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Clothing retailer Le Château (TSXV:CTU) to wind down operations
October 24, 2020 04:58 AM EDT| By Team Kalkine MediaThe Montreal-based retailer has sought protection from creditors under Companies' Creditors Arrangement Act (CCAA) on Friday to liquidate of its assets and shut down the business. If approved, Le Château will obtain interim financing...
Chorus Aviation (TSX:CHR) stocks up 34% amid takeover bid
October 24, 2020 04:51 AM EDT| By Team Kalkine MediaThe aviation holding company has received a third-party acquisition proposal, it announced in a statement on Friday. However, Chorus warned that there’s “no assurance” that the transaction will be finalized. The company...
Canada may lose 0.5 million jobs due to travel restrictions in 2020
October 24, 2020 04:47 AM EDT| By Team Kalkine MediaCovid-caused travel limitations may cost the nation 0.4 million to 0.5 million jobs this year, said Statistics Canada. Lowered travel is likely to wipe off C$37.1 billion or 1.7 per cent of Canada’s economic output. Spending in tour...
COVID-19 Patients fill over 40% of ICU beds in Paris, an alarm bell for Europe?
October 24, 2020 02:08 AM EDT| By Team Kalkine MediaThe ongoing COVID-19 pandemic caused by the novel coronavirus (SARS-CoV-2) continues to wreak havoc all over the world. According to the WHO, there have been 41.57 million confirmed cases of COVID-19, including 1,134,940 fatalities across the world.....
TSX Composite Edges Higher On Strength Of Energy & Telecom Stocks
October 23, 2020 10:29 PM EDT| By Team Kalkine MediaThe broader index of the Canadian market, S&P/TSX Composite Index, added 24.72 points or 0.15% to 16, 304.08 on Friday, buoyed by gains in the energy and telecommunication sectors. The leading momentum indicator, the moving average convergence/d...
Alberta To End Monthly Oil Production Limits
October 23, 2020 01:59 PM EDT| By Team Kalkine MediaThe move is aimed at allowing oil producers use the available pipeline capacity as demand for heavy oil poised to rise, said the provincial government. The province will extend its regulatory authority to restrict oil production until Dece...
Loblaw (TSX:L) Slaps Fees On Suppliers To Fund Online & Store Upgrades
October 23, 2020 01:59 PM EDT| By Team Kalkine MediaThe Canadian grocery chain is the second retailer after Walmart to impose this fees. Food producers will now have to shell out 1.2 per cent more on the cost of goods sold to get their products on the shelves of Loblaw-owned supermarkets....
Canfor (TSX:CFP) Stock Surges After Reporting Q3 Profits
October 23, 2020 01:58 PM EDT| By Team Kalkine MediaCanfor Corp. says its net profit grew in the third quarter in the wake of record-high lumber prices. The Vancouver-based forest goods firm reported revenue of C$ 218.1 million or $1.74 per share in the third quarter ended Sept. 30...
Canada Sets-Up C$100M Fund For Cutting-Edge Energy GHG Emissions
October 23, 2020 01:58 PM EDT| By Team Kalkine MediaA fund will support the commercialization of new items from the country’s oil and gas industry and help curtail its environmental impact, media reports said. Funds will be offered over four years to the Clean Resource Inn...
IPO Buzz: Montreal Energy Drink Company Guru To List On TSX
October 23, 2020 01:57 PM EDT| By Team Kalkine MediaThe company have been valued at C$160 million, as per media reports. Guru reportedly aims to raise C$ 34.5 million from the initial public offering (IPO). Guru has been selling its canned drinks for the last two decades and promotes itsel...
Drone Stocks Fly As E-Commerce Logistics Scale Up
October 23, 2020 01:51 PM EDT| By Hina ChowdharySummary To resolve day-to-day impediments in logistics, a new stream of customer order distribution and delivery is emerging – Drone logistics. Global drone and logistics market is expected to grow at a CAGR of 16 per cent from 2020 to 2.....
Air Canada (TSX:AC), WestJet & Other Airlines Find Hope In Government Bailout Plan
October 23, 2020 11:49 AM EDT| By Kunal SawhneySummary The Canadian government has said it will be “exploring all possible options” to support airlines drowning in pandemic-related troubles. Reports indicate that the government is mulling a bailout package release for the indust.....
CloudMD (TSXV:DOC) & Jack Nathan Medical (TSXV:JNH): 2 Emerging Health Stocks On TXSV
October 23, 2020 10:04 AM EDT| By Team Kalkine MediaStocks of health and medical care companies such as CloudMD Software & Services Inc (TSXV: DOC) and Jack Nathan Medical Corp (TSXV:JNH) have been on the rise in the wake of the coronavirus pandemic. Both these emerging health care providers are.....
Tesla to ship cars from Shanghai plant, improve shipment time for Asia and EU
October 23, 2020 04:30 AM EDT| By Edita IvancevicThe futuristic-car maker Tesla (NASDAQ:TSLA) has new plans in mind for the local supply of its vehicles. Tesla CEO Elon Musk introduced a new project for car shipments directly from the Shanghai ‘Gigafactory’. With this move, Mr Musk w.....
Tesla smashes market estimates in Q3; General Motors reveals EV plans
October 23, 2020 03:43 AM EDT| By Team Kalkine MediaTesla, Inc. came up with another banger in the September quarter show, which was labelled as the ‘best quarter in history’ by Elon Musk. But optimists believe that best is yet to come, at least from new factories in two other continents.....
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Gilead (NASDAQ:GILD) Share Price Moves up after FDA Approves Veklury® (remdesivir)
October 23, 2020 12:59 AM EDT| By Team Kalkine MediaOn 22 October 2020, the US FDA gave the green light to Gilead’s Veklury® (remdesivir) making the antiviral drug the first officially approved treatment for COVID-19, an infection caused by the novel coronavirus, SARS-CoV-2. The shar.....
Goldman Sachs to Pay US$2 billion over Malaysia’s 1MDB scandal
October 23, 2020 12:02 AM EDT| By Team Kalkine MediaNew York’s leading global investment bank, Goldman Sachs has agreed to a much-anticipated settlement with the US Justice Department and would pay over US$2 billion for its role in Malaysia’s 1MDB scandal. It would let Goldman Sachs avoi.....
TSX Wraps Up On A High After 3 Days Of Losses
October 22, 2020 10:14 PM EDT| By Team Kalkine MediaAfter three consecutive days of losses, the broader equity gauge of the Canadian Market, S&P/TSX Composite, gained 49 points or 0.30% to settle at 16,279.36 on Thursday. At the closing bell, the TSX Composite featured a dividend yield of 3.59% an...
Rogers Communications (TSX:RCI) Reports 14% Decline In Net Income For Q3 FY20
October 22, 2020 12:51 PM EDT| By Team Kalkine MediaThe telecom firm posted a 5 per cent YoY drop in its total service revenue in its third quarter earnings ended September 30, 2020. Net income of C$ 548 million in Q3 2020 was down 14 per cent from C$ 622 million in Q3 2019. Adjusted EBITDA amount.....
Short-Video App Quibi Quits In 6 Months
October 22, 2020 12:50 PM EDT| By Team Kalkine MediaByte-video app Quibi is shutting down operations after failing to entice customers. The platform was aimed to audiences streaming content on their phones. The app raised US$1.75 billion from Disney, NBCUniversal and.....
