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COVID-19 blues hit Coca Cola, thousands to lose jobs
December 18, 2020 10:23 PM EST| By Kunal SawhneyCoca Cola has sprung to limelight after announcing its plan to lay off 2,200 workers around the globe. The Company had to take this step as a part of its restructuring plan, which was necessitated because of unpalatable COVID-19 repercussions. In .....
Crude at Crossroads After Surpassing USD 50 Hurdle
December 18, 2020 10:09 PM EST| By Team Kalkine MediaCrude oil price rally has stalled post surpassing the 9-month high with the Brent crude oil futures reaching a high of USD 51.90 per barrel (intraday high on 17 December 2020). The market seems to have backed in the positive news on COVID-19 vaccine....
FCA Calls on Investors to Pull Out Their Money from Unregistered Crypto Asset Firms
December 19, 2020 09:09 AM AEDT| By Kunal SawhneyBritish financial regulator Financial Conduct Authority (FCA) is expected to go hard on unregistered crypto-asset firms. The FCA has urged the investors to pull out their investments from unregistered firms at the earliest. The FCA on Wednesday sa.....
Energy Sector Drags TSX Composite Down
December 18, 2020 05:06 PM EST| By Team Kalkine MediaThe benchmark index of the Toronto Stock Exchange, the S&P/TSX Composite Index, lost 118.31 points or 0.67% lower at 17,534.63. However, the S&P/TSX 60 VIX, which measures the implied volatility of index options, was unchanged at 11.27. Desp...
Canada’s Retail Sales Rise For 6th Month In Row, Up 0.4% In October
December 18, 2020 11:49 AM EST| By Kunal SawhneyCanada’s retail sales surged for the sixth month in a row in October, up by 0.4 per cent to C$ 54.6 billion, reported Statistics Canada on Friday, December 18. The sales growth, the report noted, was driven by motor vehicle and parts dealers......
Weston Family To Sells Stocks To Loblaw Companies (TSX:L) & George Weston (TSX:WN)
December 18, 2020 11:42 AM EST| By Team Kalkine MediaCanadian holding company George Weston (TSX: WN) and grocery chain Loblaw Companies Limited (TSX: L) are reportedly set to by some shares from the Weston family of Canada in an internal reorganization. Galen Weston, the Chairperson Emeritu...
Microbix® Biosystems (TSX: MBX) Reports Fiscal 2020 & Q4 Results
December 18, 2020 10:33 AM EST| By Team Kalkine MediaMicrobix® Biosystems Inc develops clinical diagnostics medical devices that ensure test accuracy. The company announced its 2020 fiscal year and fourth quarter (ended September 30, 2020) results on Friday, December 18. Microbi...
Trans Mountain Construction Stopped Amid Safety Concerns
December 18, 2020 10:13 AM EST| By Team Kalkine MediaTrans Mountain declared that it is halting construction activities on its pipeline extension project until early January 2021 due to safety concerns. Officials from the company and the Canada Energy Regulator informed that a worker was...
Canadian Pacific (TSX: CP) to hydrogen-powered locomotive pilot project
December 18, 2020 09:43 AM EST| By Team Kalkine MediaTranscontinental railway and freight transportation carrier Canadian Pacific Railway will soon launch a Hydrogen Locomotive Program, which will be North America's first line-haul hydrogen-powered engine. The locomotive will be retr...
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Coinbase Files For IPO In First For Cryptocurrency Exchange
December 18, 2020 08:55 PM AEDT| By Team Kalkine MediaCryptocurrency exchange, Coinbase Inc, announced on December 17 that it has secretly filed for a public offering on the U.S. Securities and Exchange Commission (SEC), becoming the latest in high-profile startups to follow an IPO route in 2020. If .....
Ahead of an IPO, Robinhood agrees to pay US$65 million to settle SEC charges
December 18, 2020 04:47 AM EST| By Edita IvancevicRobinhood, a financial service company, will pay US$65 million (A$85 million) to settle the government lawsuit in regard to not disclosing full information of its dealings with high-speed traders, and also not providing the best deal prices to its .....
BarkBox set to go public via $1.6M SPAC merger
December 18, 2020 02:15 AM EST| By Edita IvancevicBarkBox, the start-up company that became famous for its monthly subscription service for dogs, has announced a significant US$1.6 billion merger with Northern Star Acquisition Corporation. The merger will consequently make BarkBox a public company.....
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Ten Republican US states drag Google to court for its monopoly over ad business
December 17, 2020 11:58 PM EST| By Edita IvancevicTen attorneys general in the US opened another antitrust lawsuit against the search engine giant Google on Thursday. The Republican-led group of attorneys accused the multibillion-dollar company of showing monopoly behaviour in online advertisemen.....
Bitcoin surged to an all-time high of US$23,700, High traffic crashed exchanges
December 18, 2020 01:26 PM AEDT| By Team Kalkine MediaOn 16 December 2020, Bitcoin rose to the record high of US$21,569, surpassing the much-awaited level of US$20,000 for the first time in its history. However, the rally didn’t stop there and continued all the way to US$23,776 as of 17 December.....
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TSX Up 0.49%; Metals and Mining, Tech Stocks Biggest Gainers
December 17, 2020 05:28 PM EST| By Team Kalkine MediaBenchmark Equity Index of Canada, the S&P/TSX Composite Index, settled higher for the third consecutive day and added ~86 points or 0.49% to 17,567.42 on Thursday, December 17. The index featured a dividend yield of 3.39% and traded at a Price-to...
5G and Blockchain: Paving Way For Crypto Mining
December 18, 2020 03:55 AM AEDT| By Team Kalkine Mediacy mining. In 2020, the world witnessed bitcoin breach unprecedented levels. The cryptocurrency crossed US$ 23000 for the first time in history in a dizzyingly rally on December 17. Ethereum, the second-largest cryptocurrency tha...
Trudeau Govt’s Plans To Make Canada Top Hydrogen Producer Released
December 17, 2020 11:19 AM EST| By Team Kalkine MediaCanada’s Natural Resources Minister Seamus O’Regan has just launched an “ambitious framework” which aims at making the country a top hydrogen producer in the world. The plan, called ‘Hydrogen Strategy for Canada’.....
Bitcoin Breaches US$ 23,000 For The First Time
December 17, 2020 11:18 AM EST| By Team Kalkine MediaBitcoin (USD) once again hit a new milestone, zooming past US$23,000 for the first time in history. The digital currency is up by over 220 per cent this year. Today’s rally is supported by large institutional buying on Wall Street an...
Record 1.4 Million Canadians Received EI Benefits In October
December 17, 2020 10:06 AM EST| By Team Kalkine MediaA record number of 1.4 million Canadians received Employment Insurance (EI) in October (seasonally adjusted basis), reported Statistics Canada. This is thrice the figure of 446,000 in February. EI beneficiaries had earlier peaked in June 2...
Canada’s October Wholesale Zooms Past Pre-Pandemic Levels
December 17, 2020 09:03 AM EST| By Team Kalkine MediaCanada’s wholesale figures in October was 3.3 per cent higher than pre-COVID-19 level in February, that is before the pandemic hit, reported Statistics Canada. Total sale of wholesale products grew to C$ 66.7 billion in Octob...
