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Deficit soars to $78.3 billion as Carney budget bets big on 'investment' spending while slashing public service Nov 5th
Carney’s minority government stakes its survival on the plan that books more than $141 billion in new federal spending over the next five years..... More »
Investors say 'fake' experts on local radio shows conned them out of millions Feb 17th
Dozens of Ontario investors say they were conned out of millions of dollars after fraudsters using fake names were featured as investment "experts" on their favourite radio stations — on shows listeners say sounded like news but were actually infomercials..... More »
Creating your will: a guide for couples Nov 4th
From deciding whether your prickly sister-in-law should be the executor, to how much money you should leave to your spendthrift nephew, estate planning is fraught with emotional hiccups—especially when you’re strategizing for two.
As many couples know, big feelings often get in the way when it c.... More »
Canada’s economy news: Are we growing enough? + MORE Oct 31st
The Canadian economy was flat in August as high interest rates continued to weigh on consumers and businesses, while a preliminary estimate suggests it grew at an annualized rate of 1% in the third quarter. Statistics Canada’s gross domestic product report Thursday says growth in services-producin.... More »
CanniMed CEO resigns, Aurora Cannabis SVP takes role in interim + MORE Apr 5th
CanniMed Therapeutics CEO Brent Zettl has resigned, effective immediately, as Aurora Cannabis nears completion of its acquisition of the medical marijuana company.
Zettl, who co-founded CanniMed’s parent company Prairie Plant Systems Inc. in 1988, is pursuing other opportunities, the companies.... More »
Stocks move higher in early trading following more positive earnings surprises; Wal-Mart gains
– canadianbusiness.com
NEW YORK, N.Y. – Stocks are opening higher as traders welcome some more positive corporate earnings news.
Wal-Mart Stores rose 3 per cent, the most in the Standard & Poor’s 500 index, after reporting income and revenue early Thursday that came in ahead of what analysts were expecting.
Media conglomerate Viacom also rose 2 per cent after its own results topped forecasts.
The S&P 500 rose four points, or 0.2 per cent, to 2,043 as of 9:35 a.m. Eastern time.
The Dow Jones industrial average rose 47 points, or 0.3 per cent, to 17,661. The Nasdaq composite rose 12 points, or 0.3 per cent, to 4,687.
Crude oil fell 84 cents to $76.35 a barrel. The price is at a four-year low as supplies rise.
The yield on the 10-year Treasury note held steady at 2.36 per cent.
The post Stocks move higher in early trading following more positive earnings surprises; Wal-Mart gains appeared first on Canadian Business.
Wal-Mart Stores rose 3 per cent, the most in the Standard & Poor’s 500 index, after reporting income and revenue early Thursday that came in ahead of what analysts were expecting.
Media conglomerate Viacom also rose 2 per cent after its own results topped forecasts.
The S&P 500 rose four points, or 0.2 per cent, to 2,043 as of 9:35 a.m. Eastern time.
The Dow Jones industrial average rose 47 points, or 0.3 per cent, to 17,661. The Nasdaq composite rose 12 points, or 0.3 per cent, to 4,687.
Crude oil fell 84 cents to $76.35 a barrel. The price is at a four-year low as supplies rise.
The yield on the 10-year Treasury note held steady at 2.36 per cent.
The post Stocks move higher in early trading following more positive earnings surprises; Wal-Mart gains appeared first on Canadian Business.
CPPIB had $234.4 billion of net assets, earned 3.4 per cent return in Q2
– canadianbusiness.com
TORONTO – The Canada Pension Plan Investment Board said it earned a 3.4 per cent return in its latest quarter.
The board, which manages portfolios on behalf of the Canada Pension Plan, had net assets of $234.4 billion for the period ended Sept. 30.
That was up from $226.8 billion at the end of the previous quarter.
It says the majority of the increase, or $7.5 billion, was due to net investment income.
The remaining $100 million was net CPP contributions.
CPPIB invests money not currently needed by the Canada Pension Plan to pay benefits.
The board says it’s building an investment portfolio with a “exceptionally long investment horizon” and that is a more indicative of its performance than the returns of any given quarter or year.
“We continue to realize the benefits of a globally diversified, resilient portfolio that is designed to deliver superior returns over the long term,”said president and chief executive Mark Wiseman in a statement.
During the quarter, CPPIB closed a deal to acquire a 39 per cent stake in Interparking, one of Europe’s largest parking lot management companies, for about $546 million…
The board, which manages portfolios on behalf of the Canada Pension Plan, had net assets of $234.4 billion for the period ended Sept. 30.
That was up from $226.8 billion at the end of the previous quarter.
It says the majority of the increase, or $7.5 billion, was due to net investment income.
The remaining $100 million was net CPP contributions.
CPPIB invests money not currently needed by the Canada Pension Plan to pay benefits.
The board says it’s building an investment portfolio with a “exceptionally long investment horizon” and that is a more indicative of its performance than the returns of any given quarter or year.
“We continue to realize the benefits of a globally diversified, resilient portfolio that is designed to deliver superior returns over the long term,”said president and chief executive Mark Wiseman in a statement.
During the quarter, CPPIB closed a deal to acquire a 39 per cent stake in Interparking, one of Europe’s largest parking lot management companies, for about $546 million…
TSX flat: traders pore over earnings, eye oil supplies – CTV News
– news.google.ca
CTV NewsTSX flat: traders pore over earnings, eye oil suppliesCTV NewsTORONTO — The Toronto stock market was flat Thursday amid a mixed batch of earnings news and with crude prices at four-year lows ahead of a weekly report on U.S. oil inventories coming out later in the morning. The S&P/TSX composite index dipped 0.02 …TSX futures indicate a higher openReuters CanadaTSX set for higher open: traders pore over earnings, look to oil suppliesTimes ColonistToronto stock market up: traders pore over earnings, look to oil suppliesBrandon SunReutersall 218 news articles »
CGI Group Q3 profit rises but acquisition-related costs continue to be a drag
– canadianbusiness.com
MONTREAL – CGI Group Inc. (TSX:GIB.A) ended its 2014 financial year with a stronger fourth-quarter profit, and the integration of a major European acquisition a year early, although its revenue edged up only slightly and missed analyst estimates by more than $100 million.
The Montreal-based IT services company, which provides computer, communications and software services to public and private-sector organizations around the world, had $213.7 million or 67 cents of net income in the fourth quarter of its 2014 financial year, before adjustments.
Excluding specific items related to acquisition and integration-related costs, the Montreal-based information technology company’s adjusted net income was $234 million or 73 cents per share — in line with estimates.
Revenue was $2.48 billion — up about $25 million from a year earlier but short of the analyst estimate of $2.57 billion — despite getting a boost from the Canadian dollar’s weakness against most local currencies where CGI does business…
The Montreal-based IT services company, which provides computer, communications and software services to public and private-sector organizations around the world, had $213.7 million or 67 cents of net income in the fourth quarter of its 2014 financial year, before adjustments.
Excluding specific items related to acquisition and integration-related costs, the Montreal-based information technology company’s adjusted net income was $234 million or 73 cents per share — in line with estimates.
Revenue was $2.48 billion — up about $25 million from a year earlier but short of the analyst estimate of $2.57 billion — despite getting a boost from the Canadian dollar’s weakness against most local currencies where CGI does business…
Will the drop-off in oil snap the TSX’s winning streak?
– macleans.ca
Top of the morningMichael Batnick of Ritholtz Wealth brings up five things investors should pay attention to amid all the noise. Here are two of them:
2) A single earnings report is not the be-all and end-all, however there are things you can look for that are important. The quality of earnings is crucial to a healthy business. Management has a plethora of tools at their disposal to manipulate earnings so it pays to do a little detective work. Cash flow and accruals don’t lie. You want to see accruals as a percentage of earnings going down, not up…
4) Insider selling is largely meaningless. It’s impossible to know why they’re selling and shares are a big part of executive compensation these days. Big insider buying is a much better indicator of how an executive feels about the price of their companies stock.
On the homefront
All ten sectors were positive on Wednesday as Canada’s benchmark index booked its sixth consecutive gain. Though the near contract for WTI crude fell below $77 per barrel late in the trading day, energy stocks still managed to advance…
