February 7, 2019 – Canadian Investor

CNQ partners in ‘significant’ South Africa offshore oil and gas find

February 7, 2019 CanadianInvestor

CALGARY — Canadian Natural Resources Ltd. says its partner in an deep water offshore drilling project in South Africa is reporting a “significant gas condensate” discovery. The Calgary-based company best known for its Alberta oilsands production traded an ownership stake in the offshore exploration block known for its challenging sea conditions to Total S.A. in 2013, in return for the French... Read More

BCE Q4 net profit falls due to writedown, expenses; revenue above estimates

February 7, 2019 CanadianInvestor

MONTREAL — BCE Inc. had an eight per cent decline in fourth quarter net income last year, as an asset writedown and other expense items offset higher revenue for the telecommunications and media company. The owner of Bell Canada says its net income fell to $642 million in the three months ended Dec. 31 while net income attributable to common shareholders fell to $606... Read More

EU slashes its forecasts for economic growth

February 7, 2019 CanadianInvestor

FRANKFURT — European Union officials have slashed their growth forecast for the 19 countries that use the euro, saying even the lower estimate was vulnerable to “large uncertainty” from slowing growth in China and weakening global trade. The EU’s executive Commission cut the forecast for this year to 1.3 per cent from 1.9 per cent in their earlier forecast issued... Read More

AAA: Cold weather can cut electric car range over 40 per cent

February 7, 2019 CanadianInvestor

DETROIT — Cold temperatures can sap electric car batteries, temporarily reducing their range by more than 40 per cent when interior heaters are used, a new study found. The study of five electric vehicles by AAA also found that high temperatures can cut into battery range, but not nearly as much as the cold. The range returns to normal in... Read More

Heroux-Devtek beats profit expectations as acquisitions boost bottom line

February 7, 2019 CanadianInvestor

LONGUEUIL, Que. — Heroux-Devtek Inc. says it earned $7.4 million in its latest quarter as acquisitions boosted its revenue compared with a year ago. The aircraft parts company says its profit amounted to 20 cents per diluted share for the quarter ended Dec. 31 compared with a profit of $626,000 or two cents per share a year ago. On an... Read More

Have a repayment plan when borrowing using a home equity line of credit: experts

February 7, 2019 CanadianInvestor

OTTAWA — A home equity line of credit may be a cheap and easy way to borrow money to pay off your lingering holiday bills or consolidate high-interest debt, but experts caution that you need a plan to repay the money. They say it is all too easy to only make the minimum monthly payments to cover the interest and never... Read More

Is Canada getting wise to AI commercialization, or churning out more research?

February 7, 2019 CanadianInvestor

In May 2017, Uber announced it had hired a renowned University of Toronto professor to lead a Toronto-based team that develops autonomous car technology. The ride-hailing company also pledged $5 million for the university’s brand new Vector Institute for Artificial Intelligence. While the move drew praise from academics, others derided the notion that taxpayers should pay the salary of a professor whose intellectual property... Read More

Dislike: Facebook will appeal German data-use ruling

February 7, 2019 CanadianInvestor

BERLIN — German authorities ruled Thursday that Facebook should not be allowed to use customer data from other apps and websites to help target advertisements shown on their Facebook pages without their explicit consent, saying it was exploiting its dominant position in social media. The Federal Cartel Office, or Bundeskartellamt, said Facebook was guilty of “exploitative abuse” by forcing users... Read More

Twitter posts bigger 4Q profit, monthly user base slips

February 7, 2019 CanadianInvestor

NEW YORK — Twitter is reporting that revenue and profit and its daily user base all grew in the final three months of 2018. But its monthly user count slipped and guidance for the current quarter was below some expectations and shares fell in premarket trading. The San Francisco company disclosed its daily user base count for the first time,... Read More

Great-West Lifeco reports $710-million Q4 profit, raises dividend

February 7, 2019 CanadianInvestor

WINNIPEG — Great-West Lifeco Inc. raised its dividend as it reported a fourth-quarter profit of $710 million but fell short of expectations. The life insurer will now pay a quarterly dividend of 41.3 cents per share, up from 38.9 cents. The increased payment to shareholders came as Great-West reported its profit amounted to 72 cents per share for the quarter... Read More