Apple’s tax break yields $102 billion boon for shareholders

Apple’s tax break yields $102 billion boon for shareholders
SAN JOSE, Calif. — Apple’s tax break on its overseas profits is turning into a $102 billion boon for shareholders. The iPhone maker is raising its quarterly dividend by 16 per cent to 73 cents per share, matching the largest increase since Apple restored the payment under shareholder pressure six years ago. Raising the dividend by 10 cents per share will cost... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,618.93, up 11.05 points) Encana Corp. (TSX:ECA). Oil and gas. Up 16 cents, or one per cent, to $16.15 on 6.74 million shares. Chief executive Doug Suttles says the company will ramp up output from its U.S. and Canadian oil and gas fields this year after it reported... Read More

Poloz says Canadians owe $2 trillion as central bank mulls next rate hike

Poloz says Canadians owe $2 trillion as central bank mulls next rate hike
OTTAWA — Bank of Canada governor Stephen Poloz says Canadians have amassed a $2-trillion mountain of household debt that is now casting a big shadow over the timing of his next interest rate hike. In prepared remarks of a speech Tuesday in Yellowknife, Poloz said the pile has been growing for three decades in both absolute terms and when compared to the size... Read More

Calfrac revenue doubles as stronger oil prices drive U.S. fracking demand

Calfrac revenue doubles as stronger oil prices drive U.S. fracking demand
CALGARY — One of Canada’s biggest oilfield well-fracking companies is reporting more than doubling its first-quarter revenue compared with the same period last year. Calfrac Well Services says it had revenue of $583 million in the three months ended March 31, up 117 per cent over the $269 million it brought in a year earlier. It says its net income... Read More

Yahoo and parent Oath remove Canada-specific clause from terms of use

Yahoo and parent Oath remove Canada-specific clause from terms of use
TORONTO — The company that operates the Yahoo email service has changed its Canadian terms of service to remove some of the new wording that has upset users and prompted an investigation by the federal privacy watchdog. The Office of the Privacy Commissioner says the company known as Oath, which owns Yahoo, Huffington Post and other businesses, has decided one of... Read More

Changes could enable feds to spend $7B in budgeted money on other things: PBO

Changes could enable feds to spend $7B in budgeted money on other things: PBO
OTTAWA — A new report says the Trudeau government’s efforts to streamline the budgeting process means $7 billion in new spending commitments from its recent budget would be subject to far less parliamentary scrutiny — and could technically be spent on something other than the promised measures. The warning Tuesday by the federal budget watchdog focused on the wording of the government’s proposed changes to better align Ottawa’s budgetary spending plan with the... Read More

Retailer Roots plans to open two new stores in Washington, D.C., area

Retailer Roots plans to open two new stores in Washington, D.C., area
TORONTO — Clothing retailer Roots Corp. will open two new stores in the Washington, D.C., area in August as part of its U.S. and international expansion plans. “We believe the U.S. represents a minimum 100-store market opportunity for us,” said CEO Jim Gabel in a statement announcing the more than 270-square-metre (or more than 3,000-square-foot) shops. One store will be... Read More

Shopify reports Q1 loss, revenue up 68 per cent compared with a year ago

Shopify reports Q1 loss, revenue up 68 per cent compared with a year ago
OTTAWA — Shopify Inc. says it lost US$15.9 million in its latest quarter as its revenue grew 68 per cent compared with a year ago. The e-commerce software company, which keeps its books in U.S. dollars, says its loss amounted to 16 cents per share for the quarter ended March 31. That compared with a loss of $13.6 million or... Read More

Encana vows to grow production after Q1 output and income miss expectations

Encana vows to grow production after Q1 output and income miss expectations
CALGARY — The chief executive of Encana Corp. says the company will ramp up output from its U.S. and Canadian oil and gas fields this year after it reported first-quarter operating earnings and production that missed analyst expectations. “We are well-positioned to execute another year of strong growth for Encana as we prepare to cross the 400,000 boe (barrels of oil equivalent) per day milestone... Read More

Hydro One to review executive pay; Liberals to vote against compensation changes

Hydro One to review executive pay; Liberals to vote against compensation changes
TORONTO — Hydro One says it is reviewing its executive compensation arrangements at the urging of the Ontario Liberal government. The move comes weeks after Progressive Conservative Leader Doug Ford said he would fire the CEO and board of directors at the partially privatized utility if his party is elected on June 7. However, CEO Mayo Schmidt, who earned a $6.2-million salary last year,... Read More