Daily News

Source: Financialpost May 17, 2024

CRA denies taxpayer's medical expense credit for his visiting father's hospital stay

When his father fell ill while visiting Canada, son faced almost $19,000 in medical bills with no tax reliefReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made throu...

Source: Financialpost May 17, 2024

Posthaste: Canada's standard of living on track for worst decline in 40 years

Slump in GDP per person threatens to be longest and largest since 1985, says study We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Canada's standard of living on...

Source: BNN Bloomberg May 16, 2024

GameStop, AMC shares plunge as two-day meme rally evaporates

The meme rally that added about US$11 billion in value to GameStop Corp. and AMC Entertainment Holdings Inc. in the first two days of the week faltered Wednesday, wiping out a chunk of the gains. GameStop fell 19 per cent on Wednesday, the most since 2021....

Company News Source: BNN Bloomberg May 16, 2024

Tesla board rallies retail investors to vote for Musk's US$56 billion pay package

Tesla Inc. is looking to woo its unusually large base of retail investors to get approval for Chief Executive Officer Elon Musk’s US$56 billion pay package. To help lead that drive, the company's board has hired a strategic adviser, according to a person f...

Source: BNN Bloomberg May 16, 2024

Netflix nears deal for NFL games, extending push into sports

Netflix Inc. will air two National Football League games this Christmas Day, in the streaming TV giant’s latest push into live events. The three-season pact will also see Netflix host at least one Christmas game in both 2025 and 2026, the league and the co...

Market Call Source: BNN Bloomberg May 16, 2024

Greg Newman's Top Picks: May 15, 2024

Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod FOCUS: North American equities and dividend stocks  MARKET OUTLOOK: Markets are excited about a re-acceleration in earnings growth combined with eventual interest...

Source: BNN Bloomberg May 16, 2024

Goldman selling high-grade bonds for third time since March

Goldman Sachs Group Inc. sold US$3.5 billion in bonds Wednesday, the third time the company or one of its units has borrowed in the investment-grade market in just over two months.  The bonds were issued by unit Goldman Sachs Bank USA and include both fixe...

Source: BNN Bloomberg May 16, 2024

GameStop's window to cash in on the meme stock rally is closing

A raucous two-week stretch for GameStop Corp. has more than tripled its share price, but the company itself hasn’t taken advantage of the surge by selling stock — and the explanations about why are wide-ranging. Unlike AMC Entertainment Holdings Inc., a fe...

Source: BNN Bloomberg May 16, 2024

Polar Asset raises US$300 million fund for booming credit trade

Canada’s Polar Asset Management Partners Inc. raised US$300 million for a fund that will invest in credit risk transfers, taking advantage of a trend that sees banks offloading risk into a fast-growing corner of the credit markets.   The fund offers instit...

Source: BNN Bloomberg May 16, 2024

BMO sees stock rally raging on, lifting S&P 500 target to 5,600

With the S&P 500 Index setting all-time highs, BMO Capital Markets is predicting even more gains through the end of 2024. Brian Belski, the firm’s chief investment strategist, lifted his year-end forecast on the U.S. equity benchmark to 5,600, the highest...