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MARKETS LIVE BLOG:

STOCKS JUMP AS INVESTORS CHEER COOLER INFLATION PRINT

U.S. CPI posts year-over-year increase of 8.5% in July, down from June's 40-year high of 9.1%

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7 Shot in East Baltimore mass shooting

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Latest Stories

  • Australia's Graincorp hikes profit view again on soaring demand, favourable weather

    (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.

  • U.S. productivity posts biggest ever annual drop in second quarter

    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.

  • SPARTAN DELTA CORP. ANNOUNCES RECORD SECOND QUARTER 2022 RESULTS, CLOSING OF STRATEGIC ACQUISITION AND UPDATED GUIDANCE FOR 2022

    Spartan Delta Corp. ("Spartan" or the "Company") (TSX: SDE) is pleased to report its unaudited financial and operating results for the three and six month periods ended June 30, 2022, details of a strategic acquisition, as well as an update to the Company's guidance for the remainder of 2022.

  • RRSP Investors: 1 Top Contrarian Stock to Buy Now

    Here's why this top Canadian energy stock with a high dividend yield looks undervalued and good to buy now for a self-directed RRSP. The post RRSP Investors: 1 Top Contrarian Stock to Buy Now appeared first on The Motley Fool Canada.

  • WSP Global to buy U.K. environmental firm as rapid-fire acquisitions continue

    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

  • U.S. power use to reach record high in 2022 as economy grows, EIA says

    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.

  • i-80 Gold Reports Q2 2022 Operating Results

    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

  • Martinrea International Inc. reports net income of $25.5 million

    TORONTO — Martinrea International Inc. says it had net income of $25.5 million for the quarter ending June 30, up from $24 million for the same quarter last year. The automotive parts manufacturer says adjusted net income was also $25.5 million, which worked out to 32 cents per share, while adjusted net income last year was $27 million or 34 cents per share. The Toronto-based company says total sales were $1.11 billion, up 26 per cent from last year. Analysts had expected adjusted earnings of 30

  • Toshiba logs surprise quarterly operating loss on higher materials costs

    Toshiba Corp on Wednesday posted an unexpected operating loss in the April-June first quarter as it grappled with a global chip shortage and a sharp rise in costs for raw materials. Higher material and logistics costs pushed down its operating earnings by 9.4 billion yen, while a chip shortage had a negative impact of about 3 billion yen, the company said. Bain Capital, CVC Capital Partners and Brookfield Asset Management as well as a consortium involving state-backed Japan Investment Corp and private equity firm Japan Industrial Partners have been selected by Toshiba to proceed to a second bidding round.

  • 'Crop yields will suffer': Fertilizer reduction targets pitting farmers against federal government

    Tactic to lower emissions will reduce yields at a time when food security is a major concern, farmers argue

  • Suncor's Colorado refinery back to normal operations after Monday outage

    CALGARY — Suncor Energy Inc. says its Commerce City refinery in Colorado is back up and running after an equipment malfunction earlier Monday. Suncor spokeswoman Mita Adesanya said the malfunction caused the safety system within one of the units at the refinery to activate. She said the system worked as designed, shutting down the equipment to prevent any further disruption to operations. Suncor sent out an alert Monday morning warning residents in the area that the temporary shutdown could resu

  • Canada's Fairfax proposes C$1.2 billion takeover bid for Recipe

    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.

  • Russian oil shipments to central Europe expected to resume

    BRATISLAVA, Slovakia (AP) — Oil shipments from Russia through a critical pipeline to several European countries should resume soon after a problem over payments for transit was resolved, Slovakia’s Economy Minister Richard Sulik said on Wednesday. “I expect the oil shipments to resume in hours,” Sulik said. Russian state pipeline operator Transneft said Tuesday it halted shipments through the southern branch of the Druzhba, or Friendship, pipeline, which runs through Ukraine to the Czech Republi

  • What to Watch for on the TSX Today

    Canadians should beware healthcare and technology sectors. Stocks like Shopify Inc. (TSX:SHOP)(NYSE:SHOP) and others are being punished. The post What to Watch for on the TSX Today appeared first on The Motley Fool Canada.

  • 'Soft landing is wishful thinking at this stage:' former Bank of Canada economist

    Episode 161 of Down to Business podcast

  • Bangladesh garment export growth seen slowing to 'normal' 15% this year

    Growth in Bangladesh's garment exports could drop to about 15% this year after an unusually strong expansion of more than 30% in 2021, two industry leaders told Reuters on Wednesday, as U.S. and European customers grapple with cost of living pressures. The garment industry accounts for more than 80% of total exports for Bangladesh, which sells to clients such as Walmart, Gap Inc, H&M, VF Corp, Zara and American Eagle Outfitters - some of which have already flagged weak sales as their customers prioritise basics. "We should be at about 15% growth for the calendar year - this is going to be a normal year," said Miran Ali, a vice president at the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

  • Vuzix Reports Second Quarter 2022 Results

    Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, today reported its second quarter results for the period ended June 30, 2022.

  • Dollar tumbles after cooler-than-expected U.S. inflation data

    The dollar fell more than 1 percent on Wednesday following a cooler-than-expected inflation report for July that raised expectations of a less aggressive rate hike cycle than previously anticipated from the U.S. Federal Reserve. "This is good news for FX traders, as it was a pretty clear reaction and you will probably see that there still should be some follow-through," said Edward Moya, senior market analyst at Oanda. The Fed has indicated that several monthly declines in CPI growth will be needed before it lets up on the increasingly aggressive monetary policy tightening it has delivered to tame inflation currently running at four-decade highs.

  • Northrop buys trio of SpaceX launches as it upgrades Antares rocket

    Northrop Grumman has signed a launch deal with Elon Musk's SpaceX to send three cargo missions to the International Space Station while the company builds an upgraded version of its workhorse Antares rocket, a Northrop spokeswoman said on Monday. The launch agreement with SpaceX coincides with Northrop climbing out of a months-long predicament with its workhorse Antares rocket, whose Russian-made engines were cut off from the United States in March by Moscow in retaliation for Western sanctions over its invasion of Ukraine. "The launches will take place in late 2023 and 2024 from the Kennedy Space Center, Florida in support of the NG-20, -21 and -22 CRS missions," Northrop spokeswoman Ellen Klicka said in an email.

  • Wall St climbs as signs of cooling inflation ease rate hike bets

    Wall Street's main indexes rose more than 1% on Wednesday after data showing a slower-than-expected rise in inflation in July prompted traders to cut their bets on a third straight 75-basis-point interest rate hike in September. The market is now pricing in a 37.5% chance of a 75-basis-point increase in fund rates at the U.S. Federal Reserve's next meeting in September, compared with 67.5% before the data. "The sign of slowing in the rate of inflation offers hope the Fed's rate increases won't need to go as far as previously thought," said Mike Owens, global sales trader at Saxo Markets.