Family behind La Ronge's Robertson Trading nearly loses cabin to wildfire, too
The family behind Robertson Trading say they were overcome with emotions when the iconic general store was lost to a wildfire in La Ronge, Sask., last week. But they didn't have much time to sit with their feelings. Owner Scott Robertson said they were occupied trying to save their family cabin that nearly burned down, too.
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Globe and Mail
37 minutes ago
- Globe and Mail
Oracle (ORCL) Stock Hits an All-Time High Amid Increased Cloud Demand
Optimism surrounding Oracle's ORCL cloud and AI infrastructure endeavors pushed its stock to an all-time high of $228 a share on Monday. This comes as the enterprise cloud leader has secured lucrative contracts thanks to its momentum in AI, with many analysts starting to raise their price targets for Oracle stock. That said, let's see if now is a good time to buy ORCL for higher highs. Massive Cloud Deal & AI Momentum Although the identity of the customer was not disclosed, Oracle stock spiked +4% on Monday following news of a regulatory filing in which the company had signed a massive $30 billion annual cloud services deal. Given the scale and nature of the contract, many analysts believe the client could be a major AI player like OpenAI. To that point, Oracle and OpenAI have formed a strategic partnership, collaborating on a massive AI training hub in Texas. As part of a broader $500 billion AI infrastructure initiative, which also includes Nvidia NVDA, Oracle is the venture's core infrastructure provider. Deemed Project Stargate, Oracle will be helping to expand OpenAI's compute capacity beyond Microsoft MSFT Azure. Embarking on a multi-cloud strategy, Microsoft and OpenAI are using Oracle Cloud Infrastructure (OCI) to integrate Azure's AI cloud platform to produce enhanced training for large-language models (LLMs). With demand booming for OCI, Oracle's MultiCloud revenue is reportedly growing at over 100% in correlation with the need to support generative AI workloads such as OpenAI's ChatGPT. Reporting its fiscal fourth-quarter results earlier in the month, Oracle's Q4 sales stretched 11% year over year to $15.9 billion, pinpointing that its MultiCloud database revenue spiked 115% sequentially, driven by partnerships with Amazon's AMZN AWS and Alphabet's GOOGL Google Cloud, along with Microsoft Azure. ORCL Performance & Valuation Comparison Following today's rally, ORCL is up +30% in 2025. More impressive, Oracle stock is now sitting on +200% gains in the last three years to vastly outperform the broader indexes and its Zacks Computer-Software Market's +95%, which includes Microsoft stock at +90%. Image Source: Zacks Investment Research Furthermore, despite Oracle's blazing stock performance, at 31.3X forward earnings, ORCL still trades beneath Microsoft's 37.1X and their Zacks Computer-Software Industry average of 35.9X. Analysts Upgrade ORCL Price Target to $250 Citing strong cloud momentum, AI infrastructure growth, and a bullish outlook for Oracle's current fiscal year 2026, several financial firms have upped their price target for ORCL shares to $250, including analysts at Stifel, UBS, and Guggenheim. Bottom Line At the moment, Oracle stock currently lands a Zacks Rank #3 (Hold). However, it wouldn't be surprising if a buy rating is on the way and perhaps higher highs for ORCL, as earnings estimates for Oracle are likely to rise in correlation with the announcement of its lucrative cloud services deal. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> 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 Oracle Corporation (ORCL): Free Stock Analysis Report Inc. (AMZN): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report
CTV News
an hour ago
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Bombardier secures US$1.7 billion aircraft order with service deal
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CTV News
an hour ago
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Canada U-turn leaves Europe in the lurch on U.S. tech taxes
Prime Minister Mark Carney walks with U.S. President Donald Trump after a group photo at the G7 Summit, Monday, June 16, 2025, in Kananaskis, Canada. (AP Photo/Mark Schiefelbein) PARIS -- Canada's dropping of a tax on U.S. tech giants under the pressure of Donald Trump is fuelling concern about the future of such levies in other countries, particularly in Europe. 'Currently, about half of all European OECD countries have either announced, proposed, or implemented' a digital services tax pending global action, said the Tax Foundation, a think tank which supports the introduction of such taxes. But the future of such measures is unclear after the Group of Seven nations agreed Saturday to exempt US multinational companies from a global minimum tax imposed by other countries. The move sparked a pointed reaction from Nobel prize winning economist Joseph Stiglitz. 'This is about more than trade -- it's about whether democratically elected governments can regulate and tax powerful corporations or whether tech billionaires can dictate policy through political proxies,' he said. Who has imposed such a tax? Austria, Brazil, Britain, France, India, Italy, Spain and Turkiye are a dozen large countries which have imposed or planned to impose special taxes on big tech firms. The objective is to force them to pay taxes where they carry out business as well as to counter the tax optimization strategies they often practice. Generally, the taxes target sales revenue and focus essentially on US firms like Alphabet (Google), Amazon, Apple, Facebook (Meta) and Microsoft. But they differ from one country to another in terms of sales that are taxed, with some targeting advertising revenue and others sales of data. 'Most of the proposed or adopted rates are in the 2-5 per cent range,' of the revenue stream targeted, according to analysts at the Canadian Tax Foundation. Most nations adopted the taxes pending a global agreement which would see multinational companies pay some taxes in countries where they operate, but the prospects for such a deal now look bleak. What these taxes generate The taxes tend to raise more money year after year, according to the latest data from the EU Tax Observatory, which dates from June 2023. Britain, France, India, Italy and Turkiye have seen steady increases in the revenue their taxes generate. Both Britain and France each raised approximately US$1.1 billion last year via their digital services taxes. Italy saw its revenue from the tax jump by 90 per cent from 2021 to over $530 million last year, according to local media. But Spain, which hoped to raise more than a billion per year via its tax, only raised only around $350 million in 2023, according to La Vanguardia daily. Other dominoes to fall? Before Canada, India had already halted in April its six per cent tax on online advertising by foreign firms against the background of trade talks with the United States. The taxes may fall elsewhere. While Britain has reached a trade deal with the United States to avoid the worst tariffs, it wants to go further and has refused to rule out a modification or elimination of its digital services tax. EU nations so far haven't indicated that the tax is on the table. A German government spokesman said Monday that Canada's dropping its tech tax had 'absolutely no bearing' on Berlin's position as it considers it considers its tax policies. But worries remain. National digital service taxes are 'vulnerable to economic and political threats -- particularly from the US, which has historically protected its digital multinationals from fair taxation abroad,' said the Tax Justice Network, a coalition of researchers and activists. By Ali Bekhtaoui with AFP foreign bureaus
