Earnings News

Workers guide a metal plate as it is carried by a crane at a construction site in central Tokyo

Risky business as Canadian cities turn to neighbourhood levies

Increasingly, Canadian cities are turning to a relatively new type of financing that banks on a shiny new piece of city infrastructure to bring in developers to an area otherwise struggling to attract investment. Edmonton and Winnipeg are already doing it and it could be used to finance massive development in Calgary and Toronto. If done right, the levies can pay off big time for cities and deve…

  • Future Shop closure has cost Best Buy … CBC - Thu, 21 May, 2015

    Electronics retailer Best Buy said closing half of its Future Shop stores in Canada and converting the rest into Best Buys has cost $191 million so far, and could cost … More »Future Shop closure has cost Best Buy …

    Electronics retailer Best Buy said closing half of its Future Shop stores in Canada and converting the rest into Best Buys has cost $191 million so far, and could cost another $90 million down the line. The U.S.-based chain revealed that data in its quarterly earnings report before stock markets opened on Thursday. In …

  • Open Text fourth-quarter adjusted profit … Reuters - Wed, 20 May, 2015

    (Reuters) - Canadian business software maker Open Text Corp forecast current-quarter adjusted earnings per share way below average Wall Street estimate, anticipating … More »Open Text fourth-quarter adjusted profit …

    (Reuters) - Canadian business software maker Open Text Corp forecast current-quarter adjusted earnings per share way below average Wall Street estimate, anticipating negative impact from a strong dollar. The Waterloo, Ontario-based company also said it would cut its workforce by about 5 percent as it focuses on its cloud …

  • Women walk past the Sears department store at Fair Oaks Mall in Fairfax
    Sears Canada loss narrows as same-store … Reuters - Wed, 20 May, 2015

    (Reuters) - Struggling department store chain Sears Canada Inc reported a smaller first-quarter loss as decline in its same-store sales was the slowest in five quarters. … More »Sears Canada loss narrows as same-store …

    Women walk past the Sears department store at Fair Oaks Mall in Fairfax

    (Reuters) - Struggling department store chain Sears Canada Inc reported a smaller first-quarter loss as decline in its same-store sales was the slowest in five quarters. Sears Canada, whose largest shareholder is Sears Holdings Corp Chief Executive Eddie Lampert and his hedge fund ESL Investments Inc, said on Wednesday …

  • A Microsoft representative shows a smartphone with Windows 10 operating system at the CeBIT trade fair in Hanover in this file photo
    Apple, Android app makers cool to Microsoft … Reuters - Wed, 20 May, 2015

    By Bill Rigby SEATTLE (Reuters) - Microsoft's plan to make its new version of Windows a mobile hit by letting it accept tweaked Apple and Android apps has met an obstacle: … More »Apple, Android app makers cool to Microsoft …

    A Microsoft representative shows a smartphone with Windows 10 operating system at the CeBIT trade fair in Hanover in this file photo

    By Bill Rigby SEATTLE (Reuters) - Microsoft's plan to make its new version of Windows a mobile hit by letting it accept tweaked Apple and Android apps has met an obstacle: some of the software developers the company needs to woo just aren't interested. Windows phones accounted for just 3 percent of global smartphone sales …

  • Shopify raises stock price to $16 ahead of IPO
    Shopify raises stock price to $16 ahead … CBC - Tue, 19 May, 2015

    Ottawa-based Shopify Inc. has lifted the amount of money it expects to raise in an IPO later this week to $141.7 million US. The stock price has been raised from $12-14 … More »Shopify raises stock price to $16 ahead …

    Shopify raises stock price to $16 ahead of IPO

    Ottawa-based Shopify Inc. has lifted the amount of money it expects to raise in an IPO later this week to $141.7 million US. The stock price has been raised from $12-14 and Shopify expects to sell more shares. The new filing says Shopify generated annualized revenue of about $1,000 for each of its 162,261 merchants as …

  • Vodafone branding is seen outside a retail store in London
    Vodafone's return to growth hints … Reuters - Tue, 19 May, 2015

    By Kate Holton LONDON (Reuters) - Britain's Vodafone posted a rise in quarterly sales for the first time in nearly three years on Tuesday in the clearest sign yet that … More »Vodafone's return to growth hints …

    Vodafone branding is seen outside a retail store in London

    By Kate Holton LONDON (Reuters) - Britain's Vodafone posted a rise in quarterly sales for the first time in nearly three years on Tuesday in the clearest sign yet that Europe's mobile market is edging towards recovery. Vodafone, which has 446 million mobile customers in countries ranging from Albania to Ireland, Qatar, …

  • Greek PM Tsipras delivers a speech during the Economist Conference on "Europe: The comeback, Greece: How resilient?" in Athens
    Greece nears debt deal in May as money … Reuters - Mon, 18 May, 2015

    By Lefteris Papadimas and George Georgiopoulos ATHENS (Reuters) - Greece is near a cash-for-reforms deal with its euro zone partners and the International Monetary Fund … More »Greece nears debt deal in May as money …

    Greek PM Tsipras delivers a speech during the Economist Conference on "Europe: The comeback, Greece: How resilient?" in Athens

    By Lefteris Papadimas and George Georgiopoulos ATHENS (Reuters) - Greece is near a cash-for-reforms deal with its euro zone partners and the International Monetary Fund that would help it meet debt repayments next month, the country's finance minister said on Monday, as worries persist over a possible bankruptcy. Athens …

  • Property management software maker AppFolio … Reuters - Mon, 18 May, 2015

    Morgan Stanley, Credit Suisse, Pacific Crest Securities and William Blair are underwriters to the IPO. The California-based company, whose investors include BV Capital … More »Property management software maker AppFolio …

    Morgan Stanley, Credit Suisse, Pacific Crest Securities and William Blair are underwriters to the IPO. The California-based company, whose investors include BV Capital and IGSB, provides software to small and medium-sized property managers and also offers legal software for small law firms under the brand "MyCase".

  • RRIF rule changes: Should Ottawa have gone even further?
    RRIF rule changes: Should Ottawa have … CBC - Mon, 18 May, 2015

    With an election just a few months away, the recent federal budget clearly had one eye on eliminating the deficit and one eye on Canada's seniors who — no surprise here … More »RRIF rule changes: Should Ottawa have …

    RRIF rule changes: Should Ottawa have gone even further?

    With an election just a few months away, the recent federal budget clearly had one eye on eliminating the deficit and one eye on Canada's seniors who — no surprise here — go to the polls in large numbers. From a personal finance perspective, much of the reaction was centred on Ottawa's decision to almost double the annual …

  • Taxpayer-supported ad on-message with … CBC - Mon, 18 May, 2015

    When focus groups rounded up by the federal government viewed a recent Finance Department test ad promoting tax benefits, they found it short on detail. Critics say … More »Taxpayer-supported ad on-message with …

    When focus groups rounded up by the federal government viewed a recent Finance Department test ad promoting tax benefits, they found it short on detail. Critics say this bolsters their case that Stephen Harper's Conservatives are using taxpayer-funded government advertising to promote their party and win votes in the upcoming …

  • People watch tv screen with Andrzej Duda talking during his first face-to-face televised debate with Poland's President Komorowski at the bar in Warsaw
    Polish challenger Duda calls for new … Reuters - Sun, 17 May, 2015

    By Marcin Goettig WARSAW (Reuters) - Polish presidential candidate Andrzej Duda said on Sunday Poland should introduce new taxes on banks and large supermarket networks … More »Polish challenger Duda calls for new …

    People watch tv screen with Andrzej Duda talking during his first face-to-face televised debate with Poland's President Komorowski at the bar in Warsaw

    By Marcin Goettig WARSAW (Reuters) - Polish presidential candidate Andrzej Duda said on Sunday Poland should introduce new taxes on banks and large supermarket networks to protect Polish businesses. Duda won the first round of presidential elections last week and polls give him a lead ahead of incumbent Bronislaw Komorowski …

  • Bombardier job cuts, diamond daze & … CBC - Fri, 15 May, 2015

    Michener Award-winning journallist Rita Celli had a great series of articles on Ontario's murky diamond industry this week that may have flown under your radar. You … More »Bombardier job cuts, diamond daze & …

    Michener Award-winning journallist Rita Celli had a great series of articles on Ontario's murky diamond industry this week that may have flown under your radar. You can check out her stories here, here, here, here and here but our favourite was her detective work in digging up just how much, exactly, the government of …

  • Worker cleans an exterior of a building next to a KFC restaurant in Beijing
    Yum China spinoff becoming more probable: … Reuters - Fri, 15 May, 2015

    (Reuters) - The likelihood is growing that Yum Brands Inc will spin off its China business, J.P. Morgan said in a client note, upgrading the company's shares to "overweight" … More »Yum China spinoff becoming more probable: …

    Worker cleans an exterior of a building next to a KFC restaurant in Beijing

    (Reuters) - The likelihood is growing that Yum Brands Inc will spin off its China business, J.P. Morgan said in a client note, upgrading the company's shares to "overweight" from "neutral". Yum, owner of the KFC and Pizza Hut brands, gets about a third of its operating income and half of its revenue from China, where …

  • Canadian Tire Corporation CEO Medline speaks during their annual general meeting for shareholders in Toronto
    Canadian Tire profit falls 3 percen … Reuters - Thu, 14 May, 2015

    (Reuters) - Retailer Canadian Tire Corp reported a 3 percent fall in first-quarter profit, hurt by higher taxes. Net income attributable to the company fell to C$68.5 … More »Canadian Tire profit falls 3 percen …

    Canadian Tire Corporation CEO Medline speaks during their annual general meeting for shareholders in Toronto

    (Reuters) - Retailer Canadian Tire Corp reported a 3 percent fall in first-quarter profit, hurt by higher taxes. Net income attributable to the company fell to C$68.5 million ($57.31 million) in the quarter ended April 4 from C$70.6 million a year earlier. Earnings per share were unchanged at 88 Canadian cents. The Toronto-based …

  • Nick Woodman, GoPro CEO, repays $229M … CBC - Thu, 14 May, 2015

    The founder of GoPro gave almost five million of his own shares back to the San Mateo, Calif.-based company this week — to fulfil a commitment he made years ago to its … More »Nick Woodman, GoPro CEO, repays $229M …

    The founder of GoPro gave almost five million of his own shares back to the San Mateo, Calif.-based company this week — to fulfil a commitment he made years ago to its first employee. More than a decade ago, Nick Woodman had promised to give Neil Dana 10 per cent of any money he made from selling the camera company he …

  • By James Regan SYDNEY (Reuters) - Papua New Guinea's prime minister on Thursday said he was shocked by an announcement from former colonial ruler Australia that it might open a diplomatic mission in the restive island of Bougainville, where a referendum on independence is scheduled. Polls opened on Monday in the copper-rich …

  • Facebook has unveiled a long-rumoured program called Instant Articles that will allow major web publishers like the Guardian, the New York Times, National Geographic and others to produce content directly on the social media platform without using the intermediary of their own websites. The new program takes content from …