial role in Reed's growth and brand expansion [3][4] Company Overview - Reed's is a leader in handcrafted, natural ginger beverages, with a portfolio that includes ginger beers, ginger ales, and a new functional soda line [6] - The company operates under the brand names Reed's®, Virgil's®, and Flying Cauldron®, with products sold in over 32,000 stores nationwide [5][6]

Core Viewpoint - Aldebaran Resources Inc. plans to transfer its project portfolio in Argentina into a new Canadian subsidiary, SpinCo, which will focus on copper, gold, and silver exploration while Aldebaran continues to concentrate on the Altar copper-gold project [1][9]. Company Developments - Sam Leung has been appointed as the CEO and Director of SpinCo, bringing 20 years of experience in the mining sector, particularly in South America [2][12]. - The reorganization aims to unlock additional value for shareholders by allowing them to maintain exposure to the Altar project while also receiving shares in SpinCo [9]. Project Highlights - **Rio Grande Project**: Best intercept recorded is 257.20 m of 0.53% Cu and 1.20 g/t Au, with drill permits expected in H1 2026 [4]. - **Aguas Calientes**: Located in Salta Province, with significant resources including 71.0 million tonnes of 0.30% Cu, 0.36 g/t Au, and 3.2 g/t Ag [7]. - **Other Projects**: Include El Camino, Oscara, La Frontera, and Catua, with various mineralization potentials and historical drilling results [7]. Next Steps - SpinCo plans to complete private financing to fund a field program in 2025/2026, focusing on geochemistry and geophysics to prepare Rio Grande and Aguas Calientes for drilling [14]. - The spinout of SpinCo shares to Aldebaran shareholders is expected to be completed under the Business Corporations Act (Alberta), with plans for a public listing [14].

Core Viewpoint - Flagstar Financial, Inc. has announced a merger agreement with Flagstar Bank, where the Company will merge into the Bank, simplifying its organizational structure and operations [1][2][4] Group 1: Merger Details - The merger will result in Flagstar Bank, N.A. as the surviving entity, with its common stock continuing to trade under the ticker symbol "FLG" on the NYSE [1] - The reorganization aims to reduce costs, streamline operations, and eliminate redundant corporate activities [2] Group 2: Approval Process - The merger is subject to regulatory and shareholder approval, with a proxy statement expected to be filed with the SEC in Q3 2025 [3] - The Company anticipates completing the merger before the end of 2025, assuming all approvals are received [3] Group 3: Company Overview - As of March 31, 2025, Flagstar Financial, Inc. had $97.6 billion in assets, $67.1 billion in loans, $73.9 billion in deposits, and total stockholders' equity of $8.2 billion [4] - Flagstar Bank operates approximately 400 locations across nine states, with a strong presence in the New York/New Jersey metropolitan area and significant markets in Florida and the West Coast [4]

Core Viewpoint - Jasper Therapeutics is undergoing a significant corporate reorganization, including a workforce reduction of approximately 50%, to extend its cash runway and focus on the development of briquilimab for chronic urticaria [1][6]. Company Updates - The company is halting all other clinical and preclinical programs to concentrate resources on briquilimab, which targets mast cell-driven diseases such as chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU) [1][6]. - Dr. Edwin Tucker is departing as Chief Medical Officer, with Dr. Daniel Adelman stepping in as Acting Chief Medical Officer [1][6]. Product Development - Briquilimab is a novel antibody therapy that inhibits signaling through the KIT receptor, leading to the depletion of mast cells and addressing the inflammatory response in mast cell-driven diseases [5][7]. - The company has reported rapid, deep, and durable responses along with a favorable safety profile for briquilimab in both CSU and CIndU [2][6]. Future Plans - Jasper plans to share additional data from the BEACON and open label extension studies later in the year, indicating ongoing commitment to briquilimab's development despite the operational streamlining [2][6].