Synopsys Completes Acquisition of Ansys
News Highlights:
SUNNYVALE, Calif., July 17, 2025 /CNW/ -- Synopsys (Nasdaq: SNPS) today announced the completion of its acquisition of Ansys. The transaction, which was announced on January 16, 2024, combines leaders in silicon design, IP and simulation and analysis to enable customers to rapidly innovate AI-powered products. Synopsys is now positioned to win in an expanded $31 billion total addressable market (TAM). 1
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CTV News
23 minutes ago
- CTV News
Bank of Canada widely expected to hold key rate steady amid trade uncertainty
The Bank of Canada is set to deliver an interest rate decision on Wednesday. Bank of Canada Governor Tiff Macklem is seen during a news conference, in Ottawa, Wednesday, June 4, 2025. THE CANADIAN PRESS/Adrian Wyld OTTAWA — Avery Shenfeld doesn't think the Bank of Canada will cut its benchmark interest rate at its decision on Wednesday, but if it does, he said it will be a 'pleasant surprise.' 'There's always a chance that they'll surprise with the rate cut,' the chief economist of CIBC said. 'But I'm not holding out that much hope.' Most economists are also expecting the Bank of Canada will hold its policy rate steady at 2.75 per cent for a third consecutive decision later this week. As of Friday afternoon, financial markets were placing odds of a quarter-point rate cut on Wednesday at just seven per cent, according to LSEG Data & Analytics. Stubbornness on the inflation front and surprise strength in the labour market have quashed arguments for further easing since the central bank's June decision. The Canadian economy gained an unexpected 83,000 jobs in June, Statistics Canada reported earlier this month, driving the unemployment rate lower for the first time since January. A few days later, StatCan reported annual inflation ticked up to 1.9 per cent last month while the Bank of Canada's closely watched core inflation figures held stubbornly around three per cent. 'Overall, sticky inflation readings, a weakening but relatively resilient economic backdrop and prospects for larger fiscal spending are reasons why we do not expect the BoC will cut again in this cycle,' RBC economists Claire Fan and Abbey Xu wrote in a note Friday. But Shenfeld's call for a lower policy rate — CIBC expects two more quarter-point drops before the Bank of Canada is done — isn't based on what's happened in the economy, it's about what's on the horizon. Outside of the June jobs jump, the labour market is still broadly weak with the unemployment rate at 6.9 per cent, Shenfeld noted. He also expects Canada's tariff dispute with the United States led to an economic contraction in the second quarter of the year. All told, there's enough 'slack' building in the economy to take steam out of inflation in the months to come, Shenfeld said. The Bank of Canada's own second-quarter business outlook survey released last week suggests that many firms are opting to absorb higher costs from tariffs, rather than pass them on to consumers who may be reining in spending amid economic uncertainty. Shenfeld said that's a sign that tariff impacts 'won't extend into a more persistent inflation issue.' He said that once the central bank gains enough confidence that any tariff-induced inflation pressures will be short-lived, monetary policymakers should feel confident enough to lower interest rates. 'I think at this point they know enough to rule out the worst-case scenario on trade,' Shenfeld said. Bank of Canada governor Tiff Macklem has explicitly said monetary policymakers are being less forward-looking than usual in the trade war. The central bank didn't publish a traditional forecast for the economy in its April monetary policy report, instead offering two scenarios for how tariffs could hit the economy. Jimmy Jean, chief economist at Desjardins, said he believes the Bank of Canada will have gathered enough clarity on the trade front to return to formal forecasts in this week's MPR. 'The uncertainty is there for everyone to recognize. But there's a point where you've got to sort of, stick your neck out and make the proper caveats,' Jean said. Tariff deadlines continue to hover over the Bank of Canada's head — U.S. President Donald Trump has threatened to levy tariffs of 35 per cent on Canadian imports starting Friday if a trade deal isn't reached before then, though CUSMA-compliant goods are expected to be exempt from the duties. Some forecasters, including RBC, expect the Bank of Canada is already done rate cuts and will turn the job of stimulating the economy through the trade war over to federal and provincial governments. While Jean also believes the central bank will opt to hold rates again on Wednesday, he said the bank's next decision in September is an 'open possibility' for a cut. Trump's sectoral tariffs targetting Canada's steel, aluminum and copper industries are of particular concern for Ontario and Quebec, Jean said. If those tariffs are sustained, he argued more rate cuts from the Bank of Canada will be warranted to cushion the economic hit. In addition to some sector-specific relief, the federal government has moved in recent months to ramp up Canada's defence and infrastructure funding — spending that could offer fiscal, rather than monetary, support for the economy. But Jean said Desjardins is expecting that lift to come over the ensuing years, not months, opening a window for the Bank of Canada to lower rates in the near-term. 'We think, despite those measures being in the pipeline, the Bank of Canada will still in September have a valid reason to cut interest rates,' he said. This report by The Canadian Press was first published July 28, 2025. Craig Lord, The Canadian Press
Globe and Mail
23 minutes ago
- Globe and Mail
Elon Musk Thinks Tesla Will Become the World's Most Valuable Company. I Predict Its Stock Could Plunge by 70% (or More) Instead.
Key Points Elon Musk thinks autonomous vehicles and humanoid robots could make Tesla the most valuable company in the world one day. He might be right, but those product platforms are still years away from generating meaningful revenue, and Tesla's core business is faltering. To make matters worse, Tesla stock is trading at a sky-high valuation that could pave the way for a sharp correction. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) is one of the world's largest manufacturers of electric vehicles (EVs), but its CEO, Elon Musk, is no longer focused on just selling cars. He's preparing the company for an autonomous future by directing its resources into its full self-driving (FSD) software, its Cybercab robotaxi, and its humanoid robot named Optimus. Musk believes Tesla will become the world's most valuable company by far if those product platforms are successful. But in the here-and-now, 74% of Tesla's total revenue still comes from its EV business, where sales are declining at an alarming pace. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Musk held a conference call with investors last Wednesday to discuss Tesla's progress during the second quarter of 2025 (which ended on June 30). His comments suggest that it will be a long time before products like the Cybercab and Optimus are generating enough revenue to offset the struggling EV business, so here's why I predict Tesla stock could plunge by 70% (or more) in the meantime. Tesla's EV deliveries continue to sink Tesla is off to a rough start to 2025. It delivered 720,803 EVs during the first six months, which was a 13% decline compared to the same period last year. The drop in sales had a significant impact on the company's total revenue, which suffered a 9% year-over-year decline during the first quarter, followed by an accelerated drop of 12% in the second quarter. Competition is a big reason for Tesla's sluggish sales. While the company's Model Y remains the best-selling car in a handful of countries, consumers more broadly seem to be flocking to other brands. In Germany, for example, Tesla's sales crashed by 60% in June, despite EV sales growing by 8.6% across the country overall. In other words, Tesla is rapidly losing market share in Europe's largest car market. Affordability seems to be a major factor for consumers. China-based BYD sells its entry-level Dolphin Surf EV for around $26,000 in Europe, whereas Tesla's Model 3 (its cheapest EV) starts at $40,000. BYD's sales exploded fourfold in Germany during June, compared to the year-ago period. Fortunately, Tesla plans to release a low-cost EV to compete. It was reportedly designed on the flagship Model Y platform, minus all of its premium features to bring the price down. It just entered production, but only time will tell whether it's enough to pull Tesla's EV business out of its slump. Tesla's robotaxi business is still too small to offset weak EV sales Elon Musk believes the future of Tesla's car business is autonomous. In June, the company launched a supervised, invite-only version of its planned autonomous ride-hailing platform, using its passenger EVs (like the Model Y) with its FSD software installed. They are completing autonomous trips around Austin, Texas, right now, with a human in the passenger seat to keep an eye on things. The test lays a foundation for the rollout of the Cybercab, which is a purpose-designed robotaxi that won't have pedals or even a steering wheel. It will go into mass production next year, and Musk's goal is to have millions of them hauling passengers and even small commercial loads all day and night, earning revenue for Tesla around the clock. Regulators currently stand in the way of a broad robotaxi rollout. Tesla's FSD platform doesn't have approval for unsupervised use in any U.S. states right now, but Musk is hopeful that will soon change. In fact, he believes the company's robotaxi business could have enough coverage to serve half of the entire U.S. population by the end of 2025, likely using a mix of passenger EVs and early versions of the Cybercab. However, during a conference call with investors for the second quarter of 2025, Tesla's Vice President of artificial intelligence, Ashok Elluswamy, said only a "handful" of passenger EVs are currently deployed in Austin for the test program. He did say the operating region around Austin will soon expand tenfold, which should put more cars on the road, but it places the company significantly behind the competition. Alphabet 's Waymo, for instance, is already completing over 250,000 paid autonomous trips every week across five U.S. cities completely unsupervised. The idea that Tesla can go from a handful of cars in Austin to serving half of the U.S. population within the next five months -- leapfrogging Waymo in the process -- feels very unrealistic. Tesla's sky-high valuation sets up a potential crash of 70% Tesla's earnings per share (EPS) sank by 18% year over year during the second quarter, which followed a 71% drop in the first quarter. Its trailing-12-month EPS now stands at $1.67, placing its stock at an eyewatering price-to-earnings (P/E) ratio of 180.7. That makes Tesla five times more expensive than the Nasdaq-100 technology index, which trades at a P/E ratio of 32.5. It's also three times more expensive than Nvidia -- one of the world's highest-quality and fastest-growing companies -- which trades at a P/E ratio of 54.3. If Tesla's earnings continue to shrink, which seems likely based on the state of its EV sales, then its P/E ratio is going to keep climbing unless its stock price plunges. As things stand today, Tesla stock would have to plummet 70% just for its P/E ratio to match Nvidia's (and even further to match the Nasdaq-100). I think that's a real possibility in the near term. The picture might look a little different for investors who are willing to hold Tesla stock for the long term. Dan Ives from Wedbush Securities thinks the company's robotaxi business presents a trillion-dollar opportunity, but that figure might be conservative if it winds up serving half the U.S. population eventually. Then there is the Optimus humanoid robot, which could be a hot product in every manufacturing facility and even in every household one day. It's still an early-stage product, but Tesla just announced version three, which irons out some of the kinks from the previous models. Musk thinks Tesla will be producing 1 million Optimus robots annually five years from now, and he previously said this product could deliver $10 trillion in revenue for the company over the long term. Investors who believe in Tesla's futuristic product platforms could be handsomely rewarded in the long run if they buy the stock right now, despite its sky-high valuation. However, I think patient investors might get a cheaper entry point in the coming months. Don't miss this second chance at a potentially lucrative opportunity Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $449,961!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $40,603!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $636,628!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon. See the 3 stocks » *Stock Advisor returns as of July 21, 2025
Globe and Mail
23 minutes ago
- Globe and Mail
The state of Canadian tourism in the ‘elbows up' moment
Travel to the U.S. has plummeted ever since President Donald Trump started talking about annexing Canada and imposing tariffs on us. Politicians on this side of the border are embracing the moment, encouraging people to take trips closer to home. So how is it all working out for Canadian tourism? The Globe's Jason Kirby, who writes for the Report on Business, joins us to talk about what this summer looks like for Canada's travel sector. Questions? Comments? Ideas? Email us at thedecibel@
