Daily News

Source: BNN Bloomberg May 06, 2023

Bruised banks fuel short-covering rally in U.S. stocks

The chaotic week for financial markets ended with a rally in risk assets — possibly driven by short-covering — as regional banks rebounded from a brutal rout and solid jobs data tempered fears of a recession. Treasuries fell. A rally in equities halted the...

Source: BNN Bloomberg May 06, 2023

The Week Ahead: Earnings from Air Canada, Brookfield Asset Management, Canadian Tire

Saturday, May 6 Notable earnings: Berkshire Hathaway Berkshire Hathaway’s Annual Shareholder Meeting Monday, May 8 Notable data: Bloomberg Nanos Confidence, U.S. Wholesale Trade Notable earnings: Suncor Energy, Tyson Foods, Six Flags Ente...

Source: Financialpost May 06, 2023

Data's mixed messages complicates Bank of Canada's search for 'sweet spot'

Central bank received mixed signals about the strength of the economy this week Bank of Canada governor Tiff Macklem received mixed signals about the strength of the economy this week, further complicating an already difficult decision on wheth...

Source: Financialpost May 06, 2023

Posthaste: This Canadian province is among world's top 3 best regions for mining investment

Three provinces make top 10, according to Fraser Institute We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: This Canadian province...

Source: Financialpost May 06, 2023

'Some of you will leave Shopify today': What to know about the tech giant's latest layoffs

Canadian e-commerce company cuts 20% of workforce and sells unit once strategic to the business Two and a half months ago, Shopify Inc. president Harley Finkelstein said the company wasn’t planning any more layoffs after slashing 10 per cent of...

Source: Financialpost May 06, 2023

US Planning More 'Robots at Sea' in Middle East to Combat Iran

The US is trying to convince Middle East allies to add dozens more robot vessels around the Arabian Peninsula to better detect threats from countries like Iran, a move to protect waterways vital to global commerce and oil trade. (Bloomberg) — T...

Economy Source: Financialpost May 06, 2023

Canada gains 41,000 jobs, more than double expectations

The unemployment rate held at 5%, beating economists' forecasts that it would rise to 5.1% Canada’s economy gained 41,000 jobs in April, more than doubling expectations. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to rea...

Economy Source: Financialpost May 06, 2023

Kevin Carmichael: Jobs surge signals higher interest rates for longer — and hikes still on the table

The Bank of Canada wants to see a weaker labour market, but so far it's not happening Get the latest from Kevin Carmichael straight to your inbox Sign Up Canada’s employers defied recession talk for yet another month in April by addin...

Source: BNN Bloomberg May 05, 2023

TSX recap: Index finishes lower amid broad-based losses

Canada's main stock index was down more than 100 points Thursday amid broad-based losses, while U.S. markets were also down.  The S&P/TSX Composite Index was down 116.49 points, or 0.57 per cent, at 20,238.19. In New York, the Dow Jones Industrial Avera...

Company News Source: BNN Bloomberg May 05, 2023

TD-First Horizon collapse points to merger-arbitrage traders’ biggest fear

Merger arbitrage traders were expecting hiccups in Toronto-Dominion Bank’s proposed takeover of First Horizon Corp., but they were unprepared for what happened Thursday when the US$13.4 billion transaction melted down. The deal spread had been widening in...