Finance
G20 finance chiefs fail to issue joint statement amid war in Ukraine
Finance chiefs from the Group of 20 advanced and emerging economies on Thursday failed to issue a joint statement amid disagreements over Russia’s war in Ukraine and the Hamas-Israel conflict.
Russia’s invasion of Ukraine has exposed a deep division within the G20 between Russia and China on the one hand and Western nations that have levied sanctions on Moscow on the other.
Brazil, which holds the G20 presidency this year, issued a chair’s summary wrapping up the two days of talks, mentioning in a footnote the finance forum is not the appropriate place to discuss geopolitical issues.
It is not the first time that the group has failed to issue a joint communique, though the finance chiefs did so after reaching a consensus in the previous meeting last year.
G20 finance ministers and central bank governors meet in Sao Paulo, Brazil, on Feb. 29, 2024. (AP/Kyodo)
“More than a few countries strongly condemned Russia’s invasion and the terror attack by Hamas (on Israel), and expressed concern about the alarming humanitarian crisis in Gaza,” Masato Kanda, vice finance minister for international affairs, told a press conference.
“Given the serious negative impact of Russia’s invasion of Ukraine on the global economy, Japan is of the view that the issue should be addressed by the G20,” he said. Kanda attended the meeting on behalf of Finance Minister Shunichi Suzuki, who stayed in Japan for Diet deliberations.
Besides disagreements over geopolitics, the G20 finance ministers and central bank governors shared the view that the global economy is headed for a “soft landing,” meaning that a recession will likely be avoided, according to Kanda.
The chair’s summary noted wars, conflicts, economic divisions and trade protectionism as downside risks to the economy. It retained its existing commitments related to foreign exchange rates.
Despite slowing growth, the global economy has so far avoided a recession that was feared after aggressive interest rate hikes in major economies like the United States and the eurozone and property woes in China.
The G20 has maintained that foreign exchange rates should reflect economic fundamentals, noting that volatile and disorderly moves would negatively affect the global economy.
Brazil has prioritized fighting inequality and creating a sustainable and just world.
During the finance chiefs’ meeting, Brazilian Finance Minister Fernando Haddad called for more equitable taxation targeting the super-rich.
The group consists of the Group of Seven — Britain, Canada, Germany, France, Italy, Japan, the United States and the European Union — along with Brazil, Russia, China, India and Saudi Arabia among others.
Harley-Davidson’s new CEO wants to transform how people think about the iconic motorcycle brand, so the company is trying something different.
This week, Harley announced a new strategy that focuses on lower-priced bikes, rather than relying on older, more affluent customers to buy its higher-margin touring models.
“Back to the Bricks builds on our core strengths and competitive advantages, harnessing the passion of our riders to deliver profitable growth for the Company and both our dealers and shareholders,” Harley CEO Artie Starrs said this week. “As we drive towards this new phase of growth, we remain committed to the craftsmanship and dedication that define our brand.”
Entry-level Harley-Davidsons cost about $13,000, while the higher-end Adventure Touring models average about $23,250, and the Premium Range &CVO models cost about $38,500, according to Reuters.
Harley’s new strategy targets a core profit of over $350 million from its motorcycle business by 2027 and over $150 million in cost reductions.
To kick off the new strategy, Harley is introducing Sprint, a new entry-level model powered by a smaller 440cc engine, later in the year.
What is Harley-Davidson’s “Back to the Bricks” strategy?
Harley’s new strategy relies on more than just pushing buyers toward cheaper vehicles to increase volume. The 123-year-old company has a set of five pillars on which it is building its future.
Harley-Davidson “Back to the Bricks” 5-point plan
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Deep appreciation of Harley-Davidson’s competitive advantages and legacy: The Company’s iconic brand, diversified and powerful revenue channels, and best-in-class dealer network provide a powerful foundation for growth.
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Renewed commitment to exclusive dealer network to drive enterprise profitability: Harley-Davidson’s dealers are a competitive advantage. The Company is planning actions to enable dealers to double profitability in 2026 and then double it again by 2029.
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Immediate actions to recapture share in areas where Harley-Davidson has right to win: Harley-Davidson has strong legacy equity in existing markets including new motorcycles, used motorcycles, Parts & Accessories, and Apparel & Licensing. The Company’s new strategy is focused on positioning the Company to regain share and drive meaningful volume growth in categories where it benefits from credibility, scale, and deep rider connection.
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Strong financial position with a path to stronger free cash flow and EBITDA margin: Cost and restructuring actions already underway support a path to stronger free cash flow and EBITDA margin over time.
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Bolstered management team with balance of fresh perspectives and institutional knowledge: Harley-Davidson has made a number of leadership appointments that support the Company as it leverages its innate strengths.
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
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