Daily News

Source: BNN Bloomberg May 01, 2024

Markets today: Wall Street hit by U.S. Fed jitters to close wild April

The stock market sank in the final stretch of April and bond yields climbed on concern that stubborn inflation will force the Federal Reserve to keep interest rates higher for longer. On the eve of the Fed decision, a broad gauge of U.S. labor costs closel...

Source: BNN Bloomberg May 01, 2024

Amazon reports strong cloud unit sales on rising AI demand

Amazon.com Inc.’s cloud unit posted the strongest sales growth in a year, a sign that the retailer’s most profitable unit is recovering from a slump as businesses resume spending on technology projects, including artificial intelligence services.  Despite...

Source: Bankofcanada May 01, 2024

Opening Statement before the Standing Senate Committee on Banking, Commerce and the Economy

Good afternoon. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our recent policy announcement and the Bank of Canada’s M...

Source: Financialpost May 01, 2024

Posthaste: Canadians put off plans to buy a home until the Bank of Canada cuts rates

Many say they will hold off until 2025 or later We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Canadians put off plans to buy a home until the Bank of Canada cut...

Source: Financialpost May 01, 2024

'Shot themselves in the foot:' How Loblaw became target for grocery anger over food inflation

Watch York University's Grant Packard on why consumers are planning to boycott Loblaw brands in MayGrant Packard, associate professor of marketing at York University, talks with Financial Post’s Larysa Harapyn about a planned consumer boycott of Loblaw Cos....

Source: Financialpost May 01, 2024

Cottage market is seeing 'seven sellers for every three buyers', says Muskoka broker

Watch John Fincham on the state of the recreational property market and the capital gains tax hikeJohn Fincham, a broker at Re/Max Parry Sound Muskoka Realty, talks with Financial Post’s Larysa Harapyn about the state of the recreational property market as s...

Economy Source: Financialpost May 01, 2024

Canada's economy is losing momentum — quickly

Slowing GDP puts pressure on Bank of Canada to cut rate in June Get the latest from Naimul Karim straight to your inbox Sign Up The Canadian economy lost momentum in February as it grew at a slower pace than both analyst expectations and Statistics Ca...

Economy Source: Financialpost May 01, 2024

Pressure building on Bank of Canada: What economists say about slowing GDP

'Momentum in the Canadian economy appears to have faded quickly'Statistics Canada is predicting gross domestic product growth will be flat in March after data released Tuesday showed the Canadian economy slowed more than expected in February. We apolo...

Source: BNN Bloomberg April 30, 2024

Markets today: Stock bulls look to earnings with U.S. Fed in a corner

Stocks rose as a solid earnings season propped up the market despite bets the Federal Reserve will keep interest rates higher for longer. After pulling back for the most part in April, equities staged a rebound toward the end of the month. Early results fr...

Source: BNN Bloomberg April 30, 2024

BlueBay says 'very risky' to trade chatter on Yen intervention

(Bloomberg) -- RBC BlueBay Asset Management isn’t taking any chances on the Japanese yen amid its wild gyrations and talk of currency intervention.  The firm, which oversees more than $114 billion in fixed-income assets, closed a bet on yen strength on Friday...