Rory Johnston, founder of Commodity Context, talks with Financial Post’s Larysa Harapyn about what’s driving oil prices. He says oil at $100 a barrel is “definitely possible” and provides his forecast for crude prices.
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Canadians frustrated with rising groceries prices have pledged to boycott Loblaw-owned stores for the month of May. On the same day it was set to begin, Canada's largest grocer reported a nearly 10 per cent increase in profits.
"Their frustration is understandable, but this kind of expectation betrays a misunderstanding of what's actually driving food prices higher in this country."
The problem is more psychological than financial.
CEO Per Bank says recent efforts by Loblaw teams "working closely" with a government committee had given him a "new perspective" on the code.
STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.
NEW YORK (Reuters) -Oil prices settled on Thursday near their lowest level in seven-weeks, narrowly mixed and under pressure from weaker global demand, rising inventories and fading hopes for a quick cut in U.S. interest rates. U.S. West Texas Intermediate crude futures fell 5 cents to settle at $78.95 a barrel, the lowest since March 12. Both benchmarks closed below their 200-day moving average, which is the key technical indicator of a bear market shift in crude oil prices, StoneX oil analyst Alex Hodes said.
CALGARY — Canadian Natural Resources Ltd. said it believes the output of its Horizon oilsands mine could be increased by 195,000 barrels per day of synthetic crude oil, a 76 per cent hike from the mine's current capacity of approximately 255,000 barrels per day. The company, which is Canada's largest oil and gas producer by market capitalization, said the potential increase is a "long-term" opportunity that would depend on a number of conditions including government support for carbon capture an
Retirement can seem like a faraway goal until all of a sudden, it's not. When you only have a few years left until you retire, the financial decisions you make take on a new importance. Once you're inside the five-year window, that's a good time to review your plan to make sure you're on track. […] The post How to Master the Last 5 Years Before Retirement appeared first on SmartReads CMS - SmartAsset.
In the wake of the new $20 minimum wage for industry workers, quick-service restaurants in California are accelerating and expanding their use of technology.
Citizens' Services Minister Terry Beech says 1,200 seniors have already visited a dentist and had their claims processed by the federal government's new dental care plan. He says one million seniors received their benefits card and are eligible to make claims under the program. (May 1, 2024)
The CEO of Canadian miner Hudbay Minerals said BHP Group's $39 billion offer for Anglo American has increased the valuation of copper assets and could underscore companies' willingness to pay a premium to buy existing copper mines. Hudbay expects to launch a formal sale process for a minority stake in its Arizona Copper World project in the United States later this year after already holding talks with companies. BHP offered to buy Anglo last week, though Anglo rejected the proposal that would create the world's biggest copper miner, saying it undervalues the company.
While Yu becomes chairman, He Gang, the consumer business group's chief operating officer, will take over as the unit's CEO, the people said. Yu has headed Huawei's consumer unit, which includes its smartphone business, since 2012, a period marked by rapid growth, a hit from U.S. sanctions to the company's supply chain and more recently a rebound in sales. Yu's role as chairman of Huawei's smart car solutions business, a unit the company has said it intends to spin off into a new company, is unchanged, the person said.
Documents in the antitrust case against Google revealed that the price it pays to be Apple's default search engine has increased over the years.
It's been a mediocre week for Transocean Ltd. ( NYSE:RIG ) shareholders, with the stock dropping 12% to US$5.22 in the...
Global fast food giants may have to dole out steeper promotions to lure inflation-hit customers who are increasingly opting to eat at home, following weak sales from the likes of McDonald's and Starbucks this week. Disposable income in the United States is declining, particularly in the lower-income cohort, while the slow economic recovery in China has increased industry-wide pressures for quick-service chains including KFC owner Yum Brands that has extended across several quarters. Packaged food companies are also feeling the pinch of weak consumer spending, especially from low-income households, as their cookies and baked snacks see a slowdown in sales.
You no longer need a college degree to get a high-paying job. Many of the top companies in the U.S., including Walmart, Amazon, Apple, Uber and Nike, have removed degree requirements from some job...
Despite not offering nearly as many products as traditional grocery stores, Trader Joe's has some of the most devout shoppers in the U.S. The chain is also an outstanding employer. Aldi vs. Trader...
Canadian oil and gas company Cenovus Energy beat first-quarter profit estimates on Wednesday due to higher production and refinery throughput, and executives said the start-up of the Trans Mountain pipeline expansion (TMX) would open up new markets. TMX will nearly triple the flow of oil to Canada's west coast to 890,000 barrels per day, which is expected to transform access to global markets for the country's producers. "Our teams have been working with buyers, there's a pretty vast market out there, which is exciting," Drew Zieglgansberger, chief commercial officer at Cenovus, said on an earnings call, adding the company expected some "bumpiness" in the pipeline's initial operations.
Saving money or having the extra cash to spend as you wish can seem like a pipe dream in an era of economic uncertainty.
The U.S. government is weighing whether to treat Apple, Google and PayPal-owned Venmo more like banks - and regularly inspect some of their operations - in a move meant to protect millions of Americans who now use their smartphones to pay at the register and send money to family and friends. But the prospect of heightened federal oversight has sparked deep and wide-ranging unease throughout the tech industry, triggering a lobbying offensive that aims to limit the government’s power to monitor mo
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