Business News

The S&P 500 rose for a fourth straight week as investors cheered better-than-expected inflation numbers. The consumer price index rose 8.5% yoy in July, compared to economists’ expectations of 8.7%. Meanwhile, wholesale inflation, as measured by the PPI, fell 0.5% last month. The weekly gain marks the longest winning streak since November 2021. But amid the sea of ​​rising stocks, certain names stand out from the crowd. What follows is a look at the 10 best-performing stocks in the S&P 500 for this week. CNBC Pro examined the week-to-date percentage change, the up (or down) movement in analysts’ median target price, and the percentage that the stocks had a buy rating. The current weekly values ​​refer to 9:40 am ET. Nielsen Holdings saw the biggest gain this week, up 19.4%. The TV ratings firm announced Thursday that it has reached an initial agreement to allow private equity firms to buy about 27% of its shares. However, analysts aren’t that interested in the stock. FactSet data shows that only 16.7% of analysts covering Nielsen rate Nielsen as a buy. Additionally, the stock has only 1.8% upside potential based on analysts’ median price target. Shares in Principal Financial posted the second-biggest gains of the week, up 14.3% after the company reported strong second-quarter results on Tuesday. However, FactSet data shows that only about 13% of analysts covering the stock have a buy rating. Analysts also see the stock falling another 10% from here. Disney also posted big gains this week, and a majority of analysts covering the stock think there’s still room for improvement. Shares are up over 13% on the week after the company reported better-than-expected streaming numbers and strong theme park attendance. According to FactSet, more than 70% of analysts covering the stock rate it as a Buy. And based on analysts’ median price target, Disney shares could climb another 15.9%. Another analyst favorite is SVB Financial, which is up 10% for weeks. According to FactSet, nearly 67% of analysts covering Regionalbank have a buy rating for the stock. SVB Financial shares have upside potential of 6.8%, according to the analysts’ median price target. Meanwhile, more than 57% of analysts covering Aptiv recommend buying the stock, FactSet data shows. The auto parts maker, which is up 11% this week, has upside potential of 20.6%, according to analysts’ median price target.

Canadian universities have benefited from the pandemic, posting record revenues in 2020 and 2021 as students bear the brunt of inflation and the housing crisis.

Canadian universities reported unprecedented post-pandemic revenue surpluses as schools benefited from strong stock market performance last year.

Canadian universities netted $7.3 billion in revenue for the 2020-2021 school year, the highest tally since the federal agency began collecting data in 2000, according to a Statistics Canada report released Tuesday. Revenue rose 12 from a year earlier .8% to $46.3 billion while spending declined 3.8% to $39 billion.

Much of the sales increase can be attributed to strong stock performance in 2021. Universities earned a record $5.4 billion from investments in 2020-21, up from $44.3 million last year and an annual average of $1.4 billion over the past five years.

Due to the pandemic, many on-campus activities have been discontinued without reducing tuition. Universities cut spending 3.8% to $39 billion from $40.6 billion a year earlier.

Maple Spring: a distant memory

Second source of revenue after provincial funding ($15.1 billion), tuition earned universities $13.3 billion.

According to Statistics Canada, income from tuition fees would fill the gap in provincial funding. From 2010-11 to 2020-21, tuition increased from 21.5% to 28.8%, while state funding decreased from 41.5% to 32.5%.

Universities are unlikely to report as high revenue next year given the decline in stock markets since the beginning of this year, according to Statistics Canada. However, the resumption of activities on campus could lead to an increase in tuition and fringe benefit income.

In 2020-2021, universities lost nearly $1.5 billion, or 47.6% of their revenue from the sale of services and products, which consisted primarily of income from dormitories and other ancillary services. In 2019-20, these revenues accounted for 7.6% of total Canadian universities’ revenues. It was 3.5% in 2020-2021.

Security News

Jay Fitzgerald Aug 12, 2022 9:22 am EDT

From new enterprise browser technology to a new MDR mobile app, here are 10 of the hottest product launches and updates unveiled at the annual Security Conference in Las Vegas.

Of course, it was hot at Black Hat USA 2022 in Las Vegas this week, both in terms of the weather and the quality of the new products and updates presented during the cybersecurity conference.

Thousands of vendors, channel players and other cybersecurity folks descended on the gambling mecca for the 25th Black Hat Conference, held at the Mandalay Bay Hotel and Casino in Las Vegas.

Unsurprisingly, most of the conversation has revolved around the relentless increase in cyberattacks being carried out by cybercriminals, national actors and other hackers – and the best tools being developed today to counter the many ways cyberhackers are trying to penetrate the systems of companies.

Below are 10 of Black Hat’s hottest product launches and updates across the following companies:

* Concentric AI

* BigID

* Seraphic security

* Cybereason

* Cybersixgill

* SentinelOne

* durable

* Pentera

* Crowd strike

* Mimecast

Jay Fitzgerald

Jay Fitzgerald is Senior Cybersecurity Editor at CRN. Jay has previously freelanced for the Boston Globe, Boston Business Journal, Boston Magazine, Banker & Tradesman, MassterList.com, Harvard Business School Working Knowledge, the National Bureau of Economic Research, and others. He can be reached at [email protected].

No fewer than 80 shots were fired in Rivière-des-Prairies and Montréal-Nord in just 24 hours, further affecting the sense of security of citizens frightened by the numerous shootings that are rocking the metropolis’ hot sectors. .

• Also read: [PHOTOS] Another Montreal shooting: Police clear search area, but investigation continues

“The world is about to go crazy,” said France Morneault, who works as a waitress at Al’s Pizzeria and Submarines, a stone’s throw from the recent crime scene.

Around midnight yesterday, around thirty shots were fired at the corner of Boulevard Maurice-Duplessis and 27th Avenue in Rivière-des-Prairies, right next to a police station.

A 25-year-old woman received at least one projectile in the legs, but is not in fear for her life. According to our information, unknown to the police, she may have been attacked at random while going to Al’s restaurant with friends.

Points

One of the hypotheses seriously considered by investigators is that of scoring, an increasingly common street gang practice that allows you to score points within your clan.

Four suspects then fled in a vehicle. However, Montreal police patrols quickly gave chase, particularly because the driver was traveling at high speed and had committed multiple traffic violations.

While attempting to flee from officers, the driver of the getaway vehicle lost control and landed upside down in a ditch about four kilometers away.

Authorities arrested two young men at the scene, but their accomplices managed to escape.

A major police operation was carried out for hours yesterday to find the young men in an adjacent wooded area. Vain.

Weapons, high-capacity magazines and a bulletproof vest were discovered on board the vehicle, according to our sources.

At the end of the afternoon, Dardy Lavaud, 18, and Robby Valère, 23, were formally charged with possession of a prohibited firearm in the Montreal courthouse.

As the Crown refused their release, they will remain in detention pending further trial. More charges could follow.

Lavaud has no criminal record, while Valère has previous convictions for drug possession and disobeying a court order.

Strong tensions

During the passage of the journal, tension ran high in this residential area in the east of the island.

“We don’t want to live in fear,” said Fatima Iden, who lives near the crime scene. We’ve lived here a long time. We had security. But now it’s the other way around. »

“You can hardly go out anymore,” said Pierre Boyer, who has worked for the flower shop for ten years and has a window next to the crime scene. Lost bullets, you walk out and get shot. They shoot everywhere. »

It is the third blood and gun incident in just 24 hours.

On Wednesday night, a 26-year-old young man with no prior history was killed by multiple bullets in the yard of the Lester B. Pearson School in Montreal North. A few minutes later, a vehicle in Rivière-des-Prairies, in which a young woman was, was riddled with bullets.

– In collaboration with Maxime Deland, Agence QMI, Laurent Lavoie and Michaël Nguyen

THE NEWSPAPER | A major police operation lasted many hours in Montreal yesterday as the armed and well-equipped suspects fled. Here is the thread of events

1. The shooting

Photo agency QMI, Pascal Girard

Around midnight 30, about thirty shots were fired at the corner of Maurice-Duplessis Boulevard and 27th Avenue in front of a Desjardins branch and Al’s Restaurant. A 25-year-old woman was injured. Projectile impacts are visible in the windows.

Photo agency QMI, Maxime Deland

2. A car accident

Photo agency QMI, Maxime Deland

Four suspects fled in a speeding vehicle. After about 4 kilometers, the driver lost control of the car, which overturned in a ditch on Broadway Avenue. Two suspects managed to escape, but two others were handcuffed by authorities.

3. Perimeter established

Photo agency QMI, Maxime Deland

Montreal police used heavy artillery with heavily armed police officers to apprehend the two fugitives, but to no avail. Searches were carried out in a wooded area and a large square was cordoned off. The intensive search was stopped yesterday afternoon. Authorities are actively looking for the suspects.

Photo agency QMI, Maxime Deland

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In the US, average gas prices fell below $4 a gallon for the first time since March, after falling steadily from a peak of $5 a gallon in June.

As of Friday, August 12, the average price for a gallon of regular gasoline is $3.98, according to the American Automobile Association (AAA).

But that doesn’t mean drivers are still below the $5 threshold in all states. Hawaiians currently pay the most for gasoline, which averages $5.39 a gallon in their state. In California, the current price of a gallon of gasoline is $5.38, although it’s down from over $6 a month ago.

Over the past week, Colorado, Arizona, Illinois, Maine, Ohio, Kansas and West Virginia had the biggest price declines, worth 18 cents a gallon or more, according to the AAA.

Here’s a look at the price range by state:

Why are gas prices falling?

There are many reasons for the fall in gas prices, but primarily it’s related to falling crude oil prices, which account for around 50% of consumer prices, according to the US Energy Information Administration (EIA).

Crude oil prices are sensitive to economic slowdowns, which is likely driving the overall fall in demand. West Texas Intermediate Crude, the US oil benchmark, fell to just over $94 on Thursday from $130 a barrel.

Other reasons include reduced demand from drivers affected by the price shock and government gas tax holidays.

However, the fall in prices might not last, especially if unforeseen events like hurricanes or the war in Ukraine further impact oil supplies.

According to a forecast released on Tuesday, the EIA expects the cost of retail gasoline to average $4.29 a gallon through September. That price is then expected to drop to an average of $3.78 per gallon for the rest of the year.

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Do not miss: This 33-year-old mom makes $760,000 a year in passive income — and lives on a sailboat: ‘I only work 10 hours a week’

CATL, the world’s largest battery maker, has announced a plan to build a massive new battery factory in Hungary to supply automakers like Mercedes-Benz and BMW.

Contemporary Amperex Technology Co. Limited, abbreviated as CATL, somehow came out of nowhere. Founded just a decade ago, it has quickly grown to become the world’s largest battery cell manufacturer, supplying key companies in the electric revolution.

After Tesla started production in China at the Gigafactory Shanghai, CATL became a supplier to Tesla and helped the automaker transform the Gigafactory Shanghai into the largest electric vehicle factory in the world. In recent years, CATL has expanded outside of China, starting with Europe.

It started with a new battery factory in Germany and is now expanding with a second one in Europe.

CATL today announced a €7.34 billion (~$7.4 billion) investment in a 100 GWh battery plant in Debrecen, eastern Hungary:

On August 12, 2022, Contemporary Amperex Technology Co., Limited (CATL) officially announced that it will invest EUR 7.34 billion to build a 100 GWh battery plant in Debrecen, eastern Hungary, which will also be its second battery plant after its German plant in Europe is . Subject to the approval of the Annual General Meeting, construction of the first production facilities will begin this year.

dr Robin Zeng, Founder and Chairman of CATL, commented on the announcement:

Our Debrecen facility will undoubtedly enable us to further strengthen our competitive advantage, be more responsive to our European customers and accelerate the transition to e-mobility in Europe. The greenfield project in Hungary will be a giant leap in CATL’s global expansion and also an important step in our efforts to make an outstanding contribution to the pursuit of green energy for mankind.

CATL confirmed that the new plant will supply European automakers such as Mercedes-Benz, BMW, Stellantis and Volkswagen:

Debrecen is in the heart of Europe and with close proximity to some of its customers’ car plants such as Mercedes-Benz, BMW, Stellantis and Volkswagen, the CATL plant in Debrecen will allow it to better meet the battery needs of the European market. to improve the development of the global production network and to contribute to the acceleration of e-mobility and energy transition in Europe.

Construction is due to start later this year.

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In 2017, Le Journal portrayed a dozen graduates from an unloved Montreal school. We have documented their journey for 5 years.

for five years The newspaper followed the grads of a high school struggling to shed its old reputation Rock’n’Roll. All went through CEGEP. Some are even considering pursuing a masters degree at university.

• Also read: A school where teachers want to work

• Also read: École Pierre-Dupuy: a mixed memory for the 10 graduates

“Where will these young people be in 5 years? We now know the answer. It’s light-years away from the miserable cliché associated with Montreal’s Centre-Sud neighborhood, one of the province’s most deprived areas.

“It’s a hidden blessing. When people realize where you’re from that you haven’t cooked everything in your beak […]they think twice about their success, then they see its true value,” says Eugénie-Laurence Fafard-Drareni, 22.

In 2017, the Pierre Dupuy School was one of the most disliked by the Montreal School Board. Around 75% of the young people in the neighborhood chose a different path, either privately or in a school with a special job, so that the 2017 class only had around fifteen graduates.

Twelve of them took part in the project during the first edition. Thereafter, 10 met each year to document their journey, their reflections on school and their beginning adult life.

exceed expectations

Aram Mansouri remembers a career choice course in 3rd secondary school.

“It was only about professions for which you need a professional qualification. »

“They didn’t even talk about CEGEP or university. Apparently they thought we wouldn’t go there. »

Of the 10, six are currently studying at the university. Two are completing a technical program at CEGEP. Two others already have their advanced technical college entrance qualification and are on the job market.

ups and downs

Almost half changed paths in between, tried courses that didn’t suit them, took breaks to come back better.

Hyperconfident young men learned humility, tasted failure. Young women who doubted themselves gained self-confidence, learned to accept the vagueness of their future.

But one thing remained constant: you were ambitious and hardworking at 16 or 17. They’re still 22 or 23 years old.

“Maybe I’ll be Pierre-Dupuy’s first millionaire,” predicts Rafiul Haque, who has set up his own business. “Or maybe the youngest. »

The key to success lies in the appreciation of education

Some have lived in low-rent housing. Others have parents who didn’t speak a word of French when they immigrated to Quebec. But what they have in common is that they grew up in families where education was valued.

“My mother gave me what she didn’t get,” sums up Bianca Goudreault-Beaupré, whose parents neither have a high school diploma.

“They always told me: school is compulsory. It was always the most important thing […] Every day they sat with me for verbs, multiplications. They established a pretty serious routine,” she recalls.

When the 10 young graduates attribute their success to their efforts, some are grateful to their parents.

No limits

Originally from Algeria, Eugénie-Laurence’s mother did not have the opportunity to study as much as she would have liked. She often told her daughter when she was a baby that she could become Prime Minister of Quebec if she wanted to.

She is about to start a master’s degree in law.

“Before, I had no idea what the middle class was. »

She tells of her shock when she discovered that some of her peers had grown up in a house that was “too big” or had parents who paid for their studies.

“I depend on loans and grants and the student margin. I’m in debt up to my chin to go to college. But I do it because I have faith in myself. »

Bianca Goudreault-Beaupré admits she has doubts. At 17, she was convinced that college was too expensive.

“I set myself limits even though I didn’t choose my job. »

She is now a bachelor’s student in kinesiology, the first in her family to go to university except for one cousin.

The essential

Mylie-Anne Laurin Quezada is now a specialty educator passionate about mental health. Her mother would have liked this job if she hadn’t been on welfare for many years while her children were growing up.

But in his family the essentials were there, namely love and communication, says Mylie-Anne, who assures that she never lacked for anything.

“We have learned to live without materialism […] It helps to develop deeper values, like mutual help, empathy. »

Rafiul Haque’s mother left Bangladesh when she was about his age. She came to the country when she didn’t speak the language, he explains.

“I could give money back to my parents and many other things. But not this willingness to make sacrifices. »

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Disney World and Disneyland customers could soon be hit by another round of price hikes, according to Disney CEO Bob Chapek.

After raising prices on Disney’s streaming services, including Disney+, Hulu, and ESPN+, Chapek told CNBC that the price hikes are likely to hit popular Mouse House theme parks next.

“We read the demand. We don’t have any plans at the moment as to what we’re going to do, but we’re operating with a surgical knife here,” Chapek said Thursday. “Everything depends on the consumer. If consumer demand continues, we will act accordingly. If we see a softening that we don’t think we will see, then we can act accordingly.”

Price increases at times of high demand are a matter of course for Disney.

The cost of theme park tickets has skyrocketed over the years, with data-tracking company SJ Data Visualizations estimating that the price of Disney World and Disneyland theme park tickets has risen by more than 3,871% over the past 50 years — one in the Shadowed increase in attendance. wages and the cost of rent and gas.

Disney CEO Bob Chapek said if demand at theme parks continues to rise, price hikes are likely to follow. Bloomberg via Getty Images

Earlier in the year, Disney increased prices at Disneyland and Disney California Adventure in Anaheim, California. The popular admission price for a one-day ticket increased by 6.5% to $164 for entry into a park, while a two-day park hopper pass costs $319. almost 9% up.

The price of tickets to Florida’s theme parks — which include Disney World and the Epcot Center — remained unchanged, staying at $109 for a day pass. For a park hopper option that includes entry to more than one park, the price increases to $169 for entry after 2:00 p.m. The Park Hopper option costs $194 per ticket if guests wish to board before 2:00 p.m

Ticket prices at both Florida parks can go even higher if booked on a high-volume day — just like airline tickets.

Disney has also slowly increased the prices of groceries and merchandise at its parks. For example, at Disney World, the iconic Mickey Ears headbands are up $10 to $39.99, while the popular Mickey’s Premium Ice Cream Sandwich and Premium Chocolate Covered Bar are up from $5.69 to $5.99 , Disney fan blogs Inside the Magic and Walt Disney World News Today reported earlier this year.

The mouse house benefits from the price increases. During its most recent quarter, the Burbank, Calif.-based company reported a 72% increase in revenue from its parks, experiences and products division to $7.4 billion. According to Disney, per capita spending rose 10% at Disney World and Disneyland and is up more than 40% compared to fiscal 2019.

During the earnings call, Chapek revealed a series of price hikes at the company’s streaming services, Disney+, Hulu, and ESPN+, which continue to lose money as the company aggressively spends on content to keep up with competitors like Netflix, Amazon, and HBO Max.

The streaming division’s losses topped $1 billion, compared to a $300 million loss a year earlier. Streaming revenue, however, grew 19% to $5.1 billion.

Chapek said a new Disney+ with ads, now called Disney+ Basic, will launch on December 8 at a price of $7.99 per month.

The price of Disney+’s ad-free service will increase by $3 to $10.99 per month and will be known as Disney+ Premium when the basic version launches.

Meanwhile, Hulu will also get a price increase. Beginning October 10, Hulu with ads will increase by a dollar to $7.99 per month, while the ad-free version will increase from $12.99 to $14.99 per month.

The Disney bundle, which includes Hulu with ads, Disney+ without ads, and ESPN+, will increase by a dollar to $14.99 per month. The premium version of the package with no ads on all services stays at $19.99 per month.

Disneyland and Disney World could soon get another round of price increases. GC Images

As previously announced, ESPN+’s price will increase by a whopping 43% to $9.99 per month on August 23.

Overall, the streaming unit added a total of 221 million subscribers, beating out Netflix, which reported 220.7 million subscribers last month. However, through the division, Disney is still chasing the steamy giant.

During the quarter, Hulu added 46.2 million subscribers, up 8% year over year. About 23 million people paid to access ESPN+, a 53% increase, as Disney+ subscribers totaled 152.1 million subscribers, a 31% increase.