Daily News

Source: Financialpost August 05, 2023

Matthew Lau: Canadian governments are spending us into misery

Government spending does not stimulate economic growth (not even in recessions) Two statistics illustrate Canada’s disastrous economic outcomes in recent years and the bleak outlook. First, as Fraser Institute senior fellow and former Statistic...

Source: Financialpost August 05, 2023

Telus to lay off 6,000 workers as net income drops 61%

Cut includes 4,000 workers at its main Telus business and another 2,000 at Telus International VANCOUVER — Telus Corp. says it is cutting 6,000 jobs. We apologize, but this video has failed to load. Try refreshing your brow...

Source: Financialpost August 05, 2023

Canada has no plans to decrease immigration amid housing criticism, new minister says

'I don’t see a world in which we decrease it currently,' Marc Miller says Get the latest from Naimul Karim straight to your inbox Sign Up Canada’s new immigration minister said he is open to “having a conversation” on concerns raised...

Economy Source: Financialpost August 05, 2023

Labour market shows signs of cooling, but wage growth could be concern for Bank of Canada

Economy loses 6,000 jobs, unemployment rate rises to 5.5% The labour market hit a speed bump in July with the unemployment rate rising and the economy unexpectedly shedding jobs, suggesting the Bank of Canada’s interest rate hikes are working t...

Source: BNN Bloomberg August 04, 2023

Bonds slide before U.S. jobs; Amazon up in late trading

The slide in the world’s biggest bond market deepened and stocks fell ahead of the U.S. jobs report, which is expected to provide clues on the outlook for the Federal Reserve’s next steps. In late trading, Amazon.com Inc. climbed after a bullish revenue fo...

Source: BNN Bloomberg August 04, 2023

Bearish or bullish? Experts react to Shopify's Q2 earnings

Following the latest set of earnings from Shopify Inc., experts are split regarding the stock’s ability to provide value for investors.  On Wednesday, the Ottawa-based e-commerce company released its second-quarter results, which included a net loss of US$...

Market Call Source: BNN Bloomberg August 04, 2023

Chris Blumas' Top Picks: August 3, 2023

Chris Blumas, portfolio manager, Raymond James Investment Counsel  FOCUS: North American large caps  MARKET OUTLOOK: One of the primary drivers of the global economy has been the ongoing recovery from the pandemic. Many developed countries have exp...

Source: BNN Bloomberg August 04, 2023

Amazon gains on optimistic outlook fueled by e-commerce business

Amazon.com Inc. shares gained after it gave a sales outlook that topped estimates on a strong performance from its main e-commerce business and reported the slowest pace of spending in at least a decade. The company projected revenue in the current quarter...

Source: BNN Bloomberg August 04, 2023

Apple sluggishness to persist this quarter as slump takes toll

Apple Inc. posted its third straight quarter of declining sales and predicted a similar performance in the current period, hurt by an industrywide slump that has sapped demand for phones, computers and tablets. After the company reported a revenue decline...

Company News Source: BNN Bloomberg August 04, 2023

Nutrien announces strategic actions to cut costs amid economic headwinds

Nutrien Ltd. is indefinitely pausing its potash production ramp-up and suspending work on its Geismar clean ammonia project after a period of "unprecedented volatility" in fertilizer markets, said chief executive Ken Seitz on Thursday. Persistent uncertain...