Daily News

Economy Source: Financialpost May 02, 2023

PSAC strike may have sent economic growth into negative territory, economists say

Eight-day work action will trim 0.1 to 0.3 percentage points off gross domestic product in April Treasury Board and the union representing 122,000 striking workers resolved their differences relatively quickly, but perhaps not quickly enough to...

Source: Financialpost May 01, 2023

Why CRA denied taxpayer's medical expense claims related to moving because of disability

Jamie Golombek: Judge says taxpayer was seeking a benefit that is not provided to anyone under the Income Tax Act Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from p...

Source: BNN Bloomberg April 29, 2023

Amazon falls after warning of slowdown in cloud business growth

Amazon.com Inc. fell after warning that growth in its cloud computing business is cooling, dashing hopes that the company’s most profitable division would weather an otherwise lackluster environment for technology spending. On a conference call Thursday, a...

International Source: BNN Bloomberg April 29, 2023

Bets offering 2,400% payout on U.S. default lure growing crowd

In what is a traditionally moribund corner of Wall Street, speculators are piling into a bet that once seemed unthinkable: that the U.S. government will default on its debts.  With the Treasury Department inching ever closer to running out of cash — most e...

Market Call Source: BNN Bloomberg April 29, 2023

Darren Sissons' Top Picks: April 28

Darren Sissons, partner and portfolio manager, Campbell, Lee & Ross FOCUS: Global and technology stocks  MARKET OUTLOOK:  Surprisingly, 2023 has been a strong performance year with many mandates now at or through all-time highs. Unfortunately, the...

Source: BNN Bloomberg April 29, 2023

The Week Ahead: Inflation data due; earnings from Netflix

Monday, April 17 Notable data: Wholesale Trade, International Securities Transactions, New Motor Vehicle Sales, Empire State Manufacturing Survey, NAHB Housing Index, Foreign Purchases of U.S. Securities Notable earnings: Parkland Corp., Charles Schwa...

Source: BNN Bloomberg April 29, 2023

Strong earnings lift U.S. stocks as bank concerns loom

U.S. equities extended a rally Friday as investors wrestled with strong corporate earnings against concerns about regional banks and inflation. Treasuries rose. The S&P 500 gained 0.8 per cent after better-than-expected earnings from the likes of Exxon Mob...

Source: BNN Bloomberg April 29, 2023

TSX recap: Index finishes 0.55% higher amid gains in energy stocks

Canada's main stock index gained more than 100 points Friday on strength in the energy sector, while U.S. indexes also rose to cap off a volatile week in North American markets.  The S&P/TSX Composite Index was up 113.90 points, or 0.55 per cent, at 20,636...

Source: BNN Bloomberg April 29, 2023

First Republic plunges on expectation of seizure by FDIC

First Republic Bank shares fell as much as 54 per cent in extended New York trading on speculation that it would be seized by regulators, as regional US lenders are pressured by deposit drains and weakening investments. Regulators were poised to place the...

Source: Financialpost April 29, 2023

Ottawa posts $3.1 billion surplus for first 11 months of 2022-23 fiscal year

Compares to a deficit of $69.8 billion during the same period last year OTTAWA — The federal government posted a budgetary surplus of $3.1 billion between April 2022 and February 2023. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subsc...