logo
Alberta government walks back beer tax hike citing tariffs, need to support business

Alberta government walks back beer tax hike citing tariffs, need to support business

CTV News6 days ago

Alberta has ditched a brand new fee schedule for beer makers citing U.S. tariffs and a need to support business growth. A bartender pours a craft beer in Buffalo Grove, Ill., Thursday, Feb. 9, 2022. THE CANADIAN PRESS/AP/Nam Y. Huh
Alberta's government has ditched a new fee schedule for breweries that would have seen the province's oldest beer maker pay significantly more in taxes.
The schedule was introduced in February and it substantially lowered the production threshold breweries needed to hit before they had to pay higher fees to the government.
Service Alberta Minister Dale Nally said at the time that the fee hike was supposed to protect small breweries and that '99 per cent' of companies wouldn't pay more.
Calgary-based Big Rock Brewery didn't fall under the 99 per cent, and the company calculated it was going to pay $1.4 million more every year.
Nally's office says the government decided to lower the fees in light of U.S. tariffs and to ensure small breweries are supported as they grow.
The province replaced the fee system as of June 1 in favour of a schedule of more gradual increases.
This report by The Canadian Press was first published June 5, 2025.
Jack Farrell, The Canadian Press

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oracle Stock (ORCL) Is About to Report Q4 Earnings Tomorrow. Here Is What to Expect
Oracle Stock (ORCL) Is About to Report Q4 Earnings Tomorrow. Here Is What to Expect

Globe and Mail

timean hour ago

  • Globe and Mail

Oracle Stock (ORCL) Is About to Report Q4 Earnings Tomorrow. Here Is What to Expect

Technology company Oracle Corporation (ORCL) is scheduled to announce its results for the fourth quarter of FY25 tomorrow, June 11. Oracle stock has rallied over 42% in the past year, fueled by strength in cloud infrastructure and its AI-driven services. Wall Street analysts expect the company to report earnings of $1.64 per share, reflecting about 1% year-over-year growth. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Meanwhile, revenues are expected to grow by 9% from the year-ago quarter to $15.58 billion, according to data from the TipRanks Forecast page. The expected growth is mainly due to strong demand for Oracle's cloud services, especially as more users turn to it for generative AI work. It's important to note that Oracle has outperformed EPS estimates in six out of the past nine quarters. Analyst s' Views Ahead of ORCL's Q4 Print Ahead of the Q4 report, Jefferies analyst Brent Thill sees more upside for Oracle stock, driven by strong momentum in the company's RPO (remaining performance obligations). This metric shows how much future revenue Oracle has locked in through signed deals. The 5-star analyst noted that RPO growth has been a key bright spot over the past four quarters. For Q4, Thill expects strong seasonal bookings, with Street estimates pointing to 40% growth, or about $137 billion. Meanwhile, Cantor Fitzgerald analyst Thomas Blakey maintained a Buy rating on Oracle with a $175 price target. He said recent checks were strong, with Oracle doing well in moving workloads to its cloud unit, OCI. He pointed to Oracle's edge in AI tools due to its innovative chips, strong safety tools, and easy access to GPUs. Blakey added that Oracle has been gaining ground in the cloud space, with business picking up in the fourth quarter after a slow Q3. According to Main Street Data, Oracle's Cloud and License unit grew 12% year-over-year. The jump was led by strong demand for Oracle Cloud Infrastructure (OCI) and key business apps. Options Traders Anticipate a Large Move Using TipRanks' Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don't worry, the Options tool does this for you. Indeed, it currently says that options traders are expecting a 7.64% move in either direction. Is Oracle a Good Stock to Buy Now? Overall, Wall Street has a Moderate Buy consensus rating on ORCL stock, based on 16 Buys and 14 Holds assigned in the last three months. The average Oracle stock price target of $180.08 implies about 2% upside potential from current levels. See More ORCL Analyst Ratings

New Buy Rating for Apple (AAPL), the Technology Giant
New Buy Rating for Apple (AAPL), the Technology Giant

Globe and Mail

timean hour ago

  • Globe and Mail

New Buy Rating for Apple (AAPL), the Technology Giant

J.P. Morgan analyst maintained a Buy rating on Apple (AAPL – Research Report) today and set a price target of $240.00. The company's shares closed yesterday at $201.45. Confident Investing Starts Here: Chatterjee covers the Technology sector, focusing on stocks such as Apple, Coherent Corp, and Cisco Systems. According to TipRanks, Chatterjee has an average return of 11.3% and a 59.51% success rate on recommended stocks. In addition to J.P. Morgan, Apple also received a Buy from TD Cowen's Krish Sankar in a report issued today. However, yesterday, UBS reiterated a Hold rating on Apple (NASDAQ: AAPL). Based on Apple's latest earnings release for the quarter ending March 29, the company reported a quarterly revenue of $95.36 billion and a net profit of $24.78 billion. In comparison, last year the company earned a revenue of $90.75 billion and had a net profit of $23.64 billion Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Last month, Chris Kondo, the CAO of AAPL sold 4,486.00 shares for a total of $933,940.34.

‘It's Only Just Begun,' Says Investor About Tesla Stock
‘It's Only Just Begun,' Says Investor About Tesla Stock

Globe and Mail

timean hour ago

  • Globe and Mail

‘It's Only Just Begun,' Says Investor About Tesla Stock

There are many things to say about Elon Musk and Tesla, Inc. (NASDAQ:TSLA), but boring is certainly not one of them. Musk and his company are in the headlines seemingly every day, for better or for worse. Confident Investing Starts Here: Most recently, last week's very public, social media-fueled split between Musk and his previous pal President Donald J. Trump caused TSLA stock to fall precipitously, though it has clawed back some of these losses over the past few days. This broke a largely positive trend for TSLA, which over the past month and a half had been floating upwards. Indeed, it was Musk's admission in the company's Q1 2025 earnings report towards the end of April – in which he shared that he would be cutting down on most of his DOGE-related duties to focus on his private sector ventures – which sparked the recent bull run. All told, the company's share price has lost almost a quarter of its value year-to-date. One investor known by the pseudonym Cash Flow Venue thinks that the TSLA has farther to fall – and Musk bears a large chunk of the blame. 'The crash has just begun,' asserts the investor. 'I think Elon is a disaster for Tesla's brand and its global perception by customers.' Cash Flow Venue further explains that Musk's strong support of Trump has alienated the majority of progressive voters. Unfortunately for Tesla, these seem to be the consumers most likely to purchase an EV. Moreover, the slowing sales are not confined to the U.S. but are being felt throughout the global marketplace. Cash Flow Venue cites a litany of depressing figures from around the world for Tesla's EVs, including year-over-year sales decreases of 68% in Portugal, 67% in France, and ~54% in Sweden. On top of that, Trump administration policies are not helping matters, notes the investor, pointing to the fairly straightforward connection between the prospective end of EV tax incentives and a decline in demand. With so much going wrong for the company, Cash Flow Venue notes that TSLA's high valuation is therefore pretty 'counterintuitive.' 'Given high valuation multiples, declining sales, and mounting risks, I maintain a Strong Sell rating on TSLA stock,' sums up Cash Flow Venue. (To watch Cash Flow Venue's track record, click here) On the other hand, Wall Street has decidedly mixed opinions about TSLA. With 14 Buys, 12 Holds, and 10 Sells, TSLA has a consensus Hold (i.e. Neutral) rating. Its 12-month average price target of $281.77 has a downside of ~9%. (See TSLA stock forecast) To find good ideas for AI stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store