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(Reuters) -Australia's Graincorp raised its annual profit forecast for the second time, as the agribusiness firm capitalises on strong demand for grains and vegetable oils amid a supply crunch from the war in Ukraine, pushing its shares up more than 10%. The profit upgrade on Wednesday was also encouraged by expectations of above-average East Coast Australian (ECA) crop in year 2022/23, combined with a favourable three-month rainfall outlook. Global wheat prices reached record levels in early 2022 as major exporter Ukraine's supplies were essentially cut off due to Russia's invasion, triggering a five-fold jump in Graincorp's first-half profit and allowing it to pay a special dividend.
i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the "Company") is pleased to report its operating and financial results for the three and six months ended June 30, 2022. i-80's Consolidated Financial Statements ("financial statements"), as well as i-80's Management's Discussion and Analysis of Operations and Financial Condition ("MD&A") for the three and six months ended June 30, 2022, are available on the Company's website at www.i80gold.com, on SEDAR at www.sedar.com, and on EDGAR at www.s
U.S. consumer prices decelerated in July as gasoline prices dropped sharply, raising hopes the U.S. Federal Reserve may dial back its aggressive path of interest rate hikes. The consumer price index was unchanged last month after advancing 1.3% in June, the Labor Department said on Wednesday. In the 12 months through June, the CPI climbed 8.5%, below expectations of an 8.7% rise and after a 9.1% rise in June.
Large shifts in the composition of the U.S. workforce in the wake of the COVID-19 pandemic have made it harder to measure underlying productivity growth, which some economists put at about 1.0% or less, making the Federal Reserve's fight against inflation more difficult. Unit labor costs - the price of labor per single unit of output - rose at a 10.8% rate.
The Canadian dollar weakened against its U.S. counterpart on Tuesday, adding to its August decline, as cautious trading gripped financial markets ahead of a key U.S. inflation report this week. The Canadian dollar was down 0.3% at 1.2895 to the greenback, or 77.55 U.S. cents, after trading in a range of 1.2844 to 1.2900. "The broader tone appears to be dominating and CAD is trading in tandem with risk, given modest weakness across global equity indices," said Eric Theoret, global macro strategist at Manulife Investment Management.
Petroleos Mexicanos (Pemex) has made progress in talks with global energy trader Vitol about resuming trading ties that broke down last year during a bribery scandal, and the companies must iron out some issues such as compensation for damages Mexico's state oil company suffered, two sources at Pemex said. The sources at Pemex did not offer details on how the damages from the scandal would be calculated or give an estimate. Vitol and Pemex declined to comment.
TOKYO (AP) — Asian shares mostly declined Tuesday amid a global fall in technology shares, including Japan's SoftBank, which has reported hefty losses caused by the market downturn. Such worries are coming on top of concerns about inflation and what central banks might do to curb that trend. Higher interest rates tend to work as a minus for share prices. Shares fell in Tokyo but rose in other regional markets. U.S. futures edged higher while oil prices fell. Japan's technology investor SoftBank
Canadians looking to diversify their portfolios and gain exposure to U.S. stocks can purchase shares of high-growth companies such as The Trade Desk and benefit from exponential gains. The post TFSA Investors: 2 U.S. Stocks I’m Never Selling appeared first on The Motley Fool Canada.
Tactic to lower emissions will reduce yields at a time when food security is a major concern, farmers argue
EIA projected 2022 power sales would rise to 1,494 billion kWh for residential consumers, 1,371 billion kWh for commercial customers as more people return to work in offices and 1,019 billion kWh for the industrial sector. EIA said natural gas' share of power generation will be 37% in 2022, the same as in 2021, before sliding to 36% in 2023. Nuclear power's share will slide to 19% in 2022, from 20% in 2021, before rising back to 20% in 2023.
Today, McDonald's Canada and McCain Foods Limited are proud to announce a new partnership to create the Future of Potato Farming Fund by investing $1M in education, demonstration, and cost-sharing grants to support potato farmer adoption of regenerative practices and technology. The new Fund's goals are building soil health and farm resilience as Canadian potato farmers face the escalating impacts of climate change on yield and crop quality.
(Reuters) -Swiss duty-free retailer Dufry said on Tuesday it saw strong sales momentum continue in July despite the soaring inflation, after its turnover more than doubled in the first six months of the year. The Basel-based group posted a 146% rise in turnover to 2.92 billion Swiss francs ($3.06 billion) in the January to June period, corresponding to 75.5% of the pre-pandemic 2019 levels in constant currency. Chief Executive Officer Xavier Rossinyol, who took over the role from June 1, said the strong momentum had continued into July, when it reached around 90% of 2019 turnover levels.
The offer price marks a premium of more than 53% to Recipe's last close. Recipe said it had entered into a letter of intent with Fairfax, adding its board would recommend shareholders vote in favor of a takeover once the deal was finalized. Founded in 1883, Vaughan, Canada-based Recipe operates brands such as Kelseys, East Side Mario's and New York Fries.
Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) ("Vox" or the "Company"), a returns focused precious metals royalty company, is pleased to announce an update on the producing Wonmunna Iron Ore Mine ("Wonmunna") in Western Australia, controlled by ASX-listed Mineral Resources Limited ("MinRes"). Vox holds an uncapped 1.25% - 1.50% gross revenue royalty over Wonmunna, which forms a key part of MinRes' 11Mtpa Utah Point Hub operations in the Pilbara region.
MONTREAL — WSP Global Inc. is extending its buying streak, as the Montreal-based engineering giant announced its sixth acquisition in 10 weeks. The company said Monday after markets closed it has reached a roughly $975-million deal to purchase RPS, a consulting firm based in the United Kingdom with about $875 million in annual revenue and 5,000 employees worldwide. The 52-year-old outfit focuses on climate change and energy consulting, an area where WSP has recently broadened its footprint. In J
Fairfax Financial Holdings (TSX:FFH) is going bargain hunting after a tough first half of 2022. The post TFSA Investors: 1 Deeply Undervalued Stock to Ride Out a “Mild” Recession appeared first on The Motley Fool Canada.
Google Fiber plans to bring its high-speed internet service to multiple cities in Arizona, Colorado, Idaho, Nebraska and Nevada over the next several years in its first big expansion since it spun out as an independent Alphabet Inc unit in 2015. In his first media interview since becoming chief executive of Google Fiber in February 2018, Dinni Jain told Reuters on Wednesday that his team was finally prepared to "add a little bit more build velocity" after over four years of sharpening operations. "There was an impression 10 years ago that Google Fiber was trying to build the entire country," Jain said.
The dollar fell broadly on Wednesday following a cooler-than-expected U.S. inflation report for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the Federal Reserve. The Australian dollar, seen as a barometer of risk, was up 1.74% at $0.7083.
Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the "Company" or "Etruscus") announces the commencement of the Company's 2022 field exploration program (the "Program") at its 100% owned Rock and Roll Property (or "Property") located in the prolific Golden Triangle, northwestern British Columbia, Canada. The Program will focus on two new targets identified from the 2021 field program.
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