Daily News

Source: BNN Bloomberg May 29, 2024

Wall Street moves to fastest settlement of trades in a century

The U.S. stock market is finally as fast as it was about a hundred years ago. That was the last time share trades in New York settled in a single day, as they will from Tuesday under new U.S. Securities and Exchange Commission rules. The change, halving th...

Source: BNN Bloomberg May 29, 2024

GameStop shares rally as video game retailer raises nearly US$1B

GameStop Corp. shares extended gains in premarket trading on Tuesday after the video game retailer said it brought in nearly US$1 billion from a share sale program amid renewed interest for the so-called meme stock. Shares of the Grapevine, Texas-based com...

Company News Source: BNN Bloomberg May 29, 2024

Banks start bond sale for Roark's Subway sandwich chain LBO

Sandwich chain Subway is selling US$3.35 billion of asset-backed securities to help fund its buyout, marking the largest securitization of its kind on record. The sandwich maker is selling a whole business securitization, where a company pledges most of it...

Source: BNN Bloomberg May 29, 2024

DraftKings falls as Illinois nears sports betting tax hike

DraftKings Inc. and FanDuel-owner Flutter Entertainment Plc fell on Tuesday after the Illinois Senate passed legislation that would raise taxes on sports betting. The bills would make the sports gambling tax, which is currently 15 per cent, to a new gradua...

Source: BNN Bloomberg May 29, 2024

Markets today: Treasuries hit as U.S. sales struggle to lure buyers

(Bloomberg) -- The world’s biggest bond market sold off after weak Treasury sales, with traders also weighing mixed economic data and remarks from Federal Reserve speakers for clues on the policy outlook. Treasuries extended losses after the U.S. sold US$7...

Source: BNN Bloomberg May 29, 2024

Nvidia surges for third day as earnings rally tops US$460 billion

Nvidia Corp. shares are surging for a third day as Elon Musk fueled the artificial-intelligence frenzy by accelerating his challenge of OpenAI, extending a post-earnings rally that’s added some US$470 billion to the chipmaker’s market capitalization.  Nvid...

Company News Source: BNN Bloomberg May 29, 2024

Fitch downgrades TD Bank outlook to negative on anti-money laundering issues

Fitch Ratings Inc. says it has downgraded its outlook on TD Bank Group to negative from stable because of the potential fallout from anti-money laundering deficiencies at the bank. The credit rating agency, which at the same time affirmed its long-term cre...

Source: Financialpost May 29, 2024

Posthaste: Canada could face two more decades of stagnant growth, report warns

Country could be looking at low growth and higher inflation for next 20 years We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Canada could face two more decades o...

Source: Financialpost May 29, 2024

Canadians need more time to digest new capital gains inclusion rules

Kim Moody: Scrapping the plan is best, but Canadians need enough time to seek advice after tax professionals have fully absorbed the detailsReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate comm...

Source: Financialpost May 29, 2024

Joe Oliver: The Trudeau Liberals have eroded all five pillars of prosperity

Economics says the pillars are: spending restraint, low taxes, minimal regulation, sound money, free trade. Ottawa is oh-for-fiveCanada’s standard of living is in decline, both in absolute terms and compared to our southern neighbour and other wealthy countr...