Daily News

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...

Source: Financialpost April 29, 2023

Posthaste: Gen X snapping up cottages amid $1-trillion wealth transfer from baby boomers

Cohort drove activity in 91% of regions surveyed by Re/Max We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Gen X snapping up cotta...

Source: Financialpost April 29, 2023

'50% correction': Why Canada's office real estate sector is heading for a reckoning

High interest rates and rising vacancies are sending tremors through the sector Get the latest from Barbara Shecter straight to your inbox Sign Up Publicly traded office real estate trusts have seen their values drop precipitously in...

Economy Source: Financialpost April 29, 2023

Canadian economy seen shrinking after February growth falls short of expectations

Statistics Canada estimates growth dipped into the red in March OTTAWA — The Canadian economy grew 0.1 per cent in February from January, less than expected, and the gross domestic product likely contracted in March, Statistics Canada data show...

Source: BNN Bloomberg April 28, 2023

U.S. tech shares surge on earnings; Treasuries retreat

U.S. equities rose the most since January and Treasuries retreated Thursday after solid earnings from technology companies blotted out the impact of a report showing slowing economic growth and higher-than-forecast inflation. The S&P 500 jumped 2.0 per cen...

Source: BNN Bloomberg April 28, 2023

​TSX recap: Index finishes higher amid gains in financials stocks

Canada's main stock index rose more than 150 points with broad-based gains led by financials, health care and metals, while U.S. markets posted strong gains as tech stocks continued to impress during earnings season.  The S&P/TSX Composite Index was up 155...

Source: BNN Bloomberg April 28, 2023

​Why this market expert is bullish on tech stocks

Technology stocks have suffered a major blow within the last year but the sector is gaining once again as several industry heavyweights post strong earnings results.    Speaking with BNN Bloomberg’s Amber Kanwar on Thursday, Pete Najarian, co-founder of Mark...

Source: BNN Bloomberg April 28, 2023

Amazon surges after profit, cloud-unit sales top estimates

Amazon.com Inc. reported quarterly profit that topped estimates as cost cuts and surprisingly strong sales in the cloud-computing division helped the e-commerce giant weather an uncertain economy. The shares were little changed in extended trading, giving bac...

Source: BNN Bloomberg April 28, 2023

Snap falls after posting revenue decline on advertising weakness

Snap Inc. reported its first-ever decline in quarterly revenue after making major changes to its advertising tools. Shares plunged. The maker of the Snapchat app said first-quarter revenue fell 7 per cent to US$988.6 million. That missed the average analys...