Financial

David’s Tea lost $93.2 million in first quarter, just ahead of going public

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MONTREAL – David\’s Tea says it lost $93.2 million in the first quarter, just in front of becoming a publicly owned company. The Montreal-based company reported after markets closed that it is loss was equal to $7.73 per diluted share for that period ended May 2. That compared with a $1.4-million or seven cents per share profit in the comparable ...

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China bears rush to short U.S. ETF at record pace as rally fades

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U.S. investors have never been so believing that the rally in China\’s mainland stocks is ending. Short curiosity about the largest exchange-traded fund tracking yuan-denominated equities rose to a record 16 percent of shares outstanding Wednesday as bets on the price drop almost doubled from a month ago, based on data compiled by Markit and Bloomberg. Traders pulled $258 million ...

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Foreign demand for Canadian housing a bright spot for struggling economy

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The Canadian economy tanked in the first quarter, and April\’s data C like basically non-existent growth in consumer spending C don\’t exactly cause you to feel things are getting better anytime soon. Our manufacturers should be picking up the slack developed by low oil prices, there is however little evidence in export or business investment data that Canada\’s non-energy companies ...

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Here’s what Greece and its creditors still disagree on

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As eurozone finance ministers struggle to find a way to avoid a Greek default in a few days, the key issue is how to fix Greece’s budget. A leaked form of a new proposal obtained by the Financial Times on Thursday shows that Greece’s creditors have offered some compromises on reforms. Whether Greece accepts these or otherwise remains to be ...

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North American stocks tumble as Grexit fears spook investors

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U.S. stocks opened sharply lower on Monday as Greek bailout talks failed, raising concerns that the country could exit the eurozone. The Dow Jones industrial average fell 88.71 points, or 0.49 percent, to 17,857.97, the S&P 500 lost 13.58 points, or 0.65 percent, to 2,087.91 and also the Nasdaq Composite dropped 59.20 points, or 1.17 percent, to 5,021.31. The TSX ...

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Insurer Ace Ltd buying Chubb Corp in $28-billion deal that creates one of world’s largest insurers

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WARREN, N.J. – Insurer Ace Ltd. is buying The Chubb Corp. for about $28.3 billion in cash and stock inside a deal and build one of the world\’s largest insurers. The deal, among the largest to date this year, will prove to add diversity to Ace\’s global business and give it a powerful brand name within the U.S., where Chubb ...

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Base metals and cyclicals expected to have a better second half

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Base metals and cyclically linked sectors for example banks are required to the take advantage of better global growth in the second 1 / 2 of the year, says Jim McCormick, an asset allocation strategist at Barclays Capital Markets. McCormick expects overall portfolio returns to be modest over the next 6 months with equities continuing to outperform bonds. “(We) pricier ...

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Shifting from risky and volatile momentum trades to value trades

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There’s without doubt momentum trades based on trends like the strong U.S. dollar, falling oil prices, lower interest rates and the strong U.S. consumer rewarded investors handsomely in 2014. But their performance is far less steady this season so momentum as a factor has become more volatile and risky. “The swings around how momentum trades perform on a day-to-day or ...

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Investors connect the dots of financial forecasts at their perils

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The growing globalization of monetary markets over the past 30 years means information in the four corners of the world is amassed instantly for the use of traders, pundits, and ordinary investors. But rather than increasing the batting average of monetary forecasters, all this extra info only adds to the noise surrounding their less-than-perfect predictions. Human nature compels us to ...

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Canada lags again: Why the country is a stock picker’s playground

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A slumping economy, precarious oil prices, over-leveraged consumers and a possible housing bubble ready to burst: Canada isn’t looking so good these days. Throw inside a lack of diversification and it\’s little wonder why the country’s primary equity market continues to lag its global counterparts heading into the back 1 / 2 of 2015. There just isn\’t much for investors ...

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