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PM hopes to attract billions in private capital for infrastructure projects + MORE Nov 14th
TORONTO – Justin Trudeau and nine members of his cabinet are in Toronto today to meet with some of the world’s most powerful institutional investors with trillions of dollars at their disposal.
The prime minister is hoping to persuade some two dozen representatives of large international.... More »
TD tops estimates with rising rates lifting income from lending - BNN Bloomberg Dec 1st
TD tops estimates with rising rates lifting income from lending BNN BloombergCIBC profit falls 18% on higher costs, loan-loss provisions; hikes dividend The Globe and MailBank of Montreal 4Q Profit Rises, Adjusted. Earnings Miss MorningstarCIBC reports Q4 down from y.... More »
Did you manage to resist selling your stocks during the crash? Good. But now might be the time to do it Jun 23rd
The uncertainty over how the pandemic will play out and what the path to economic recovery will look like begs the question: What should you do with your investment portfolio now?.... More »
China’s stock market benchmark falls 5 per cent after announcement brokers under investigation + MORE Nov 27th
BEIJING, China – China’s stock market benchmark falls 5 per cent after announcement brokers under investigation.
The post China’s stock market benchmark falls 5 per cent after announcement brokers under investigation appeared first on Canadian Business - Your Source For Business Ne.... More »
What are the risks of trading crypto? + MORE Apr 20th
Thinking about getting into crypto? Bitcoin, ethereum and their multitude of smaller competitors have created a new world of investment opportunities. No doubt, the crypto economy is exciting, but proceed with caution. Cryptocurrencies are still considered highly speculative, and not only because of.... More »
Trudeau government insists on ‘sustainable’ resource development as oil industry reels from financial losses
– theglobeandmail.com
Ahead of the Paris climate summit, the Liberal government is insisting Canada’s resource development can be made ‘sustainable’ through investment in innovative technology, even as the oil industry is reeling from financial losses that will sap its ability to invest in cleaner, less-carbon-intensive processes
Jurors recess for the day without reaching verdict in trial of ex-coal CEO Blankenship
– canadianbusiness.com
CHARLESTON, W.Va. – Jurors have recessed after their first full day of deliberations without reaching a verdict in the trial of ex-Massey Energy CEO Don Blankenship.
They began deliberating for about an hour Tuesday and deliberated for a full day Wednesday.
Blankenship is charged with conspiring to break safety laws and defrauding mine regulators at West Virginia’s Upper Big Branch Mine, and lying to financial regulators and investors about safety. The mine exploded in 2010, killing 29 men.
Prosecutors contended that Blankenship was a micromanager who meddled in the smallest details at the mine, and cared more about money than safety.
Blankenship’s defence team said the government offered no evidence he was involved in a conspiracy.
Blankenship’s trial began Oct. 1. The jury returns to continue deliberating Thursday morning.
The post Jurors recess for the day without reaching verdict in trial of ex-coal CEO Blankenship appeared first on Canadian Business – Your Source For Business News.
They began deliberating for about an hour Tuesday and deliberated for a full day Wednesday.
Blankenship is charged with conspiring to break safety laws and defrauding mine regulators at West Virginia’s Upper Big Branch Mine, and lying to financial regulators and investors about safety. The mine exploded in 2010, killing 29 men.
Prosecutors contended that Blankenship was a micromanager who meddled in the smallest details at the mine, and cared more about money than safety.
Blankenship’s defence team said the government offered no evidence he was involved in a conspiracy.
Blankenship’s trial began Oct. 1. The jury returns to continue deliberating Thursday morning.
The post Jurors recess for the day without reaching verdict in trial of ex-coal CEO Blankenship appeared first on Canadian Business – Your Source For Business News.
Teck enduring worst financial squeeze since the recession
– theglobeandmail.com
The Vancouver-based miner is cutting 1,000 jobs and lowering its semi-annual dividend
Square prices IPO at $9 per share, 42 per cent below value fetched in fundraising last year
– canadianbusiness.com
SAN FRANCISCO – Mobile payments processor Square had to sell its stock at a deep discount to complete its initial public offering, a concession signalling that investors are becoming wary of once-hot startups that haven’t proven they can make money.
The IPO priced at $9 per share late Wednesday, according to published reports, below a target of $11 to $13 that Square set last week. The price is 42 per cent below the $15.46-per-share price that Square fetched a year ago when it raised $180 million while it was still a privately held company.
Square, known for its small, white readers that plug into smartphones and tablets, now has a market value of about $3 billion compared to the $5 billion value implied in its fundraising a year ago.
The steep markdown could foreshadow trouble ahead for venture capitalists and other investors who have been pouring billions of dollars into technology startups in recent years.
The IPO discount also leaves Square with less money to draw upon as it strives to turn a profit for the first time in its six-year history…
The IPO priced at $9 per share late Wednesday, according to published reports, below a target of $11 to $13 that Square set last week. The price is 42 per cent below the $15.46-per-share price that Square fetched a year ago when it raised $180 million while it was still a privately held company.
Square, known for its small, white readers that plug into smartphones and tablets, now has a market value of about $3 billion compared to the $5 billion value implied in its fundraising a year ago.
The steep markdown could foreshadow trouble ahead for venture capitalists and other investors who have been pouring billions of dollars into technology startups in recent years.
The IPO discount also leaves Square with less money to draw upon as it strives to turn a profit for the first time in its six-year history…
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (13,399.97, up 119.58 points):
Telesta Therapeutics Inc. (TSX:TST). Health-care. Down 39.5 cents, or 50 per cent, to 39.5 cents on 15.1 million shares.
GeneNews Ltd. (TSX:GEN). Health-care. Down half-a-cent, or 25 per cent, to 1.5 cents on 7.5 million shares.
Suncor Energy Inc. (TSX:SU). Oil and gas. Down $1.09, or 2.83 per cent, to $37.48 on 6.7 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up four cents, or 3.23 per cent, to $1.28 on 4.9 million shares.
Whitecap Resources Inc. (TSX:WCP). Oil and gas. Up 48 cents, or 4.21 per cent, to $11.87 on 4.9 million shares.
Teck Resources Ltd. (TSX:TCK.B). Miner. Up six cents, or 0.96 per cent, to $6.29 on 4.8 million shares. Teck is cutting 1,000 jobs around the world through a combination of layoffs and attrition as part of a plan to reduce spending next year by $650 million. The Vancouver-based company said the cuts will include senior management and brings total workforce reductions over the last 18 months to about 2,000…
Toronto Stock Exchange (13,399.97, up 119.58 points):
Telesta Therapeutics Inc. (TSX:TST). Health-care. Down 39.5 cents, or 50 per cent, to 39.5 cents on 15.1 million shares.
GeneNews Ltd. (TSX:GEN). Health-care. Down half-a-cent, or 25 per cent, to 1.5 cents on 7.5 million shares.
Suncor Energy Inc. (TSX:SU). Oil and gas. Down $1.09, or 2.83 per cent, to $37.48 on 6.7 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up four cents, or 3.23 per cent, to $1.28 on 4.9 million shares.
Whitecap Resources Inc. (TSX:WCP). Oil and gas. Up 48 cents, or 4.21 per cent, to $11.87 on 4.9 million shares.
Teck Resources Ltd. (TSX:TCK.B). Miner. Up six cents, or 0.96 per cent, to $6.29 on 4.8 million shares. Teck is cutting 1,000 jobs around the world through a combination of layoffs and attrition as part of a plan to reduce spending next year by $650 million. The Vancouver-based company said the cuts will include senior management and brings total workforce reductions over the last 18 months to about 2,000…
