Financial

Oil roller coaster to continue

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Oil is expected to swoon again in the weeks ahead but should eventually settle greater than current levels sometime next year, says TD Economics in its latest update on crude prices. “There\’s considerable risk for an additional leg down in prices within the coming months,” Dina Ignjatovic, an economist in the bank, said in a note to clients. “Overall, we ...

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Martha Stewart Living shares slide after $353-million takeover bid: ‘A fizzle-out end for once empire’

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Martha Stewart Living Omnimedia Inc. slumped around 14 per cent after Sequential Brands Group Inc. made an offer to buy the home-decor company for US$6.15 a share, below its closing price on Friday. Investors had anticipated a greater price. Through Friday, the shares had jumped 37 percent over 2 days amid reports of the imminent takeover by Sequential Brands, who ...

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Who are the takeover targets as energy money moves out of Alberta?

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The uncertainty surrounding Alberta’s policy on gas and oil royalties has already caused several companies to shift capital into other provinces, and this should come as no surprise. Premier Rachel Notley and her newly-elected NDP government promise to move quickly on their own royalty review, and description how the process works by the end of summer time. The economic environment ...

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Facebook surpasses Wal-Mart in stock price valuation, knocking retail chain out of top 10

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NEW YORK – Facebook has become bigger than Wal-Mart, a minimum of when it comes to its value on the stock market. The world\’s biggest online social network knocked the world\’s largest retailer out of the top 10 listing of the highest-valued companies within the Standard & Poor\’s 500 index on Monday and the gap widened on Tuesday. Related Why ...

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What is the worst that could happen if Greece actually defaults?

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The threat of Greece defaulting is all over the headline news, but investors apparently couldn\’t care less. Is political contagion the bigger Greece risk? Financial contagion may be the big concern today as talks between Greece and its creditors have collapsed for the umpteenth time.Read on European stocks actually rose Tuesday despite the fact that Greece seems to be on ...

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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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