August 19th, 2019

Business

North American stock markets down, loonie edges lower against U.S. dollar

By The Canadian Press on August 15th, 2019

TORONTO – Canada’s main stock index fell in late-morning as disappointing results from Canopy Growth Corp. weighed on the health care sector which includes the big cannabis companies, while the heavyweight energy, financial and industrial sectors also fell. The S&P/TSX composite index was down 50.90 points at 15,995.04. In New York, the Dow Jones industrial ... Read More »

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Canopy Growth shares tumble after Q1 earnings miss, $1.28B loss

By The Canadian Press on August 15th, 2019

SMITHS FALLS, Ont. – Canopy Growth Corp. shares were down more than 10 per cent Thursday after the cannabis producer reported first quarter results that widely missed analysts’ expectations. Canopy reported Wednesday it lost $1.28 billion during the three months ended June 30, its fiscal first quarter of 2020, compared with a loss of $91 ... Read More »

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Walmart delivers big in 2Q

By Anne D'Innocenzio, The Associated Press on August 15th, 2019

NEW YORK – Walmart offered a dose of optimism amid growing concerns over weakening economic growth by raising its annual outlook after a strong second quarter. Sales at stores opened at least a year rose 2.8%, its 20th consecutive quarter in the right direction as the world’s largest retailer continues to expand its grocery delivery ... Read More »

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US stocks steady after plunge, but caution still reigns

By Stan Choe, The Associated Press on August 15th, 2019

NEW YORK – Stocks around the world remained stuck in the spin cycle Thursday, as worries about a possible recession collided with hopes that the strongest part of the U.S. economy – shoppers spending at stores and online – can keep going. The S&P 500 flipped between modest gains and losses in morning trading, a ... Read More »

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HBC says Catalyst declined a request to extend its offer for stake in retailer

By The Canadian Press on August 15th, 2019

TORONTO – The special committee of the board at Hudson’s Bay Co. says Catalyst Capital Group Inc. has turned down a request to extend a deadline for its offer for a roughly 10.7 per cent stake in the retailer. The bid by the investment firm, which is seeking to buy the shares in an effort ... Read More »

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Dashcams provide ‘unbiased witness’ when bad things happen to good drivers

By Dan Healing, The Canadian Press on August 15th, 2019

CALGARY – In a video taken through the windshield of Dung Le’s 15-year-old Toyota Echo, an oncoming car breaks the monotony of a wide, nearly empty street on a quiet August morning in a sprawling residential Edmonton neighbourhood. As it approaches, the car leaves its lane as though turning into a driveway, then straightens and ... Read More »

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Canadian Real Estate Association reports home sales climbed higher in July

By The Canadian Press on August 15th, 2019

OTTAWA – The Canadian Real Estate Association says home sales in July rose 12.6 per cent compared with the same month last year. The increase came as sales were up in most of the country’s largest markets, including the B.C.’s Lower Mainland, Calgary, Edmonton, the Greater Toronto Area and Hamilton-Burlington, Ottawa and Montreal. On a ... Read More »

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US productivity grew a healthy 2.3% rate in 2nd quarter

By Christopher Rugaber, The Associated Press on August 15th, 2019

WASHINGTON – U.S. productivity increased at a decent pace in the second quarter, a trend that could lead to higher wages if it continues. The Labor Department said Thursday that productivity – or output per hour worked – rose 2.3% in the April-June quarter, down from 3.5% in the first three months of the year. ... Read More »

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Walmart delivers, a lot, in second quarter

By Anne D'Innocenzio, The Associated Press on August 15th, 2019

NEW YORK – Walmart raised its annual outlook after a strong second quarter for the world’s largest retailer thanks in part to strong online grocery deliveries. Sales at stores opened at least a year rose 2.8%, its 20th consecutive quarter in the right direction. U.S. online sales increased 37%, driven by grocery sales. Walmart continues ... Read More »

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Global stocks lower after US falls on recession fear

By Joe McDonald, The Associated Press on August 15th, 2019

BEIJING – Global stock markets were mostly lower Thursday after Wall Street fell on mounting fears of a possible recession. Benchmarks in London, Tokyo and Sydney declined while Shanghai closed higher after spending most of the day in negative territory. Frankfurt was unchanged. U.S. investors dumped stocks Wednesday, sending the Dow Jones Industrial Average into ... Read More »

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Canopy Growth books $1.3B Q1 loss as soaring expenses offest revenue growth

By The Canadian Press on August 14th, 2019

SMITH FALLS, Ont. – Canopy Growth Corp. reported a net loss of nearly $1.3 billion as higher expenses offset revenue growth in the first quarter. Canopy reported Wednesday it lost $1.28 billion during the three months ended June 30, its fiscal first quarter of 2020, compared with a loss of $91 million in the first ... Read More »

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