Financial

I hope you had a great Memorial Day, and spent some part of the day thinking about those who gave their lives to defend our freedoms. The New York Times used the holiday weekend for a different purpose: to do its latest takedown of executive pay. It noted that CEO pay packages climbed in 2016 after slipping in 2015, and credited the "Trump bump" in the post-election stock market for much of the surge. The story included this interesting statistic: President Trump has met with 307 "highly paid ex...
After returning to the U.S. from his first international trip, President Donald Trump said the relationship between Germany and the U.S is”very bad” and “will change.” Trump’s early Tuesday morning tweet also slammed Germany’s trade surplus and defense spending and comes after he and German Chancellor Angela Merkel, among other leaders, gathered at the G7 summit in Italy last week. “We have a MASSIVE trade deficit with Germany, plus they pay FAR LESS tha...
Actress Jessica Chastain has emerged as a champion of women in Hollywood, speaking frequently about the entertainment industry’s wage gap and her own efforts to achieve pay parity with her male counterparts. The star of Zero Dark Thirty and The Help further cemented that reputation on Sunday when--as a jury member of the 2017 Cannes Film Festival--she spoke candidly at a press conference about the “quite disturbing” way women were portrayed in the movies she viewed at the annua...
President Donald Trump has unsettled a number of the United States’s allies--and Americans themselves, Senator John McCain said during a speech in Australia on Tuesday. McCain, who is one of Trump’s most vocal Republican critics, told the crowd in Sydney that he understands why Australians and other U.S. allies would doubt America’s commitment to them after Trump took office. “I realize that I come to Australia at a time when many are questioning whether America is still ...
The traditional relationship between so-called bond proxies like telcos, utilities and REITs, and bonds themselves, has broken down. While these sectors usually lag the broader market when interest rates rise, and lead the market when rates fall, the correlation between bond proxies and the rest of the market is now near zero. Jonathan Golub, chief equity strategist at RBC Capital Markets, pointed out that bond proxies are behaving more like bonds than usual, and in the past year, the group has ...
Scotiabank boosted its second-quarter net income by 30 per cent to $2.06 billion, in a period that saw all of the country’s biggest banks shrug off concerns about high house prices and overstretched borrowers. Scotiabank’s earnings amounted to $1.62 per share, compared with $1.23 per share or $1.58 billion of net income during the second quarter of 2016. The bank had $6.58 billion of revenue during the three-month period ended April 30, compared with $6.59 billion a year ago. All of Canada...
CALGARY • Alberta is spending more money per person through the oil price collapse than Ontario’s government did at the height of the 2008/2009 recession, according to a report released Tuesday. The Vancouver-based Fraser Institute released a report Tuesday comparing deficits in Alberta and Ontario during the two downturns and found the Alberta government is spending 65 per cent more per person than Ontario did. Adjusted for inflation, the report says that Alberta’s government deficits ove...
FinanceFeeds - This is a guest editorial by Paul Orford, Head of Institutional Sales at AMB Prime. At the time of writing this article, the popular Crypto Currency BitCoin had just reached the price of around $2700 USD per coin. Much like many other people, the rocket like trajectory in its value had piqued my interest in finding out more about it. When performing a cursory look at the charts to try and grasp some form of analysis on price direction, I could not help think about whether this was...
R&B star Ne-Yo is sponsoring a software coding camp at San Francisco’s Holberton School of Software Engineering this summer. The program is part of Holberton’s mission to find and train minorities in software programming skills that are in high demand in the city and surrounding areas. The camp is born out of Ne-Yo’s previously announced investment in Holberton--he participated in a $2.3 million round announced in February, and he has since joined the Holberton board of tru...
Denny’s calls itself America’s diner, a description that evokes coffee, club sandwiches, and pies, as well as late-night restaurant hours and bar stools. But now, Denny’s says it wants to take the diner experience to your doorstep. On Tuesday, Denny’s denn is announcing it will embrace digital ordering with a new mobile and online ordering system that will allow customers to place an order for takeout or delivery. The diner will als...
Good morning. Editor Nicole MacAdam (@nicole_mac1) here. Husky green lights a $2.2 billion offshore project in a “motivated” Newfoundland, an economic forecast says the Western provinces are expected to fuel economic growth, and cyber attacks are expected to rise — but few companies are prepared. Happy Tuesday! ‘Motivated’ Newfoundland lands $2.2B Husky project Husky Energy has given the thumbs up to the next big project offshore of Newfoundland and Labrador, showi...
U.S. President Donald Trump ruffled feathers during his visit to Europe last week. Aside from pushing past Montenegro Prime Minister Dusko Markovic and engaging in a hand-shake-off with new French President Emmanuel Macron, Trump scolded Germany for its trade surplus and did not commit the U.S. to staying in the Paris climate accord. German Chancellor Angela Merkel seemed to issue a response in a Bavarian beer tent in Munich during a campaign rally on Sunday. She signaled that Europe can no long...
Quantify Technology Holdings (ASX: QFY) delivered a double dose of good news on Tuesday morning, resulting in the company’s shares increasing nearly 10%. It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice. Management informed the market that an agreement had been struck with Cisco Internet of Everything Innovation Centre (CIIC) to showcase an...
Argentinean focused lithium exploration company Lake Resources N.L. (ASX:LKE) has confirmed the successful permitting progress of circa 49,000 hectares of exploration applications at its Olaroz – Cauchari Lithium Brine Project in the Jujuy Province, Argentina. The applications adjoin the production leases owned by Orocobre and SQM/Lithium Americas and have the potential to display lithium in the same aquifers. This development could be the trigger for a share price rerating, as the company...
The views and opinions expressed in this article are those of Bruce Hopkins. You should not act on these views or opinions without undertaking your own due diligence as to the voracity and accuracy of his views and opinions. These views and opinions may be wrong or misleading. On Sydney’s Bondi Beach, Bondi Rescue’s Bruce ‘Hoppo’ Hopkins tells The Capital Network’s Lelde Smits about his challenges as a lifeguard, how technology is changing his work and why he’s backing the technol...
From 2005 to 2015, Stephen Knight was CEO of NSW Treasury Corporation, the central borrowing and investment management agency for NSW. Having joined TCorp in 1996 with 16 years’ in private sector banking, Stephen saw TCorp through a critical decade which included the financial crisis – leaving it with a healthy balance sheet of around $75 billion, and a further $70 billion of funds under management. Stephen now serves on a number of boards and committees including the Australian Office of Fi...
Ever since Bitcoin first appeared on the scene several years ago, fans of the cryptocurrency have been searching for a way to apply the idea that might capture the public imagination and broaden the use of the technology beyond just geeks and programmers. Now, some believe that application has appeared with the rise of the “token” economy, in which companies or startup ventures fund their operations by handing out units of cryptocurrencies. Some companies have even done what are know...
In the great natural resource company shakeout which lasted from 2009 to 2016, Orefinders (V.ORX) was very nearly a casualty. “We actually founded the company in 2012,” said Stephen Stewart Orefinders CEO, “We were not interested in operating a mine. We wanted to explore land we thought was prospective.” The company raised 6 million dollars in 2013 and got to work on its Mirado Gold Project located thirty-five kilometers south-east of the town Kirkland Lake Ontario, a region which is the...
Royal Bank of Canada’s investment arm has launched a new coaching program for LGBT professionals in the capital markets industry in the Greater Toronto area, which the bank says is the first program of its kind in the country. The program, called Common Grounds, has been launched in a partnership with LGBT in Capital Markets, a not-for-profit organization that advances LGBT individuals in the capital markets industry. “There is a tremendous business case for diversity, and this progr...
Through a series of small but decisive steps taken over the past 18 months, Deveron UAS Corp., a drone data services company that focuses on the agriculture sector, is slowly taking flight. The latest development in that steady build came Monday when Deveron announced that it had been given the green light by the Minister of Transport to operate across Canada. Prior to this, Deveron, which started life in 2012 as Deveron Resources and whose major shareholder is Greencastle Resources, had receive...
Bombardier’s ongoing five-year restructuring campaign is on track to significantly improve operating margins, according to a BMO analyst who is upgrading the stock despite the turnaround plan’s high degree of risk. Fadi Chamoun raised the Quebec-based company’s rating from perform to outperform and said the 2020 valuation could surpass $5.00 if management is successful with the  plan, which aims to improve productivity while reducing costs and focusing on key product dev...
TORONTO — The benefits of Ontario’s renewed economic growth are not shared evenly across the province, Premier Kathleen Wynne said Monday as she planned to announce a raise to minimum wage as well as much anticipated changes to labour laws. Wynne and Labour Minister Kevin Flynn are scheduled to make the announcements Tuesday morning. “Now that we have an economy that really is doing so well, and is leading, we can now distribute that well-being a bit better,” she told The...
WINNIPEG/MONTREAL — Canadian rail shippers are urging Ottawa to intervene in a looming strike at Canadian National Railway Co, the country’s largest railroad, fearing that a shut-down would immediately damage business. The union representing CN’s 3,000 Canadian conductors has set a strike deadline of Tuesday at 4 a.m. EDT (0800 GMT) after the railroad announced new work rules during negotiations to replace an expired contract. It would be the first strike by CN conductors, or train...
Chancellor Angela Merkel believes firmly in strong German-U.S. relations and is simply being honest with the United States when she flags up policy differences with Washington, her spokesman said on Monday. Merkel sent shockwaves through Washington and London by saying on Sunday that Europe must take its fate into its own hands, implying that the United States under President Donald Trump and Britain after its Brexit vote were no longer reliable partners. She made the comments after Trump critic...
“Sell in May and go away” is perhaps the oldest saw on Wall Street, but it appears there’s no shortage of U.S. mutual funds doing exactly that this year. After all, the S&P 500 has delivered a total return, including reinvested dividends, of 10.8 per cent over the last six months, essentially capturing all of the average rolling 12-month total return on the index since 1990, so why not cash in? Indeed, political drama and high valuations are clearly driving some investors t...
I completely missed the Conservative leadership excitement Saturday. I spent all day in a hotel meeting room in Vancouver talking to 25 Canadian journalists about economics. It’s a Fraser Institute initiative built on the belief that if Canadian journalists better understand economics then so, eventually, will their readers, listeners and viewers, and in the long run that will produce better public policy. It’s a leap of faith, admittedly. The Fraser Institute normally sets great sto...
STANDARD & Poor’s is likely to follow its regular ratings review schedule for China, and does not see any basis at this point for an out-of-schedule committee meeting, a senior director at the ratings agency said yesterday. Moody’s Investors Service last week cut its sovereign ratings on China by a notch, putting them on par with those of Fitch Ratings. That put S&P one step above the two agencies, holding an AA- rating with a negative outlook that it has maintained sinc...
Tesla’s self-driving car technology has helped make the company a $54 billion success story. But the system still has flaws, according to a Stanford University robotics researcher, who says it shows a disturbing inability to recognize cyclists. Heather Knight is an expert in human-robot interfaces with a PhD from the Robotics Institute at Carnegie Mellon University, and is doing post-doctoral research in social robotics. She published an essay about Tesla’s self-driving tech on the b...
Peloton, a maker of Internet-connected fitness bikes, is riding high after raising $325 million in new funding this week, valuing the company at $1.25 billion. The newly minted “unicorn,” which was founded by CEO John Foley, sells a $1,995 bike that comes with an attached tablet for streaming spinning and exercise classes live. Customers pay $39 monthly to ride along during an unlimited number of classes. The bike’s sensors collect data like revolutions per minute, speed, and d...
Senator John McCain said Monday that he believes Russian President Vladimir Putin poses a greater threat to the world than ISIS. “I think ISIS can do terrible things. But it’s the Russians who tried to destroy the fundamental of democracy and that is to change the outcome of an American election,” McCain told ABC News Australia. “They just tried to affect the outcome of the French election,” McCain continued. “So I view Vladimir Putin -- who has dismembered Uk...
Messaging app Kik Interactive is the latest and potentially most well-established company to delve into a quirky new form of fundraising — creating its own digital currency. Kik, based in Waterloo, Canada, unveiled plans for an “initial coin offering,” a process by which it sells tokens that can be used to buy services on its platform. The idea is that as more and more people use Kik, the value of those tokens, called “Kin”, will rise in value. Interest in coin offe...
BUENOS AIRES — One of several labor unions at Barrick Gold Corp’s Veladero mine in Argentina have gone on strike, the company said in a statement on Monday, adding that it is meeting with union leaders to reach a “timely” resolution to the situation. A source from the union, who asked not to be named, told Reuters that talks were ongoing. The source declined to say what the complaint was that led to the work stoppage on Sunday. RelatedInvestor lawsuits stack up against Barric...
Raymond James analyst Steven Li downgraded BlackBerry to market perform from outperform given the limited return to target, according to a Monday note to clients. But Li simultaneously increased the target price to US$11 from US $9.50, reflecting in part a larger-than-expected award from a binding arbitration with Qualcomm. This “significant cash boost” of US $940 million, which will be paid on or before Wednesday, will further improve BlackBerry’s balance sheet, he wrote. “We believe Bl...
Sandvine Corp.’s agreement to be acquired by Vector Capital for $3.80 per share may not be the last deal we see for the Waterloo, Ontario-based network solutions provider. For one, the agreement includes a 42-day go-shop period for Sandvine to solicit superior offers. That means another financial buyer could step in. However, a more attractive bid could also come from a strategic buyer. TD Securities analyst Daniel Chan believes that if such a buyer is able to reduce Sandvine’s fiscal 2018 o...
Apple Inc. got an early start in artificial intelligence software with the 2011 introduction of Siri, a tool that lets users operate their smartphones with voice commands. Now the electronics giant is bringing artificial intelligence to chips. Apple is working on a processor devoted specifically to AI-related tasks, according to a person familiar with the matter. The chip, known internally as the Apple Neural Engine, would improve the way the company’s devices handle tasks that would other...
From the May 2017 issue of Financial Post Magazine Walk into any Farm Boy location and it quickly becomes apparent that the Ottawa-based grocery chain has managed to do something very few Canadian retail chains have mastered: create a store shoppers want to visit, not have to visit. The staff seem genuinely friendly (they’re even trained to lead customers to products, not simply point at them). The robust produce assortment is arranged so meticulously it’s as though someone took a level to e...
Toronto homes aren’t that expensive, if you pay in gold. Douglas Porter, chief economist at the Bank of Montreal, mined data showing that when expressed in terms of gold, house prices in Canada’s red-hot real estate market are far from record highs. An average home in Toronto today costs just over 540 ounces of gold, well below the record 655 ounces in 2005, Porter found. Related10 ways your high-priced home can make money for you — without having to move outToronto bidding wa...
Homeland Security Secretary John Kelly said he may ban laptop computers in the cabins of all international flights into and out of the U.S. amid continuing terrorist threats to bring down airplanes, but that a final decision hadn’t been made. “That’s really the thing that they’re obsessed with, the terrorists: the idea of knocking down an airplane in flight, particularly if it’s a U.S. carrier, particularly if it’s full of mostly U.S. folks,” Kelly said ...
Canada’s main stock index was barely higher in morning trade on Monday, helped by boosts for several big banks that reported earnings last week and by a gain for plane and train maker Bombardier Inc. The gains were offset by a string of gold mining stocks that declined even as the price of the precious metal held near a one-month high. Wheaton Precious Metals Corp fell 1.3 per cent to $27.75 and Goldcorp Inc lost 0.8 per cent to $18.32. Bombardier rose 4.0 per cent to $2.34. BMO Capital up...
FinanceFeeds - IG Group Holdings plc (LON:IGG) has agreed the $40 million purchase of Forex news and research website DailyFX.com back in September 2016 and we have not heard much about the service ever since, apart from the recent announcement by Global Brokerage Inc (NASDAQ:GLBR) that it will stop advertising on the website. In reality, the development of DailyFX.com has not stopped. This is demonstrated by IG’s efforts to take the website closer to mobile device owners. The list of IG...
As Memorial Day rolls around again, we pause to remember those who have sacrificed their lives in defense of our nation. My own military career exposed to me to hundreds of leaders and units, operating in a wide variety of situations, including combat, crisis response, and rapid organizational transformation. My personal lessons and observations are innumerable, but a few key ones stand out because they have helped me become a more effective business leader: Keep crises in perspective It's impor...
MONTREAL — The Quebec government is expected to bring in back-to-work legislation today to put an end to a strike by tens of thousands of construction workers. Premier Philippe Couillard said last week that he would set the wheels in motion to legislate an end to the strike if the picket lines didn’t come down by today. An alliance of construction unions broke off negotiations with a group representing construction companies on Sunday. Union representatives said they prefer to wait for b...
ST. JOHN’S, N.L. — Husky Energy says it going ahead with the West White Rose project off Newfoundland and Labrador, with first oil five years away. The company said in a statement today that it will use a fixed wellhead platform tied to the SeaRose floating production, storage and offloading vessel. Husky says first oil is expected in 2022 and could achieve a gross peak production rate of approximately 75,000 barrels per day by 2025. Related'Hard road ahead’: Oil fundamentals impr...
Justin Trudeau really didn’t want to talk about Donald Trump. After three days together at a pair of meetings in Europe, Trudeau spent a press conference bobbing, weaving and ducking questions from reporters about his U.S. counterpart. The barrage of media queries came as the 43rd Group of Seven summit in Sicily ended with the U.S. president as an outlier. The final meeting communique had all leaders except Trump back the Paris climate accord and added new caveats aimed at appeasing the U....
It surprised no one, but disappointed many. Last week, the Organization of Petroleum Exporting Countries (OPEC) agreed to extend the production limits it brought in last November for another nine months; the largest non-OPEC producer, Russia, also signed on for the extension. And what did oil prices do? They dropped five per cent to below US$50 per barrel. Go figure. Clearly, oil traders had hoped for more — as in, deeper cuts to the November production targets. Targets which, by the way, were...
BRITISH AIRWAYS usually relishes the spring bank-holiday weekend, as families take advantage of the extended break to jet off somewhere pleasant. This year's won't end soon enough for the airline. A catastrophic computer failure on May 27th grounded over a thousand flights and caused chaos for flyers.  The incident, which was reportedly related to a power failure rather than a cyber attack, will raise questions about the company's IT system. But for those caught up in the turmoil, it will s...
THE property market in northern China's Beijing-Tianjin-Hebei region stabilized in April after authorities implemented a string of measures to contain price hikes, according to an official survey released Monday. In Beijing and Shijiazhuang, capital of Hebei Province, new residential house prices rose 0.2 percent and 0.1 percent month on month in April respectively, while Tianjin saw a month-on-month decline of 0.1 percent, according to the National Bureau of Statistics.
Good morning. Editor Nicole MacAdam (@nicole_mac1) here. A secretive fine levied against an Ontario vegetable grower highlights the thorny issue of counterfeit veggies, the beloved Beaver Canoe brand is revived again — as a line of pet clothing, and Ontario’s government is girding for a showdown over Texas’s Buy American bill. Have a productive Monday! The growing problem of counterfeit veggies A year ago, Mucci International Marketing Inc., Mucci Pac Ltd. and two executives paid f...
In the feast of financial advice offered by the wealth management industry, robo advisors are the McDonald’s of financial information. Like stock brokers and professional portfolio managers, mutual fund account sales folks and the occupants of back offices at your corner bank, robo advisors suggest what kinds of investments to make. Unlike the traditional advisors, they offer a limited menu of packaged assets, mostly exchange traded funds, usually through web-based accounts. There’s no hand ...
News that lithium explorer Plymouth Minerals (ASX: PLH) had been granted tenure in an area surrounding its San Jose lithium-tin project located in central Spain was well received as the company’s shares jumped nearly 5%. Of course, it should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice. As a backdrop, PLH has partnered with the large Spanish comp...