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How TV networks are adapting to millennials’ phone-first viewing habits + MORE Jul 27th
Correspondents Savannah Sellers and Gadi Schwartz, hosts of the new NBC News Snapchat show “Stay Tuned.” (NBC News)
Television networks are directing hundreds of millions of investment dollars into ventures that play by the new rules of social media. The old approach—trying to engage.... More »
Ontario deficit down to $1.9 billion; higher revenue, use of reserve + MORE Feb 22nd
Ontario’s deficit for this fiscal year is down to $1.9 billion, due in part to higher tax revenues, a hot housing market and the use of the province’s reserve.
The government had projected $4.3 billion in last year’s budget, and the lower deficit puts the government closer to prese.... More »
What is the price of gold in Canada? And more about gold investing Apr 10th
Amidst the gyrations of mega-cap technology stocks and cryptocurrencies over the past year, a stodgy old standby has notched a number of new highs. Gold almost hit USD$3,200 per ounce in early April. It is up 27% over the last 12 months in U.S. dollars and more in Canadian dollars.
That, together.... More »
Oil giant Saudi Aramco makes a historic $161B profit in 2022 - Business News - Castanet.net Mar 12th
Oil giant Saudi Aramco makes a historic $161B profit in 2022 - Business News Castanet.netSaudi Aramco Posts Blowout Annual Profit and Raises Dividend BNN BloombergSaudi oil giant Aramco posts record $161 billion profit for 2022 CNBCSaudi Aramco’ s $161bn profit is .... More »
How financially viable is your rental property? + MORE Apr 13th
After rising steadily in many cities across Canada for many years, real estate has been on a particular tear over the past year—and rental property investing has become an area of interest for plenty of people as a result.
But a soaring market isn’t a guarantee of success. If you’re thinking.... More »
Lululemon CEO Laurent Potdevin on building a mindful business
– canadianbusiness.com
Lululemon Athletica CEO Laurent Potdevin in his Vancouver office. (Portrait by Jens Kristian Balle)A former president of Burton Snowboards and Toms Shoes, Laurent Potdevin joined Lululemon Athletica in January 2014 with a mission to put product quality and image stumbles behind the clothing retailer. Today, one can only conclude he has succeeded: Sales should surpass US$2 billion this year, aided by overseas expansion and a healthy 4% growth in comparable store sales, and the stock is once again testing its all-time highs. Born in Switzerland, Potdevin holds both an MBA and a master’s degree in engineering.
This year you returned Lululemon to the growth trajectory it enjoyed until 2013. Sales were up 14% year-over-year in the latest quarter, and profit grew even more. Where will the brand’s growth come from going forward?
.cbR{box-sizing:border-box;display:block;width:100%;margin:1em 0;border:1px solid #bbb;padding:.5em}@media (min-width:480px){.cbR{width:250px;margin:0 0 1em 1em;float:right}}Jim Balsillie on how Canada is doing innovation wrong-and how to fix it
The trend of living a lifestyle that is athletic and mindful is something that is global, that’s across gender—it’s actually across generations…
American consumers would be hurt by lumber duties, say U.S. housing groups
– canadianbusiness.com
MONTREAL – The imposition of import tariffs on Canadian softwood lumber will place a heavy burden on consumers and U.S. workers, a leading American voice for free trade with Canada says.
The U.S. National Association of Home Builders says duties or volume caps on imported lumber will raise the price of lumber, adding more than $1,300 to the cost of a new single family home.
It also forecasts higher lumber prices will result in a net loss of almost 8,000 jobs if 25 per cent of duties are imposed on Canadian lumber flowing into the U.S. About US$450 million in wages would be lost along with US$320 million in government taxes.
The impact would mainly be felt by the construction industry, but also hit other sectors including mattress firms that use Canadian lumber in bed frames, transportation, finance, insurance and real estate.
Increased lumber prices along with higher interest rates would make new homes less affordable for average consumers. The association, which this year formed the American Alliance of Lumber Consumers, claims that about 153,000 households would no longer qualify for average mortgages with every US$1,000 increase the home prices…
The U.S. National Association of Home Builders says duties or volume caps on imported lumber will raise the price of lumber, adding more than $1,300 to the cost of a new single family home.
It also forecasts higher lumber prices will result in a net loss of almost 8,000 jobs if 25 per cent of duties are imposed on Canadian lumber flowing into the U.S. About US$450 million in wages would be lost along with US$320 million in government taxes.
The impact would mainly be felt by the construction industry, but also hit other sectors including mattress firms that use Canadian lumber in bed frames, transportation, finance, insurance and real estate.
Increased lumber prices along with higher interest rates would make new homes less affordable for average consumers. The association, which this year formed the American Alliance of Lumber Consumers, claims that about 153,000 households would no longer qualify for average mortgages with every US$1,000 increase the home prices…
China appeals to US to stop disrupting acquisitions
– canadianbusiness.com
BEIJING, China – China urged Washington on Monday to stop disrupting its foreign corporate acquisitions after President Barack Obama blocked the purchase of a German maker of semiconductor manufacturing equipment as a security risk.
The proposed acquisition of Aixtron SE by China’s Fujian Grand Chip was “pure market behaviour,” said a foreign ministry spokesman, Lu Kang.
On Friday, Obama ordered Fujian Grand Chip to drop its attempt to take over Aixtron’s California subsidiary. The government said Aixtron’s technology has “military applications.”
“We hope that the United States will cease making groundless accusations about Chinese companies and will provide a fair environment and favourable conditions for investment by them,” said Lu at a regular briefing. “I think this matter will in the long run be in the interests of all the parties concerned.”
It was the third time in three decades that a U.S. president has blocked an acquisition by a Chinese company on security grounds…
The proposed acquisition of Aixtron SE by China’s Fujian Grand Chip was “pure market behaviour,” said a foreign ministry spokesman, Lu Kang.
On Friday, Obama ordered Fujian Grand Chip to drop its attempt to take over Aixtron’s California subsidiary. The government said Aixtron’s technology has “military applications.”
“We hope that the United States will cease making groundless accusations about Chinese companies and will provide a fair environment and favourable conditions for investment by them,” said Lu at a regular briefing. “I think this matter will in the long run be in the interests of all the parties concerned.”
It was the third time in three decades that a U.S. president has blocked an acquisition by a Chinese company on security grounds…
Trump taps former campaign rival Carson as housing secretary
– canadianbusiness.com
WASHINGTON – President-elect Donald Trump, moving to complete formation of his Cabinet and decide other key administration posts, chose former campaign rival Ben Carson on Monday to be secretary of the Department of Housing and Urban Development.
Trump’s decision, announced by his transition office, comes as the real estate mogul continues a series of interviews, meetings with aides and other deliberations aimed at forming his administration and following his announcement of several Cabinent appointees last week.
In a statement, Trump said he was “thrilled to nominate” Carson, describing the retired neurosurgeon as having “a brilliant mind” and saying he “is passionate about strengthening communities and families within those communities.”
Carson had been coy about joining the new administration, saying shortly after Trump’s election victory that he wasn’t certain he’d fit into a Cabinet-style role. The discussion at that time centred on speculation that Carson might be selected to head the sprawling Department of Health and Human Services…
Trump’s decision, announced by his transition office, comes as the real estate mogul continues a series of interviews, meetings with aides and other deliberations aimed at forming his administration and following his announcement of several Cabinent appointees last week.
In a statement, Trump said he was “thrilled to nominate” Carson, describing the retired neurosurgeon as having “a brilliant mind” and saying he “is passionate about strengthening communities and families within those communities.”
Carson had been coy about joining the new administration, saying shortly after Trump’s election victory that he wasn’t certain he’d fit into a Cabinet-style role. The discussion at that time centred on speculation that Carson might be selected to head the sprawling Department of Health and Human Services…
