Machinery Talk (39)

Trade war, heavy rains weigh on Deere & Co.

Deere cut its profit and sales expectations for the year as a trade war between the U.S. and China escalates and farmers try to recover from a planting season besieged by heavy rains.

Deere Reports Second-Quarter Net Income of $1.135 Billion

Deere & Company reported net income of $1.135 billion for the second quarter ended April 28, 2019, or $3.52 per share, compared with net income of $1.208 billion, or $3.67 per share, for the quarter ended April 29, 2018. For the first six months of the year, net income attributable to Deere & Company was $1.633 billion, or $5.07 per share, compared with $673.2 million, or $2.05 per share, for the same period last year.

Grain Growers of Canada calls on government to provide meaningful support amidst trade disruptions

Grain Growers of Canada (GGC) today called on the federal government to develop a strategy to address an increasingly unpredictable trade environment affecting the incomes of grain farmers across Canada. The strategy should recognize that China’s blocking of Canadian canola is politically motivated, which was acknowledged last week by Prime Minister Trudeau.

Gas prices, boosted by carbon levies, lift consumer prices

CPI rose by 0.4% m-o-m in April, an increase that was in line with the consensus expectation; Excluding gasoline, consumer prices were flat in the month; From a year ago, inflation was 2.0%, as expected, while the core measures of inflation were a bit lower than anticipated - by David Watt

Ontario Supporting Over 250 Local Festivals and Events

Ontario's government for the people is working to create jobs and drive local tourism by investing more than $13 million in over 250 festivals and events in communities across the province, with an additional $4 million in funding for Blockbuster events.