Daily News

Source: Financialpost February 29, 2024

Joe Oliver: Liberals need to ditch Steven Guilbeault’s radical activism

Greenlash has begun as Canadians come to understand the high cost and small benefit of environmentalist command-and-control economicsAsked how he went bankrupt, a character in Ernest Hemingway’s The Sun Also Rises answers, “Two ways. Gradually and then sudde...

Source: Financialpost February 29, 2024

What's going on at The One, Toronto's troubled $2-billion mega-tower?

Mizrahi's company ousted from condo tower project as saga continuesThe saga of the troubled condo project The One took another turn on Monday, when a court-appointed receiver announced it was removing developer Sam Mizrahi’s company from its role as construc...

Source: Financialpost February 29, 2024

Soft data bolstering Bank of Canada interest rate cuts in April, some analysts say

Economic data showing slowing economy may soon prove there’s enough disinflationary pressure to spur policymakers into actionAnalysts who expect the Bank of Canada’s first interest rate cut in April are rare — but they believe economic data may soon prove th...

Source: BNN Bloomberg February 28, 2024

Markets today: TTreasuries mixed amid another flurry of bond sales

  Wall Street saw another busy session of bond sales as issuers looked to borrow before key economic data later this week. Treasuries were mixed after a US$42 billion auction of seven-year notes and a heavy slate of new corporate debt. Seven more issuer...

Market Call Source: BNN Bloomberg February 28, 2024

Hank Cunningham's Top Picks: February 27, 2024

Hank Cunningham, fixed income strategist, Odlum Brown Limited FOCUS: Fixed income, bonds  MARKET OUTLOOK: The resilience of the U.S. economy has prompted the Federal Open Market Committee (FOMC) to maintain its monetary stance for now. While it has...

Commodities Source: BNN Bloomberg February 28, 2024

'Once-in-a-generation buy': Newmont CEO touts stock as miner attempts to raise US$2B

The head of Newmont Corp., the world’s largest gold producer, says that his company’s current stock price is the lowest it will be for a generation as the miner attempts to consolidate its collection of top-tier assets. The U.S.-based gold giant recently a...

Company News Source: BNN Bloomberg February 28, 2024

No 'meaningful uptick' expected in home improvement retail, analyst says

After Lowe’s Cos. reported its fourth-quarter earnings on Tuesday, with like-for-like sales dropping 6.2 per cent, one market analyst says these results are reflective of a high mortgage rate environment that may be causing homeowners to step back from home c...

Source: BNN Bloomberg February 28, 2024

TSX recap: Index finishes slightly lower amid bank earnings

Canada's main stock index was little changed Tuesday as bank earnings began to roll in, while U.S. markets were mixed. The S&P/TSX Composite Index was down 5.41 points at 21,318.90, or 0.03 per cent . In New York, the Dow Jones Industrial Average was do...

Company News Source: BNN Bloomberg February 28, 2024

Lowe's sales suffer as home improvement slowdown persists

Lowe’s Cos. said its sales will fall further this year as consumers continue to hold off from sprucing up their homes amid higher mortgage rates and a drop in new construction projects. Inflation and a stagnant housing market have made DIY customers “hesit...

Source: BNN Bloomberg February 28, 2024

Rising loan delinquencies bring pain to BMO, Scotiabank results

Earnings at Bank of Montreal and Bank of Nova Scotia were marred by increasingly cash-strapped consumers and businesses amid a challenging economic landscape.   The two Toronto-based banks — the first of the big Canadian lenders to report fiscal first-quar...