Business

Energy stocks push Toronto stock market higher, loonie trades lower

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TORONTO – The Toronto Stock market ended your day higher on Thursday, helped by strength within the energy stocks as some big names within the sector announced plans to cut costs in releasing their quarterly results. The S&P/TSX composite index gained 80.98 points to 14,382.78 as Suncor Energy said it plans to cut its capital spending and Cenovus Energy slashed ...

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Financial turmoil in August? Best keep your smartphone by the pool

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Everybody can take their feet up and relax. We are heading in to the dog days of summer. And even in uncertain times, we can be sure of one thing: nothing associated with a real importance is going to happen within the next four weeks. How short sellers are accumulating a new front within their war on Canadian stocks The ...

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Home Capital shares surge after company provides additional details about mortgage fraud allegations

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Home Capital Group Inc. gave investors some long-awaited details Thursday into a study that saw a large number of brokers terminated for falsifying borrower incomes in mortgage applications. In what ended up being a more than hour long call, management faced a number of questions over the 45 brokers which were cut loose following a study that began this past ...

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Twitter Inc shares rise as second-quarter revenue tops analyst estimates

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Twitter Inc. reported second-quarter sales that topped analysts\’ projections, a bright location for the growth-challenged company because it seeks a brand new chief executive officer. Shares jumped around 12 percent. In the second quarter, revenue rose 61 per cent to US$502.4 million, the social-media company said Tuesday in a statement. That exceeded analysts\’ average projection for US$481.9 million, according to ...

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Time for emerging market central banks to step up

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It’s time for emerging market central banks to execute a little more heavily lifting for the global economy, after some help from the U.S. Fed. As Martin Roberge, portfolio strategist at Canaccord Genuity, highlights, every time there is an economic slowdown, it triggers a fiscal response by developed market central banks like the Fed and European Central Bank. As a ...

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CGI Group Inc weak on bookings, stronger on margins

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MONTREAL – CGI Group Inc. was again weak on bookings because it reported third quarter results on Wednesday, and?analysts say this might continue to be a concern moving forward because the company shifts its global focus. “It isn\’t one region that has been pushing down bookings for the firm, it\’s most regions,” said Maher Yaghi, an analyst with Desjardins Capital ...

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Never mind hedge funds, ETF trade has now topped America’s entire GDP

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Everyone is talking about how exchange-traded funds have now overtaken?hedge funds in terms of total assets. That\’s small change?compared with?how much ETFs?trade nowadays. In yesteryear 12 months investors traded US$18.2 trillion price of ETF shares, based on data from the New York Stock Exchange and Bloomberg. That\’s?a 17 per cent increase from the 12 months prior and most triple what ...

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5 more reasons why investors shouldn’t worship gold right now

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There’s no doubt lots of money was made when gold increased every year for more than a decade, but the past four years have been ugly, ugly, ugly. Gold is really as out of fashion as bell-bottom trousers: \’Nobody wants it\’ The problem for gold is not only that costs are dropping. For a lot of, the metal also offers ...

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Torstar Corp buys 56% stake in digital media company VerticalScope Holdings Inc for $200 million

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TORONTO – Torstar Corp. has purchased a 56 percent stake in digital media company VerticalScope Holdings Inc. for $200 million. VerticalScope owns and operates more than 600 online forums in addition to websites including AutoGuide.com, Motorcycle.com, ATV.com and PetGuide.com. Under the offer, Torstar acquired ABRY Partners\’ minority interest in VerticalScope along with more than a third from the shares held ...

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