Daily News

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...

Source: BNN Bloomberg August 04, 2023

TSX recap: Index down 0.48% despite energy gains

Canada's main stock index was down almost 100 points despite strength in energy stocks, while U.S. markets also moved lower. The S&P/TSX Composite Index closed down 97.47 points, or 0.48 per cent, at 20,120.74. In New York, the Dow Jones Industrial Aver...

Source: BNN Bloomberg August 04, 2023

Shopify falls on investor growth concerns despite revenue beat

Shares of Shopify Inc. dropped as investor concerns about long-term growth outweighed the Canadian e-commerce platform’s outlook for the current quarter. Shopify said Wednesday that revenue in the current quarter will grow by 20 per cent or more. Even so,...

Source: BNN Bloomberg August 04, 2023

Open Text Corp. reports net loss in fourth quarter, launches AI strategy

Open Text Corp. reported a net loss of US$48.7 million in its fourth quarter, down from earnings of US$102.2 million during the same quarter last year.  Revenues for the quarter ended June 30 were US$1.5 billion, up from US$902.5 million last year.  The...

Source: Financialpost August 04, 2023

Tourmaline Oil joins proposed Pacific LNG terminal in major boost to project

Canada's largest natural gas producer A proposed liquefied natural gas export terminal on Canada’s Pacific Coast is getting a major boost as Tourmaline Oil Corp. — the country’s largest natural gas producer — agreed to join the project....

Source: Financialpost August 04, 2023

Posthaste: 'Greedflation' not to blame for rising prices, Bank of Canada research says

Costs, not rising margins, the real inflation culprit, study says We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: 'Greedflation' n...

Source: Financialpost August 04, 2023

First home savings account getting 'phenomenal' uptake since April launch: RBC

Both RBC and National Bank say demand for new tax-free savings vehicle has exceeded expectations There’s been a lot of interest in opening a first home savings account (FHSA) among Canadians since the federal government introduced the registere...

Source: Financialpost August 04, 2023

The CRA has clarified the rules for its new home renovation tax credit: What you need to know

Jamie Golombek: Main home and secondary unit for a relative can be built at same time and still qualify for $7,500 credit Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commissio...