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Source: Financialpost June 04, 2024

To cut or hold interest rates — all eyes are on the Bank of Canada

Economists say there are risks to the economy if the central bank doesn’t cut in June or signal a cut for July Get the latest from Barbara Shecter straight to your inbox Sign Up This Wednesday’s rate-setting announcement will be closely watched for th...

Source: Financialpost June 04, 2024

TD Bank faces fresh allegations as bribery woes spread to Florida

A former retail banker in a Hollywood, Fla. falsified documents to open accounts that helped cash flow across borders, according to U.S. prosecutorsFresh allegations that a longtime Toronto-Dominion Bank branch worker in Florida took a series of US$200 bribe...

Source: Financialpost June 04, 2024

Posthaste: What happened to the Canadian dollar the last time the Bank of Canada and Fed parted ways

Watch out below for a falling loonie We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: What happened to the Canadian dollar the last time the Bank of Canada and Fed pa...

Source: Financialpost June 03, 2024

Higher for longer rates mean no escape from the debt squeeze

An estimated 76% of outstanding Canadian mortgages will come up for renewal by 2026Companies going bust, mounting credit card debt, higher mortgage bills. We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see oth...

Source: Financialpost June 02, 2024

'The airline cemetery:' Why low-cost airlines don't work in Canada

Watch: John Gradek says duopoly of Air Canada and WestJet Airlines kills competitionJohn Gradek, faculty lecturer, supply networks at Montreal’s McGill University, talks with Financial Post’s Larysa Harapyn about how the Canadian Competition Bureau is lookin...

Source: Financialpost June 02, 2024

Ottawa posts $50.9 billion deficit for 2023-24 fiscal year

Revenues were up $13.7 billion, or 3.2%, to $444.8 billionOTTAWA — The federal government ended the 2023-24 fiscal year with a deficit of $50.9 billion. We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other...

Source: BNN Bloomberg June 01, 2024

Trump Media shares swing wildly and then tumble a day after former president was convicted

Shares of Trump Media & Technology Group swung wildly at the opening bell Friday, falling rapidly after it appeared that the owner of social networking site Truth Social, would bounce back despite the conviction of the former President Donald Trump in his hus...

Source: BNN Bloomberg June 01, 2024

The Week Ahead: Bank of Canada interest rate decision

Tuesday, June 4 Vancouver home sales (May) Earnings: Bath & Body Works, Hewlett Packard Enterprise Wednesday, June 5 9:45 a.m. Bank of Canada policy announcement 10:30 a.m. Bank of Canada news conference Toronto home sales (May) Earni...

Source: BNN Bloomberg June 01, 2024

Gap shares surge as celebrity-driven promotions, new styles lure shoppers

Wall Street likes what Gap Inc. is selling.  Shares jumped 15 per cent at 9:34 a.m. in New York on Friday following an eye-popping earnings report that showed a fashion overhaul by new Chief Executive Officer Richard Dickson is working.  Dickson, famed...

Source: BNN Bloomberg June 01, 2024

Markets today: S&P 500 spikes in final 20 minutes of U.S. trading

A renewed bout of volatility gripped stocks in the final stretch of May, with the market finishing higher amid a rotation between technology and other industries. After dropping almost one per cent amid a selloff in tech megacaps, the S&P 500 rose about as...