Welcome to Wall Street Wednesday

Introducing Wall Street Wednesday! Every Wednesday we will be sharing with you a news article, a fact, or a quote to keep our members up to date with the finance world. Here are the archives, enjoy!

 
 
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Elon Musk Accused by SEC of Misleading Investors in August Tweet

"Tesla Inc. Chief Executive Officer Elon Musk was accused by the Securities and Exchange Commission of misleading investors when he tweeted that he had funding lined up to take the company private. (...)"

 

Paul Allen, Billionaire Who Co-Founded Microsoft, Dies at 65

“Paul Allen, who co-founded Microsoft Corp. with fellow billionaire Bill Gates and used the fortune he made from the iconic technology company to invest in professional sports teams, cable TV and real estate, has died. He was 65. (…)”

 

Starbucks Hands Off the Reins in Four Europe Markets

“Starbucks Corp., already restructuring at home, will now shake things up in Europe, too. (…)”

 

WestJet profit down by two-thirds due to fuel costs, intense competition

“Soaring fuel costs, labour unrest and steep competition at home and abroad have made for a turbulent third quarter for WestJet Airlines Ltd., which saw profits plunge compared to the same period a year ago. (…)”

 

CMHC forecasts 'moderation' in Canadian housing market over next two years

“Canada Mortgage and Housing Corp. says the country's real estate market is expected to moderate over the next two years as the growth in housing prices begins to slow to be more in line with economic fundamentals. (…)”

 

Report: Amazon picks New York and Northern Virginia for HQ2

New York (CNN Business)After running a year-long competition that drew interest from hundreds of cities and a number of states, Amazon has reportedly chosen New York City and Northern Virginia to split duty as its second headquarters. (…) “

 

Canada Post warns of delivery delays into January with no labour deal in sight

“OTTAWA -- Canada Post says Canadians can expect delays of parcel and mail delivery into 2019 as a result of rotating strikes by its employees. (…)”

 

Maple Leaf Foods to build new $660 million London plant, shutter 3 others in Ontario

“LONDON, Ont. — Maple Leaf Foods Inc. is building a $660-million fresh-poultry facility in London, Ont., that will enhance its ability to process higher-margin products by closing three aging plants in the province. (…)”

 

U.S. Financial Markets to Shut Wednesday to Honor Bush

“U.S. financial markets will close Wednesday for a national day of mourning to honor former President George H.W. Bush. (…)”

 

Apple's services revenue growth is slowing down as it looks for new ways to fight weak iPhone sales, RBC says

“In a note published Sunday, RBC Capital Markets estimates Apple's services revenue has slowed to 18 percent year-over-year growth in the December quarter, compared with 27 percent expected.”

 

PayPal, Mastercard execs see a 'huge opportunity' for tech giants to partner with major banks

“Technology firms entering the financial services space shouldn't be afraid of partnering with the biggest players in the industry, according to two executives. (…)”

 

5 Predictions For Toronto's Housing Market In 2019

“We are almost a month into 2019, and it feels like the Toronto real estate market is getting a fresh start. Gone are the days of double-digit price increases, dozens of offers in bidding wars, and new record prices every month. (…)”

 

Tim Hortons co-founder and billionaire Ron Joyce dead at 88

“Ron Joyce, who rose from a childhood marked by the Great Depression to co-found the Tim Hortons doughnut chain, has died at the age of 88. (…)”

 

Tesla's electric vehicle dominance is about to have 'serious competition,' Morgan Stanley says

Tesla's domination of the electric vehicle market is "unsustainable" and will soon be disrupted by start-up Rivian, Morgan Stanley analyst Adam Jonas said Monday. (…)”

 

'We took our time': Tim Hortons president on the company's long road to China

“When Tim Hortons decided to expand to the Chinese market, the coffee-and-doughnut chain took its time making sure its presence in the country was just right, the company’s president said. (…)"

 

Innovation Nation: How technology is taking the guesswork out of pricing crude oil

“Long before the debate over pipeline construction, the oil price differential, production curtailment and government-purchased rail cars dominated headlines, a pair of Toronto entrepreneurs were busy travelling from wellsite to wellsite in frigid northern Alberta, testing technology that has the potential to transform the conversation. (…)”

 

Canada’s Labor Market Is Off to Its Best Start Since 1981

“Canada’s economy posted its second-straight surprise job surge, making the labor market a lone bright spot for an economy in the middle of a sharp slowdown. (…)”