Daily News

Source: BNN Bloomberg May 25, 2024

Markets today: U.S. stocks rise on hopes inflation pressures will ease

Stocks rose after data showed American consumers tempered inflation expectations, bolstering sentiment regarding prospects for Federal Reserve rate-cuts this year. The S&P 500 rebounded after a two-day slide. When traders come back from the holiday weekend...

Source: BNN Bloomberg May 25, 2024

The Week Ahead: Canadian bank earnings; U.S. GDP data due

Monday, May 27 U.S. markets closed for holiday Earnings: CAE Inc. Tuesday, May 28 8:30 a.m. Canada Industrial Product and Raw Materials Price Indices (April) Gildan Activewear annual meeting, incl. shareholder votes Earnings: Bank of No...

Company News Source: BNN Bloomberg May 25, 2024

Glenn Chamandy officially back at the Gildan helm after boardroom battle

Glenn Chamandy is officially back as the chief executive of Gildan after a months-long public battle over leadership of the Montreal-based clothing company he co-founded. Chamandy was terminated last year to make way for Vince Tyra, kicking off protests by...

Source: Financialpost May 25, 2024

Bank of Canada says net loss narrowed to $934 million in first quarter

Losses were down from the $1.51-billion shortfall the central bank recorded last year Get the latest from Barbara Shecter straight to your inbox Sign Up The Bank of Canada posted a narrower net loss of $934 million in the first quarter of 2024 as it c...

Source: Financialpost May 25, 2024

Jack Mintz: Capital gains tax hike will hurt the middle class, too

Almost 1.25 million Canadians will have to pay it at least once during their taxpaying lives. And it will likely hit stock prices, tooSome people never seem to learn that “history repeats itself, first as tragedy and second as farce,” as Marx wrote. That cer...

Source: Financialpost May 25, 2024

How Wealthsimple is trying to beat the big banks at their own mortgage game

Rob McLister: I’ve seen mortgage cashback gimmicks in the past, but this one is more interestingHow would you like to get two-thirds of the interest back on your mortgage? We apologize, but this video has failed to load. Try refreshing your browser, o...

Economy Source: Financialpost May 25, 2024

Canada's retail sales jump 0.7% in April after weak first quarter

Auto and parts sales led the gainsCanadian consumer spending sharply rebounded last month, according to preliminary data, after weaker-than-expected retail sales in the first quarter. We apologize, but this video has failed to load. Try refreshing you...

Economy Source: Financialpost May 25, 2024

Canada is probably already in recession, says David Rosenberg

Top economist says Canadian economy is — in one word — weakEconomist David Rosenberg, founder and president of Rosenberg Research, talks with Financial Post’s Larysa Harapyn about the state of the Canadian economy and how the Bank of Canada should cut intere...

Source: BNN Bloomberg May 24, 2024

Nvidia stock surges as sales forecast delivers on AI hopes

Shares of Nvidia Corp., the chipmaker at the center of an artificial intelligence boom, surged on Thursday after a bullish sales forecast showed that AI computing spending remains strong. Second-quarter revenue will be about US$28 billion, the company said...

Source: BNN Bloomberg May 24, 2024

China exposure tumbles to 5% at Canada Pension as geopolitical risks rise

Canada Pension Plan Investment Board’s exposure to investments in yuan has fallen by half in just two years, as the money manager pulls back in the world’s second-largest economy because of higher risks.  Canada’s biggest pension fund held five per cent of...