The Daily

April 18, 2023 Daily Market Commentary Canadian Headlines George Weston Limited and Loblaw Companies Limited jointly announced today the appointment of Mr. Per Bank as President and Chief Executive Officer of Loblaw. Mr. Bank will formally join the company by Q1 2024. The appointment follows a global talent search initiated in August 2022 in anticipation [...]

April 17, 2023 Daily Market Commentary Canadian Headlines Teck Resources Ltd.’s controlling shareholder has given his clearest indication yet that the company will be up for sale, but only if investors throw their support behind a plan to split the Canadian miner in half. Norman Keevil, the 85-year-old magnate who controls Teck through “supervoting” Class [...]

April 14, 2023 Daily Market Commentary Canadian Headlines Global finance chiefs, gathering in Washington little more than a year after the shock Russian invasion of Ukraine, are drawing sharply different conclusions about the biggest risks to the outlook, in a split showcasing the rising role of geopolitical struggles in the world economy. The key takeaway among [...]

April 13, 2023 Daily Market Commentary Canadian Headlines Royal Bank of Canada topped JPMorgan Chase & Co. last year to become the world’s largest backer of fossil-fuel companies, providing more fodder to critics who say the lender isn’t living up to its climate commitments.  Royal Bank provided $42.1 billion of funding to the industry, up 4.2% from a [...]

April 12, 2023 Daily Market Commentary Canadian Headlines Brookfield Infrastructure Partners struck a deal to buy Triton International Ltd., the world’s largest owner of intermodal containers, for $4.7 billion. The takeover bid is for $85 a share, including $68.50 in cash, the companies said early Wednesday, and is expected to close in the fourth quarter. It’s a 35% [...]

April 11, 2023 Daily Market Commentary Canadian Headlines US gold giant Newmont Corp. has made a fresh bid for Australian rival Newcrest Mining Ltd., sweetening its record offer to A$29.4 billion ($19.5 billion) to bring closer the prospect of a precious metal behemoth. The revised proposal, which comes two months after Newcrest rejected Newmont’s earlier $17 billion all-stock [...]

April 10, 2023 Daily Market Commentary Canadian Headlines Sleep County Canada Holdings Inc., Canada's leading omnichannel specialty sleep retailer, today announced its intention to acquire 100% ownership of the Canadian assets of Casper Sleep Inc., the original disruptor of the mattress industry in North America and award-winning mattress retailer. "We are very excited to acquire [...]

April 6, 2023 Daily Market Commentary Canadian Headlines Oil headed for a third straight weekly gain after a surprise supply cut by OPEC+ and a drop in US inventories tightened the market outlook. Yields slumped on bets the world economy is set for a sharper slowdown. The two-year Canada benchmark traded at 3.55% early Thursday [...]

April 5, 2023 Daily Market Commentary Canadian Headlines Toronto home prices rose for a second month as buyers coming out for the traditional spring selling season were met with a smaller number of newly listed properties. The benchmark price for a home in Canada’s largest city climbed 2.5% to C$1.12 million ($830,000) in March from [...]

April 4, 2023 Daily Market Commentary Canadian Headlines Teck Resources Ltd. is willing to entertain offers from potential suitors after it finishes the spinoff of its steelmaking coal business, according to people familiar with the matter. The Canadian miner said Monday it rejected an unsolicited $23 billion proposal from Glencore Plc and will forge ahead with an April 26 shareholder vote [...]