Daily News

Source: BNN Bloomberg August 04, 2023

Open Text Corp. reports net loss in fourth quarter, launches AI strategy

Open Text Corp. reported a net loss of US$48.7 million in its fourth quarter, down from earnings of US$102.2 million during the same quarter last year.  Revenues for the quarter ended June 30 were US$1.5 billion, up from US$902.5 million last year.  The...

Source: Financialpost August 04, 2023

Tourmaline Oil joins proposed Pacific LNG terminal in major boost to project

Canada's largest natural gas producer A proposed liquefied natural gas export terminal on Canada’s Pacific Coast is getting a major boost as Tourmaline Oil Corp. — the country’s largest natural gas producer — agreed to join the project....

Source: Financialpost August 04, 2023

Posthaste: 'Greedflation' not to blame for rising prices, Bank of Canada research says

Costs, not rising margins, the real inflation culprit, study says We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: 'Greedflation' n...

Source: Financialpost August 04, 2023

First home savings account getting 'phenomenal' uptake since April launch: RBC

Both RBC and National Bank say demand for new tax-free savings vehicle has exceeded expectations There’s been a lot of interest in opening a first home savings account (FHSA) among Canadians since the federal government introduced the registere...

Source: Financialpost August 04, 2023

The CRA has clarified the rules for its new home renovation tax credit: What you need to know

Jamie Golombek: Main home and secondary unit for a relative can be built at same time and still qualify for $7,500 credit Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commissio...

Source: BNN Bloomberg August 03, 2023

TSX recap: Index finishes 1.53% lower amid broad-based losses

Canada's main stock index fell more than 300 points Wednesday amid a broad-based decline, while U.S. markets also slid.  Fitch Ratings cut the U.S. government’s credit rating from AAA to AA+ and that news was the focus for Wednesday, said Anish Chopra, man...

Market Call Source: BNN Bloomberg August 03, 2023

Robert Gill's Top Picks: August 2, 2023

Robert Gill, senior vice president and portfolio manager, Goodreid Investment Counsel FOCUS: Canadian large caps MARKET OUTLOOK: Right now is a great time to buy Canadian equities. The S&P/TSX Composite Index is offering some very attractive opport...

Source: BNN Bloomberg August 03, 2023

Shopify saw $1.3B loss in Q2 as it laid off staff, sold logistics business

Shopify Inc. says it recorded a US$1.3 billion loss in its most recent quarter as the company laid off 20 per cent of staff and sold its logistics business. The Ottawa-based e-commerce company says the net loss in its second quarter compared with a net los...

Company News Source: BNN Bloomberg August 03, 2023

Nutrien reports earnings down in second quarter, lowers full-year guidance

Nutrien Ltd. reported second-quarter net earnings of US$448 million, down from US$3.6 billion a year earlier. The Saskatoon-based company says sales were US$11.7 billion, down from US$14.5 billion during the same quarter last year. Diluted net earnings...

Source: BNN Bloomberg August 03, 2023

S&P 500 has worst day since April after big rally

The stock market sold off as hot jobs data and a ramp-up in Treasury issuance just a day after a U.S. credit downgrade caused traders to retreat following a US$6.5 trillion rally. Equities fell across the board, with the S&P 500 notching its worst day sinc...