Daily News

Economy Source: Financialpost June 28, 2023

Inflation slows to 3.4% in May

Inflation cooled significantly on lower gas prices After a brief uptick in April, inflation slowed in May due to lower gasoline prices and base-year effects, easing pressure on the Bank of Canada as it attempts to bring price growth back to its...

Source: BNN Bloomberg June 27, 2023

U.S. tech stocks slide as traders rein in rate cut bets

U.S. stocks fell while government bonds advanced as traders unwound bets the Federal Reserve will cut interest rates this year. The Nasdaq 100 dropped 1.4 per cent Monday, sliding for a second day after suffering its worst week since March. Profit taking i...

Market Call Source: BNN Bloomberg June 27, 2023

Keith Richards' Top Picks: June 26, 2023

Keith Richards, president and chief portfolio manager, ValueTrend Wealth Management FOCUS: Technical analysis MARKET OUTLOOK: The U.S. market is in a yin-yang situation. On the positive side, a technical breakout on the S&P 500 (SPX) and the Nasdaq...

Source: BNN Bloomberg June 27, 2023

Banks poised to withstand rising mortgage debt: Equity analyst

As higher borrowing costs drive up mortgage debt, one analyst said most of the risks for banks lie in renewals and Canadian lenders have a few years to prepare.  Paul Gulberg, a senior equity analyst at Bloomberg Intelligence, said in a Monday interview wi...

Source: BNN Bloomberg June 27, 2023

TSX today: Index up on energy strength

Strength in energy stocks helped Canada's main stock index gain more than 100 points in late-morning trading, while U.S. stock markets were in the red. The S&P/TSX Composite Index was up 155.87 points, or 0.8 per cent, at 19,574.10. In New York, the Dow...

Company News Source: BNN Bloomberg June 27, 2023

Canopy Growth gets zero price target on 'desperation' signs

Canopy Growth Corp. shares were under pressure for a second day as analysts questioned whether the Canadian cannabis grower could reduce it cash burn and turnaround operations. Benchmark slashed its price target on the firm to zero. The stock has dropped 7...

Source: Financialpost June 27, 2023

Shopify to fight CRA request for 6 years of merchant tax records: CEO

Tobi Lutke says the request feels like overreach OTTAWA — Shopify Inc. will challenge a request from the Canada Revenue Agency to turn over six years of records for Canadian stores using the firm’s software. We apologize, b...

Source: Financialpost June 27, 2023

How to solve Canada's slow-moving retirement crisis

Fraser Stark: Every Canadian who can comfortably navigate their own retirement finances is one less person requiring expensive subsidized care from the public purse Reviews and recommendations are unbiased and products are independently selected...

Source: Financialpost June 27, 2023

'Are we gonna hit $2 million an acre?': Industrial land prices are soaring to new heights in Ontario

'Ugly duckling' of real estate classes has undergone significant shift amid surge in private investment for everything from logistics centres to EV battery plants Karl Innanen can remember when industrial land in southwestern Ontario sold for $...

Source: Financialpost June 27, 2023

Suncor Energy cyberattack could prove 'sizable incident,' security expert warns

Has potential to be Canadian version of Colonial Pipeline ransomware attack in U.S. Suncor Energy Inc. falling victim to a cyberattack may be the most significant cybersecurity breach of an oil and gas company thus far in Canadian history, expe...