Canada's oil sands king believes it can generate the highest long-term value for shareholders by keeping its retail business. The post Whatever You Do, Don’t Sell Suncor Stock appeared first on The Motley Fool Canada.
TORONTO — Canada's main stock index closed down more than 250 points Tuesday in broad losses led by energy and technology over interest rate concerns and a drop in crude prices, while U.S. stock markets were also in the red. Markets in both countries were down by more than one per cent for a second day as data such as job numbers and service sector activity showed continued strength, especially in the U.S., said Colin Cieszynski, chief market strategist at SIA Wealth Management Inc. "Equities ar
Midco® is enhancing the home internet experience by introducing Midco Wi-Fi powered by Plume HomePass®. This next-gen Wi-Fi service is fueled by cloud, artificial intelligence and open-source technology to deliver even faster, smarter, and more reliable Wi-Fi experiences throughout the home.
FLO, a leading North American electric vehicle (EV) charging network operator and smart charging solutions provider, has been selected as the supplier for General Motors' Dealer Community Charging Program. This program will install up to 40,000 public Level 2 EV chargers in local communities across North America. This project is the single largest deployment of EV chargers across North America.
(Reuters) -The United States' first sale of offshore wind development rights off the coast of California attracted more than $400 million in bids on Tuesday from companies seeking a foothold in the domestic industry's expansion to the Pacific Ocean. The auction, which will continue on Wednesday morning, is a major milestone in the Biden administration's push to put wind turbines along every U.S. coastline to help decarbonize the electricity sector and fight climate change. It puts the United States, which has lagged Europe in the development of offshore wind farms, at the forefront of the expansion of floating turbines, an emerging technology needed when ocean depths preclude the use of standard, fixed equipment.
TORONTO — Canada's main stock index closed in slight negative territory Wednesday, reversing the morning rally that came after the Bank of Canada announced plans to hike its key interest rate by half a percentage point. The S&P/TSX composite index was down 16.95 points at 19,973.22. In New York, the Dow Jones industrial average was up 1.58 points at 33,597.92. The S&P 500 index was down 7.34 points at 3,933.92, while the Nasdaq composite was down 56.34 points at 10,958.55. The Canadian dollar tr
Volkswagen's Bentley expects a slight drop in production in 2023 as shutdowns in China have slowed orders, the British luxury carmaker's chief executive said on Wednesday. While its customers are still placing orders, they were not doing so during lockdowns in major cities such as Beijing and Shanghai which account for a large portion of Bentley's orders in China, CEO Adrian Hallmark told reporters. "We're not talking about a massive drop off... we have more than half (of next) year sold out already," Hallmark said at the Bentley headquarters in Crewe, England.
GameStop launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop posted revenue of $1.19 billion in the third quarter, missing estimates of $1.36 billion, according to Refinitiv IBES data.
PORTLAND, Maine (AP) — For years, Mark Hager’s job as an observer aboard New England fishing boats made him a marked man, seen as a meddling cop on the ocean, counting and scrutinizing every cod, haddock and flounder to enforce rules and help set crucial quotas. On one particularly perilous voyage, he spent 12 days at sea and no crew member uttered even a single word to him. Now Hager is working to replace such federally-mandated observers with high-definition cameras affixed to fishing boat mas
Because it is not often 10-year yields suddenly drop 11 basis points, break a chart big barrier and hit three-month lows for no discernible reason. True, the Bank of Canada did manage to be both hawkish and dovish by hiking 50bp but flagging it might be near done tightening. Since the Fed hiked 75bp in November, 10-year yields have fallen 90bps to be 37 basis points under the cash rate, while 10-year fixed mortgage rates have dropped to 6.07% from 6.67%.
WASHINGTON (Reuters) -U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler said that companies that help facilitate transactions in the cryptocurrency market should come into compliance with law. "Their business model right now is offering the public… an interest return in crypto… and then possibly trading against their customers," Gensler told Yahoo Finance in an interview on Tuesday. "The runway is getting shorter" between crypto lenders' compliance and SEC enforcement, the SEC chair added.
WARSAW, Poland (AP) — The former head of Poland's state broadcaster said Wednesday that he now has a job at the World Bank, spurring disbelief in the European Union country where he is known for turning the news channel into a propaganda tool for the right-wing government. Kurski, who has no finance experience, said on Twitter that he has been named an alternate executive director — one of 25 at the 189-country anti-poverty agency — and is giving up “some of (his) political activity and politica
Canada's biggest pension fund, CPP Investments, has ended its effort to study investment opportunities in the volatile crypto market, two people familiar with the matter told Reuters. The reasons behind CPPI's abandonment of crypto research were not immediately clear. CPPI declined to comment but said it has made no direct investments in crypto.
Canada's dollar will rally over the coming year as major commodity consumer China loosens its COVID-19 restrictions and the Federal Reserve potentially concludes its campaign to increase interest rates, a Reuters poll showed. The loonie has weakened over 7% against the U.S. dollar since the start of 2022, with almost all of the decline coming since mid-August. According to the median forecast of 35 currency analysts surveyed Dec. 1-6 the currency will rebound 1.1% to 1.35 per U.S. dollar, or 74.07 U.S. cents, in three months, compared with November's forecast of 1.36.
Back in January, 109 container ships waited off the California coast to unload cargo in Los Angeles and Long Beach, the nation's two largest ports. Consumers, stuck at home amid the pandemic, had unleashed an avalanche of orders for goods that overwhelmed factories and ports. Importers were paying $20,000 to send a single container from China to the United States — sometimes more than the goods inside were worth. Businesses had to backorder everything from bedroom furniture to kitchen fryers, if
Grocer sheltering consumers from manufacturers' price increases, executive says at parliamentary committee on corporate greed and food inflation
NEW DELHI (AP) — The leading hospital in India's capital limped back to normalcy on Wednesday after a cyberattack crippled its operations for nearly two weeks. Online registration of patients resumed Tuesday after the hospital was able to access its server and recover lost data. The hospital worked with federal authorities to restore the system and strengthen its defenses. It's unclear who conducted the Nov. 23 attack on the All India Institute of Medical Sciences or where it originated. Hospita
MOSCOW (Reuters) -Russia's automobile market slump extended into November, the Association of European Businesses (AEB) said on Tuesday, with sales of new cars down 61.6% year-on-year, as the struggling sector feels the strain of sanctions and subdued demand. Sales have dived since Moscow sent tens of thousands of troops into Ukraine in February, with sanctions hindering access to parts and several foreign producers suspending operations in the country. The AEB said 46,403 vehicles were sold during November, compared with more than 120,000 vehicles sold in the same month of 2021.
The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar pushed goods exports to a seven-month low, suggesting that trade could be a drag on economic growth this quarter if the trend persists. The report from the Commerce Department on Tuesday, which followed on the heels of recent upbeat news on the economy ranging from consumer spending, the labor market to the services industry, did not change perceptions that the economy had got off to a solid start in the fourth quarter. "A rewidening in the trade balance will mechanically weigh on GDP growth fourth quarter," said Veronica Clark, an economist at Citigroup in New York.
Today, DoorDash Canada announced the launch of new Partnership Plans to better support restaurant partners nationwide. Beginning today, all Canadian local restaurant owners have the choice of three different plans, with commission rates that vary based on the inclusion of services provided. Additionally, DoorDash is including DoorDash Storefront, an Online Ordering Software, in all partnership plans that enables any restaurant to turn their website into an ecommerce store. The industry-leading P