Daily News

Source: Bankofcanada May 30, 2024

Future-proofing our payments systems

Executive Director of Payments, Supervision and Oversight Ron Morrow talks about how payments have evolved in Canada and why it’s important to modernize our paymen...

Source: Financialpost May 30, 2024

Howard Levitt: Recent rulings mean terminated employees may not need proof of distress for damages claims

This section is Presented This section was produced by the editorial department. The client was not given the opportunity to put restrictions on the content or review it prior to publication. by Workday Workday Employers should be extra cautiou...

Source: Financialpost May 30, 2024

What's going on at Red Lobster and is the endless shrimp promotion to blame?

The seafood chain has 27 locations in Canada, primarily in Ontario, but has four in Alberta, two in Saskatchewan and one in ManitobaAfter filing for bankruptcy in the U.S. this month, the future of the beleaguered seafood restaurant chain Red Lobster is up i...

Source: Financialpost May 30, 2024

BMO lowers rate-cut expectations amid mixed second quarter results

Higher provisions for credit losses caused bank to fall short of analyst estimates Get the latest from Barbara Shecter straight to your inbox Sign Up The effects of “higher for longer” interest rates dampened an otherwise strong operating quarter for...

Source: BNN Bloomberg May 29, 2024

Wall Street moves to fastest settlement of trades in a century

The U.S. stock market is finally as fast as it was about a hundred years ago. That was the last time share trades in New York settled in a single day, as they will from Tuesday under new U.S. Securities and Exchange Commission rules. The change, halving th...

Source: BNN Bloomberg May 29, 2024

GameStop shares rally as video game retailer raises nearly US$1B

GameStop Corp. shares extended gains in premarket trading on Tuesday after the video game retailer said it brought in nearly US$1 billion from a share sale program amid renewed interest for the so-called meme stock. Shares of the Grapevine, Texas-based com...

Company News Source: BNN Bloomberg May 29, 2024

Banks start bond sale for Roark's Subway sandwich chain LBO

Sandwich chain Subway is selling US$3.35 billion of asset-backed securities to help fund its buyout, marking the largest securitization of its kind on record. The sandwich maker is selling a whole business securitization, where a company pledges most of it...

Source: BNN Bloomberg May 29, 2024

DraftKings falls as Illinois nears sports betting tax hike

DraftKings Inc. and FanDuel-owner Flutter Entertainment Plc fell on Tuesday after the Illinois Senate passed legislation that would raise taxes on sports betting. The bills would make the sports gambling tax, which is currently 15 per cent, to a new gradua...

Source: BNN Bloomberg May 29, 2024

Markets today: Treasuries hit as U.S. sales struggle to lure buyers

(Bloomberg) -- The world’s biggest bond market sold off after weak Treasury sales, with traders also weighing mixed economic data and remarks from Federal Reserve speakers for clues on the policy outlook. Treasuries extended losses after the U.S. sold US$7...

Source: BNN Bloomberg May 29, 2024

Nvidia surges for third day as earnings rally tops US$460 billion

Nvidia Corp. shares are surging for a third day as Elon Musk fueled the artificial-intelligence frenzy by accelerating his challenge of OpenAI, extending a post-earnings rally that’s added some US$470 billion to the chipmaker’s market capitalization.  Nvid...