Can the sale of 28 store leases make Hudson's Bay more viable?
Retail expert Bruce Winder provides his insight on Hudson's Bay to sell 28 store leases to B.C. mall owner.
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CTV News
30 minutes ago
- CTV News
Pop-up farmers market celebrates local food, new partnership in Essex
A new partnership aimed at supporting local growers and producers in Windsor-Essex is being celebrated Thursday with a pop-up farmers market in downtown Essex. Tourism Windsor Essex Pelee Island (TWEPI) and Libro Credit Union are teaming up to strengthen the W.E. Heart Local program — a collaborative initiative with the Essex County Federation of Agriculture promoting farm-to-table experiences, farmers' markets, roadside stands, and local food producers. The market, taking place at Libro's Essex branch at 147 Talbot St. N., runs from 10 a.m. to 3 p.m. Pop-up farmers market A pop-up farmers market in downtown Essex, Ont., on Thursday, July 3, 2025. (Chris Campbell/CTV News Windsor) Weather permitting, the event will feature several W.E. Heart Local partners, including Raymont's Berries, Walnut Grove Bed & Breakfast, Simpson's Orchards and Denver's Homestead. Organizers say the initiative aims to encourage both residents and tourists to explore the region's agricultural offerings through the W.E. Heart Local Digital Pass, a free membership-based program that includes more than 60 participating businesses and attractions. The digital pass provides users with incentives such as monthly giveaways, exclusive offers and recipes that highlight the area's agricultural bounty. 'We really want to make people know about W.E. Heart Local, but W.E. Heart Local is a year long program to promote Farm Fresh,' said Jason Toner, Vice President of Marketing and Communications at Tourism Windsor Essex. 'We have growers and producers pushing our product all year long. So it's a program that you can learn about our growers and producers and explore now throughout the summer when it's peak season, but really into the winter and early spring when we have other options to explore.' For more information, visit or connect with Tourism Windsor Essex online.
Globe and Mail
30 minutes ago
- Globe and Mail
IBKR Stock Gains on Higher June DARTs: Should You Buy, Hold, or Sell?
Interactive Brokers Group, Inc. IBKR reported a rise in its client Daily Average Revenue Trades (DARTs) on a year-over-year basis for June 2025. In light of this, shares of the company rose 3.4% in yesterday's trading session. Total client DARTs for June were 3,448,000, representing a 39.7% increase from June 2024. This was primarily driven by higher net new accounts and options trading, partially offset by lower futures trading. Interactive Brokers has been benefiting from heightened market volatility and a rise in client activity on the back of tariff concerns and increasing geopolitical risks. Likewise, Charles Schwab SCHW and Tradeweb TW are also likely to have recorded a rise in new account openings and trading volume for June 2025. The momentum is expected to continue as markets and investors try to decipher the impact of tariffs on various sectors. Thus, IBKR will likely keep witnessing a rise in total client DARTs. Factors Supporting Interactive Brokers Global Exposure Through Product Diversification: IBKR has been taking several steps to enhance its presence globally. In May, the company extended trading hours for its Forecast Contracts to about 24 hours a day, which will boost its trading income. This move comes nearly a month after it launched Forecast Contracts in Canada, allowing investors to trade on the outcomes of several events impacting markets. In February, the company announced the expansion of its offering of Stocks and Shares Investment Savings Accounts with the addition of mutual funds in the U.K. This allows investors to access a wide range of investment products in a tax-efficient savings vehicle. It also offers advanced trading platforms, low fees and global diversification. Last November, IBKR launched Plan d'Epargne en Actions accounts to boost its offerings for its French clients. Also, the launch of IBKR GlobalTrader has enabled investors worldwide to trade stocks through mobile applications. The company was one of the first brokers to introduce Overnight Trading on U.S. stocks and exchange-traded funds (ETFs) nearly 24 hours a day, five days a week. IBKR Lite has enabled investors to trade commission-free. Further, it launched cryptocurrency trading via Paxos Trust Company, charging lower commissions compared to other crypto exchanges. The introduction of IBKR Desktop, the next-generation desktop trading application for Windows and Mac, marks a new chapter for innovation. The company's technological superiority, combined with easier regulations to improve product velocity, will support its net revenues through higher client acquisitions. Technological Excellence: Interactive Brokers' technological superiority remains one of its strongest aspects. The company processes trades in stocks, futures, options and forex on more than 150 exchanges across several countries and currencies. IBKR's compensation expense relative to net revenues (10.8% in the first quarter of 2025) remains below its industry peers due to its superior technology. Further, the company has been emphasizing developing proprietary software to automate broker-dealer functions, leading to a steady rise in revenues. Total net revenues witnessed a compound annual growth rate (CAGR) of 21.8% over the last five years (2019-2024). The momentum continued in the first three months of 2025. Net revenues are expected to improve further in the quarters ahead, given the solid DART numbers and robust trading backdrop driven by higher market participation. IBKR's Sales Estimates IBKR Shares are Undervalued IBKR shares appear inexpensive relative to the industry. The company is currently trading at a 12-month trailing price-to-tangible book (P/TB) of 1.46X, well below the industry's 2.87X. Price-to-Tangible Book Ratio (TTM) Also, IBKR stock is trading below its peers, Tradeweb and Schwab. At present, TradeWeb and Schwab's 12-month trailing P/TB TTM are 13.85X and 8.02X, respectively. From a valuation perspective, Interactive Brokers shares present a compelling buying opportunity. Parting Thoughts on Interactive Brokers Stock Shares of Interactive Brokers have risen 31.8% this year, outperforming the industry, the Zacks Finance sector and the S&P 500 index. Its close peers, Schwab and TradeWeb, gained 23.4% and 5.9%, respectively, in the same time frame. IBKR YTD Price Performance Image Source: Zacks Investment Research Over the past month, the Zacks Consensus Estimate for 2025 and 2026 earnings has remained unchanged at $1.76 and $1.89, respectively. Estimate Revision Trend Image Source: Zacks Investment Research The projected figures imply stable earnings for 2025 and a rise of 7% for 2026. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Interactive Brokers remains well-positioned for growth in the current volatile operating environment. Also, rapidly evolving trends will benefit the company's revenues and expand its market share. The company's strong technological capabilities and diversified product offerings enhance its global reach, supporting long-term growth. Undervalued shares are another positive. However, Interactive Brokers has witnessed a persistent rise in non-interest expenses over the past few years. Expenses witnessed a CAGR of 13.8% over the five years ended 2024, with the trend persisting in the first quarter of 2025. These are likely to remain elevated due to continued investment in franchises, product launches and technology upgrades. Moreover, the company generates a large portion of its revenues (almost 37% of total net revenues in the first quarter of 2025) from overseas operations. Rising geopolitical risks, foreign exchange fluctuations and tariff concerns are likely to subdue global growth prospects. Additionally, as market volatility and client activity normalize gradually, Interactive Brokers is likely to experience a deceleration in trading volume, which will negatively impact DARTs and the top line. Given these concerns, those who own IBKR stock can sell it now and book profits. At present, IBKR carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Charles Schwab Corporation (SCHW): Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR): Free Stock Analysis Report Tradeweb Markets Inc. (TW): Free Stock Analysis Report
National Post
39 minutes ago
- National Post
Colby Cosh: Carney's surrender to Trump was inevitable
One funny thing about the 'elbows up!' slogan of the New Canadian Nationalism is that in real life it's pretty hard to hit yourself with your own elbow. But in the actual policy sphere, most of what we might do to put our elbows up against the United States involves self-harm or, at a minimum, self-denial. Article content On Sunday the Department of Finance issued a terse circular announcing that the Digital Services Tax announced in 2021 would not, as originally planned, begin to be collected on Monday. The DST (R.I.P.) was designed to exclusively target Canadian revenues of American 'web giants' that provide online services, advertising, or streaming content. As the Finance memo observes, it is being dropped at the last minute in the hope of restarting negotiations with the U.S. on an updated version of continental free trade. Article content The idea of a DST was framed by the Trudeau government as a moral necessity of the 21st century: something had to be done about foreign vampires like Netflix and Google which had built businesses with millions of Canadian customers out of digital ether, but paid no tax in Canada. Everybody recognized, however, that much of the cost of the tax was bound to come out of the pockets of the customers rather than the vampires. Article content Article content It's inherently difficult to know how the tax incidence would have worked out, because the process of digital price discovery isn't especially mature: some of these companies are still figuring out their own optimum, revenue-maximizing price points in plain sight. But from a selfish point of view, Canadian consumers, considered strictly as such, can only feel relief at the sudden abandonment of the DST. Article content Is this a craven surrender on the part of the post-Trudeau Liberals? Well, this is the problem with interpreting everything in brute terms of animalistic personal combat, isn't it? The governments of the developed nations largely agree (perhaps against the interests of their own citizens) that there ought to be an international framework for digital-services taxation, and the OECD reached an agreement that nobody would run wild and introduce their own digital taxes until the issue could be sorted out collectively. Article content From that neoliberal-nerd point of view, Canada went rogue when it announced a homebrewed DST — one that would have had a nasty retroactive effect, that was designed specifically only to collect from large American companies with recognizable names, and that didn't address double-taxation issues. And let's recall that Joe Biden was still president when this happened. Article content Article content It's worth noting that this isn't just a question of playing chess against Donald Trump. Canada was really forced to withdraw the DST by the terms of the Trump-designed One Big Beautiful Bill passed by the U.S. House of Representatives in May, and now before the Senate. The OBBB reflects the fact that there's genuine bipartisan distaste in the U.S. toward the digital taxes hypothecated by Canada and already in effect in some other countries; it allows for tax-withholding countermeasures against countries that impose 'unfair' taxes on U.S. digital companies, countermeasures whose size could easily have dwarfed the relatively meagre revenues from the DST. In other words, if the government hadn't pulled the plug on the DST, we might have quickly found out how a one-armed man does in a battle of elbows. Article content
