Here's a quick look at some of the top business stories making headlines today. From earnings estimates to pension plans and potential TikTok deals, there's a lot happening in the world of finance and commerce.
Canadian Earnings Estimates Adjusted
Investment analysts at Desjardins recently released a research note revising their FY2024 earnings estimates for Power Co. of Canada (TSE:POW). Analyst D. Young now projects earnings per share of $4.78 for the year. This positive outlook suggests confidence in the financial services provider's performance.
However, not all news is positive. Stifel Canada has lowered its FY2024 EPS estimates for Boyd Group Services Inc. (TSE:BYD). D. Young, an analyst at Stifel Canada, now forecasts earnings per share of $2.27, according to a research report issued on March 2nd. These adjustments reflect the dynamic nature of market analysis and the factors influencing company performance.
CPP Payments on the Horizon
Canadians relying on the Canada Pension Plan (CPP) can mark their calendars. The next round of CPP payments will be distributed nationwide on February 26, 2025. These payments are a vital source of financial support for retirees, individuals with disabilities, and eligible survivors. The maximum CPP benefit for 2025 is set at $1,364.60 per month, though individual amounts may vary.
TikTok Sale Deadline Looms, Extension Possible
The saga of TikTok's potential sale in the United States continues. Former President Trump has indicated that there is "a lot of interest" from US parties looking to acquire the popular video-sharing platform.
Trump signed an executive order shortly after taking office that delayed the sale of TikTok to April 5. He is now considering giving interested parties more time to finalize a deal. The future of TikTok in the US remains uncertain, but the potential sale is a major development in the tech world.
"There is a lot of interest from US parties looking to buy TikTok," Trump stated.
Tariffs Impacting Canadian Auto Industry
Trade relations between the US and Canada continue to be a topic of concern, particularly for the automotive industry. Tariffs imposed by Washington are reportedly shaking the industrial zone of Ontario, which borders Michigan. Automobiles are Canada's second-largest export, and these tariffs are creating significant challenges for Canadian workers, especially in areas like Windsor, facing Detroit.
The automotive sector is very important to the Canadian economy, and any disruptions to cross-border trade can have serious consequences.