Housing agency says home construction picked up in July
OTTAWA - The federal housing agency says home construction picked up last month.
Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate of housing starts increased to 222,324 units in July, up from 212,948 in June.
The annual pace of urban home construction increased by 5.5 per cent to 206,122 units, driven by a rise in multiple urban starts - generally apartment buildings, townhouses and condominiums while single, detached home starts slowed. Multiple urban starts increased by 10.4 per cent to 141,950 while singledetached urban starts fell by 3.9 per cent to 64,172. Rural starts were estimated at a seasonally adjusted annual rate of 16,202 units. The six-month moving average of the monthly seasonally adjusted annual rates increased to 217,550 in July compared with 215,175 in June.
PokerStars reports jump in profit, raises earnings estimate
TORONTO - The owner of PokerStars and other online gaming businesses is reporting a dramatic increase in profit for the second quarter and improved expectations for 2017 adjusted earnings as its evolution gains momentum.
The former Amaya Inc., now called the Stars Group Inc. (TSX:TSGI), says it had US$70.5 million of net income during the quarter and US$114 million of adjusted earnings.
The net income was equal to 35 U.S. cents per share - about three times higher than last year’s second quarter - and adjusted earnings were up 22 per cent at 56 U.S. cents per share. Revenue was up 6.8 per cent at US$305.3 million.
The company also announced that it estimates 2017 revenue, reported in U.S. currency, will be at the upper end of its previous range of between $1.2 billion and $1.26 billion.
It also has revised 2017 estimated adjusted earnings range upward to between $413 million and $437 million, from $400 million to $430 million.