Daily News

Source: BNN Bloomberg August 11, 2023

U.S. stocks churn as Fed skip in sight, but no pivot

Stocks struggled for direction amid bets that even if the Federal Reserve pauses its rate hikes in September, policy will remain tight to prevent a flare-up in inflation. Treasuries fell after a weak 30-year bond auction. Wall Street’s risk-on bid faded as...

Source: BNN Bloomberg August 11, 2023

TSX recap: Index climbs 0.33% on bank, telecom stocks

Canada's main stock market index posted a small gain Thursday as it continued its climb this week, helped by strength in financial, telecom and technology stocks, while U.S. markets also rose.  The S&P/TSX Composite Index closed up 67.61 points, or 0.33 pe...

Company News Source: BNN Bloomberg August 11, 2023

Canopy Growth to continue paring down 'non-core assets' in profitability push: CEO

Following the latest set of earnings from Canopy Growth Corp., the company’s chief executive officer expects its cannabis operations will become profitable by the end of the fiscal year, as it works to reduce assets and eliminate debt.  On Wednesday, Canop...

Market Call Source: BNN Bloomberg August 11, 2023

Paul Harris' Top Picks: August 10, 2023

Paul Harris, partner and portfolio manager, Harris Douglas Asset Management FOCUS: North American and global stocks  MARKET OUTLOOK: The main issue that faces the market is inflation and interest rates. The U.S. Federal Reserve and other central ba...

Company News Source: BNN Bloomberg August 11, 2023

Sleep Country Canada earns $12.7 million in second quarter as revenues decline

Sleep Country Canada Holdings Inc. reported net income of $12.7 million in the second quarter, down from $22.7 million last year. The Toronto-based company says revenues for the quarter were $217.2 million, down 4.6 per cent from $227.6 million during the...

Source: Financialpost August 11, 2023

Joe Oliver: Liberal party culture is past its best-by date

Liberal government may be in death throes as desire for change grows in silent majority Philip Cross and I recently wrote articles on the same FP Comment page discussing Liberal culture’s negative influence on Canada’s economic growth. His focu...

Source: Financialpost August 11, 2023

Rio Tinto to build largest solar power plant in Canada's North

Plant will become operational early next year and power up to 25 per cent of Rio's Diavik diamond mine during closure work Get the latest from Naimul Karim straight to your inbox Sign Up Mining giant Rio Tinto Ltd. will build a solar...

Source: Financialpost August 11, 2023

Tax system not built to keep up with inflation — and it's hurting some Canadians more than others

Jamie Golombek: Not all taxes are indexed, creating distortions that magnify the effects of rising prices, C.D. Howe report says Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate co...

Source: BNN Bloomberg August 10, 2023

U.S. stock traders shun risk in run-up to key CPI test

A slide in big tech and higher energy prices weighed on Wall Street sentiment ahead of inflation data that will help shape the outlook for the Federal Reserve’s next steps. After briefly wiping out its losses, the S&P 500 finished near session lows. The Na...

Source: BNN Bloomberg August 10, 2023

Canada bank earnings to take hit from capital markets, M&A slump, RBC says

Slumping capital markets and M&A revenues are set to hit earnings at Canada’s biggest banks when they report this month, according to Royal Bank of Canada.   RBC analyst Darko Mihelic chopped his profit forecast on five major Canadian lenders, citing a dea...