Latest news for Conifex Timber (OTC:CFXTF) Stock

Conifex Timber Inc is a Canada-based forestry company. It operates through two segments: Lumber and Bioenergy. The main activities of the lumbar segment include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber finishing. The firm's primary activities in the bioenergy segment are the generation of electrical power and the development of other opportunities in bioenergy and bioproducts which are complementary to the company's harvesting and manufacturing operations. The firm's main activities areas are the United States, Chinese, Canadian and Japanese markets. The revenues are generated from lumber in the United States of America.

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CONIFEX TIMBER INC by Conifex Timber Inc.

Conifex Timber Inc

The&nbsp;Trump Organization on Friday&nbsp;announced an ethics plan that will see President-elect&nbsp;Donald Trump distancing himself from the company&#8217;s day-to-day operations.
What Happened: The Trump Organization revealed that Trump will not be involved in the company&#8217;s daily management once he assumes office. The company also pledged not to&nbsp;enter into <a href="https://www.benzinga.com/news/23/08/33771698/republican-oversight-committee-chair-accuses-donald-trumps-son-in-law-of-ethical-breach-over-2b-saud">new contracts with&nbsp;foreign governments </a>during Trump&#8217;s presidency,&nbsp;<a href="https://www.wsj.com/politics/trump-organization-says-incoming-president-will-separate-himself-from-family-business-86f7a765">reported</a>&nbsp;The Wall Street Journal on Friday.
The plan states that the Trump Organization will remain free to pursue further foreign business deals with private companies. Lawyer William Burck will assist the company in crafting internal ethics policies to prevent any possible conflicts of interest.
See Also:<a href="https://www.benzinga.com/25/01/42931361/mark-zuckerberg-says-biden-officials-berated-meta-staff-as-they-refused-to-remove-true-content-it-just-got-to-this-pointthats-ridiculous"> Mark Zuckerberg Says Biden Officials Berated Meta Staff As They Refused To Remove &#8216;True&#8217; Content: &#8216;It Just Got To This Point…That&#8217;s Ridiculous&#8217;</a>
Trump&#8217;s investments will be managed independently by external institutions, with the president-elect having limited access to the company&#8217;s financial information. The company also plans to donate profits from <a href="https://www.benzinga.com/news/22/11/29722548/trumps-dc-hotel-host-top-officials-from-6-countries-who-spent-thousands-of-dollars-to-seal-crucial-d">foreign government officials </a>identified at its hotels and other businesses to the U.S. Treasury.
This marks a significant shift from the approach taken when Trump first&nbsp;assumed office in 2017.
Eric Trump, the Trump Organization&#8217;s executive vice president, said, &#8220;The&nbsp;Trump Organization is dedicated to&nbsp;not just meeting but vastly&nbsp;exceeding its legal and ethical&nbsp;obligations during my father's presidency.&#8221; 
Why It Matters: Amid growing scrutiny of its international operations, the Trump Organization has decided to distance Trump from daily business activities and halt <a href="https://www.benzinga.com/markets/asia/23/09/34784560/jared-kushners-controversial-2b-saudi-deal-faces-no-threat-even-if-trump-re-elected-hints-crown-prin">new contracts with foreign governments.</a> This move comes as the company continues to expand its presence in regions where the Trump brand is well-established,<a href="https://www.benzinga.com/news/22/11/29799914/trump-inks-4b-deal-with-saudi-developer-to-build-villas-hotel-and-golf-course-in-oman"> including Asia and the Middle East</a>.
Trump's business dealings have sparked controversy since his first presidency, with accusations of breaching the Constitution&#8217;s emoluments clauses. The Supreme Court dismissed a case related to this issue after Trump's 2020 election loss. Recently, the Trump Organization<a href="https://www.benzinga.com/news/21/10/23342965/trump-in-talks-to-sell-dc-hotel-to-a-rod-connected-investment-firm"> sold the long-term lease</a> for the Trump International Hotel in Washington, D.C., for $375 million, and reports suggest the company is in negotiations to reacquire the property.
Trump faced criticism over his son-in-law Jared Kushner receiving a <a href="https://www.benzinga.com/news/23/09/34517991/raskin-explains-why-democrats-didnt-probe-2b-saudi-investment-in-kushners-firm-in-2020-but-a-complet">$2 billion investment</a> for his private equity firm, Affinity Partners, from a Saudi fund backed by Crown Prince Mohammed bin Salman during his first term in office.
Meanwhile, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) <a href="https://www.benzinga.com/25/01/42874587/djt-stock-riding-the-trump-inauguration-rally-or-bracing-for-a-turn">stock has jumped 106% over the past year,</a> with the rally seemingly coinciding with President-elect Trump's anticipated return to the White House. At $35.31, DJT stock is trading above its 5, 20, and 50-day exponential moving averages, suggesting a bullish trend. However, key indicators present a mixed outlook.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Trump Organization Unveils Ethics Plan To Distance President-Elect Donald Trump From Operations

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