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CANADA FX DEBT-C$ adds to weekly gain as investors cheer U.S. inflation data
  + stars: | 2021-06-25 | by ( Reuters Staff | ) sentiment -0.99   time to read: +1 min
The loonie was trading 0.2% higher at 1.2294 to the greenback, or 81.34 U.S. cents. It was on track to gain 1.4% for the week, after four consecutive weekly declines. Wall Street rose and the U.S. dollar fell against a basket of major currencies as underlying inflation in the United States rose at a slower-than-expected rate in May. Investors have been struggling to interpret signals from the Fed about how hot it is willing to let inflation run. The 10-year eased about half a basis point to 1.410% but held well above the 3-1/2-month low it hit last Friday at 1.364%.
Persons: Fergal Smith, Jonathan Oatis Organizations: U.S, Federal, U.S ., Investors Locations: TORONTO, United States
June 25 (Reuters) - Canada’s main stock index fell on Friday, with BlackBerry Ltd leading declines following quarterly results, but the index was set for weekly gains. * At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 9.35 points, or 0.05%, at 20,205.77. * Canadian security software supplier Blackberry fell more than 2% in early trading, even after beating Wall Street estimates for quarterly revenue on Thursday. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Devika Syamnath)
Persons: Shreyashi Sanyal, Devika Syamnath Organizations: BlackBerry, Toronto Stock, Blackberry, Wall Locations: Bengaluru
That's how Los Angeles Times owner Patrick Soon-Shiong summed up the "cultural vision" that he shares with his new editor Kevin Merida. And compete for people who would not have thought about the LA Times before." The biotech billionaire acquired the LA Times three years ago. The WSJ reported in February that he was "exploring a sale of the Los Angeles Times." Who is the LA Times for?
Persons: Patrick Soon, Shiong, Kevin Merida, hasn't, Merida, I've, HBO Max Organizations: CNN, Los Angeles Times, Times, American, LA Times, Netflix, Google, Facebook, Big Tech, HBO Locations: Merida, California, Asia, Mexico, Canada
"Mining machines are selling like scrap metal." The local government of Sichuan, China's No.2 bitcoin mining centre after Xinjiang, issued a ban on cryptomining a week ago. Analysts say Beijing is also worried about potential competition for the digital yuan and that the power-hungry business of bitcoin mining could damage the environment. China's ban on bitcoin mining may see up to 90% of all mining in the country go offline, according to an estimate by Adam James, a senior editor at OKEx Insights. BIT Mining said on Monday that it had successfully delivered its first batch of 320 mining machines to Kazakhstan.
Persons: Dado Ruvic, Mike Huang, Liu Hongfei, Adam James, Nishant Sharma, Sharma, Winston Ma, Xianfeng Yang, Huang Dezhi, Huang, Sun, Wang Weifeng, Samuel Shen, Andrew Galbraith, Vidya Ranganathan, Raju Gopalakrishnan Organizations: REUTERS, State Council, Analysts, Communist Party, BlocksBridge Consulting, NYU Law, China's, BIT Mining, Thomson Locations: SHANGHAI, Texas, Kazakhstan, Sichuan, China's, Xinjiang, cryptocurrencies, Beijing, Inner Mongolia, Yunnan, China, Bitmain, United States, Canada, Australia, Russia, Indonesia, Guangdong
China's Bitmain suspends sales of cryptomining machines after Beijing's mining ban
  + stars: | 2021-06-25 | by ( ) sentiment -1.00   time to read: +1 min
Bitcoin mining computers are pictured in Bitmain's mining farm near Keflavik, Iceland, June 4, 2016. REUTERS/Jemima KellySHANGHAI, June 25 (Reuters) - Bitmain, China's biggest maker of cryptocurrency mining machines, said it had suspended sales of its products in the spot market to help ease selling pressure following Beijing's ban on bitcoin mining. read moreFollowing the ban, many Chinese miners are selling machines and exiting the business, or shipping machines overseas. "(Overseas) mining sites are not built overnight, and selling pressure is huge in the secondary market," Bitmain said in a statement. Bitmain said overseas markets where it and Chinese miners are seeking cheap electricity also include Belarus, Sweden, Norway, Angola and Congo.
Persons: Jemima Kelly SHANGHAI, Bitmain, Samuel Shen, Andrew Galbraith, Shri Navaratnam Organizations: REUTERS, China's, Council, Thomson Locations: Keflavik, Iceland, United States, Canada, Australia, Russia, Kazakhstan, Indonesia, China's, Inner Mongolia, Xinjiang, Yunnan, Sichuan, Belarus, Sweden, Norway, Angola, Congo
Iran dismisses Canada report on downing of airline as 'highly politicised'
  + stars: | 2021-06-25 | by ( ) sentiment -1.00   time to read: +2 min
Soldiers carry a coffin containing the remains of one of the eleven Ukrainian victims of the Ukraine International Airlines flight 752 plane disaster, at Boryspil International Airport, outside Kiev, Ukraine, January 19, 2020. The report, published on Thursday, found that while the shooting down of Ukrainian International Airlines flight 752 was not premeditated, it did not absolve Iranian officials of responsibility for the incident. "If this highly politicised and illegal behaviour by Canada became the norm, all countries, even the civil aviation industry, would be the main victims." Ottawa has repeatedly complained that Iran's official explanation did not answer many important questions about the downing of the Ukrainian plane. Canada does not have formal diplomatic relations with Iran, making the process lengthy and complex.
Persons: Mohsen Baharvand, Baharvand, Gareth Jones Organizations: Ukraine International Airlines, Boryspil International, Presidential Press Service, REUTERS, Ukrainian International Airlines, Thomson Locations: Kiev, Ukraine, Iran, Canadian, Ukrainian, Tehran, United States, Canada, Ottawa
Insider spoke with seven merchants in four countries whose Shopify accounts were hacked. The sellers lost thousands of dollars and thought Shopify would reimburse them. But when sellers are hacked, they're finding the Canadian e-commerce company does little to help them recoup their losses — and even demands that victims pay the company back. Then she lost $55,000 when her Shopify account was hacked, she said. When asked whether either incident was related to the hacked seller accounts Insider discovered, Shopify didn't respond.
Persons: Shopify, Sellers, Kate Tuff, Candy, Lisa Schotman, Andi Rosenberg, Mark, Stephanie Norton, Norton, Kylie Cosmetics, Kraft Heinz, they've Organizations: Business, Service, Shopify, Kraft Locations: Shopify, Texas, Amsterdam, Netherlands, Queens , New York, Canada, California
U.N. High Commissioner for Human Rights Michelle Bachelet attends a news conference at the European headquarters of the United Nations in Geneva, Switzerland, December 9, 2020. "In the meantime, the office continues to deepen its analysis and assessment of the alleged patterns of human rights violations in Xinjiang," she said on Tuesday. "There is no formal U.N. assessment of what is happening in Xinjiang and we need that given Beijing's denial," Kenneth Roth, head of Human Rights Watch, told reporters last week. Human Rights Watch and Amnesty International this year documented what they said could constitute crimes against humanity being committed in Xinjiang. Sarah Brooks, China expert at the International Service for Human Rights, said: "All that remains is for High Commissioner Bachelet to step up - China's cooperation must not be misinterpreted as a precondition to doing her job."
Persons: Human Rights Michelle Bachelet, Denis Balibouse, Bachelet, Ken Roth, Michelle Bachelet, U.N, Kenneth Roth, Sarah Brooks, Stephanie Nebehay, Alex Richardson Organizations: Human Rights, United Nations, REUTERS, Human Rights Watch GENEVA, Human Rights Council, Rights Watch, Amnesty International, International Service for Human Rights, High, Thomson Locations: Geneva, Switzerland, Xinjiang, China, Beijing, Canada, United States, Venezuela, Kashmir, Turkey
Canada's Gaucher says forced to choose between going to Games or being a mum
  + stars: | 2021-06-25 | by ( ) sentiment -1.00   time to read: +1 min
2016 Rio Olympics - Basketball - Preliminary - Women's Preliminary Round Group B Canada v Serbia - Youth Arena - Rio de Janeiro, Brazil - 08/08/2016 - Kim Gaucher (CAN) of Canada shoots a free throw. REUTERS/Shannon StapletonJune 25 (Reuters) - Canadian women's basketball player Kim Gaucher said she is being forced to decide between "being a breastfeeding mom or an Olympic athlete" because she cannot bring her three-month-old daughter to Tokyo due to COVID-19 protocols. Canada, ranked fourth in the world, are due to face Serbia in their opening match at the Tokyo Olympics, which begin on July 23. "Right now I'm being forced to decide between being a breastfeeding mom or an Olympic athlete. "Japanese fans are going to be in attendance, the arenas are going to be half-full, but I will not have access to my daughter?"
Persons: Kim Gaucher, Shannon Stapleton, Gaucher, Manasi Pathak, Peter Rutherford Organizations: Canada, Rio, REUTERS, Tokyo, Canadian Olympic Committee, Games, Reuters, International Olympic Committee, Thomson Locations: Serbia, Rio de Janeiro, Brazil, Canada, Tokyo, Japan, Bengaluru
Hundreds of unmarked graves have been located near a former residential school for Indigenous children in Canada, an Indigenous group announced Thursday, a finding that follows the discovery last month of human remains at a similar site — prompting a national reckoning of a shameful chapter in Canadian history. A preliminary investigation by Cowessess First Nation, whose lands are located in Saskatchewan province, led to an estimated 751 unmarked graves at a cemetery near the former Marieval Indian Residential School, Cowessess Chief Cadmus Delorme said at a virtual news conference. Delorme emphasized that the findings were of unmarked graves and not a mass grave site. The latest revelation comes a month after the remains of 215 children, some as young as 3, were found buried on the site of what was once Canada's largest Indigenous residential school near Kamloops, British Columbia. A makeshift memorial honoring the 215 children whose remains have been discovered buried near the facility surrounds a monument outside the former Kamloops Indian Residential School in Kamloops, British Columbia, Canada, on June 2, 2021.
Persons: Cadmus Delorme, Cowessess, Delorme, Cole Burston, Justin Trudeau, Deb Haaland Organizations: Cowessess, Indian Residential School, Roman Catholic Church, CTV, Catholic, Commission, Kamloops Indian Residential School, Nations, NBC, United Locations: Canada, Saskatchewan province, Delorme, Kamloops , British Columbia, Kamloops, AFP, Canadian, United States, U.S, Laguna Pueblo, American
With California and the rest of the Southwest still reeling from the extreme heat that shattered hundreds of records last week, the Northwest is now bracing for a sweeping multi-day heat wave that could be the region's worst in 12 years. There have only been two past instances when Seattle was 100 degrees or hotter, and neither time was in the month of June. While they've had a handful of multi-day stretches above 100 degrees, it has never happened in June. In addition to this being the region's worst heat wave since July 2009, it is also shaping up to be the worst June heat wave on record. The trials are being held in Eugene, Oregon where Saturday's high is predicted to be 100 degrees and Sunday's 107 degrees.
Persons: they've Organizations: Southwest, Seattle . Daily, Pacific, U.S . Olympic, Seattle Locations: California, Northwest, Washington , Oregon , California , Nevada , Idaho, Montana, Western Canada, Pacific, Portland, Seattle, Pacific Northwest, Eugene , Oregon, Boise
CANADA STOCKS-TSX rises on mining stocks boost, upbeat economic data
  + stars: | 2021-06-24 | by ( Reuters Staff | ) sentiment -0.95   time to read: +2 min
(Update prices, sectors)June 24 (Reuters) - Canada’s main stock index rose on Thursday as mining stocks tracked bullion prices higher, while government data showed that domestic wholesale trade most likely rose in May. ET (13:43 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 89.84 points, or 0.45%, at 20,254.23. The industrials sector rose 0.6%. * On the TSX, 171 issues were higher, while 54 issues declined for a 3.17-to-1 ratio favouring gainers, with 11.76 million shares traded. * Across all Canadian issues there were 58 new 52-week highs and 10 new lows, with total volume of 26.00 million shares.
Persons: Goldman Sachs, Brent, Amal S, Sriraj Kalluvila Organizations: Statistics Canada, Toronto Stock, Development, TSX, Westport Fuel Systems Inc, Magna International Inc, Mines, Corp, Bombardier Inc, Porcupine Mines Inc, Manulife Financial Locations: subsector, Bengaluru
CANADA FX DEBT-Canadian dollar steadies as exporter confidence soars
  + stars: | 2021-06-24 | by ( Reuters Staff | ) sentiment -0.99   time to read: +1 min
Export Development Canada's Trade Confidence Index jumped 19% from end-2020 to mid-2021 amid mounting optimism that a sustained global economic recovery is underway. It fell 0.5% to $72.74 a barrel but held close to its highest level in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity. The Canadian dollar was trading nearly unchanged at 1.2299 to the greenback, or 81.31 U.S. cents, after trading in a range of 1.2282 to 1.2314. Preliminary data for May from Statistics Canada showed factory sales rising 1% from April and wholesale trade up 1.1%. The 10-year was down about 1 basis point at 1.411% but holding well above the 3-1/2-month low it hit last Friday at 1.364%.
Persons: clawing, Fergal Smith, Jonathan Oatis Organizations: Canadian, Export Development, drawdowns, U.S . Federal Reserve, Investors, Statistics Canada Locations: TORONTO, U.S
Temporary moratoriums have protected up to 40 million coronavirus-battered U.S. residents against a catastrophic spread of potential evictions. (The moratorium is currently set to expire at the end of June, although the federal officials are now reportedly looking to extend it.) Second, we need to treat housing as infrastructure, just as Canada, Australia and many European countries do. America needs to invest in cost-effective strategies to prevent housing-insecure families from becoming homeless in the first place by expanding recent successful efforts, like the existing Emergency Rental Assistance Program, which provides one-time, short-term emergency housing assistance to very low-income households that lack any cushion when facing a housing emergency. We can get more done, and more quickly, if we allow greater local flexibility to make existing federal housing programs more effective.
Persons: We’re, Biden Organizations: American Jobs Plan, American, America, Emergency Solutions, Urban Development, Veterans Affairs, Health, Human Services Locations: Oakland, Calif, Mesa, Ariz, America, United States, California, Canada, Australia, U.S
METALS-Copper prices fall on firm dollar, supply pressure
  + stars: | 2021-06-24 | by ( Mai Nguyen | ) sentiment -0.99   time to read: +2 min
(Updates prices, adds quotes)HANOI, June 24 (Reuters) - Copper prices fell on Thursday, pressured by a strong dollar, fears of a sooner-than-expected interest rate hike in the U.S. and a forecast for rising supply in the coming months. “The U.S. dollar is heading higher and there will be more copper concentrate coming in the second half of this year. * LME aluminium fell 1.1% to $2,412.50 a tonne, nickel dipped 0.6% to $17,965 a tonne while ShFE nickel rose 0.8% to 134,060 yuan a tonne and ShFE tin increased 1.2% to 207,600 yuan a tonne. * A nickel trader said strong demand, tight supplies and a large amount of short positions in July have forced some traders to cover their positions, leading to a steady rise in nickel price. * For the top stories in metals and other news, click or ($1 = 6.4733 yuan) (Reporting by Mai Nguyen; Editing by Amy Caren Daniel)
Persons: , Laura Tyler, Mai Nguyen, Amy Caren Daniel Organizations: London Metal Exchange, Shanghai, Exchange, U.S . Federal, U.S, BHP Group Locations: HANOI, U.S, London, United States, Singapore, Canada
Canada Resists Opening U.S. Border as Covid-19 Vaccinations Ramp Up
  + stars: | 2021-06-24 | by ( Paul Vieira | ) sentiment -0.99   time to read: +2 min
Despite a sharp drop in Covid-19 cases and hospitalizations in Canada, and a significant ramp-up in vaccinations, the government said it would stick to a gradual approach, waiting for a significant majority of the population to be fully vaccinated. Officials remain cautious in part because of the spread of the highly transmissible Covid-19 Delta variant, and the possibility that fully vaccinated people could still carry and transmit the virus. Some Canadian citizens say it is also time to allow families and friends reunite after a 15-month pause. Canada, along with the U.S., agreed to extend a ban on tourists crossing the land border until July 21. Those rules will change on July 6, when Canada won’t require fully vaccinated Canadians to quarantine, subject to test results.
Persons: Justin Trudeau, ” Mr, Trudeau, , Organizations: Canadian, U.S, U.S . Locations: OTTAWA, Covid, Canada, U.S, U.S . Canada
Staff members of Apple Daily and its publisher Next Digital pose with the final edition of Apple Daily at its headquarters in Hong Kong, China June 24, 2021. REUTERS/Tyrone SiuHONG KONG, June 24 (Reuters) - Hong Kong residents rushed in the early hours of Thursday to snap up copies of the final edition of pro-democracy newspaper Apple Daily, forced to end a 26-year run after getting embroiled in a national security crackdown. "All rights and freedom, including media freedom, cannot go beyond the bottom line of national security." In Canada, Foreign Minister Marc Garneau said the forced closure of Apple Daily was a significant blow to freedom of press and speech in Hong Kong. Authorities froze the assets of companies related to Apple Daily, which senior executives said left it unable to operate.
Persons: Tyrone Siu, Jimmy Lai, queued, Tse, Hong Kongers, Dickson Ng, Marc Garneau, Ryan Law, Cheung Kim, Lai, Sharon Abratique, Anne Marie Roantree, Gerry Doyle Organizations: Apple Daily, REUTERS, RTHK, Science, Technology Park Corporation, Apple, Mainland Affairs, Authorities, Thomson Locations: Hong Kong, China, Tyrone Siu HONG KONG, Beijing, Mong Kok, British, Canada
Extended Warranties for Cars Are ‘Fraught With Peril for Consumers’
  + stars: | 2021-06-24 | by ( Christopher Jensen | ) sentiment -0.98   time to read: +2 min
Officials at Driver’s Protection could not be reached at either at the company’s phone number or through its Facebook page. More and more customers like Ms. Latham are interested in vehicle service contracts. “Having a vehicle service contract was a pitch that resonated with a lot of people.”Service contracts are also becoming more familiar, Ms. Cocking said. In 2019, the Better Business Bureau in the United States and Canada got about 6,700 complaints about companies offering service contracts. A 2004 survey by the Federal Trade Commission found that only about 8 percent of unhappy consumers filed complaints with state or federal officials.
Persons: Louis, , , Latham, Gina, Amy J, Schmitz Organizations: Driver’s, Advisors, ” Service, Better, Bureau, University of Missouri, Federal Trade Commission Locations: Florida, United States, Canada
Canadian exporter confidence rebounds to 20-year high - EDC index
  + stars: | 2021-06-24 | by ( ) + 0.99   time to read: +2 min
Trucks loaded with shipping containers leave the Port of Montreal in Montreal, Quebec, Canada, May 17, 2021. EDC's Trade Confidence Index jumped 19% from end-2020 to mid-2021, the largest 6-month increase since the survey began in 1999, the agency said. It's really telling us that everybody is arming themselves for what's coming in the second half of this year," said Peter Hall, chief economist at EDC. A growing share of companies reported orders from customers in the United States, Canada's largest trading partner, had improved in the past six months, EDC said. And 65% of respondents said they are planning to export to new markets, with the UK and Australia top destinations.
Persons: It's, Peter Hall, Joe Biden's, Julie Gordon, Simon Cameron, Moore Organizations: Port, REUTERS, Export Development Canada, EDC, Canadian, Thomson Locations: Port of Montreal, Montreal, Quebec, Canada, Muschi OTTAWA, United States, Australia, China, Ottawa
But now a mutation of that variant has emerged, called "delta plus," which is starting to worry global experts. India has dubbed delta plus a "variant of concern," and there are fears that it could potentially be more transmissible. delta plus. Read more: The fast-spreading delta Covid variant could have different symptoms, experts say Several of those variants, such as the "alpha" variant (previously known as the "Kent" or "British" variant) and then the delta variant, have gone on to be dominant strains globally, hence the attention on delta plus. India's Health Ministry reportedly said Wednesday that it had found around 40 cases of the delta plus variant with the K417N mutation.
Persons: SAEED KHAN, INSACOG Organizations: AFP, Getty, Public Health, India's Health Ministry Locations: Sydney, India, Public Health England, U.S, Canada, Japan, Nepal, Poland, Portugal, Russia, Switzerland, Turkey, China, Maharashtra, Kerala, Madhya Pradesh
Green Thumb Industries and Trulieve CEOs spoke at the exclusive Robin Hood Investors Conference last week. Newsletter Sign up for the Insider Cannabis newsletter for an inside look at the booming cannabis industry. GTI and Trulieve are two of the largest and best-performing US cannabis companies, known as multistate operators or MSOs. Kovler says that the US cannabis industry is around a $20 billion market, and expects that to double by 2025. Lawmakers are working on legislation that would open up capital markets to US cannabis companies as well as decriminalize cannabis federally.
Persons: Robin, Ben Kovler, Kim Rivers, Morgan's Robin, Kovler, Trulieve, That's, Robin Hood, Trulieve's Rivers, GTI's Kovler, he's, Kim, Ben, Emily Paxhia Organizations: Thumb Industries, Robin Hood Investors Conference, Cannabis, Service, Green Thumb, Morgan's Robin Hood Investors Conference, Canadian Securities Exchange, Robin, Robin Hood Conference, Poseidon Asset Management Locations: America, Canada
Live Live Updates: Senators to Brief Biden on Infrastructure ‘Breakthrough’ A bipartisan group of senators and White House negotiators have agreed on a framework for an infrastructure agreement. Senator Jeanne Shaheen, Democrat of New Hampshire, and other senators met with White House officials on Tuesday to discuss infrastructure proposals. Allegations of forced labor in the solar panel supply chain have created a dilemma for President Biden and his aides. The Biden administration had faced pressure to take action regarding products containing polysilicon produced in the region. Rodney S. Scott, the chief of the United States Border Patrol, near a border wall construction site outside McAllen, Texas, in October.
Persons: Biden’s, Biden, Jeanne Shaheen, Erin Schaff, Donald J, Trump, Kamala Harris, , Susan Collins, “ There’s, , we’ve, Jen Psaki, Emily Cochrane, Polat, Zhao Lijian, Zhao, ” Thomas Kaplan, David Guttenfelder, Ashraf Ghani, Helene Cooper, Eric Adams, James Estrin, Harris, Southern Border Jen Psaki, Kamala Harris’s, She’ll, Alejandro Mayorkas, I’ve, Mayorkas, Carlos Barria, Harris’s, Lester Holt, ” Jen Psaki, Greg Abbott of Texas, Zolan Kanno, Ramon Espinosa, exhorting, Biden administration’s “, Fidel Castro, Obama, , Rodney S, Scott, Sergio Flores, ” Mr Organizations: Biden, Infrastructure, White House, Democrat, White, The New York Times White House, Mr, Internal Revenue Service, Republican, Workers, Associated Press, . Customs, Protection, Hoshine Silicon Industry Company, Commerce Department, Industry, New Energy Company, Xinjiang East Hope Nonferrous Metals Company, Xinjiang GCL, Energy Material Technology Company, Construction Corps, Labor Department, Customs, House Democrats, China’s Ministry of Foreign Affairs, Politico, Associated, American, Officials, U.S ., Democratic, ., New York Times, Brooklyn Borough Hall, Senior Democrats, Plan, Southern Border, Wednesday, Department of Homeland, Border Patrol, , Credit, Reuters, NBC, House Republicans, Gov, United Nations General Assembly, United Nations, United, Congress, United States Border, The New York Times, Department of Homeland Security, Central America, Republicans, Patrol, Homeland Security Locations: New Hampshire, Maine, U.S, Hami, China's Xinjiang, China, Xinjiang, United States, Xinjiang East Hope, Beijing, Washington, Kunar Province, Afghanistan, New York City, Brooklyn, Southern, El Paso , Texas, El Salvador, Guatemala, Honduras, Mexico, Border, H.H.S, Mexico City, Europe, Central America, Cuba, Havana, Florida, McAllen , Texas, Central, Canada, Portland
Canada Goose goes fur-free
  + stars: | 2021-06-24 | by ( Jordan Valinsky | Cnn Business | ) sentiment -0.94   time to read: +1 min
New York (CNN Business) Canada Goose is icing out the fur trims on its jackets. Critics, including People for the Ethical Treatment of Animals, have been calling on the company for several years to stop using fur. Canada Goose warned in its 2017 IPO filing that its reputation and sales could be hurt by protestors or animal welfare activists, who oppose the use of fur. Thursday's announcement is part of Canada Goose's mission to become more sustainable. Earlier this year, it released it's "most sustainable parka to date" that uses 30% less carbon and requires 65% less water during production compared to its current parka.
Persons: Goose, it's, Read Organizations: CNN Business Locations: York, Canada, Toronto
Goldman upgrades key electric vehicle builder Magna to buy, sees nearly 30% upside
  + stars: | 2021-06-24 | by ( Jesse Pound | ) sentiment -0.79   time to read: 1 min
An employee assembles a rear bumper at the Magna International Inc. Polycon Industries auto parts manufacturing facility in Guelph, Ontario, Canada. For investors who are unsure about which electric vehicles will take off, contract manufacturer Magna International could be a smart bet, according to Goldman Sachs. Shares of the auto parts supplier and manufacturer have jumped 31% year to date, outperforming the broader market. The Ontario-based company builds individual parts and full cars for both electric and traditional vehicle companies. Analyst Mark Delaney upgraded the stock to buy from neutral, saying in a note to clients that Magna would be a key part of the supply chain as electric vehicle production expands.
Persons: Goldman Sachs, Mark Delaney Organizations: Magna International Inc, Polycon, Magna International Locations: Guelph , Ontario, Canada, Ontario
AeroVanti is a new private aviation firm offering members-only flights on a unique plane, the Piaggio P.180 Avanti. AeroVanti is a membership-based platform where flyers pay a monthly fee for exclusive access to a fleet of Piaggio P.180 Avanti aircraft. An individual membership costs $1,000 per month while a family membership costs $1,500 per month. Flying the Ferrari of the SkiesAeroVanti's Piaggio P.180 Avanti. AeroVanti is already sourcing additional aircraft, including new builds like Piaggio's next-generation P.180 Avanti Evo, for when memberships grow.
Persons: Read, Piaggio, Thomas Pallini, Steve Harr, Patrick Britton, AeroVanti Organizations: Piaggio, Avanti, Ferrari, Daytona, Pratt & Whitney Canada, East Hampton Airport, Brazos, Air Charter, Argus, year's Locations: Avanti, Italian, Europe, New York, South Florida, That's, Daytona Beach , Florida, East, Aspen , Colorado, East Coast, Oklahoma
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