Business

Stora Enso publishes Green and Sustainability-Linked Financing Report 2023 By Investing.com

Published

1 month ago

March 28, 2024

HELSINKI, March 28, 2024 /PRNewswire/ — Stora Enso (OTC:) has published its Green and Sustainability-Linked Financing Report for 2023. It details how the proceeds of the green bonds are allocated and outlines the environmental benefits achieved through these bonds.

At the end of 2023, Stora Enso had fourteen outstanding green bonds or bilateral loans, with a total nominal amount of EUR 2,594 million. The proceeds fall into two of the eligible categories associated with Stora Enso’s Green and Sustainability-Linked Financing Framework: Sustainable forest management and Sustainable product processes. The report describes the projects financed with the proceeds and the environmental impacts achieved.

“The report offers insights into our financing practices aligned with our sustainability targets and outlines how investors contribute to our journey. It highlights Stora Enso’s potential to mitigate climate change and promote the circular bioeconomy through forests that sequester carbon and wood-based products replacing fossil-based alternatives,” says Kaarlo HÃ¶ysniemi, SVP Group Treasury.

The Green and Sustainability-Linked Financing Report and Framework are available on storaenso.com.

For further information, please contact:

Kaarlo HÃ¶ysniemi
SVP Group Treasury
tel. +358 400 251 179
Investor enquiries:
Anna-Lena Ã…strÃ¶m
SVP Investor Relations
tel. +46 70 210 7691

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors

STORA ENSO OYJ

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https://news.cision.com/stora-enso-oyj/r/stora-enso-publishes-green-and-sustainability-linked-financing-report-2023,c3953665

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Business

Sony Group, others eyeing buyout of Infocom, Bloomberg News reports By Reuters

Published

1 hour ago

May 9, 2024

Reuters

TOKYO (Reuters) -Sony Group and other parties are considering buying online comic store operator Infocom Corp in a deal worth up to 200 billion yen ($1.28 billion), Bloomberg News reported on Thursday.

Infocom parent Teijin Ltd is aiming to sell its entire stake of around 55% and scheduled a second round of bidding for mid-May, Bloomberg said, citing multiple sources.

Other likely bidders include the U.S. investment funds Blackstone (NYSE:) and KKR, Bloomberg said.

Some bidders are aiming to acquire all of Infocom’s shares through a tender offer that could put the purchase price at 200 billion yen, Bloomberg said, citing once source.

Sony (NYSE:) will bid in concert with investment fund Integral Corp, according to another source, Bloomberg said.

Infocom operates digital comic site MechaComic, which is Japan’s largest, according to its Twitter page. Infocom’s market capitalisation is currently 171 billion yen, according to LSEG data.

($1 = 155.9200 yen)

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Business

Dodger superstar’s confidant pleaded guilty to stealing $17 million from the power hitter to cover debts

Published

12 hours ago

May 9, 2024

Ava Benny-Morrison, Bloomberg

An interpreter for Los Angeles Dodgers star Shohei Ohtani has agreed to plead guilty to criminal charges after secretly transferring about $17 million from the player’s account to pay off gambling debt.

Ippei Mizuhara incurred the debt through an illegal bookmaking operation, which Ohtani had no knowledge of, the US Justice Department said Wednesday. Mizuhara is expected to plead guilty to bank fraud and filing a false tax return in the coming weeks.

“He took advantage of his position of trust to take advantage of Mr. Ohtani and fuel a dangerous gambling habit,” Martin Estrada, the US Attorney for the Central District of California, said in a statement.

The plea agreement comes as Ohtani, a rare combination of pitcher and hitter who signed a record $700 million contract with the Dodgers in December, has become a symbol of MLB’s efforts to expand its brand worldwide.

The Japanese wunderkid began playing in California in 2018 and relied on Mizuhara to act as his translator as his US career took off. Mizuhara, who was charged in April, was not only the 29-year-old’s interpreter but also a close friend and de facto manager, according to federal prosecutors.

Mizuhara’s attorney, Michael Freedman, declined to comment. A spokesperson for the Dodgers did not immediately respond to an email request for comment.

Details of Mizuhara’s fraud were outlined on Wednesday as the Justice Department announced his plan to plead guilty. Mizuhara gained access to Ohtani’s bank account after helping him open an account at a branch in Phoenix in 2018. Mizuhara began placing bets with an illegal bookmaker from September 2021. Saddled with debt, he used Ohtani’s bank login details over the next two and a half years to gain unfettered access to his salary.

He also changed the security protocols on Ohtani’s account so the bank would call Mizuhara to verify any wire transfers, according to prosecutors.

The government says the interpreter siphoned almost $17 million from Ohtani’s accounts. He faces more than 30 years in prison.

Despite the distractions from the scandal, Ohtani is having a big season for the Dodgers, who are on top of the National League West. He’s leading the team in batting average, home runs and hits.

An arm injury has prevented him from pitching this year. Before signing the deal with the Dodgers, he played six seasons for the Los Angeles Angels down the freeway in Anaheim.

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Business

Disney, Warner Bros. Discovery bundle streaming services

Published

14 hours ago

May 8, 2024

Lillian Rizzo,Alex Sherman

In this photo illustration the Disney+ logo seen displayed on a smartphone screen.

SOPA Images | LightRocket | Getty Images

The bundle is back.

Disney and Warner Bros. Discovery are planning to offer their streaming services — Disney+, Hulu and Max — in a bundle mirroring the traditional cable TV package, the companies said Wednesday.

The latest iteration of the bundle, which will be available this summer, will be offered on both the ad-supported and commercial-free tiers. Pricing has yet to be disclosed, but the option will be offered at a discount, according to a person familiar with the matter.

Disney will essentially act as the distributor in this case, collecting subscription fees from subscribers and paying out Warner Bros. Discovery a percentage, the person added.

This mash up of Max, Disney+ and Hulu will give streaming subscribers access to a wide breadth of content from the cable TV bundle. It’ll include broadcast networks ABC and Fox (Fox, which doesn’t have its own entertainment streaming subscription service, licenses it content on Hulu) as well as from cable networks including TNT, TBS, CNN, Discovery Channel, Food Network, Disney Channel and more.

The offering, reminiscent of the traditional cable TV bundle that has been upended in recent years and continues to bleed customers at a fast clip, is the latest partnership between the two media giants in recent months.

Warner Bros. Discovery and Disney’s ESPN, along with Fox Corp., have also joined forces to offer a sports streaming service, which is expected to launch this fall.

Earlier on Wednesday, Fox CEO Lachlan Murdoch said on an earnings call he thought the sports streaming venture would likely be bundled with other entertainment streaming services.

Disney has been offering its streaming services — Disney+, Hulu and ESPN+ — as a bundle for sometime. ESPN+ will still coexist with the sports streaming venture, but is not included in the Warner Bros. Discovery and Disney bundle. Hulu content has also been recently integrated into the Disney+ platform, though they still require separate subscriptions.

Max costs $9.99 a month with ads, or $15.99 without. Disney+’s basic tier with ads costs $7.99 per month — or bundled with Hulu, $9.99 a month — while its premium plan is $13.99 per month, or $19.99 with Hulu. Meanwhile, Hulu on its own costs $7.99 with ads, or $17.99 ad-free.

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