A big weekend for the SWAC Championship
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A big weekend for the SWAC Championship
PARIS (Reuters) -The world's largest luxury goods conglomerate LVMH sees soaring demand for its fashion, handbags and jewellery continuing in 2022 after shoppers snapped up high-end wares over the holiday season. LVMH, which owns brands spanning Hennessy cognac to cosmetics retailer Sephora, said on Thursday fourth-quarter sales growth accelerated, reaching 20.04 billion euros ($22.34 billion) overall, with growth led by the French group's biggest earners Louis Vuitton and Dior. The luxury labels propelled a 28% rise in sales of LVMH's largest division, fashion and leather goods, on a like-for-like basis, beating analyst expectations for 16% growth.
BEIJING (AP) — Asian stock markets tumbled by unusually wide margins Thursday after the Federal Reserve indicated it plans to start raising interest rates soon to cool inflation. Market benchmarks in Tokyo and Hong Kong fell by more than 2%. Seoul and Sydney sank nearly 3%. Wall Street's benchmark S&P 500 index lost 0.1% on Wednesday after a Fed statement said the U.S. central bank “expects it will soon be appropriate” to raise rates. Investors expect as many as four rate hikes this year, starti
Top U.S. oil-producing states are trying to wrest oversight of carbon capture wells from federal regulators, hoping to speed the oil industry's preferred approach to combating climate warming amid calls for limits on fossil fuel production. Companies are proposing carbon capture and storage (CCS) hubs to sequester greenhouse gas emissions from refineries, chemical and natural gas plants, a move that could help slow global warming. Oil states, including Texas and Louisiana, want to take over permit reviews and enforcement authority, also known as primacy, from the U.S. Environmental Protection Agency (EPA) for carbon dioxide (CO2) and other greenhouse gas storages sites.
Here’s why I expect Shopify stock to see a big turnaround in the near term. The post Shopify Stock Selloff: Could it Turn Around in February? appeared first on The Motley Fool Canada.
Canada will send a high-powered group of cross-country skiers and biathletes to the start line in Beijing with a focus on contributing to the nation's medal count at the 2022 Paralympic Winter Games, the Canadian Paralympic Committee and Nordiq Canada announced on Wednesday.
WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will begin a series of interest-rate hikes in March, reversing pandemic-era policies that have fueled hiring and growth — and stock market gains — but also stubbornly high inflation. Chair Jerome Powell said at a news conference that inflation has gotten “slightly worse” since the Fed last met in December. He said raising the Fed’s benchmark rate, which has been pegged at zero since March 2020, will help prevent high prices from be
GENEVA (AP) — The finance model for the Winter Olympics calls for the host country to spend several billion dollars, the IOC to earn a couple billion, and sports bodies to share around hundreds of millions. Fortunately for China, turning a profit from the 2022 Beijing Games was not a priority even before the coronavirus pandemic wiped out some expected sources of income. Chinese President Xi Jinping set a goal in 2015 to create a new tourism industry in the country. “It will inspire over 300 mil
These top dividend stocks look attractive right now for RRSP investors. The post RRSP Growth: 2 Top TSX Dividend Stocks to Own for Decades appeared first on The Motley Fool Canada.
BERLIN (AP) — Stefanie Hoener was at home one night in Berlin when she heard police sirens wailing through her Prenzlauer Berg neighborhood and anti-vaccine protesters shouting angry slurs as they marched down to the Gethsemane Church — a symbol of the peaceful 1989 revolution in East Germany that ended the communist dictatorship. “That night these people really crossed a line,” Hoener said Monday as she stood with 200 others— many of them neighbors — in front of the red brick church to protect
HALIFAX — Nova Scotia's power utility is asking for an average general rate increase for residential customers of 9.9 per cent over three years, with possible additional costs due to severe weather and energy efficiency costs. Nova Scotia Power's increases for large industrial customers would be slightly over 10 per cent, while small and medium business tariffs would go up between 11 and just over 12 per cent over the same three-year time period. The base rate increases are proposed to take effe
Air Canada's flight AC2201 today from Vancouver to Beijing marks the first of three special charter flights transporting Team Canada to the Beijing 2022 Olympic and Paralympic Winter Games. The airline also named its Team Air Canada athlete ambassadors and outlined its comprehensive program in support of Team Canada's journey to excellence at the 2022 Winter Games.
NEW DELHI (Reuters) -India's Tata Group took control of state-run carrier Air India on Thursday, regaining ownership of the airline after nearly 70 years and marking a victory for Prime Minister Narendra Modi's privatisation push. The auto-to-steel conglomerate in October won the bid https://reut.rs/3AyAZTz to take over Air India in a $2.4 billion equity and debt deal, ending years of struggle to privatise the financially troubled airline that was kept afloat using taxpayer funds. The Air India strategic disinvestment transaction has been completed today with the government receiving about $360 million in equity and Tata taking over more than $2 billion of Air India's debt, the finance ministry said in a statement.
TORONTO — Canada's largest association of small and medium-sized businesses is urging the federal government to reverse its policy banning unvaccinated truck drivers from entering Canada. The Canadian Federation of Independent Business says the vaccine mandate is creating supply shortages and driving up shipping costs. CFIB president Dan Kelly says businesses were already facing a major supply chain crunch and price increases on everything from fuel to building materials. He says Ottawa's border
NEW YORK (AP) — The pandemic forced 30-year-old Stephanie Harnen to twice postpone her wedding. When she finally did get married, in June last year, she settled for a Thursday because her venue was fully booked on weekends. That turned out to be just fine with Harnen and her husband, Trevor. Most of their 163 invited guests made it, thanks to pent-up vacation time and flexibility working from home. Plus, she saved at least $10,000, in part by taking advantage of reduced rates at the Middletown,
NEW YORK (Reuters) -Visa Inc beat Wall Street's quarterly estimates on Thursday as more international travel and e-commerce drove an increase spending volumes. While travel spending has stalled since late December due to the Omicron variant of the coronavirus, Visa executives said they believe the recovery will resume and net revenue will grow in the second fiscal quarter this year. "The upside is going to come from the continued recovery of travel and the affluent customer getting back in the mix of spending at the levels they were pre-pandemic,” Visa Chairman and Chief Executive Alfred Kelly said on a call with analysts.
The Bank of Canada will soon starting hiking interest rates from record lows to combat inflation, Governor Tiff Macklem announced on Wednesday, saying the economy no longer needed help to deal with the effects of the COVID-19 pandemic. But others saw no harm in waiting five more weeks to move, saying it would have been worse to raise rates without first removing the commitment to keep them at record lows until slack was absorbed.
The stock market downturn has reiterated the need to have an all-seasons portfolio. With some risk, you can balance your returns. The post Top 3 Stocks to Build an All-Season Portfolio for Medium-Risk Investors appeared first on The Motley Fool Canada.
TOKYO (Reuters) -Nidec Corp, a Japanese maker of electric motors, on Wednesday said third-quarter operating profit dipped as rising material prices and a shortage of semiconductors squeezed margins. "Delays in negotiations to increase product prices were a reason for the profit drop," Chairman and founder Shigenobu Nagamori said at a briefing. Both executives said they continued to work closely together, dismissing recent media reports that the company founder regretted hiring the former Nissan Motor Co executive in 2020 to succeed him.
(Reuters) -Abbott Laboratories on Wednesday beat quarterly profit and sales estimates, aided by robust sales of COVID-19 test kits and strong demand for its diagnostics products, but forecast lower-than-expected COVID-19 testing sales in 2022 due to uncertainties around the future of the pandemic. Abbott said it expects $2.5 billion in sales of COVID-19 test kits in the early part of this year. The company will update its test kit estimates on a quarterly basis.
GM's announcement comes just a day after the company unveiled a $7 billion investment plan in Michigan, mainly toward making full-size electric pickups, intensifying a battle with rival Ford Motor Co for EV supremacy in North America. The automaker, which was dethroned as the U.S. sales leader in 2021 by Japanese rival Toyota Motor Corp, plans to boost its North America EV production capacity to more than a million units by late 2025. It will also have to contend with current EV leader Tesla, which will soon open a second U.S. plant in Austin, Texas, and is on pace to sell more than 1 million electric vehicles globally in 2022.