• Reuters

    US STOCKS-Nasdaq, S&P stumble as Netflix, chip stocks drag; AmEx boosts Dow

    The Nasdaq and the S&P 500 fell on Friday, as Netflix weighed but American Express kept the Dow on the plus side after quarterly earnings from each, while growing pessimism that the Federal Reserve would cut interest rates soon also dented sentiment. Netflix slumped 8.77% as one of the bigger drags on the benchmark S&P index and Nasdaq after the video streaming company's second-quarter revenue view fell short of analysts' expectations while the company also unexpectedly said it would no longer provide subscriber counts.

  • Reuters

    CANADA FX DEBT-C$ notches weekly gain as market works off oversold position

    The Canadian dollar strengthened against its U.S. counterpart on Friday as oil prices rose and the market took stock of recent losses for the currency, but the move was limited following the recent move in yield spreads in favor of the greenback. "The Canadian dollar coming back somewhat is simply technical from an oversold market," said Michael Goshko, senior market analyst at Convera Canada. The slowdown in Canadian inflation has contrasted with the recent heating up of U.S. price pressures, raising bets the Bank of Canada would begin easing interest rates before the Federal Reserve.

  • CBC

    Major zoning shift would axe minimum parking, allow denser housing, save trees

    The City of Ottawa is looking to eliminate minimum parking rules, save space for trees and allow more neighbourhood-based businesses through a major rewrite of its zoning bylaw.It's only a first draft that must now go through about a year and a half of public consultation, redrafting and voting at council and its committees, but Coun. Jeff Leiper said it goes a long way to meeting the city's development goals."This zoning bylaw obviously allows considerably more density right across the city," s