The Daily

October 27, 2021 Daily Market Commentary Canadian Headlines The board of Rogers Communications Inc. voted 10-1 to let go of Chief Executive Officer Joe Natale and even drafted a press release announcing his departure, but reversed course at a Sept. 26 board meeting, according to court documents filed by Edward Rogers. Edward’s mother, Loretta Rogers, spoke in favor of a CEO [...]

October 26, 2021 Daily Market Commentary Canadian Headlines The Canadian stock market posted its longest streak of gains ever as a rally in commodities pushed the benchmark higher for a 14th straight session. The S&P/TSX Composite Index rose 0.3% to an all-time high Monday. It has added about C$237 billion ($191 billion) in market value [...]

October 25, 2021 Daily Market Commentary Canadian Headlines The escalating crisis at Rogers Communications Inc. has taken another extraordinary twist, with two different men claiming they are chairman and two factions of the Rogers family each saying they have control of the board. Edward Rogers was named chairman at a meeting in Toronto on Sunday night, according to [...]

October 21, 2021 Daily Market Commentary Canadian Headlines Canadian stocks rallied for an 11th straight day as positive earnings reports outweighed any inflation concerns. The S&P/TSX Composite gained 0.5% in Toronto. Financials stocks led the market higher, as 7 of 11 sectors gained; 140 of 233 shares rose, while 86 fell. Canadian National Railway contributed [...]

October 20, 2021 Daily Market Commentary Canadian Headlines Canadian National Railway Co. said Chief Executive Officer Jean-Jacques Ruest plans to retire by the end of January, handing an apparent victory to a major shareholder who had been pressuring him to step down. The surprise announcement comes one day after TCI Fund Management Ltd., CN’s second-largest investor, released a presentation [...]

October 19, 2021 Daily Market Commentary Canadian Headlines Rogers Communications Inc. Chairman Edward Rogers said there’s “room for improvement” in the company’s performance and that he has the firm’s best interests at heart as he battles family members over its strategic direction. “It is my responsibility to put the interests of RCI first,” Rogers said in an emailed [...]

October 18, 2021 Daily Market Commentary Canadian Headlines Hexo said co-founder and CEO Sebastien St-Louis has left the company, effective immediately, as it “completes a strategic reorganization.” The Special Committee of the Board for Succession is in advanced discussions with a preferred CEO candidate and expects to make an announcement in the coming days. World Headlines European stocks [...]

October 15, 2021 Daily Market Commentary Canadian Headlines Bank of Canada’s Tiff Macklem doesn’t see an ongoing inflation crisis arising from supply concerns. “These supply disruptions, they continue to be viewed as transitory, but they are likely to be more persistent than most of us thought around the table.” Inflation expectations in near-term have moved [...]

October 14, 2021 Daily Market Commentary Canadian Headlines The maturing Canadian technology sector has caught the eye of the world’s largest asset manager. BlackRock Inc.’s private equity unit is one of the lead investors in a new “continuation fund” set up by Inovia Capital, the Montreal-based firm said Thursday.  Inovia will use the $334 million it [...]

October 13, 2021 Daily Market Commentary Canadian Headlines The United States will relax coronavirus restrictions at its land borders with Canada and Mexico for vaccinated travelers next month, allowing for the resumption of non-essential travel like tourism. The changes, announced by members of New York’s congressional delegation, come after the White House previously announced its [...]