As the cannabis market awaits a Senate vote on a legalization bill, these companies may not need it to succeed with investors
(Reuters) -A significantly weaker than expected business outlook by memory-chip firm Micron Technology Inc on Thursday raised concern that following nearly two years of strong demand the industry was turning toward a down cycle. Micron forecast adjusted revenue for the current quarter at $7.2 billion, plus or minus $400 million, while Wall Street's outlook was an average of $9.05 billion, according to Refinitiv IBES data. “We believe that demand has weakened considerably and we've seen that even in the areas that have been significantly constrained," Nikolay Todorov, analyst at Longbow Research, said.
As Canada welcomes an unrestricted number of refugees from Ukraine and 40,000 refugees from Afghanistan, today 22 major companies have committed to creating economic opportunities for these newcomers as they restart their lives across the country.
Help is coming for many people with medical debt on their credit reports. Starting Friday, the three major U.S. credit reporting companies will stop counting paid medical debt on the reports that banks, potential landlords and others use to judge creditworthiness. The companies also will start giving people a year to resolve delinquent medical debt that has been sent to collections before reporting it — up from six months previously. Next year, the companies also will stop counting unpaid medica
Shipments to China - the world's biggest smartphone market - are expected to shrink by 18% as demand takes a beating from strict COVID-19 curbs that halted activity in key economic hubs including Shanghai, Gartner said in a report on Thursday. "A perfect storm of geopolitics upheaval, high inflation, currency fluctuations and supply chain disruptions have lowered business and consumer demand for devices across the world, and is set to impact the PC market the hardest in 2022," said Ranjit Atwal, senior director analyst at Gartner.
The former top corporate lawyer at Apple Inc pleaded guilty on Thursday to insider trading charges, for what prosecutors called a five-year scheme to trade ahead of the iPhone maker's quarterly earnings announcements. Gene Levoff, 48, of San Carlos, California, pleaded guilty to six securities fraud charges at a hearing before U.S. District Judge William Martini in Newark, New Jersey. Levoff allegedly exploited his roles as corporate secretary, head of corporate law and co-chair of a committee that reviewed drafts of Apple's results to generate $604,000 of illegal gains on more than $14 million of trades from 2011 to 2016.
CALGARY — The Calgary Stampede has received more than $10 million from the federal government to help it bounce back after last year's event was scaled down due to the COVID-19 pandemic. A report to the city this week showed the Stampede had an operating loss of $8.3 million in 2021. Last year's Stampede ran at half capacity because of COVID-19 public health measures and was cancelled all-together the year before. Daniel Vandal, the federal minister for Prairies Economic Development Canada, says
E-commerce warehouse workers at HBC Logistics have voted overwhelming at 80% to accept a new tentative agreement, ending a nine-day strike action.
Calgary is a globally renowned tourism destination that supports a resilient Alberta economy. In addition to its outstanding urban experiences and attractions, the city is a launching point for domestic and international visitors wanting to explore the southern ranges of Canada's Rocky Mountains, Alberta's Badlands, the Cowboy Trail, and enjoy western hospitality at other southern Alberta attractions. The city is also home to the "Greatest Outdoor Show on Earth", the Calgary Stampede; the famed
Fort Partners Puerto Rico LLC (Fort Partners), led by Founder and CEO Nadim Ashi, today announced the acquisition of the Palazzo Marini (3-4) for €165 million with plans to develop the property into a luxury hotel that will be managed by Four Seasons Hotels and Resorts, the world's leading luxury hospitality company.
WASHINGTON (AP) — The Supreme Court's climate change ruling on Thursday is likely to hinder President Joe Biden's plans to cut greenhouse gas emissions in half by the end of the decade and to make the U.S. a global leader again in the fight to slow global warming. In its decision, the court limited the reach of the nation’s main anti-air pollution law that's used to reduce carbon dioxide emissions from power plants. The 6-3 ruling declared that the Clean Air Act does not give the Environmental P
LONDON (Reuters) -German fashion brand Hugo Boss announced on Thursday it was returning to Formula One with the Aston Martin team, five years after leaving for the electric Formula E series. The deal, announced at the British Grand Prix on Thursday and initially running until 2025, will see Boss branding on the F1 cars with immediate effect and the company providing team apparel from 2023. Hugo Boss Chief executive Daniel Grieder told Reuters the pull of Netflix's "Drive to Survive" docu-series, new rules to make racing more competitive and a push for sustainability were compelling factors.
Are crypto investors in for another prolonged 2017-2019-style bear market? The post Ethereum Briefly Dips Below $1,000: Is a Crypto Winter Incoming? appeared first on The Motley Fool Canada.
OTTAWA — Economic growth slowed in April and Statistics Canada said Thursday its early estimate for May pointed to a contraction for the month amid weakness in the resource, manufacturing and construction sectors. The agency said growth in April was led by the mining, quarrying and oil and gas extraction sector and client-facing industries as real gross domestic product advanced 0.3 per cent for the month compared with a 0.7 per cent gain in March. However, its early estimate for May indicated a
(Reuters) -Delta Air Lines Inc Chief Executive Officer Ed Bastian on Thursday apologized for recent flight cancellations and delays, as U.S. lawmakers raised questions about ongoing industry-wide disruptions. Persistent staffing shortages and booming demand have led to frequent flight cancellations by airlines on both sides of the Atlantic, causing chaos for vacationers as the summer season swings into gear. Delta has canceled over 400 flights since Monday - including 89 on Thursday - according to flight-tracking website Flightaware.com, as severe weather exacerbated staff shortages.
Are you an investor that isn’t scared of a little volatility? Here are three top picks! The post 3 Growth Stocks Worth Buying if You Can Handle Volatility appeared first on The Motley Fool Canada.
(Reuters) -Facebook-owner Meta Platforms Inc has cut plans to hire engineers by at least 30% this year, CEO Mark Zuckerberg told employees on Thursday, as he warned them to brace for a deep economic downturn. "If I had to bet, I'd say that this might be one of the worst downturns that we've seen in recent history," Zuckerberg told workers in a weekly employee Q&A session, audio of which was heard by Reuters. Meta has reduced its target for hiring engineers in 2022 to around 6,000-7,000, down from an initial plan to hire about 10,000 new engineers, Zuckerberg said.
PRAGUE (AP) — The European Union’s executive arm on Friday pledged to draft an emergency plan this month aimed at helping member countries do without Russian energy in the wake of the Kremlin’s war in Ukraine. European Commission President Ursula von der Leyen said the initiative would build on EU moves to ditch Russian coal, oil and natural gas and would complement a bloc-wide push to accelerate the development of renewable energy such as wind and solar power. “We are preparing emergency plans
Chinese tech giants including Tencent Holdings and Ant Group have signed a pact to stop the secondary trading of digital collectibles and "self-regulate" their activities in the market, Chinese state media reported on Thursday. The companies were among 30 firms and institutes that have agreed to the "Digital Collectible Industry Self-Discipline Development Initiative" in which they will help prevent secondary trading and speculation in digital collectibles, according to a report by the Shanghai Securities News. Digital collectibles in the form of non-fungible tokens (NFT) have become widely popular across the globe in recent years, in large part thanks to an active if not highly speculative secondary market.
The second half of the year started with gains in global stock indexes on Friday ahead of the long U.S. holiday weekend, while the 10-year Treasury yield fell the most since COVID-19 hit markets in March 2020. Stocks were lower early in the New York session but rallied late to end higher. "It's a Friday before a long weekend, so market movements can be somewhat exaggerated," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce the latest assay results from the Company's ongoing drill program (the "Drill Program") at its 100%-owned Georgia Lake lithium project in the Thunder Bay Mining District of Ontario (the "Georgia Lake Project").
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