August 19th, 2019

Business

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 »

Be the first to comment!

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 »

Be the first to comment!

Feds: Capital One suspect may have hacked 30-plus companies

By The Associated Press on August 14th, 2019

SEATTLE – Federal prosecutors say a woman charged in a massive data breach at Capital One may have hacked more than 30 other organizations. Paige Thompson, of Seattle, was arrested last month after the FBI said she obtained personal information from more than 100 million Capital One credit applications. There is no evidence the data ... Read More »

Be the first to comment!

Retailers wrestle with a volatile trade policy with China

By Anne D'Innocenzio, The Associated Press on August 14th, 2019

NEW YORK – Lance Ruttenberg knows too well how fast President Donald Trump’s China trade policies can change. As president and CEO of American Textile Co., he and his team spent weeks on a comprehensive study analyzing how a 10% tariff set for Sept. 1 would affect their business, which makes thousands of bedding items ... Read More »

Be the first to comment!

Warren Buffett’s firm adds to its Amazon, bank investments

By Josh Funk, The Associated Press on August 14th, 2019

OMAHA, Neb. – Billionaire Warren Buffett’s company has been adding more Amazon shares to its investment cart. Berkshire Hathaway said in filings with the Securities and Exchange Commission on Wednesday that it owned 537,300 Amazon shares at the end of June, up from 483,300 shares. Buffett first revealed Berkshire Hathaway’s stake in Amazon in May, ... Read More »

Be the first to comment!

Canopy Growth net revenues surge in first quarter on record cannabis harvest

By The Canadian Press on August 14th, 2019

SMITH FALLS, Ont. – Canopy Growth Corp. says its revenues surged in the first quarter on a record harvest of cannabis. The company based in Smith Falls, Ont., says it generated $90.5 million in net revenues, up from $25.9 million a year earlier. It was driven by a record harvest of more than 40,000 kilograms ... Read More »

Be the first to comment!

TSX and Dow plunge in worst day of the year on growing fears of recession

By The Canadian Press on August 14th, 2019

TORONTO – The main stock indexes in Canada and the U.S. suffered their worst day of the year as North American markets plunged on growing fears of a global recession. The S&P/TSX composite index closed down 304.90 points at 16,045.94, for the largest single-day decrease since last October. In New York, the Dow Jones industrial ... Read More »

Be the first to comment!

An explainer on inverted yield curves and is it a good predictor of recession

By Ross Marowits, The Canadian Press on August 14th, 2019

TORONTO – For the first time since before the Great Recession, the yield curve on two- and 10-year U.S. government bonds has inverted, a possible warning that another recession is on the way. On Wednesday, the yield on the 10-year Treasury briefly fell below the two-year yield. By late afternoon, the rate was 1.58 per ... Read More »

Be the first to comment!

Metro to fast-track tech deployment to boost productivity and profits

By Aleksandra Sagan, The Canadian Press on August 14th, 2019

Metro Inc. will fast-track the deployment of technology such as self-service checkouts and electronic shelf labels to its stores in an effort to lower labour costs, the grocer’s chief executive said Wednesday. The Montreal-based company expects to have self-service checkouts in 100 stores by the end of its 2019 financial year, which ends Sept. 29. ... Read More »

Be the first to comment!

SNC-Lavalin faces renewed questions over future following bombshell report

By The Canadian Press on August 14th, 2019

MONTREAL – A new report from Canada’s ethics watchdog on the government’s handling of the SNC-Lavalin affair is reviving questions about the beleaguered engineering firm’s health, as well as potential broader economic consequences if it continues its path of decline. SNC-Lavalin Group Inc.’s bidding prospects, reputation and stock price have been causes for concern in ... Read More »

Be the first to comment!

Canada Goose shares down despite higher sales as loss, margins widen

By The Canadian Press on August 14th, 2019

TORONTO – Shares of Canada Goose Holdings Inc. fell as much as 10 per cent Wednesday as it reported a wider loss and worsened margins in its first quarter compared to a year earlier. The luxury parka company reported a loss of $29.4 million or 27 cents per share for the quarter ended June 30 ... Read More »

Be the first to comment!