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At midday: Stocks fall as crude oil tumbles + MORE Dec 30th
Gold prices also weigh on TSX
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Toronto area home price index rises 31.7 per cent in April + MORE May 4th
New figures released this morning show that Toronto-area home prices continued to soar by double digits in April but the number of sales was down slightly compared with the same month last year.
The Toronto Real Estate Board says the average price in the area rose to $920,791 and its price index ros.... More »
Bank of Montreal beats estimates with higher quarterly profit, boosts dividend - The Globe and Mail May 28th
Bank of Montreal beats estimates with higher quarterly profit, boosts dividend The Globe and MailView Full Coverage on Google News.... More »
Prominent jazz record producer Larry Rosen, co-founder of GRP label, dies at 75 + MORE Oct 10th
NEW YORK, N.Y. – Larry Rosen, one of the most influential and tech-savvy modern jazz producers who co-founded GRP Records with pianist Dave Grusin, died Friday, his publicist said. He was 75.
Rosen, who had been battling brain cancer, died surrounded by his family at his home in Park Ridge, Ne.... More »
Ferrari hits starting blocks in IPO on Wednesday + MORE Oct 21st
Ferrari NV’s initial public offering makes its debut on the New York Stock Exchange on Wednesday, with owner Fiat Chrysler hoping it will burst out of the starting block..... More »
Survey of investment analysts shows doubts that German economic growth will improve much
– canadianbusiness.com
FRANKFURT – A key poll of investment analysts shows their outlook for the German economy has slipped for the fifth month in a row because of doubts that growth will improve much.
The ZEW indicator of economic sentiment fell to 25.0 points in August from 29.7 points the month before.
Despite the decline, the index remains near its long-term average of 24.9, meaning the outlook is still upbeat for Europe’s biggest economy, which is enjoying low unemployment and respectable growth.
ZEW head Clemens Fuest said Tuesday that while the German economy remains in relatively good shape, “under the current geopolitical and global economic circumstances a substantial improvement” can’t be expected.
The German economy grew 0.3 per cent in the first quarter from the quarter before. Second quarter figures are expected Friday.
The post Survey of investment analysts shows doubts that German economic growth will improve much appeared first on Canadian Business – Your Source For Business News.
The ZEW indicator of economic sentiment fell to 25.0 points in August from 29.7 points the month before.
Despite the decline, the index remains near its long-term average of 24.9, meaning the outlook is still upbeat for Europe’s biggest economy, which is enjoying low unemployment and respectable growth.
ZEW head Clemens Fuest said Tuesday that while the German economy remains in relatively good shape, “under the current geopolitical and global economic circumstances a substantial improvement” can’t be expected.
The German economy grew 0.3 per cent in the first quarter from the quarter before. Second quarter figures are expected Friday.
The post Survey of investment analysts shows doubts that German economic growth will improve much appeared first on Canadian Business – Your Source For Business News.
Reuters CanadaGreece, lenders clinch bailout deal after marathon talksReuters CanadaATHENS (Reuters) – Greece and its international lenders reached an 85 billion-euro bailout agreement on Tuesday after talking through the night, officials said, saving the country from financial ruin and raising hopes it can make a major debt repayment …Greece Says It Has Reached a Deal for a Third BailoutNew York TimesGreek bail-out targets branded 'fantasy' as policymakers strike dealTelegraph.co.ukGreek bailout deal agreed 'in principle'BBC NewsReuters -Financial Times -Economic Timesall 1,110 news articles »
Hong Kong police arrest 5 Uber drivers, search ride-hailing app’s offices
– canadianbusiness.com
HONG KONG – Hong Kong police arrested five Uber drivers and searched the ride-hailing app’s office in the Asian financial centre.
Police said Tuesday that officers posing as customers arrested the five drivers in an operation aimed at combating illegal taxis.
Police said in a statement that the five men were suspected of illegally carrying passengers and driving without insurance.
Police did not name Uber Technologies but local Cable TV news showed officers inside the company’s Hong Kong office and said they took away computers and documents.
It’s the latest headache for the San Francisco-based company as its overseas expansion meets multiple legal and regulatory challenges.
In a statement, Uber said it stands by its drivers “100 per cent.”
The post Hong Kong police arrest 5 Uber drivers, search ride-hailing app’s offices appeared first on Canadian Business – Your Source For Business News.
Police said Tuesday that officers posing as customers arrested the five drivers in an operation aimed at combating illegal taxis.
Police said in a statement that the five men were suspected of illegally carrying passengers and driving without insurance.
Police did not name Uber Technologies but local Cable TV news showed officers inside the company’s Hong Kong office and said they took away computers and documents.
It’s the latest headache for the San Francisco-based company as its overseas expansion meets multiple legal and regulatory challenges.
In a statement, Uber said it stands by its drivers “100 per cent.”
The post Hong Kong police arrest 5 Uber drivers, search ride-hailing app’s offices appeared first on Canadian Business – Your Source For Business News.
Canadian dollar down ahead of North American stock market open
– canadianbusiness.com
TORONTO – The Canadian dollar was down more than one-third of a U.S. cent ahead of trading on North American stock markets.
The loonie traded at 76.53 cents US, down 0.39 from Monday.
The decline came as currencies around the world responded to a move by China’s central bank, which lowered the yuan’s value relative to the U.S. dollar by nearly two per cent to the lowest in nearly three years.
The Dow Jones industrial futures were down 84.0 points at 17,469.0, the Nasdaq futures declined 3.0 points to 4,563.0, and the S&P 500 futures dropped 8.1 points to 2,091.7.
On the commodity markets, the August gold contract rose $6.30 to US$1,110.40 an ounce, the September crude contract was down 72 cents at US$44.24 a barrel and the September contract for natural gas was down three cents at US$2.81.
The S&P/TSX composite index closed Monday at 14,466.39, up 163.69 points.
The post Canadian dollar down ahead of North American stock market open appeared first on Canadian Business – Your Source For Business News.
The loonie traded at 76.53 cents US, down 0.39 from Monday.
The decline came as currencies around the world responded to a move by China’s central bank, which lowered the yuan’s value relative to the U.S. dollar by nearly two per cent to the lowest in nearly three years.
The Dow Jones industrial futures were down 84.0 points at 17,469.0, the Nasdaq futures declined 3.0 points to 4,563.0, and the S&P 500 futures dropped 8.1 points to 2,091.7.
On the commodity markets, the August gold contract rose $6.30 to US$1,110.40 an ounce, the September crude contract was down 72 cents at US$44.24 a barrel and the September contract for natural gas was down three cents at US$2.81.
The S&P/TSX composite index closed Monday at 14,466.39, up 163.69 points.
The post Canadian dollar down ahead of North American stock market open appeared first on Canadian Business – Your Source For Business News.
India’s main opposition Congress party blocks tax reform legislation
– canadianbusiness.com
NEW DELHI – Opposition lawmakers have blocked Prime Minister Narendra Modi’s efforts to simplify India’s taxation laws, a key part of his plans to boost Asia’s third-biggest economy.
Finance Minister Arun Jaitely introduced the legislation Tuesday in the upper house of Parliament with just two days left in Parliament’s current three-week session.
The bill would replace India’s multiple national and state taxes with a single tax regime.
Opposition Congress party lawmakers, whose support is crucial for approving the bill, blocked the proceedings. They instead demanded the resignation of three key ruling party leaders accused of abusing their authority and financial irregularities.
Modi’s Bharatiya Janata Party denies any wrongdoing by them.
Jaitley said tax reform would turn India into a single market with a uniform rate of taxation for both goods and services.
The post India’s main opposition Congress party blocks tax reform legislation appeared first on Canadian Business – Your Source For Business News.
Finance Minister Arun Jaitely introduced the legislation Tuesday in the upper house of Parliament with just two days left in Parliament’s current three-week session.
The bill would replace India’s multiple national and state taxes with a single tax regime.
Opposition Congress party lawmakers, whose support is crucial for approving the bill, blocked the proceedings. They instead demanded the resignation of three key ruling party leaders accused of abusing their authority and financial irregularities.
Modi’s Bharatiya Janata Party denies any wrongdoing by them.
Jaitley said tax reform would turn India into a single market with a uniform rate of taxation for both goods and services.
The post India’s main opposition Congress party blocks tax reform legislation appeared first on Canadian Business – Your Source For Business News.
