Daily News

Source: Financialpost April 25, 2024

Canada's retail sales flatline, supporting case for Bank of Canada rate cut

Canadians are tightening their belts are mortgages come up for renewalCanadian consumers haven’t tightened their belts this much in nearly a year, and there are no signs of spending growth since the start of 2024. We apologize, but this video has fail...

Source: Financialpost April 25, 2024

Bank of Canada says rate cuts will probably be gradual as inflation risks persist

Officials worried progress on core inflation could stall, summary of deliberations from April 10 rate hold reveals Get the latest from Barbara Shecter straight to your inbox Sign Up Divisions within the Bank of Canada over the timing of a much-anticip...

Source: Financialpost April 25, 2024

'Mark my words': Canadian tech investor warns Trudeau of capital flight after tax hike

John Ruffolo of Maverix Private Equity joins chorus of businesses criticizing increase to capital gains taxReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made throug...

Source: Financialpost April 25, 2024

Canadian dollar could sink to 50 cents a decade from now, says analyst

Watch Jean-Francois Tardif of Timelo Investment explain what could drive the loonie to those depthsJean-François Tardif, founder of Timelo Investment Management, speaks with Financial Post’s Larysa Harapyn about how the 2024 federal budget could impact the C...

Source: BNN Bloomberg April 24, 2024

Markets today: 'Mag Seven' roar as Tesla jumps in late hours

A rally in tech heavyweights lifted the broader stock market, with the group’s high-stakes earnings seen by Wall Street investors as a major test of the bull run in equities. In late hours, Tesla Inc. soared despite an earnings miss, with Elon Musk’s elect...

Source: BNN Bloomberg April 24, 2024

Equifax Canada testing use of rental payment data for credit scores

Equifax Canada is exploring how rent data could factor in to credit scores to help make credit and financial services accessible to more people. The agency said it has been testing small volumes of rental payment data to assess its suitability. An Equif...

Source: BNN Bloomberg April 24, 2024

CN Rail profits fall alongside container shipment revenue

Canadian National Railway Co. says earnings slid last quarter amid higher labour costs and lower revenue from container shipments. The country's largest railroad operator is reporting that net income feel nearly 10 per cent to $1.10 billion in the three mo...

Source: BNN Bloomberg April 24, 2024

First Quantum reports US$159 million loss in Q1, says balance sheet shored up

First Quantum Minerals Ltd. says it lost US$159 million in its first quarter, down from profits of US$75 million a year earlier. However, it's a shallower loss than the US$1.45 billion First Quantum reported in the previous quarter. CEO Tristan Pascall...

Source: BNN Bloomberg April 24, 2024

Tesla aims to release cheaper cars by 2025 after sales miss

Tesla Inc. is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales. The electric-vehicle maker plans to release the cheaper cars by the end of this year or in early next, well ahead of the lat...

Company News Source: BNN Bloomberg April 24, 2024

West Fraser Timber earns US$35 million in first quarter, up from loss last year

West Fraser Timber Co. says it earned US$35 million in its first quarter, up from a loss of US$42 million a year earlier. Earnings per diluted share were 42 cents US, compared with a loss of 52 cents during the same quarter last year. The Vancouver-base...