Abandoned pets are overwhelming this Montreal shelter — and moving day will make things worse
While the Montreal SPCA says most pet surrenders are due to financial stresses, another factor is no-pet clauses in rental housing, which force many people to make difficult decisions when moving.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
22 minutes ago
- Globe and Mail
Goldman Stock Surges Over 57% in a Year: Is There Still Room to Run?
The Goldman Sachs Group, Inc. GS shares have surged 57.3% over the past year, outperforming the industry 's 40.9% growth. Its peers, JPMorgan JPM and Morgan Stanley MS, shares rose 48.4% and 50.6%, respectively, over the same time frame. Price Performance With such strong momentum, investors are now asking: Is there still room for Goldman to run, or has the stock peaked? Let us delve deeper and analyze what's driving the growth and whether there is more scope to grow further. Prospects of Goldman's IB Business A robust revival in merger and acquisition (M&A) activity was expected for 2025, bolstered by a potentially business-friendly Trump administration, expectations for regulatory rollbacks and pent-up demand. However, the reality so far has been more complicated. Now, the timeline for a solid rebound in M&As has shifted to the second half of 2025 due to Trump's tariff plans, which resulted in extreme market volatility. Given mounting inflationary pressure, a slowdown/recession in the U.S. economy is expected. Amid such a backdrop, companies are rethinking their M&A plans despite stabilizing rates and having significant investible capital. In the first quarter of 2025, Goldman reported an 8% year-over-year decline in IB revenues, underwhelming against JPMorgan's 12% growth and Morgan Stanley's 7.7% increase in IB fees over the same period. On the surface, this may suggest Goldman is losing ground to its peers. However, the company continues to maintain a leading market share in global M&A advisory, underscoring deep institutional relationships and trusted deal execution capabilities. GS has reported an increased IB backlog, indicating a strong pipeline of potential deals that could convert into revenues as soon as macro conditions improve. This positions Goldman to capitalize well once M&A momentum improves, potentially giving it an edge over peers. GS & Easing Capital Requirement Proposal This week, the Federal Reserve proposed a 1.4% reduction in capital requirements for Global Systemically Important Banks (GSIBs), which could translate to approximately $13 billion in capital relief for major players like Goldman, JPMorgan, and Morgan Stanley. This proposal, if finalized, would increase operational flexibility for GS. With lower capital buffers, Goldman would be able to reallocate resources more efficiently, potentially scaling operations in key areas such as lending, trading and treasury activities. Further, freeing up billions in capital could boost return on equity (ROE) and unlock new growth avenues. The company may opt to deploy excess capital into higher-yielding assets, invest in business expansion, or return it to shareholders via dividends and share buybacks. Goldman's Focus on Core Business GS is making efforts to exit non-core consumer banking business and sharpen its focus on areas wherein it holds a competitive edge — IB, trading, and asset and wealth management (AWM). Last November, per the Wall Street Journal report, Goldman received a proposal from Apple to end their consumer banking partnership. Per a January 2025 Reuters report, the collaboration may end before the contract runs out in 2030. The move is expected to affect two consumer banking products that Apple currently offers — the Apple Card and the Apple Savings account. In 2024, Goldman finalized a deal to transfer its GM credit card business to Barclays and completed the sale of GreenSky, its home-improvement lending platform. In 2023, the company divested its Personal Financial Management unit. These moves demonstrate a well-thought-out exit from consumer finance, allowing Goldman to reallocate capital and attention toward higher-margin, more scalable businesses. This strategic shift is benefiting the AWM division, which now plays a crucial role in the company's long-term growth. AWM is expanding into fee-based revenue streams to help offset the volatility of the IB business. As of March 31, 2025, AWM managed more than $3.2 trillion in assets under supervision and is experiencing strong momentum in alternative investments and customized wealth solutions for ultra-high-net-worth individuals. In the first quarter of 2025, Goldman reported significant net inflows into its wealth management platform, providing solid evidence of the segment's increasing market traction and client confidence. Goldman's Strong Liquidity Profile GS maintains a fortress balance sheet, with Tier 1 capital ratios well above regulatory requirements. This financial strength allows it to return capital to shareholders aggressively through buybacks and a healthy dividend yield (1.79%). As of March 31, 2025, cash and cash equivalents were $167 billion, and near-term borrowings were $71 billion. Given its strong liquidity, the company rewards its shareholders handsomely. In July 2024, it increased its common stock dividend 9.1% to $3 per share. In the past five years, the company hiked dividends four times, with an annualized growth rate of 23.6%. Currently, its payout ratio sits at 28% of earnings. Meanwhile, GS' peer JPMorgan raised its dividend five times over the past five years, with a payout ratio of 27%. Morgan Stanley raised its dividend four times over the past five years and has a payout ratio of 43%. Additionally, Goldman has a share repurchase plan in place. In the first quarter of 2025, the board of directors approved a share repurchase program authorizing additional repurchases of up to $40 billion of common stock. Earlier, in February 2023, it announced a share repurchase program, authorizing repurchases of up to $30 billion of common stock with no expiration date. At the end of the first quarter, GS had $43.6 billion worth of shares available under authorization. Goldman's Estimates and Valuation Analysis The Zacks Consensus Estimate for GS' 2025 and 2026 revenues indicates a year-over-year rise of 3.5% and 5.9%, respectively. Likewise, the consensus estimate for 2025 and 2026 earnings indicates an 8.8% and 14.1% rise, respectively. Sales Estimates Image Source: Zacks Investment Research Earnings Estimates Image Source: Zacks Investment Research In terms of valuation, GS stock also looks expensive. The stock is trading at forward price/earnings (P/E) of 14.60X compared with the industry average of 14.55X. Goldman is also trading at a discount compared with its peers, JPMorgan and Morgan Stanley. Currently, JPM and MS have P/E multiples of 15.26X and 15.67X, respectively. Price-to-Earnings F12M GS Stock: A Solid Long-Term Play, Near-Term Caution Advised Goldman has delivered outstanding returns over the past year, driven by strategic initiatives, strong capital returns and a growing wealth management business. Though its IB business performance lagged peers in the first quarter, its leadership in M&A advisory and robust deal pipeline signal potential upside once market conditions stabilize. The Fed's proposed capital requirement changes, combined with Goldman's exit from lower-margin consumer banking, provide additional flexibility to boost profitability and scale core operations. However, with the stock trading at a premium compared with the industry and macro uncertainties persisting, the near-term risk/reward may be balanced. As such, Goldman stock warrants a cautious approach for now. However, it remains a strong long-term holding for investors looking for exposure to a diversified, well-capitalized financial giant poised to benefit from a recovery in deal-making and capital markets activity. At present, Goldman carries a Zacks Rank #3 (Hold) You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Morgan Stanley (MS): Free Stock Analysis Report
CTV News
28 minutes ago
- CTV News
Demolition of abandoned building in downtown Red Deer postponed
The Empire Building in Red Deer in June 2024. (Google Street View) An abandoned building in Red Deer's downtown that was slated for demolition starting Friday will remain standing for now. The city announced earlier this week that crews would begin tearing down the Empire Building at 4909 48 St. starting Friday. On Thursday, officials announced the demolition had been put on pause. 'Due to some unexpected circumstances and an abundance of caution, the demolition will be postponed while the contractor proceeds with investigation and preparation work,' the city said in a news release. 'When a new timeline is determined, we will provide an update.' The building has sat empty since a fire in October 2021 despite calls from residents to demolish it.
CTV News
28 minutes ago
- CTV News
Alberta's first mobile hydrogen fuelling station launches in Edmonton
Alberta's first mobile hydrogen fuelling station is seen in southeast Edmonton on June 26, 2025. (CTV News Edmonton/Sean McClune) The City of Edmonton has launched its first mobile hydrogen fuelling station for its fleet vehicles. Located at the city's fleet and facility services in Ellerslie, the Azolla Biodrome mobile fuelling station produces hydrogen services to light, medium and heavy-duty fleet vehicles. This is the first of two stations that will operate in the city. 'It's a huge milestone for the city as we advance our exploration of hydrogen for municipal fleets,' said city manager Eddie Robar at the station's unveiling Thursday. 'This station gives us and our regional partners the opportunity to continue testing hydrogen in real world conditions for heavy and light duty vehicles.' The Azolla Biodrome is a modular hydrogen fuelling system that combines on-site hydrogen production from methanol and deionized water with integrated compression, high-capacity storage and dispensing systems. The station stores hydrogen in 16 tanks with 600 kilograms of storage capacity. MOBILEHYDROGEN Hydrogen storage tanks are seen at Edmonton's new mobile hydrogen fuelling station on June 26, 2025. (CTV News Edmonton/Sean McClune) The station was launched with the Alberta Zero Emissions Fleet Fuelling (AZEFF) project, a partnership between Edmonton, Strathcona County, Sturgeon County, the province, Emissions Reduction Alberta (ERA), the University of Alberta, the Transition Accelerator, Alberta Motor Transportation Association and Diesel Tech Industries. The pilot project, which will run until 2027, received $6.9 million in ERA funding in April 2024. Once the pilot is complete, the city and its partners will produce a report on the outcome of the project. 'This project is a great example of the initial types of initiatives that we are excited to invest in,' said Christophe Owttrim, executive director of technology and innovation at ERA. 'It really shows what's possible when innovation, collaboration and a commitment to advancing clean technologies comes together. MOBILEHYDROGEN Some City of Edmonton fleet vehicles are now dual-fuelled by hydrogen. (CTV News Edmonton/Sean McClune) As the project evolves and expands, the station will serve Class-8 semis, dump trucks, refuse trucks and plow trucks from the City of Edmonton as well as from Strathcona and Sturgeon Counties. A second fuelling station is scheduled to open at a different location within the city next year. The city currently has a fleet of hydrogen vehicles including one dual-fuel waste collection truck, one dual-fuel transit bus, one hydrogen fuel cell electric bus and two Toyota Mirai vehicles. Another dual-fuel waste long haul truck and transit bus will be converted and added to the fleet at some point. MOBILEHYDROGEN Some Edmonton Transit buses are now dual-fuelled by hydrogen. (CTV News Edmonton/Sean McClune) Arjun Sharma, branch manager of Fleet and Facility Services for the city said the opening of the station represents progress in advancing hydrogen as a viable fuel source for municipal and business operations. 'Transitioning to a lower carbon footprint fleet is essential,' said Sharma. 'Not only to meet our climate goals, but also to manage rising fuel costs, respond to evolving regulations and reduce greenhouse gas emissions.'
