Former Microsoft employee gets 2 years for embezzlement

Former Microsoft employee gets 2 years for embezzlement
SEATTLE — A former Microsoft sports marketing director has been sentenced to more than two years in prison after admitting he tried to embezzle $1.5 million — including $240,000 worth of Super Bowl tickets. U.S. District Judge Ricardo Martinez sentenced Jeff Tran to 28 months Friday. Tran, who oversaw Microsoft’s promotional relationship with the NFL, stole tickets to the 2016... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (16,382.20, up 74.47 points). Bombardier Inc. (TSX:BBD.B). Industrials. Down one cent, or 0.45 per cent, to $2.20 on 9.7 million shares. Encana Corp. (TSX:ECA). Energy. Up 18 cents, or 2.75 per cent, to $6.72 on 8.3 million shares. Enbridge Inc. (TSX:ENB). Energy. Up 72 cents, or 1.55... Read More

Canada’s main stock index edges up, loonie builds on recent high ahead of holiday

Canada’s main stock index edges up, loonie builds on recent high ahead of holiday
TORONTO — Canada’s main stock index is slightly higher ahead of the holiday weekend. The S&P/TSX composite index was up 8.38 points at 16,316.11 after 90 minutes of trading. In New York, the Dow Jones industrial average was up 26.01 points at 26,552.59. The S&P 500 index was up 6.05 points at 2,930.97, while the Nasdaq composite was up 15.18 points at 7,982.94.... Read More

SNC-Lavalin opts for corruption trial before judge alone

SNC-Lavalin opts for corruption trial before judge alone
MONTREAL — Lawyers representing SNC-Lavalin Group Inc. have opted for trial by judge alone in a corruption case that has loomed over the Montreal-based engineering giant. The company was ordered to stand trial last May. The Montreal-based firm is accused of paying $47.7 million in bribes to public officials in Libya between 2001 and 2011. SNC-Lavalin, its construction division and... Read More

Bank of Canada survey suggests business sentiment picked up after declining

Bank of Canada survey suggests business sentiment picked up after declining
OTTAWA — Business sentiment in Canada has picked up to show a slight improvement after falling earlier this year, according to a new survey by the Bank of Canada. The central bank said Friday that its summer business outlook survey, which measures corporate expectations, bounced back after falling into negative territory at the start the year. “The business outlook survey indicator edged up... Read More

Constellation Brands’ records US$106M loss in Q1 due to Canopy Growth

Constellation Brands’ records US$106M loss in Q1 due to Canopy Growth
VICTOR, N.Y. — Alcohol giant Constellation Brands Inc.’s latest quarterly revenues beat market expectations as its earnings were weighed down by a US$106−million loss in connection with its stake in Canopy Growth Corp. The U.S.−based maker of Corona beer and Kim Crawford wines posted net sales of US$2.1 billion for its financial first quarter of 2020, up from US$2.05 billion a year earlier and more than the US$2.07... Read More

US consumers increase spending a modest 0.4% in May

US consumers increase spending a modest 0.4% in May
WASHINGTON — Consumer spending increased 0.4% in May, a modest gain that suggests Americans remain confident enough about the economy’s outlook to keep shopping. The Commerce Department said Friday that incomes rose 0.5% and inflation remained tame, increasing just 1.5% in the past year. That’s far below the Federal Reserve’s target of 2%. Consumer confidence slipped this month but remains... Read More

Statistics Canada says real GDP grew 0.3 per cent in April, tops expectations

Statistics Canada says real GDP grew 0.3 per cent in April, tops expectations
OTTAWA — The Canadian economy grew more than expected in April, helped by the oil and gas sector. Statistics Canada says real gross domestic product grew 0.3 per cent in April, following a 0.5 per cent increase in March. Economists had expected growth of 0.1 per cent for April, according to Thomson Reuters Eikon. The mining, quarrying and oil and... Read More