Daily News

Source: Financialpost March 11, 2023

Silicon Valley Bank is seized by US after historic failure

NEW YORK (AP) — U.S. regulators rushed to seize the assets of Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of a financial institution since Washington Mutual collapsed at the height of the financial crisis mo...

Source: Financialpost March 11, 2023

Trans Mountain pipeline expansion costs surge 44% to $30.9 billion

Government-owned project expected to start shipping oil in early 2024 The cost of the government-owned Trans Mountain oil pipeline expansion has jumped to $30.9 billion, the federal corporation building the project said on Friday, a 44 per cent...

Source: Financialpost March 11, 2023

Ottawa approves WestJet Airlines' acquisition of Sunwing

Decision takes into account recent travel chaos experienced by customers of vacation company The federal government has approved WestJet Airlines Ltd.’s acquisition of Sunwing Vacations and Sunwing Airlines. THIS CONTENT IS RESERVED FOR...

Source: Financialpost March 11, 2023

Howard Levitt: Workplace wokeness will be put to the test if economy sours

Two biggest labour market changes, DEI initiatives and working from home, may soon become an historic anecdote Tara Henley, who quit the CBC claiming that to continue working there was “to embrace cognitive dissonance and abandon journalistic i...

Source: Financialpost March 11, 2023

Canadian banks erase $19.7 billion in value on Silicon Valley Bank contagion

Scotiabank, BMO and TD fell more than 2% The fallout from Silicon Valley Bank’s collapse has led to a continent-wide selloff in financial stocks erasing $19.7 billion in value from Canada’s top banks in the last four days. THIS CONTENT...

Source: Financialpost March 11, 2023

Silicon Valley Bank fails, shut down by FDIC after run on deposits

FDIC has been appointed as receiver NEW YORK — The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis...

Source: BNN Bloomberg March 10, 2023

​Defensive stock plays: Three hot picks from Jay Hatfield

Investors who are looking to shield their money from the effects of inflation should look to buy defensive blue chip stocks that pay dividends, one financial executive advised.   Speaking with BNN Bloomberg’s Amber Kanwar on Thursday, Jay Hatfield, chief exe...

Source: BNN Bloomberg March 10, 2023

TSX today: Index trading lower amid losses in metals

Losses in the base metals sector led Canada's main stock index lower in late-morning trading, while U.S. stock markets climbed higher. The S&P/TSX Composite Index was down 11.97 points, or 0.06 per cent, at 20,334.56. In New York, the Dow Jones Industri...

Source: BNN Bloomberg March 10, 2023

U.S. stocks sink to seven-week low as banks clobbered

U.S. stocks notched their worst day in two weeks after a rout in bank shares picked up steam on concerns pockets of trouble in the sector could portend broader dangers. Treasuries rallied. The S&P 500 fell to the lowest since Jan. 19 with financial compani...

Market Call Source: BNN Bloomberg March 10, 2023

Javed Mirza's Top Picks: March 9, 2023

Javed Mirza, analyst, Canaccord Genuity FOCUS: Technical analysis Javed Mirza is a technical analyst and not a portfolio manager. The stocks referenced here are ones he is monitoring closely. MARKET OUTLOOK: We are seeing a new intermediate-term...