Daily News

Source: BNN Bloomberg January 11, 2024

SEC authorizes Bitcoin-spot ETFs in crypto's big breakthrough

U.S. regulators for the first time approved exchange-traded funds that invest directly in Bitcoin, a move heralded as a landmark event for the roughly US$1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street a...

Source: Financialpost January 11, 2024

America is headed for a debt crisis like Canada's in the '90s, warn veteran politicians

David Dodge and John Manley, who helped steer this country back to safety, say U.S. must act fast, even if it’s politically risky Get the latest from Barbara Shecter straight to your inbox Sign Up Two former heavyweights in Canadian politics say the U...

Source: Financialpost January 11, 2024

Mortgage payments set to jump $400 a month, but Canadians can cope, say banks

Big bank CEOs confident rate hikes won’t crush customers or lead to wave of defaultsWith about 14 per cent of Canadians with mortgages set to renew their loans this year, the chief executives of the country’s big banks say they’re confident the resulting int...

Source: Financialpost January 11, 2024

Terence Corcoran: It's time for the abdication of King Trudeau II

Without change at the top, the outlook for Canada is grimThrough more than eight years since Justin Trudeau named his first Liberal cabinet on Nov. 4, 2015, Canada’s economic and social trajectory has been steadily downward, a trend that was entirely predict...

Source: BNN Bloomberg January 10, 2024

Markets today: U.S. stocks struggle after tech-led bounce; oil climbs

Stocks struggled to gain traction day after a tech-led rally as Treasury 10-year yields remained above 4 per cent. Oil climbed. Commodity and financial shares led declines in the S&P 500. The megacap space was mixed, with Nvidia Corp. up and Tesla Inc. dow...

Source: BNN Bloomberg January 10, 2024

Analyst lays out a downside case for Nvidia shares

As Nvidia Corp.’s share price rises, a software analyst is laying out a possible scenario where the stock loses as much as 20 per cent of its value.  Gil Luria, senior software analyst at D.A. Davidson, told BNN Bloomberg that chipmaker Nvidia is a good co...

Source: BNN Bloomberg January 10, 2024

TSX recap: Index finishes lower amid losses in financial stocks

Weakness in financial stocks Tuesday weighed on Canada's main stock index, which lost more than 100 points, while U.S. markets were mixed.  The S&P/TSX Composite Index closed down 103.93 points, or 0.49 per cent, at 20,970.98. In New York, the Dow Jones...

Source: Financialpost January 10, 2024

Joe Oliver: 2024 could be a pivotal year, politically, economically and culturally

There are signs that cancel culture is in decline and it's possible to say things again that everyone knows to be trueThe year just beginning could be a watershed, with turning points in politics, economics and culture, provided common sense and moral clarit...

Source: Financialpost January 10, 2024

One in five restaurants in Canada at risk as CEBA deadline looms, say advocates

Industry groups call for Ottawa to delay repayment of pandemic loansThe food service industry could be decimated by a wave of closures if the federal government does not extend the Jan. 18 deadline for the repayment of loans under the Canada Emergency Busine...

Source: Financialpost January 10, 2024

'We can't wait to close this': HSBC takeover will bring significant cost savings, says RBC chief

Dave McKay says bank aims to consolidate work on both sides of border to save moneyRoyal Bank of Canada chief executive Dave McKay says he is eager for his bank’s takeover of HSBC’s Canadian operations to close so they can begin an integration that he expect...