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(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.
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
LONDON (AP) — Europe has moved to lead the world in regulating the freewheeling cryptocurrency industry at a time when prices have plunged, wiping out fortunes, fueling skepticism and sparking calls for tighter scrutiny. European Union negotiators hammered out the final details for a provisional agreement late Thursday on a sweeping package of crypto regulations for the bloc’s 27 nations, known as Markets in Crypto Assets, or MiCA. “In the Wild West of the crypto-world, MiCA will be a global sta
OTTAWA (Reuters) -Canada's economy most likely contracted in May, largely on a drop in oil and gas output, official data showed on Thursday, while GDP growth in April was in line with analyst forecasts. In a preliminary estimate, Statistics Canada said gross domestic product likely declined 0.2% in May, following a gain of 0.3% in April. "In the near-term we won't know whether the economy is making a U-turn or just a brief detour," Royce Mendes, head of macro strategy at Desjardins Group, said in a note.
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
Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) ("Tribe" or the "Company") is pleased to announce that we have completed our acquisition of Southview Property Management Inc. ("Southview"), previously announced on May 12, 2022, further strengthening Tribe's property management services in the Greater Vancouver region of British Columbia. The Company is at arms-length from Southview and its existing shareholders.
Here are a few value TSX stocks to check out in July 2022. They also pay juicy, safe dividend income yielding up to 5.9%! The post 3 Value TSX Stocks to Eye in July 2022 appeared first on The Motley Fool Canada.
Voyager Digital LLC, the operating platform of Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), announced it is temporarily suspending trading, deposits, withdrawals and loyalty rewards, effective at 2:00 p.m. Eastern Daylight Time today.
E-commerce warehouse workers at HBC Logistics have voted overwhelming at 80% to accept a new tentative agreement, ending a nine-day strike action.
BERLIN (AP) — The rust-colored tower rising from an industrial site near the banks of Berlin's Spree river looks nothing like the sleek flasks Germans use for coffee, yet its purpose is similar: to provide some warmth throughout the day, especially when it's cold outside. With a height of 45 meters (almost 150 feet) and holding up to 56 million liters (14.8 million gallons) of hot water, utility company Vattenfall says the tower will help heat Berlin homes this winter even if Russian gas supplie
On June 29th, Antaisolar, the leading supplier of the whole industry chain in PV mounting system, held a new product launch online event. At this event, Antaisolar's new product Taiyang Roof, a building-integrated photovoltaics (BIPV) product, was officially released.
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
The U.S. Federal Communications Commission on Thursday authorized Elon Musk's SpaceX to use its Starlink satellite internet network with moving vehicles, green-lighting the company's plan to expand broadband offerings to commercial airlines, shipping vessels and trucks. Starlink, a fast-growing constellation of internet-beaming satellites in orbit, has long sought to grow its customer base from individual broadband users in rural, internet-poor locations to enterprise customers in the potentially lucrative automotive, shipping and airline sectors. "Authorizing a new class of terminals for SpaceX's satellite system will expand the range of broadband capabilities to meet the growing user demands that now require connectivity while on the move," the FCC said in its authorization published Thursday, echoing plans outlined in SpaceX's request for the approval early last year.
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").
Are you a new investor looking for stocks to add to your portfolio? Here are three top picks! The post New Investors: Start a Portfolio With These 3 Stocks appeared first on The Motley Fool Canada.
General Motors Co surpassed Toyota Motor Corp in second-quarter U.S. car sales, data on Friday showed, even as persistent chip shortages and supply-chain disruptions crimped automakers' ability to meet pent-up demand. GM, which lost its crown as the U.S. sales leader last year for the first time since 1931 to Toyota, said it sold 582,401 vehicles in the quarter through June, 15% lower than a year earlier. Toyota, which has been one of the worst hit automakers this year from supply chain disruptions and China's COVID-19 lockdowns, sold 531,105 vehicles, down 22%.
In a new take on ancient technology, Cargill, one of the world's biggest charterers of ships, is to add state-of-the art sails to a vessel early next year to test whether wind power can cut its carbon emissions, a top company executive said. With about 90% of world trade transported by sea, shipping accounts for nearly 3% of the world's CO2 emissions, yet environmental campaigners say efforts by the sector to cut emissions are slow. Leading agri group Cargill will start testing a dry bulk vessel with two wind sails in the first quarter of 2023, Jan Dieleman, president of Cargill's ocean transportation division, told Reuters.
(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.
WASHINGTON (AP) — Senate Republican leader Mitch McConnell threatened Thursday to derail a bill designed to boost semiconductor manufacturing in the United States if Democrats revive their stalled package of energy and economic initiatives. The rejuvenation of the Democratic reconciliation package, central to President Joe Biden's agenda is far from certain. But with some signs of progress in the negotiations, McConnell is moving to complicate Democratic plans. He's warning that Republicans woul