Samsung misses the forecast – Business News

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Samsung Electronics Co. on Tuesday reported lower-than-expected second-quarter earnings, signaling the end of its record-breaking financial results such as smartphone and smartphone sales. Screens The South Korean tech giant said that its net income from April-June amounted to 10.98 trillion won ($ 9.8 billion), up 2% over 10.80 billion won a year earlier.

According to financial data provider FactSet, sales fell 4 percent to 58.48 billion won ($ 52.3 billion), while operating profit rose 6 percent to 14 percent. , 87 trillion won ($ 13.3 billion). , in line with his earnings overview earlier this month.

The latest results indicate the end of Samsung's record-breaking financial results that surprised investors. Samsung, the world's largest maker of memory chips, smartphones and billboards, has seen explosive earnings growth in 2017, thanks to an unprecedented boom in memory chip business

. is still the lion's share of Samsung's bottom line. During the second quarter, its semiconductor business generated 11.61 trillion won ($ 10.39 billion) in operating profits, or nearly 80% of total operating revenues. .

In contrast, sales there are a year. Sales of Galaxy S9 and other flagship smartphones declined while he had to spend more marketing costs to promote the phones. Its telephony business recorded operating profit of $ 2.667 billion over the three-month period, compared to 4.06 trillion won a year ago. As the growth of the smartphone market stagnates but competition intensifies, handset manufacturers are finding it increasingly difficult to increase their profits.

Samsung has made optimistic forecasts about the semiconductor industry. "Prospects for the memory chip industry remain strong in all applications thanks to the demand for memory for servers and PCs as well as for new launches of mobile products," the statement said. "The mobile market will likely remain difficult in the second half with price competition and new product launches."

Samsung is expected to announce the latest version of the Galaxy Note smartphone next week, which is expected to come out sooner than expected

The company said the new smartphone Note, which has often been Samsung's most expensive phone model , will be sold for "a reasonable price" this time. Expensive high-end smartphones have lost more and more of their luster over the past few years because older phone models are showing decent performance for most consumers.

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July 31, 2018 / 09:59 | story:
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The Manulife Financial Insurance Company announces that it will launch Canada's first medical marijuana program this fall in collaboration with Shoppers Drug Mart.

Manulife says program will be offered as an option to participants As part of this partnership, Shoppers Drug Mart pharmacists at an Ontario-based health care center will help authorized clients navigate through different strains. medical marijuana and the different ways to take it

will then be able to choose a treatment covered by its Manulife plan and receive ongoing case management.

The insurance company – which already offered selective coverage of medical cannabis to clients – says more details of the program with Shoppers. become available once the program comes into effect.

"Manulife's medical marijuana program will help," said Donna Carbell, senior vice-president of Manulife group plans.

Manulife is the last Canadian insurance company to continue its turn in the industry

Sun Life Financial Inc., for example, said in February that it was adding coverage to marijuana for medical purposes to its group benefit plans. The Great-West Life Assurance Co. has announced that it plans to expand its medical coverage options to marijuana in its group plans this year.

More than 235,000 medical marijuana patients were registered in Canada at the end of September 2017 – the most recent date at which data are available.

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July 31, 2018 / 09:52 | story:
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WestJet Airlines Ltd. announces that its very low-priced airline Swoop will soon begin its cross-border service as it seeks to regroup after a "deeply disappointing" second quarter, when it was hit by a pilot strike

Details on itineraries and the official start date will be announced later this week

Reports suggest that the Calgary-based airline will fly to Las Vegas, Nevada, Phoenix, Arizona. , and Orlando, Tampa and Fort Lauderdale from low-cost airports in Canada such as Hamilton, ON, and Abbotsford, BC

"We are clearly focusing on these airports to help migrate the five million Canadians who cross the border to Buffalo and Bellingham and make sure there is less need to travel with North American counterparts, "said WestJet CEO Ed Sims , during a conference call

. Orders for 737-800 will be delivered this year and there are plans to accelerate the expansion of 10 aircraft by the fall of 2019.

"There will be opportunities to be profitable on the roads where WestJet has a higher CASM (costs) is not able to function, "said Sims.

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July 31, 2018 / 8:00 am | story:
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. Brookfield Asset Management Inc. announces that it will purchase Forest City Realty Trust Inc. for $ 11.4 billion, including debt.

The asset manager claims to have entered into a definitive agreement with the Cleveland Realty Trust to acquire its shares in an all-cash trust.

The acquisition will allow Brookfield to control the 6.3 million square feet of Forest City office space, 2.3 million square feet of life sciences assets, mainly in the Cambridge area (Massachusetts) and 2.2 million square feet. Forest City also has five large-scale development projects in the New York, San Francisco and Washington, DC area, and 18,500 multi-family units for a total portfolio of more than 18 million square feet that will also be p

Brookfield offers $ 25.35 per share for Forest City, which is $ 26.6. The contract is the second largest purchase of a property in the United States for Brookfield this year after it's agreed to take ownership of the GGP Inc. Realty Trust

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July 31, 2018 / 7:23 | story:
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According to Statistics Canada, the Canadian economy grew 0.5% in May thanks to strong growth in domestic and Canadian-based sectors. # 39; export.

Growth was widespread in 19 of the 20 sectors studied and was stronger than expected for a 0.1% increase, according to Thomson Reuters Eikon.

The oil and gas sector also grew 2.5%

The retail trade sector grew 2%, its largest monthly increase since October. 2017.

Export-oriented sectors, including wholesale trade and manufacturing, also recorded gains.

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July 31, 2018/5 h 31 | story:
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WestJet Airlines Ltd. a rare loss of $ 20.8 million in the second quarter due to a labor dispute with its pilots, higher fuel prices and increased competition.

The loss rose to 18 cents per share, which was better than analysts. Analysts have estimated that WestJet would have a net loss of 27 cents per share and an adjusted loss of 28 cents per share, according to Thomson Reuters Eikon

. WestJet's revenue was estimated at $ 1.1 billion, but below $ 1.09 billion, up 2.8% from $ 1.06 billion in the second quarter of last year.

The company avoided a strike but the uncertainty The cost of fuel increased by 30.6% from one year to the next, which appears to be an increase reported last week by Air Canada.

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July 31, 2018/5 h 12 | story:
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Shopify Inc. outperformed analysts in terms of adjusted earnings and earnings in the second quarter.

The Ottawa-based e-commerce firm said analysts had estimated revenue at $ 234.6 million, according to Thomson Reuters Eikon estimates, at the high end of the range forecast of the company. ] Shopify also reported $ 2.5 million or two cents per share of adjusted net income, compared to a loss of $ 1.1 million or one cent per share in 2013.

Analysts estimated an adjusted loss of three cents a share this year. With respect to generally accepted accounting principles, Shopify recorded an increased net loss of $ 24 million or 23 cents per share in the quarter, compared to a loss of $ 14 million or 15 cents per share for the year. ;Previous exercice.

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July 30, 2018 / 13h47 | story:
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According to a recently published federal analysis, younger middle-income households will experience the greatest impact of the Bank of Canada's gradual interest rate changes. .

Minister Bill Morneau examines the types of households – by income, age and region – most affected by the extremely low rates of the central bank.

The September 2017 document obtained by The Canadian Press under the Access to Information Act Special attention will be paid to raising interest rates for highly indebted households , which are described as having a debt ratio of at least 350%.

The rating indicates that 12% of all Canadian households are very likely to be middle-income taxpayers, youth and seniors, and live in Ontario and British Columbia.

The Bank of Canada recently final interest rate for the fourth time in a year to bring the benchmark to 1.5 percent, its highest level since December 2008, but still low by historical standards.

The central bank raises its interest rate to help prevent inflation from climbing above its ideal target range of one to three percent.

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July 30, 2018 / 1:15 pm | story:
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The US government granted the US branch of CGI Group inc. A six-year cybersecurity contract with a total value of 530 million US dollars.

Contract relies on work Federal Inc. has already taken steps to improve the cybersecurity stance of organizations participating in a multi-year program overseen by the US Department of Homeland Security.

The latest contract was awarded by the US General Services Administration

CGI Group indicates that its US subsidiary, based in Fairfax, Virginia, will create a centralized view of security risks in a group of security agencies. United States Government.

The contract is part of Homeland Security's ongoing diagnostic and mitigation program. tools to identify cybersecurity risks on an ongoing basis and identify high-risk risks that should be addressed first.

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July 30, 2018 / 10h11 | story:
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At first glance, CryptoKitties are crazy-minded virtual cats that come in a variety of whimsical shapes – from fluffy ninjas to feline-duck hybrids

but do not put them under -not estimate. creatures because some CryptoKitties have ordered six figures in the virtual market, and the BC-based company behind the project says that it has attracted more than $ 12 million in investments.

And depending on who you ask, the blockchain game is either a sign of the future of the digital economy, or another crypto-craze fueled by the Internet's obsession with chatting.

For Axiom Zen developer Vancouver, it all started with a simple idea, said Bryce Bladon, director of communications at CryptoKitties.

"Let's put cats on the blockchain," says Bladon citing a co-founder of CryptoKitties

and that's more or less what they did.

The result is a virtual game that CryptoKitties, which I spun in his own company in March, compared to the Beanie Babies race on the blockchain – collectibles that can be bought, sold and "spawned" on the Ethereum network .

When a CryptoKitty changes hands, the exchange is recorded by the blockchain, a digital registry of transactions that is shared between a network of computers. Each CryptoKitty is encoded with a unique token, which, like its digital DNA, determines its heritable traits. When two cats reproduce, new features – or in the jargon of the game, "attributes" – can be unlocked by the genetic lottery.

"Ironically, (we try) to be the next Bitcoin by showing that there is a use for this technology beyond Bitcoin. "

An ordinary virtual kitten costs only a few dollars, but the special pedigree CryptoKitties may have exorbitant price tags.A CryptoKitty was purchased for $ 140,000 US at a charity auction in May , and others have recorded such spectacular sales in the crypto-currency ether.

It's hard to take advantage of virtual products copied and pasted but Bladon said blockchain technology has given birth to a new phenomenon in e-commerce – "digital scarcity."

Block chains can set limits on the number and types of CryptoKitties in circulation, which means that limited-edition CryptoKitties are very rare. Therefore, more valid.

According to Bladon, this ability to limit the virtual offer makes possible a "true digital economy" because it means that the cry pto-assets can have real world. However, he noted, CryptoKitties are not financial securities, and it would divert users from treating them as investments.

Marek Laskowski, co-founder of blockchain.lab at the York University School of Business, said that the comparison between CryptoKitties and the ephemeral craze of Beanie Babies in the 1990s may have -being been more relevant than anticipated the crypto-collectibles society when she previously touted the analogy on her website.

More than 1.3 million transactions involving CryptoKitties height the popularity of the game last December, according to Bloxy blockchain analysis site. But in June, transactions had fallen by 90% to 114,000.

"People should be skeptical of … investing more money than they are willing to lose, especially with these niche collectibles, "says Laskowski

" Once the novelty is gone, I think people have somehow found other things to do with their time. "

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30 Jul 2018 / 6:54 | story:
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The Bombardier rail division received an order for 36 Parisian trainsets to be used in the Ile-de-France regional transport network serving the Paris metropolitan area

. The order is part of a contract signed in 2006 with the French National Railways (SNCF) in 2006.

To date, 230 trains Francilien are in service.

Bombardier Transportation is the rail division of Bombardier Inc., established in Montreal

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July 30, 2018 / 06:47 | story:
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Canada will join Mexico and other European and Asian producing countries this week to chart a strategy for the possible imposition of rights on vehicles and vehicles. auto parts exported to the United States. Japan and the European Union organized the meeting on Tuesday in Geneva, during which vice ministers and deputy ministers from Canada, the EU, Japan and South Korea will meet to discuss discuss criminal sanctions threatened by US President Donald Trump. An official told The Canadian Press on Sunday that Assistant Minister of International Trade Timothy Sargent will attend the meeting on behalf of Canada.

Trump threatened to impose tariffs under section 232 of the US Trade Expansion Act. Legislation allows the President, under certain circumstances, to impose functions recommended by his Secretary of Commerce on the grounds that the imported goods pose a threat to national security.

Just as the United States Imposed High Fees on Steel and Aluminum The Trudeau government said it would respond to auto tariffs with its own countermeasures.

The Canadian Automobile Dealers Association warned that dollar-for-dollar retaliation levies would have a much greater effect. Critics warn of tariffs of up to 25% plus retaliation, which could add thousands of dollars to the price of a vehicle, kill jobs and cause significant damage However, auto parts manufacturers said that Canada and other countries would have little choice but to respond in kind to US trade measures [1]. 9659006] Trump ordered May 23 investigation of auto imports. It is unclear when the investigation will be completed, even if the one that was launched last year in steel and aluminum took several months to reach its conclusions. "This meeting is intended to bring together leading automotive producing countries so that we can discuss our concerns about the US Department of Commerce section." According to the WTO website, M Sargent was also scheduled to meet with the Director General of the World Trade Organization, Roberto Azevedo, on Tuesday, according to the WTO website

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