Brookfield Corp. reports Q1 distributable earnings up, US$150B in deployable capital

TORONTO — Brookfield Corp. reported distributable earnings of US$1.22 billion for the first quarter, up from $1.16 billion in the same quarter last year, as weakness in its asset management arm was offset by strength across the other parts of its business.

Brookfield president Nick Goodman says the company delivered strong financial results in the first quarter and expects the positive momentum across its asset management, wealth solutions and operating businesses to drive continued strength over the course of 2024.Revenue for the quarter totalled US$22.91 billion, down from US$23.30 billion in the first quarter of 2023.

CALGARY — Suncor Energy Inc. says it is leasing and operating a number of Aframax oil tanker ships to carry crude from the recently completed Trans Mountain pipeline expansion to Pacific markets. By leasing and operating the tankers itself, Suncor saves on shipping costs, said Dave Oldreive, the company's executive vice-president responsible for refining, sales and marketing.

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