Vancouver mayor asks staff to look at property tax increase scenarios as low as 0% for 2026
Vancouver's mayor has told city staff to draft a 2026 budget with no property tax increase – raising concerns over the potential for slashed services.
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Here's Why Top Analysts Are Becoming More Bullish on IBM Stock
Tech giant IBM (IBM) recently received two price target hikes as analysts grow more optimistic about the company's transformation and growth outlook. Indeed, Bank of America, led by five-star analyst Wamsi Mohan, raised its price target from $290 to $320, while maintaining a Buy rating. The firm noted that critics still view IBM as a 'value trap' based on its pre-2020 performance. However, it pointed out that the company has significantly evolved over the past five years. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In fact, the firm is focusing its software segment on higher-growth opportunities through strategic acquisitions and moving away from slower and higher-cost legacy businesses. According to the analyst, this shift now positions IBM to accelerate its revenue growth, which should cause the stock price to continue climbing. At the same time, Evercore ISI raised its price target on IBM from $275 to $315 and kept an Outperform rating. The firm, led by five-star analyst Amit Daryanani, expects IBM to maintain mid-to-high single-digit revenue growth and achieve double-digit growth in earnings per share and free cash flow in the coming years. This would allow IBM to potentially generate $16 to $18 in annual EPS within the next three years. Evercore also pointed to recent improvements in market sentiment and a recent expansion of the market's multiple as key reasons for its increased target. What Is the Target Price for IBM? Turning to Wall Street, analysts have a Moderate Buy consensus rating on IBM stock based on seven Buys, five Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average IBM price target of $267.54 per share implies 5.5% downside risk. See more IBM analyst ratings
Globe and Mail
34 minutes ago
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Competition law reforms promise larger financial penalties and more lawsuits
Breaking Canadian competition laws now carries stiffer financial penalties and an increased risk of class-action lawsuits after long-promised reforms took effect on Friday. The federal government unveiled updates to the Competition Act last June, with amendments that included significantly increasing the ability of businesses, consumers and public interest groups to seek cash compensation over issues that include misleading advertising. Law firm Osler, Hoskin & Harcourt LLP in a report called the changes 'the most dramatic expansion of private enforcement of Canada's competition law in a generation.' The federal government gave companies a year to adapt to the new regime, with the new regulations coming into force on June 20. 'These changes will have significant implications for businesses, as they open the door for increased litigation and class-like actions based on competition law claims,' said Julie Soloway, a partner and co-chair of the competition, antitrust and foreign investment group at law firm Blake, Cassels & Graydon LLP, in an email. Competition watchdog finalizes anti-greenwashing guidelines for businesses Prior to the reforms enacted on Friday, competition regulations limited the ability of individuals and companies to sue companies for damages for criminal acts such as price-fixing or bid-rigging. Having to prove criminal behaviour as part of a lawsuit meant only a handful of cases were every filed and most were settled or withdrawn. The new competition laws allow companies or consumers to win compensation equal to the value of the benefit derived from anti-competitive conduct, with the federal Competition Tribunal presiding over the hearings. 'Businesses now have greater ability and more reason to bring private cases about others' conduct, on top of complaining to the Competition Bureau,' Ms. Soloway said. In cases involving misleading advertising, consumers can claim damages equal to the amount they paid for the products involved in the marketing campaign. 'Any misleading advertising, including greenwashing, and agreements likely to prevent or lessen competition substantially can now be the subject of private applications,' Ms. Soloway said. The Canadian economy features a number of sectors dominated by a few large companies, including telecom, transportation, banking and grocery stores. Under the new competition regime, private litigants such as rival businesses can sue over competition issues, even if the Competition Bureau of Canada, the federal watchdog, gave its stamp of approval. The amendments could expose companies 'to tactical litigation and financial risks before the tribunal in respect of market conduct that the commissioner has declined to investigate or enforce,' a team of lawyers at Osler said in a recent report. Matthew Boswell: Competition is the solution to Canada's productivity crisis The new rules promoting private enforcement of competition laws are part of Commissioner of Competition Matthew Boswell's six-year campaign to increase economic efficiency by giving regulators, private entities and the quasi-judicial Competition Tribunal more power. 'Commissioner Boswell has been provided with long-sought tools, increased resources and a stronger enforcement hand,' the Osler lawyers said. 'With the enhanced role for private parties to contest market conduct, the Competition Bureau's enforcement burden will be reduced, potentially leaving the Commissioner freer to pursue investigations.'
CTV News
36 minutes ago
- CTV News
Applications open for new disability benefit program, payments start next month
Minister of Jobs and Families Patty Hajdu responds to a question during question period in the House of Commons in Ottawa on June 19, 2025. THE CANADIAN PRESS/ Patrick Doyle OTTAWA — Canada's new disability benefit — a program that provides eligible people with up to $200 a month — is now open for applications. The program is available to people with disabilities between the ages of 18 and 64 who already have been approved for the disability tax credit. The government says applications will be reviewed by June 30 and payments are set to begin in July. The payments are meant to supplement provincial and territorial programs and Jobs Minister Patty Hajdu said all provinces and territories except for Alberta have pledged not to claw back their own benefits. The benefit was part of the Trudeau Liberal government's promise to help lift people with disabilities out of poverty. Many advocates for people with disabilities have panned the benefit, saying it will do little to actually address poverty. Hajdu, whose new portfolio covers disabilities, said she has heard that criticism. 'I don't think that disability (benefit) is what a person needs to sustain themselves, and I don't think it was designed in that way,' she said in a recent interview. 'But it is a payment that allows for a fuller autonomy of people with disabilities in that it's not directed towards any specific thing. It is a benefit that people can use to supplement whatever other earnings or income that they have.' As part of the program, the government is providing funding to community organizations to help people who may need guidance on applying for the tax credit or the benefit program. This report by The Canadian Press was first published June 20, 2025. Sarah Ritchie, The Canadian Press
