Daily News

Source: BNN Bloomberg February 07, 2024

Algoma Steel reports net loss of $84.8 million in third quarter, revenues rise

Algoma Steel Group Inc. reported a net loss of $84.8 million in its third quarter, compared with a net loss of $69.8 million a year earlier. The Sault Ste. Marie, Ont.-based company says revenue totalled $615.4 million, up from $567.8 million during the sa...

Source: Bankofcanada February 07, 2024

Summary of Governing Council deliberations: Fixed announcement date of January 24, 2024

This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 24, 2024. This summary reflects...

Source: Financialpost February 07, 2024

No evidence of grocery profiteering in Canada, researcher tells Ottawa

Lawmakers told they should prioritize the grocery code of conductAccusations of profiteering in the Canadian grocery industry are unfounded and unsubstantiated, witnesses told a House of Commons committee studying food prices on Tuesday. We apologize,...

Source: Financialpost February 07, 2024

Howard Levitt: $1.5 million award to employee upheld as court sends message to insurers

Higher penalty needed to deter bad behaviour Howard Levitt and Rob Lilly  In the fall, we wrote about the largest punitive damages award against a disability insurer in Canadian history. In Sara Baker v. Blue Cross Life Insurance Company of Canada, the jury...

Source: Financialpost February 07, 2024

Posthaste: Sorry Canada, this kind of inflation is sticking around — and it's huge

It's going to take a 'short and shallow recession' to get back on track, says economist We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Sorry Canada, this kind of...

Source: Financialpost February 07, 2024

Top headlines: Freeland announces $199 million support for low-income renters, homeless

The latest business news as it happensToday’s headlines We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Top headlines: Freeland announces $199 million support for low-incom...

Source: BNN Bloomberg February 06, 2024

'Own Canada,' says BofA analyst pointing to record dividend gap

Canadian stocks are attractive, given the dividend growth that the benchmark S&P/TSX Composite Index offers and the prospect of waning disinflationary pressure, says Bank of America Corp.’s Ohsung Kwon. “Own dividends, own inflation, own Canada,” the strat...

Source: BNN Bloomberg February 06, 2024

Analyst picks three freight stocks

A transportation analyst sees signs of a recovery in the freight market after years of logistical and supply chain challenges in the industry. Christian Wetherbee, senior research analyst and head of global transportation research at Citi, told BNN Bloombe...

Source: BNN Bloomberg February 06, 2024

Markets today: U.S. bonds fall after 'one-two punch' of ISM, Fedspeak

Wall Street traders sent bonds and stocks down, with strong economic data reinforcing the view that the Federal Reserve isn’t ready to call victory over inflation just yet. Treasuries came under renewed pressure on speculation that optimism regarding disin...

Source: BNN Bloomberg February 06, 2024

TSX recap: Index falls more 1% on broad decline

Canada's main stock index fell more than 200 points Monday in a broad-based decline, while U.S. stock markets also moved lower. The S&P/TSX Composite Index was down 213.20 points, or 1.01 per cent, at 20,871.89. In New York, the Dow Jones Industrial Ave...