Lütke takes on the troll
Shareholders will be all ears on Tuesday when Shopify Inc.’s chief executive Tobias Lütke holds a conference call to discuss third-quarter results. Lütke promised earlier this month to address comments by Andrew Left of Citron Research, whom he referred to as a “short-selling troll” after Citron suggested Shopify was running what it called an overvalued get-rich-quick scheme.
Stranzl to open up on demise of Sears
Brandon Stranzl, former executive chairman of Sears Canada, is scheduled speak to media on Monday regarding the liquidation of Sears Canada’s remaining stores. Stranzl led an unsuccessful push to buy the retailer. The company has faced harsh criticism from laid-off employees over the size of retention bonuses offered to executives to see the liquidation process through.
Morneau to face Senate committee over tax reform
Federal Finance Minister Bill Morneau will appear at the Senate national finance committee to explain his proposed changes to the Income Tax Act. The committee is looking into the potential impact of the proposed changes on incorporated small businesses and professionals, economic growth and government finances, and the fairness of taxation of different types of income.
Bank of Canada governor Stephen Poloz and senior deputy governor Carolyn Wilkins will appear at the Commons finance committee on Tuesday and the Senate’s committee on banking, trade and commerce on Wednesday. The central bank kept its key interest rate unchanged at its last rate announcement, but suggested future increases are still likely, albeit at a more-gradual pace.
And, more earnings
Corporate earnings continue throughout next week, with some of Canada’s heaviest hitters reporting quarterly results, including WestJet Airlines Ltd., TransAlta Corp, Molson Coors Brewing Co., Hudbay Minerals Inc., Torstar Corp., Brookfield Property Partners, BCE Inc. and Bombardier Inc.