Financial

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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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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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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