Peloton Soars After Reports of Takeover Interest
Jennifer Ryan and Thyagaraju Adinarayan Mon., February 7, 2022 Peloton Interactive Inc. soared 31% on Monday after reports that it’s exploring takeover options, a move that could test investors who are holding short positions. The New York-based fitness and lifestlye company is working with an adviser after an earlier plunge in Peloton’s shares made it […]
Tech, growth shares shine in Amazon-led rebound after Meta rout
By Julien Ponthus (Reuters) -Growth and technology stocks rebounded on Friday, as traders weighed stellar results from Amazon.com Inc (NASDAQ:AMZN) against an unexpectedly strong U.S. employment number that propelled Treasury yields higher. The Nasdaq Composite index, which is heavy on tech and other growth stocks, was recently jumping about 2% a day after a historic crash in […]
Protest organizers dig in and say only politicians can clear Ottawa’s downtown
Crowds have been shrinking since Saturday, but harassment and disruptions remain CBC News · Posted: Feb 02, 2022 8:46 AM ET Some of the organizers of the protest that’s brought noise, traffic problems and harassment to downtown Ottawa say they have empathy for the city’s residents, but insist there’s no other way to end all COVID-19 public […]
Canada’s GDP rebounded to pre-pandemic level in November 2021
Real GDP grew by 0.6 per cent last November, bringing it 0.2 per cent above its February 2020 level Nojoud Al Mallees · CBC News · Posted: Feb 01, 2022 Canada’s economy grew by 0.6 per cent in November of last year, making it the sixth consecutive month of economic expansion prior to the rapid spread of the Omicron variant […]
BlackBerry to sell legacy patents related to mobile devices, messaging for $600 million
The move comes weeks after BlackBerry pulled the plug on service for its once ubiquitous business smartphones BlackBerry Ltd. said on Monday it will sell its legacy patents primarily related to mobile devices, messaging and wireless networking for US$600 million to a special purpose vehicle formed to acquire the company’s patent assets. BlackBerry said the […]
Goldman, Citi strategists say it’s now time to buy stocks rout
Joanna Ossinger and Farah Elbahrawy, Bloomberg News After a selloff that put global stocks on course for their worst month since the start of the pandemic, strategists from Goldman Sachs Group Inc. to Citigroup Inc. say it’s now time to buy. “Any further significant weakness at the index level should be seen as a buying opportunity, […]
IMF cuts world, Canadian growth in 2022 forecast due to omicron, other woes
The Canadian Press – Jan 25, 2022 The International Monetary Fund is downgrading its forecast for the world economy this year, citing the spread of COVID-19’s omicron variant, higher energy prices, an uptick in inflation and financial strains in China. The 190-country lending agency now forecasts the global economy will expand 4.4 per cent in 2022. […]
Quebec shells out $25 million for business digital transformation
Daniel J. Rowe CTVNewsMontreal.ca Digital Reporter The Quebec government is shelling out almost $25 million for businesses looking to enter the future. Economy and Innovation Minister Pierre Fitzgibbon announced that the CAQ government will release $24.6 million to support eight projects under the Digital Transformation Offensive (OTN). The money is meant to help 2,000 businesses […]
Canada’s inflation rate rises to new 30-year high of 4.8%
Grocery prices increasing at fastest pace in more than a decade Pete Evans · CBC News · Posted: Jan 19, 2022 8:42 AM ET The Consumer Price Index increased at an annual pace of 4.8 per cent in December, as sharply higher prices for food led to the cost of living going up at its fastest rate since 1991. […]
The economy no longer works for many Canadians — and business is largely to blame
One of the most troubling aspects about the failure of our economy is our society’s great income divide. In his new column for the Star, Magna founder Frank Stronach shares ideas on how to fix it. By Frank Stronach Contributing Columnist Tue., Jan. 18, 2022 When something is not right — it might be in your […]