Futures Tumble Thursday

Futures for Canada’s main stock index slipped on Thursday, weighed by a near 3% fall in oil prices as the deepening COVID-19 crisis in India raised concerns about demand.

The TSX lost 166.27 points to end Wednesday at 19,110.77

The Canadian dollar dipped 0.51 cents Thursday to 82.45 cents U.S.

June futures sank 0.6% Thursday.

Canadian Tire surpassed analyst estimates for first-quarter revenue, helped by strong online demand for bikes, patio furniture and pool supplies from people stuck at home due to the COVID-19 crisis.

Cargojet has threatened to move work to the United States unless it wins exemption from rules aimed at preventing pilot fatigue because of their cost, according to a deal rejected by its pilots.

BMO raised the target price on Intact Financial to $190.00 from $185.00

Scotiabank cuts target price on Northland Power to $48.25 from $52.00

ON BAYSTREET

The TSX Venture Exchange dropped 19.53 points, … Read more

New powers to tackle unfit directors of dissolved companies

The Insolvency Service is to be given powers to investigate directors of companies that have been dissolved, closing a legal loophole and acting as a strong deterrent against the misuse of the dissolution process.

The process will no longer be able to be used as a method of fraudulently avoiding repayment of Government backed loans given to businesses to support them during the Coronavirus pandemic

Extension of the power to investigate also includes the relevant sanctions such as disqualification from acting as a company director for up to 15 years. These powers will be exercised by the Insolvency Service on behalf of the Business Secretary.

At present, the Insolvency Service has powers to investigate directors of live companies or those entering a form of insolvency. If wrongdoing or malpractice is found, directors can face sanctions including a ban of up to 15 years.

The measure will also help to prevent … Read more

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Bitcoin Could be Headed to $250,000 in the Next Five Years

Bitcoin may have tumbled from all-time highs of nearly $65,000, but don’t count it out just yet. With a good deal of retail and institutional interest, the digital currency appears to have bottomed out, pivoting back to $56,600, fueling stocks like Tokens.com Corp. (NEO:COIN)(FSE:76M), Coinbase (NASDAQ:COIN), Riot Blockchain (NASDAQ:RIOT), Marathon Digital Holdings Inc. (NASDAQ:MARA), and HIVE Blockchain (TSXV:HIVE)(OTC:HVBTF).

From here, Bitcoin could rally $250,000 within five years, says Morgan Creek Capital Management’s Mark Yusko, as noted by CNBC. “What people miss is this is a technological evolution of computing power that isn’t going away,” he added. “It is a powerful computing network that is going to become the base layer protocol for the Internet of value.”

One of the Top Beneficiaries of Such News is Tokens.com Corp. (NEO:COIN)(FSE:76M)

Tokens.com Corp. is a Proof-of-Stake technology company that provides investors with a simple and secure way to gain exposure to Staking rewards … Read more