Category Archives: Financial News

Financial News

Canadian retail rebounds on Toronto Raptors’ unprecedented championship run

Canadian retail rebounds on Toronto Raptors’ unprecedented championship run

Canadians hunting for Raptor gear to celebrate their team’s resounding victory in The National Basketball Association finals helped perk up retail sales in an otherwise lacklustre June, according to Statistics Canada. “Clothing and clothing accessories stores (+4.2 per cent) and sporting goods, hobby, book and music stores (+3.7 per cent) recorded increases in June,” Statistics…

Amazon locks in capacity in Canada with strategic Cargojet deal

Amazon locks in capacity in Canada with strategic Cargojet deal

A $600-million partnership between Cargojet Inc. and Amazon.com Inc. will give the online retailer the option to purchase nearly 15 per cent of the Mississauga-based air cargo carrier over the next seven and a half years. The deal sent Cargojet’s stock soaring by more than 20 per cent Friday morning before falling back a bit,…

Trump orders American companies to stop manufacturing in China, suggests Powell is an ‘enemy’

Trump orders American companies to stop manufacturing in China, suggests Powell is an ‘enemy’

President Donald Trump said he’ll announce his response to the latest round of Chinese tariffs Friday afternoon, firing off a series of tweets that blasted the country and signalled mounting frustration with the direction of trade negotiations. “I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States,”…

Transat shareholders approve sale to Air Canada

Transat shareholders approve sale to Air Canada

Over to you, Ottawa and Brussels. Transat A.T. Inc. shareholders resoundingly approved Air Canada’s $720-million acquisition of the Montreal-based tour and airline operator, putting the fate of the deal in the hands of regulators. Almost 95 per cent of shareholders voted in favour of Air Canada’s improved $18-a-share cash offer at a special meeting in…

CIBC profit beats despite higher provisioning for losses in troubled natural gas sector

CIBC profit beats despite higher provisioning for losses in troubled natural gas sector

One of Canada’s biggest banks said Thursday that third-quarter profit rose, but that an energy sector beset by low natural gas prices forced it to set aside more money for potential loan losses. Canadian Imperial Bank of Commerce reported net income of nearly $1.4 billion for the three months ended July 31, up two per…

The tech-stock boom has well and truly arrived in Canada’s market

The tech-stock boom has well and truly arrived in Canada’s market

It makes up almost 6 per cent of Canada’s stock market and is the best-performing sector this year. That’s right: technology stocks have climbed a massive 59 per cent in 2019 — more than double the next-best industry group on the S&P/TSX Composite Index. In fact, tech’s share of the benchmark index has grown at…

How to use your TFSA to make money instead of as just a place to park cash

How to use your TFSA to make money instead of as just a place to park cash

The Tax Free Savings Account is now 10 years old and a recent study by the Royal Bank of Canada shows that for the first time, more Canadians have TFSAs versus RRSPs. Stuart Gray, director financial planning at RBC, speaks with the Financial Post’s Larysa Harapyn about the differences between TFSAs and RRSPs and explains…

Dividend stocks are being touted as a substitute for bonds, but the reality is much more complicated

Dividend stocks are being touted as a substitute for bonds, but the reality is much more complicated

Last week on Bloomberg TV, I heard a strategist from Credit Suisse excitedly pronounce that investors are going to shift from bonds to stocks because the dividend yield on the S&P 500 is now above the U.S. Treasury bond yield. He went on to point out that not only is S&P’s income higher, but dividends…

Fixed-income still drives Teachers’, while future bets look to tech

Fixed-income still drives Teachers’, while future bets look to tech

The Ontario Teachers’ Pension Plan Board is increasingly focusing on future bets such as investments in Elon Musk’s Space-X and Verily Life Sciences, a healthcare tech and data company under the umbrella of Google parent Alphabet Inc. But returns for the Teachers’ fund continue to be driven by good old-fashioned bonds. The pension plan’s total…

Son of Aphria co-founder, company linked to unlicensed dispensary site among Ontario cannabis lottery winners

Son of Aphria co-founder, company linked to unlicensed dispensary site among Ontario cannabis lottery winners

The son of one of Aphria Inc.’s co-founders and a corporation registered to the address of unlicensed cannabis store Cannabis and Fine Edibles (CAFE) are some of the winners of Ontario’s second cannabis lottery, which named 42 applicants who will now be eligible to apply for a licence to operate a cannabis store in the…