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Latest News
Trump backs off imposing China investment limits + MORE Jun 27th
President Donald Trump is shifting away from a proposal to impose limits on Chinese investment in American technology companies and high-tech exports to China. Instead, the president is calling on Congress to enhance an existing review process..... More »
Vulnerability of indebted households to hit ‘historic’ levels as rates rise: PBO + MORE Jun 21st
The expected, gradual rise of interest rates over the next few years is poised to push the financial vulnerability of indebted Canadian households well above levels seen over the last three decades, warns a new analysis.
A report released Tuesday by the parliamentary budget officer predicted househo.... More »
How to buy crypto in Canada + MORE Jul 9th
Gone are the days when crypto investing was restricted to just die-hard enthusiasts. Today, you can buy and sell crypto in several modes—including directly or through exchange-traded funds (ETFs)—as easily as you would buy stocks.
Bitcoin is now considered a mainstream asset offered and.... More »
EQ Bank review 2021 + MORE Apr 29th
Table of contents
Who is EQ Bank?
EQ Bank—quick review
How to make deposits and access funds with an online EQ Bank account
What you need to know about the EQ Bank Savings Plus high-interest savings account
GICs at EQ Bank
How EQ Bank’s international money transfers, powered by Wise, work
What.... More »
GM unites car-sharing services under new brand ‘Maven’ + MORE Jan 21st
DETROIT – The final destination is a mystery, but General Motors is taking another step on its fast-moving journey into new ways of getting around.
The company on Thursday announced that it’s formed a brand called “Maven” that will run its car-sharing ventures, including a ne.... More »
Ifo index of German business optimism falls for first time in 4 months
– canadianbusiness.com
FRANKFURT – Germany’s Ifo index of business optimism fell by less than expected in October, as executives’ outlooks for Europe’s largest economy remained relatively strong despite worries about a scandal at Volkswagen and troubles in emerging markets.
The index released Monday declined to 108.2 points from 108.5 the month before, the first decline in four months. That was less than the fall to 107.8 expected by financial-market analysts.
Sentiment proved resilient despite the scandal at major automaker Volkswagen, which has admitted equipping cars with software that enabled them to evade U.S. emissions tests. The company faces heavy fines and the possibility of lost sales.
Analyst Carsten Brzeski at ING-DiBa said German businesses did not seem overly worried about possible headwinds from China and emerging markets as well as from Volkswagen.
“One should not interpret too much in a single confidence indicator but today’s Ifo reading suggests that the German business community is filing the Volkswagen scandal as a one-off and also shrugs off the risk from a possible Chinese and emerging markets slowdown,” Brzeski wrote in a emailed research note…
The index released Monday declined to 108.2 points from 108.5 the month before, the first decline in four months. That was less than the fall to 107.8 expected by financial-market analysts.
Sentiment proved resilient despite the scandal at major automaker Volkswagen, which has admitted equipping cars with software that enabled them to evade U.S. emissions tests. The company faces heavy fines and the possibility of lost sales.
Analyst Carsten Brzeski at ING-DiBa said German businesses did not seem overly worried about possible headwinds from China and emerging markets as well as from Volkswagen.
“One should not interpret too much in a single confidence indicator but today’s Ifo reading suggests that the German business community is filing the Volkswagen scandal as a one-off and also shrugs off the risk from a possible Chinese and emerging markets slowdown,” Brzeski wrote in a emailed research note…
Duke Energy buying Piedmont Natural Gas for about $4.9 billion
– canadianbusiness.com
CHARLOTTE, N.C. – Duke Energy is buying Piedmont Natural Gas for about $4.9 billion in cash.
The companies are key partners in the $5 billion Atlantic Coast Pipeline that will be the first major natural gas pipeline to serve Eastern North Carolina.
Piedmont shareholders will receive $60 in cash for each share of common stock. That’s a 42 per cent premium to Friday’s closing price. Duke Energy Corp. will also assume approximately $1.8 billion in Piedmont debt.
Piedmont Natural Gas Co. will keep its name and maintain its headquarters in Charlotte, North Carolina, and one of its directors will joint Duke’s board.
Both companies unanimously approved the transaction, which is targeted to close by 2016’s end. It still needs approval from Piedmont shareholders and the North Carolina Utilities Commission.
The post Duke Energy buying Piedmont Natural Gas for about $4.9 billion appeared first on Canadian Business – Your Source For Business News.
The companies are key partners in the $5 billion Atlantic Coast Pipeline that will be the first major natural gas pipeline to serve Eastern North Carolina.
Piedmont shareholders will receive $60 in cash for each share of common stock. That’s a 42 per cent premium to Friday’s closing price. Duke Energy Corp. will also assume approximately $1.8 billion in Piedmont debt.
Piedmont Natural Gas Co. will keep its name and maintain its headquarters in Charlotte, North Carolina, and one of its directors will joint Duke’s board.
Both companies unanimously approved the transaction, which is targeted to close by 2016’s end. It still needs approval from Piedmont shareholders and the North Carolina Utilities Commission.
The post Duke Energy buying Piedmont Natural Gas for about $4.9 billion appeared first on Canadian Business – Your Source For Business News.
Trudeau win could send influx of foreign investment into Canadian cannabis space
– canadianbusiness.com
TORONTO – Friendlier laws on medical marijuana use in Canada are already drawing American investment north or the border, and the trend is likely to further ignite if the federal Liberals make good on their promise to allow recreational use of the drug.
Poseidon Asset Management, a San Francisco-based hedge fund focused squarely on the cannabis space, says it is considering boosting its Canadian holdings following Justin Trudeau’s election win.
“We have one core holding up there currently but we would love to expand that,” says Morgan Paxhia, the hedge fund’s founding partner and chief investor.
South of the border, Poseidon invests only in businesses that are “one step away from touching the leaf,” such as producers of cooling systems used in marijuana production facilities or vaporizer technology.
That’s because despite the fact that a number of states — including Oregon, Colorado and Washington — have legalized the recreational use of marijuana, U…
Poseidon Asset Management, a San Francisco-based hedge fund focused squarely on the cannabis space, says it is considering boosting its Canadian holdings following Justin Trudeau’s election win.
“We have one core holding up there currently but we would love to expand that,” says Morgan Paxhia, the hedge fund’s founding partner and chief investor.
South of the border, Poseidon invests only in businesses that are “one step away from touching the leaf,” such as producers of cooling systems used in marijuana production facilities or vaporizer technology.
That’s because despite the fact that a number of states — including Oregon, Colorado and Washington — have legalized the recreational use of marijuana, U…
Valeant hosts analyst call in bid to extinguish concerns about drugmaker
– canadianbusiness.com
MONTREAL – Valeant Pharmaceuticals will attempt this morning to extinguish concerns ignited by a short-seller’s report that compares Canada’s largest drug company to bankrupt energy giant Enron.
The Montreal area company says several top executives will address and refute allegations that the company created a “phantom” network of pharmacies to distribute its products and avoid the scrutiny of auditors.
The unproven allegations by Citron Research caused Valeant’s (TSX:VRX) shares to plummet, wiping out more than $28 billion in shareholder value.
The conference call with analysts is the second in a week. During the first session, Valeant disclosed for the first time its association with specialty pharma companies Philidor and R&O Pharmacy that were subject of reports by the New York Times and the Southern Investigative Reporting Foundation.
Valeant has called Citron’s allegations “erroneous” and an attempt to manipulate the market to drive down Valeant’s stock price…
The Montreal area company says several top executives will address and refute allegations that the company created a “phantom” network of pharmacies to distribute its products and avoid the scrutiny of auditors.
The unproven allegations by Citron Research caused Valeant’s (TSX:VRX) shares to plummet, wiping out more than $28 billion in shareholder value.
The conference call with analysts is the second in a week. During the first session, Valeant disclosed for the first time its association with specialty pharma companies Philidor and R&O Pharmacy that were subject of reports by the New York Times and the Southern Investigative Reporting Foundation.
Valeant has called Citron’s allegations “erroneous” and an attempt to manipulate the market to drive down Valeant’s stock price…
Philips: Sales and profits up in 3rd quarter, delay in sale of LED lighting division stake
– canadianbusiness.com
AMSTERDAM – Lighting and healthcare giant Royal Philips NV said Monday its third-quarter net profit soared to 324 million euros ($357 million) from a loss of 103 million euros in the same quarter last year, when it took a 366 million-euro charge after losing a patent lawsuit.
Sales rose to 5.84 billion euros from 5.2 billion.
Chief Executive Officer Frans van Houten said the results confirmed that “our operational performance continues to strengthen despite deteriorating macroeconomic conditions in a number of markets, most notably in China.”
Philips also announced that it has hit a hitch in the sale of an 80.1-per cent stake in its LED components and automotive lighting division to a consortium led by investment fund GO Scale Capital.
The deal, worth up to $2.9 billion, was expected to be completed in the third quarter, but Philips says that the Committee on Foreign Investment in the United States has “expressed certain unforeseen concerns” about the sale…
Sales rose to 5.84 billion euros from 5.2 billion.
Chief Executive Officer Frans van Houten said the results confirmed that “our operational performance continues to strengthen despite deteriorating macroeconomic conditions in a number of markets, most notably in China.”
Philips also announced that it has hit a hitch in the sale of an 80.1-per cent stake in its LED components and automotive lighting division to a consortium led by investment fund GO Scale Capital.
The deal, worth up to $2.9 billion, was expected to be completed in the third quarter, but Philips says that the Committee on Foreign Investment in the United States has “expressed certain unforeseen concerns” about the sale…
