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Yahoo
3 days ago
- Business
- Yahoo
Headwinds could still topple Canadian dollar
Karl Schamotta, chief market strategist of Corpay, talks with Financial Post's Larysa Harapyn about the trajectories of the Canadian dollar and the U.S. greenback. Sign in to access your portfolio
Time of India
3 days ago
- Business
- Time of India
Canada's growth engine stalls: Immigration curbs bring national population rise to zero
Canada's population growth has come to a halt as the latest government data revealed that only 20,107 people were added in the first quarter of the year, which reflects that there was no percentage change to quarterly population growth, compared with an average of 0.3% over the past decade, as reported by Financial Post. A Historic Slowdown The country's low population growth in the first quarter marks the slowest quarterly rate since comparable records began in 1946, apart from the pandemic year, according to the report. Canada's Temporary Residents No Longer Driving the Boom This comes after Canada's population expansion skyrocketed for years, fueled primarily by massive temporary residents, particularly foreign students, as per the Financial Post. They contributed to the nation expanding at rates rivalling many African nations after the pandemic, according to the report. But the government's move to crack down on immigration policies and attempts to cut back on temporary residents has stalled that momentum, as per the report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo Statistics Canada's data showed that the number of temporary residents dropped to about 3 million, which is 7.1% of the total population, compared with the record high of 7.4% last year, as reported by the Financial Post. This is the biggest decline in temporary residents for the country on record, as per the report. While, the biggest drop in non-permanent residents came from foreign students, with most decline occurring in Ontario and British Columbia, the two provinces recorded the largest quarterly losses in population since data collection began in 1951, Financial Post reported. Live Events ALSO READ: Caught on Flightradar: Did China secretly send weapons to Iran? 3 mysterious cargo planes spark global alarm Mark Carney's Immigration Approach According to the report, the latest population growth data comes after Canadian Prime Minister Mark Carney had promised to bring immigration rates to 'sustainable levels." While, his predecessor, Justin Trudeau, had already started curbing new arrivals last year, after post-pandemic influxes overwhelmed the country's capacity to absorb them, Financial Post reported. Asylum Claims Hit Record High However, the number of asylum claimants in Canada rose for a 13th consecutive quarter, reaching a record high of 470,029 people, as per the report. But to tackle this issue, Carney's government has introduced a bill with tougher rules on asylum claims, in addition to limits already in place on foreign students and workers, which lawmakers are set to debate the legislation on Wednesday, reported the Financial Post. FAQs Why has Canada's population growth slowed down? Because of tighter immigration rules, especially restrictions on temporary residents and foreign students. How many people were added to Canada's population this year? Only 20,107 in the first quarter, effectively zero percent growth.
Yahoo
3 days ago
- Business
- Yahoo
Aussie nurse loses savings in just 24 hours from ‘phone porting' scam — what it is and how to protect yourself
An Australian nurse had her life upended when scammers hijacked her phone number, drained her bank accounts and opened loans in her name — all within 24 hours. 'They were able to change my email, passwords,' Lee-Anne McLean told 9News. 'They broke into my social media and they opened bank loans.' And she doesn't know how they did it. 'I have security on my phone and my computer, so I'm not sure how they got all my personal information but I would really like to know.' Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Phone porting is a legitimate process that lets you keep your phone number when switching carriers, and it's typically protected by verification safeguards. But scammers have learned how to exploit it. 'To work around these protections, scammers will gather personal information about their target online, combing through social media posts, or purchasing information from cyber thieves or hackers,' according to the Federal Communications Commission (FCC). If fraudsters have the right combination of personal information — which could include your address, birth date, Social Security number, PINs and passwords — they 'may be able to con the victim's phone company into believing the request to port out the number is from the authorized account holder,' says the FCC. Once the fraudster convinces your phone company to transfer your number, your phone goes offline — and theirs lights up with your messages and calls, often allowing them to bypass safety measures like two-factor authentication. 'Once the scammer has access, they attempt to drain the victim's bank accounts,' says the FCC. 'In another variation, the scammers may attempt to sell or ransom back to the victim access to their social media accounts.' This happened to Associated Press reporter Fatima Hussein in 2024, who woke up one morning to discover she didn't have cell service. 'Using my home Wi-Fi connection, I checked my email and discovered a notification that $20,000 was being transferred from my credit card to an unfamiliar Discover Bank account,' she explained in an article for the Financial Post. Hussein said it took 10 days to get her number back from Cricket Wireless. 'And that wasn't until I told company representatives that I was writing a story about my experience,' she wrote in the Financial Post. During that time, fraudsters had accessed her account three times and transferred $19,000 from her credit card to the same unfamiliar account, even after freezing her credit and changing all her passwords. Bank of America was working to reverse the $19,000 transfer. Neither McLean nor Hussein know how fraudsters got their information. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it In 2024 alone, SIM swapping scams led to nearly $26 million in reported losses, according to the FBI — and the real figure may be even higher, since many victims don't report. To minimize the risk, start by asking your wireless provider about port-out authorization. 'Every major wireless has some sort of additional security for accounts or for port-out authorization that customers can set up, like a unique pin, or add verification questions, which will make it more difficult for someone to port out your phone,' according to the Better Business Bureau (BBB). Be on the lookout for phishing scams, which can lead to phone porting scams. A phishing scam takes place when fraudsters try to trick you into giving away personal information, typically by posing as a legitimate individual or business (such as an HR manager or your bank). They may contact you via text, email or phone. Never give away any personal information to a call or email from an unknown contact. Hang up (or ignore the email) and contact the individual or business with a trusted phone number or even an in-person visit. 'Typically, loss of service on your device — your phone going dark or only allowing 911 calls — is the first sign this has happened,' according to the FCC. If this has happened to you, time is of the essence. Contact your phone company and bank, and place a fraud alert on your credit reports. Aside from filing a police report, you can also file a complaint with the FCC. But for victims like McLean or Hussein, recovery can be a long, difficult process. 'My days are basically taken up by trying to prove who I am again,' McLean told 9News, 'and piece by piece trying to put my life back together.' Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
14-06-2025
- Business
- Yahoo
The week in stocks: Dollarama still cashing in and silver gets buffed up
Every weekend, the Financial Post breaks down the most interesting developments in this week's world of investing, from top performers to surprising analyst calls and stocks you should have on your radar. Here's this week's edition. Shares of Dollarama Inc. (DOL) have been unstoppable since the early days of the pandemic when inflation took off and price-shocked consumers turned to dollar stores for better prices on everyday household items. Since mid-March 2020, when COVID hit, the stock is up 438 per cent, including a 10 per cent leap on Wednesday when the discount retailer released earnings that beat analysts' estimates. The report showed that consumers have continued to flock to Dollarama stores despite inflation slowing. Earnings particulars included a 27 per cent increase in profit and an 8.2 per cent increase in sales in the first quarter. Still, the company's chief financial officer said the Canadian consumer appears 'fragile' and that could pose a challenge for the Montreal-based chain. The question now: Where does Dollarama go from here? 'We believe DOL (Dollarama) has a clear pathway to deliver value for shareholders in the short, medium and long term,' Irene Nattel, an analyst with RBC Dominion Securities, said in a note post-earnings. She cited tailwinds for the stock, including a target to increase the number of stores in Canada to 2,200 by 2034, 'long-term growth opportunity in Latin America' and an agreement to purchase Australia-based discount chain The Reject Shop. 'Guidance points to another solid year of performance tempered by caution around (the) evolution of consumer spending and probable weakening economic backdrop as tariffs take a toll on economic activity,' Nattel said. Analysts who follow the stock raised their price targets following the company's earnings release and Nattel has a target price of $207, up from $198 at the end of May, according to Bloomberg. Dollarama closed Friday at $193.74. Silver has caught the eye of analysts at National Bank of Canada. 'We have an optimistic outlook on the price of silver, which supports, but isn't the only reason, we are also optimistic about silver-focused companies,' analyst Alex Terentiew and associate Marc Ferrari said in a note. Silver hasn't posted the gains gold has since investors flocked to bullion to offset the potential inflationary effects of Donald Trump's trade war. Still, silver is up 12 per cent versus 24 per cent for gold since Trump's election win. National Bank's research team said it has expanded the number of 'silver focused' stocks it tracks, adding Coeur Mining Inc. (CDE) and Endeavour Silver Corp. (EDR) to their coverage, which also includes First Majestic Silver Corp. (AG), Hecla Mining Co. (HL) and Highlander Silver Corp. (HSLV). Terentiew and Ferrari see Endeavour 'as the most undervalued and highest growth silver producer in our coverage, although it's also the company with the most to prove as it ramps up production at its newest mine, Terronera (in Mexico), and also integrates the newly acquired Kolpa mine (in Peru) into its portfolio.' Their target price for Endeavour is $9. The stock closed Friday at $6.55. Several oil companies appear to have plans for share buybacks this year, according to RBC Capital Markets. Highlights from the RBC Global Power, Energy and Infrastructure Conference earlier this month pointed to share buybacks coming down the pipeline from a slew of major oilpatch companies. This includes Suncor Energy Inc. (SU), which is on tap to distribute nearly 100 per cent of its excess free funds flow (post dividends) to share repurchases,' Greg Pardy, head of global energy research at RBC Dominion Securities, said in a note following the conference. Other companies where buybacks or dividend increases are expected include Vermilion Energy Inc. (VET), Athabasca Oil Corp. (ATH) and Canadian Natural Resources Ltd. (CNQ). In CNRL's case, the company said it will direct 60 per cent of free cash flow (minus capital and dividends) to buybacks and 40 per cent to reduce net debt. All these stocks have an outperform rating from Pardy and crew. Here are their price targets: Suncor: $65. Suncor closed Friday at $55.67. Vermilion: $14. Vermilion closed Friday at $11.19. Athabasca: $6.50. Athbasca closed Friday at $6.08. CNRL: $64. CNRL closed Friday at $45.96. Donald Trump has been in the driver's seat as far as markets are concerned since his inauguration on Jan. 20. Some stocks, such as Elon Musk's Telsa Inc., have been on a roller-coaster the entire time, subject to the president's whims. With his term nearing the five-month mark, the Financial Post started to wonder which large Canadian companies have come out on top in the early stages of Trump's second stint in the Oval Office. We screened for publicly listed companies on the S&P/TSX Composite index with a market capitalization of at least $20 billion and here's what we got for the Top 20 based on price return from Jan. 20 to June 11. For reference, the S&P/TSX composite index has returned 5.3 per cent during the same period. Wheaton Precious Metals Corp. (WPM): 43.5% Kinross Gold Corp. (K): 34.4% Dollarama Inc. (DOL): 30.9% Agnico Eagle Mines Ltd. (AEM): 29.1% George Weston Ltd. (WN): 23.5% Loblaw Cos. Ltd. (L): 23.4% Franco-Nevada Corp. (FNV): 21.5% Intact Financial Corp. (IFC): 20.8 Brookfield Renewable Partners LP (BEP-U): 20.2% Power Corp. (POW): 18.9% Barrick Mining Corp. (ABX): 18.1% Cameco Corp. (CCO): 17.5% Toronto-Dominion Bank (TD): 17.5% Metro Inc. (MRU): 16.5% Fairfax Financial Holdings Ltd. (FFH): 16.4% Thomson Reuters Corp. (TRI): 13.7% GFL Environmental Inc. subordinate (GFL): 13.4% RB Global Inc. (RBA): 12.1% Constellation Software Inc. (CSU): 12.1% Hydro One Ltd. (H): 11.6% The week in stocks: Lululemon gets stretched and is Tesla a TACO trade candidate? Being an armchair hockey critic is like judging investment performance from the sidelines • Email: gmvsuhanic@ Are you an investor looking for stock ideas and market insight? Sign up for the weekly FP Investor Newsletter here to get the best of the Financial Post's investing news, analysis and expert commentary, straight to your inbox. Sign in to access your portfolio
Yahoo
06-06-2025
- Business
- Yahoo
What Tesla investors need to know about Trump and Musk's mind-blowing meltdown
The spectacular falling out between U.S. President Donald Trump and the world's richest person, Elon Musk, is reverberating across global markets this morning. The tit-for-tat feud, which has taken place via snarky social media posts and Oval Office camera interviews, sent shares of Musk's electric vehicle maker Tesla Inc. plunging 14 per cent on Thursday, wiping US$34 billion off Musk's net worth and rattling investors. Here, Financial Post explains what's going on and what it means for Tesla shareholders. The alliance between the two wealthy, powerful men started well in July when Musk formally backed Trump. Musk shelled out more than US$250 million to help raise Trump to power last year, flying out to Mar-a-Lago for weekend stays and donning his black 'Make America Great Again (MAGA)' cap at rallies. After the election, Trump appointed Musk to co-lead a new 'Department of Government Efficiency,' or DOGE, in a move to cut 'wasteful' federal spending by cutting government programs and grants and slashing the federal workforce. Investors bet that Musk's close relationship with the White House would give his companies an edge. However, Musk's tenure as 'special employee' to the White House damaged his public profile and Tesla stocks, with a New York Times piece alleging major drug use during his time on Trump's campaign trail (which Musk has denied), coupled with reports of clashes with other administration officials. Then came Trump's 'big, beautiful' budget bill, which included extensive tax cuts and an increase to the national debt ceiling … as well as cuts to electric vehicle credits. Musk departed the White House last week, a day after criticizing the budget bill. At the time, there appeared to be little rancor between the two men. 'Elon's service to America has been without comparison in modern history,' Trump said last week when he gifted the tech billionaire (who sported a black eye at the time) a golden key emblazoned with the White House insignia. But bad blood spilled over soon after in a series of tweets on X, with Musk blasting the president's massive spending bill, calling it a 'disgusting abomination,' while Trump responded later saying he was 'surprised' and 'disappointed' by the attacks. On Thursday, Musk claimed on X that without his involvement, Trump would have lost the election. 'Such ingratitude,' he wrote in the social media post. He followed this up with an even more inflammatory post suggesting that Trump's name appears in records of the investigation into convicted sex offender Jeffrey Epstein and that the records 'have not been made public' to conceal this. Trump replied in his own social media posts that 'Elon was 'wearing thin,' I asked him to leave,' and threatened to cut off government contracts for Musk's companies. Trump and Musk had reportedly scheduled a call for later in the day on Friday, but the president told ABC News he was no longer interested in speaking to Musk, describing him as 'the man who has lost his mind.' Meanwhile, shares of the electric vehicle giant plunged a further 14 per cent on Thursday, bringing the total decline of the stock this year to 30 per cent. This was followed by signs of a rebound during Friday morning trading after Musk indicated on X that he was open to cooling tensions. The cuts to the electric vehicle tax credits in Trump's spending bill, which were implemented to incentivize EV purchases for middle and lower-income families), could dramatically impact the pace of EV adoption. Musk had previously supported Trump's plans to eliminate the $7,500 tax credit, suggesting in an earnings call last year that it would be 'devastating' for Tesla's competitors and only 'slightly' problematic for Tesla, potentially even benefiting his company in the long term. However, the move could cost Tesla US$1.2 billion, according to JPMorgan Chase & Co., even as Tesla's business has already faltered amid declining sales as consumers began boycotting the company due to Musk's politics. Trump also threatened to cancel Musk's government contracts with his private internet company Starlink, a subsidiary of his rocket company SpaceX to save money in the budget on Thursday. 'This just gets better and better,' Musk responded on X. 'Go ahead, make my day.' However, this move too could cost Musk billions and perhaps indirectly hurt Tesla's stock and impact investors. The potential of having an enemy in the White House could also cause long-term headaches for the EV maker. A Washington Post analysis published in February estimated Musk and his businesses have received at least US$38 billion in government contracts, loans, subsidies and tax credits over more than two decades. Musk's companies garnered at least $6.3 billion in commitments from state and local governments in 2024 alone, the highest total to date, the report stated. • Email: slouis@ Sign in to access your portfolio
