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Ontario’s online sports betting and gambling market is expected to generate nearly a billion dollars in gross revenue in its first year.
President Joe Biden is paying a steep price for high inflation — a problem that festered during his first year in office instead of fading away as he suggested it would. His $1.9 trillion coronavirus relief package, enacted in March, drove what will probably be the fastest economic growth since 1984 and pulled the unemployment rate down to 3.9% at a quicker pace than experts predicted. But after unprecedented government interventions and supply chain problems, inflation is running at a nearly 40
GATINEAU, Que. — Hexo Corp. says it expects its new strategic plan to reduce selling, general and administrative expenses by about 30 per cent by the end of fiscal 2023. The Gatineau, Que.-based cannabis company says its plan, which was unveiled last month after its debts mounted and founder left the businesses, will deliver about $175 million in cash over the next two fiscal years. The company says the plan will generate incremental cash flow of about $37.5 million in fiscal 2022 and an additio
China must prevent and defuse the risk of external shocks this year while strengthening macro-prudential management and guiding market expectations, the country's foreign exchange regulator said on Friday. The comments come as the U.S. Federal Reserve is widely expected to start hiking interest rates as early as March, while its Chinese counterpart has stepped up monetary easing to prop up a slowing economy, raising concerns about possible capital outflows due to the policy divergence. During the previous round of Fed tightening in 2018, China's currency depreciated sharply.
Stocks have been falling across the board. Which dividend stocks should you buy to survive the market correction? The post 3 Dividend Stocks to Buy to Fight the Market Correction appeared first on The Motley Fool Canada.
TOKYO (Reuters) -Sony Group will likely add new technology partners to its electric vehicle (EV) project to help it forge a mobility business to transform cars from transportation machines to entertainment spaces, a Sony executive told Reuters. An ongoing shift to electric cars, which are easier to build than those with internal combustion engines, is allowing new entrants into vehicle manufacturing. At the same time, autonomous driving and 5G connectivity is expected remold the auto industry by turning cars into mobile platforms for information and entertainment services.
A swift recovery in global economy from the COVID-19 pandemic and a supply tightening by the Organization of the Petroleum Exporting Countries (OPEC) and its allies helped drive a 50% surge in oil prices last year, prompting companies to raise their capital budgets in anticipation of strong demand. The Calgary-based oil and gas lobby expects oil-rich Alberta to lead the country's provinces, forecasting C$24.5 billion in investments in 2022. "Rapid demand growth for oil and natural gas globally and strengthening commodity prices mean there is opportunity for Canada's industry for decades to come," said Tim McMillan, the group's president and chief executive officer.
As part of its battle against inflation and a return to more normal monetary policy, the U.S. Federal Reserve is approaching a decision to reduce its balance sheet, https://graphics.reuters.com/USA-FED/BALANCESHEET/byprjmwezpe/index.html which has roughly doubled in size during the pandemic to nearly $9 trillion. It's a huge stockpile that has been helping hold down longer-term interest rates - including the mortgage rates households worry about when they buy a home - and which influences a wide range of asset and other prices in the economy. It has been a long journey to a balance sheet that big, and it will be a long trip back to whatever level of assets the Fed decides is "normal" for it to hold.
The chip and supply chain shortages of 2021 have been difficult for automakers and consumers alike. But something positive has emerged from the chaos for 2022: more new car introductions. Among other things, the shortage forced many brands to delay the release of all-new and redesigned vehicles that were originally scheduled for 2021. To help you sort through the debuts, the experts at Edmunds have compiled a list of the five hottest vehicles that will arrive at dealerships in the next six to ni
Tilting your stock portfolio toward energy and commodities could be a good play during inflationary conditions. The post Need a Hedge Against High Inflation? Buy This Energy Sector ETF appeared first on The Motley Fool Canada.
The Canadian dollar strengthened against the greenback on Thursday as U.S. bond yields stabilized and Ontario, Canada's most populous province, said it would soon ease restrictions to curb the spread of the Omicron coronavirus variant. The loonie was trading 0.3% higher at 1.2472 to the greenback, or 80.18 U.S. cents, after trading in a range of 1.2454 to 1.2516. Among G10 currencies, only the Australian dollar notched a bigger gain.
Canadians can earn generous passive income every month from a combined investment in two dividend beasts. The post Passive Income: Earn $180/Month in Dividends appeared first on The Motley Fool Canada.
Building wealth for your retirement via investing doesn't have to be an active engagement. Certain buy-and-forget assets can set you on the right track. The post Retirement Planning: 3 RRSP Stocks for Hands-Off Wealth Building appeared first on The Motley Fool Canada.
JAKARTA, Indonesia (AP) — Indonesia’s leader said Thursday that his country, which holds the presidency of the Group of 20 biggest economies this year, wants to strengthen global partnership and inclusiveness to aid the economic recovery amid a resurging COVID-19 pandemic. In an online address to the World Economic Forum, Indonesian President Joko Widodo committed to making the G-20 presidency an important part of the response, with a focus on inclusive health care, the digital transformation an
Investors who can’t afford to lose their money should forget about weed stocks and avoid the industry leaders in 2022. The post Frustration, Not Profits: 3 Must-Avoid Weed Stocks in 2022 appeared first on The Motley Fool Canada.
(Reuters) -American Airlines Group Inc on Thursday forecast returning to profitability in March, after reporting a smaller fourth-quarter loss, but said cost pressures would remain elevated this year due to the Omicron coronavirus variant-induced turmoil. The company said domestic leisure and short-haul international traffic were approaching their 2019 levels, but demand for long-haul international remained challenged. American, however, said the volatility in travel demand due to new COVID-19 variants has created "the most challenging planning environment in the history of commercial aviation".
WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant continued to disrupt the job market. Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid-October, the Labor Department reported Thursday. The jump in claims marked the biggest one-week increase since mid-July. The four-week average of claims, which smooths out weekly volatility, rose by 20,000 to 231,000
The holidays have left without a trace. Well, almost. Long after the decorations have come down, you still have debt hanging around. Don’t let it put a damper on your year. Here’s what you can do to take control of your holiday debt. REVIEW WHAT YOU OWE First, gather a few important details about your debt. Make a list of your accounts for each type of debt you have. Perhaps you spread holiday purchases across a couple of different credit cards and a “buy now, pay later” loan, for example. For e
These unloved stocks look cheap and could outperform in 2022. The post 2 Cheap TSX Stocks to Buy Right Now appeared first on The Motley Fool Canada.
LONDON (AP) — Consumer prices in the United Kingdom have risen at the fastest pace in almost 30 years as higher costs for energy, transportation, food and furniture squeezed household incomes. Inflation accelerated to 5.4% in the 12 months through December, up from November's 5.1%, the Office for National Statistics said Wednesday. Last month's annual figure is the highest since March 1992, when inflation stood at 7.1%. Economists warned that inflation is likely to rise further in the coming mon