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☆ VIEW Canada's economy unexpectedly stalled in Q4; January rebound likely
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +3 min

TORONTO, Feb 28 (Reuters) - The Canadian economy recorded no growth in the final three months of 2022, massively underperforming expectations, though economic activity likely rebounded with a 0.3% increase in January, Statistics Canada data showed on Tuesday. "Even with the January rebound, however, Q4 and Q1 combined seem likely to average slightly below the Bank of Canada's prior forecasts which supports the current pause in terms of interest rates." It'll be a short and sweet statement saying that they're still on a conditional hold and evaluating the lagging effects. They'll want to see a whole lot more data before they're convinced that they're either done and/or that they're going to act again." ROBERT BOTH, MACRO STRATEGIST, TD SECURITIES"It is a pretty large miss on Q4.

☆ Stellantis invests $155 mln in Argentine copper mine
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

ROME, Feb 27 (Reuters) - Carmaker Stellantis said on Monday it had invested $155 million to buy a minority stake in a copper mine in Argentina as part of its global push to secure raw materials for electric vehicle batteries. The company acquired a 14.2% stake in McEwen Copper, a subsidiary of Canada's McEwen Mining (MUX.TO), which owns the Los Azules project in Argentina. The $155-million investment will make Stellantis the second-largest shareholder in McEwen Copper along with Rio Tinto (RIO.AX), it said in a statement. The group wants 100% of its European passenger car sales and 50% of its U.S. passenger car and light-duty truck sales to be battery electric vehicles by 2030. In recent months, Stellantis has struck a series of accords to procure raw materials for electric batteries, including last month's nickel sulphate supply deal with Finland's Terrafame.

☆ A freelance writer who earns 6 figures shares 3 ways he uses ChatGPT to make his job easier: 'You have to learn how to work with the tool instead of fearing it'
▼ + stars: | 2023-02-26 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

Freelance financial writer Tony Dong uses ChatGPT to get more out of his work days. Workers across different industries are using ChatGPT, a bot released by OpenAI in November 2022, to make their jobs easier. Twenty-seven-year-old freelance financial writer Tony Dong told Insider that he's using it to get more out of his work days. "At some point, you have to learn how to work with the tool instead of fearing it. Here are three ways Dong uses ChatGPT to work more efficiently.

☆ Cineworld gets no offer for whole company, warns on shareholders' equity
▼ + stars: | 2023-02-24 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

It said it had received initial proposals from a number of counterparties but none offered an all-cash bid for the entire company. Cineworld said talks with certain stakeholders about a possible plan of reorganisation were ongoing in parallel with a potential sale of assets, but neither path would see shareholders recover their equity interest. Cineworld had a net debt of $8.81 billion as of June 30, 2022, including lease liabilities, while its cash reserves had dwindled to $131 million. Larger rival AMC Entertainment Holdings (AMC.N) in December had said its talks to buy some theatres owned by Cineworld had fallen through. Sky News reported earlier this month that London-based cinema operator Vue International, with support from two funds, would be among the bidders for Cineworld.

☆ A 27-year-old freelance writer whose 'hourly earning potential' is $215 explains how to maximize earnings as a freelancer
▼ + stars: | 2023-02-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

To maximize earning potential as a freelancer, he only works with clients that pay competitive rates. Dong shared four strategies that have helped him maximize his earning potential as a freelancer. Instead of using Fiverr or Upwork, reach out to potential clients via email, LinkedIn, or other social platforms. After all, the slower your work, the more your hourly earning potential drops. Plus, he does other seemingly simple things like prioritizing sleep, eating well, and exercising consistently to get the most out of his work hours.

☆ Canada trade minister says trade talks with Taiwan are part of a larger Indo-Pacific strategy
▼ + stars: | 2023-02-21 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Canada's decision to enter formal bilateral trade talks with Taiwan is part of a broader strategy for the Indo-Pacific region, its minister of international trade told CNBC Tuesday. The two sides agreed on Feb. 7 to begin formal negotiations on a trade agreement in order to strengthen trade and investment. Bilateral trade between Canada and Taiwan reached $5.82 billion in 2022, according to Taiwan's official statistics. Taiwan is Canada's 13th largest trading partner globally, and its 5th largest trading partner in Asia. Taiwan's exports to Canada amounted to $3.3 billion last year, and Canada exports to Taiwan amounted to $2.52 billion in the same period, according to that data.

☆ Purple protest as Canada players take pay dispute to the pitch
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +3 min

[1/5] Members of Canada's National Women's soccer team wear protest t-shirts before their match against the U.S. at the SheBelieves Cup women's soccer tournament in Orlando, Florida, U.S., February 16, 2023. The team's protest is the latest escalation in their dispute with Canada Soccer over pay equity issues. "Tonight, our players will be wearing purple as a symbol of protest," said the Canadian Players Association in a statement. The Canadians wore the purple t-shirts during warmups at Exploria Stadium in Orlando, Florida before changing into their traditional red kit but wearing purple tape on their wrists. The Olympic champions had boycotted training last Saturday while demanding immediate changes but reversed course later that day as Canada Soccer called their strike unlawful and threatened legal action.

☆ A 27-year-old freelance writer who brought in $115,000 last year working 30 hours a week explains how he uses ChatGPT and other tools to work more efficiently
▼ + stars: | 2023-02-17 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Freelance finance writer Tony Dong made about $115,000 last year working 30 hours per week. But he also uses specific tools, including ChatGPT, to work more efficiently. Here are three tools Dong uses to do his job better and more efficiently. But if he's writing about something he's less familiar with he'll ask his AI assistant for help. There's also a premium version for $12 a month, which Dong uses: "It makes your writing more compelling and is worth the money."

☆ Rare footage of Titanic wreckage shot in 1986 released
▼ + stars: | 2023-02-15 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

The footage from Woods Hole Oceanographic Institution (WHOI) was shot about 2 miles (3 km) below the ocean's surface, just months after explorers found the wreckage in 1985. Since the discovery, several documentaries about the Titanic have showed footage of the wreckage scene. During 11 dives in July 1986, footage was shot by cameras on a human-occupied submersible and a small remotely operated vessel that maneuvered through tight spaces. The unveiling of the footage has been timed with the re-release of director James Cameron's 1997 film "Titanic" on its 25th anniversary. "By releasing this footage, WHOI is helping tell an important part of a story that spans generations and circles the globe."

BENGALURU/MELBOURNE, Feb 14 (Reuters) - Australia's iron ore giants BHP Group, Rio Tinto and Fortescue are set to report a steep drop in their earnings, which is set to compress their payouts to shareholders, after China's COVID lockdown drove down iron ore prices. Average realised prices for iron ore fell sharply in the six months to December, hitting earnings. First-half net profit at Fortescue, reporting on Feb. 15, is seen declining to $2.34 billion from $2.78 billion. Underlying half-year profit at Rio Tinto, which reports on a calendar year cycle, is seen declining 48% to $4.77 billion from $9.21 billion. Rio will report on Feb. 22.

The jobless rate held steady at 5%, which is just a decimal point higher than the record low, Statistics Canada (Statscan) said. Analysts surveyed by Reuters had forecast a net gain of 15,000 jobs and for the unemployment rate to edge up to 5.1% in January. "However, that won't stop markets reacting to today's strong data by pricing in a greater probability of further hikes, and pricing out rate cuts," he said. Before the jobs numbers, markets had been betting that the Bank of Canada's next move would be to cut rates. When he announced a pause on rates, Governor Tiff Macklem said it was "conditional" and did not rule out further increases.

☆ Bank of Canada takes historic step in improving transparency with release of minutes
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Feb 8 (Reuters) - The Bank of Canada will release minutes from its policy setting meeting for the first time on Wednesday, as the central bank battles to restore credibility lost during last year's fight to contain inflation. The Bank of Canada has come under a rare attack from critics, including the opposition Conservative leader Pierre Poilievre, for misjudging inflation, which led to renewed calls for it to release minutes and be more transparent about its decision-making process. While inflation was a global problem, the Bank of Canada has stood out from its peers, including the U.S. Federal Reserve, the Bank of England and the European Central Bank, in not providing some form of record of their meetings. Following a review from the International Monetary Fund, the central bank accepted a key recommendation and agreed to release the "Summary of Deliberations," similar to meeting minutes released by other central banks. On Wednesday, the bank will release minutes of its January meeting at 1:30 p.m.

☆ Take Five: The Bottom Line
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +5 min

Australia and India's central banks are navigating the shifting sands of data and markets are digesting what the world's top central banks have to offer. The question is what impact this will have on bonds and stocks markets after a stellar January? Reuters Graphics4/ RUN RALLY, RUNIt was a stellar start to 2023 for markets - stocks and government bonds enjoyed one of the best Januaries on record, fuelled by optimism that the worst is over. That's not good for a central bank, nor is the idea that their communication is ineffective. Policy rate hikes and cuts by central banks overseeing the 10 most traded currencies.

☆ Explainer: Spilt milk? Why are the US and Canada fighting over dairy?
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

HOW DOES CANADA'S DAIRY SYSTEM WORK? The Canadian Dairy Commission, a government corporation, sets a milk price annually that dairy processors pay to farmers. A WTO panel ruled in 2002 that Canada breached its trade obligations through its dairy support, siding with the United States. WHAT IS THE VALUE OF CANADA'S DAIRY SECTOR? Canada's 9,739 dairy farmers form one of the most influential lobbies in the country.

Still, hedge funds piled into Shaw, betting the deal would go ahead. But now, together, the 12 hedge fund firms have made hundreds of millions over the nearly two-year period between Mar. POPULAR TRADEThe 12 hedge fund firms together owned 7.05% of Shaw's shares, or 33.6 million shares, according to Refinitiv Eikon data. Millennium, for example, is a multi-strategy firm - meaning it operates different hedge fund strategies. If the competition bureau had prevailed, analysts had predicted Shaw shares would have dropped to the pre-bid level of C$23, pointing to steep losses for the hedge funds.

☆ Exclusive: -Bank of Canada's Macklem says he is 'not even thinking' of cutting rates
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Jan 25 (Reuters) - Bank of Canada Governor Tiff Macklem on Wednesday said he was focused on whether interest rates would need to go higher and is not even considering cutting them as part of the fight against inflation. Macklem made his remarks in an interview with Reuters after earlier announcing a rate hike and saying the central bank would pause to see how the economy was reacting to tightening. "As things start to get more back to normal, at some point, yes, we probably will be thinking about some modest cuts in interest rates," Macklem said. We're not even thinking about cuts ... the question really we're asking ourselves is, 'Have we done enough?' (Reporting by Steve Scherer and David Ljunggren)((Reuters Ottawa bureau, +1 647 480 7921; david.ljunggren@tr.com))Keywords: CANADA CENBANK/MACKLEM RATESOur Standards: The Thomson Reuters Trust Principles.

The euro was down 0.12% against the dollar at $1.088, just off the $1.093 level reached on Friday, which was the highest since early May. Meanwhile, the dollar was up 0.1% against the yen , at 130.28 yen per dollar, having hit an 8-month low of 127.22 on Jan. 16. Those expectations have caused the dollar index , which surged on the back of Fed rate hikes last year, to fall more than 11% from September's 20-year high of 114.78. Expectations of further rate increases by the European Central Bank have also aided sentiment and supported the euro. The U.S. dollar was little changed against its Canadian counterpart ahead of the Bank of Canada's latest rates decision on Wednesday, buying C$1.337.

☆ Canada judge calls into question regulator's argument to block Rogers-Shaw deal
▼ + stars: | 2023-01-24 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

TORONTO, Jan 24 (Reuters) - A Canada federal judge called into question the competition bureau's argument to block Rogers Communications Inc's (RCIb.TO) C$20 billion ($14.9 billion) bid for Shaw Communications Inc (SJRb.TO) as the court hearing kicked off on Tuesday. But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. "According to the tribunal, this was not a particularly close case," the judge told the court on Tuesday. "I think the appeal is going to be dismissed," said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. A spokesperson for the competition bureau declined to comment while the matter was before the court.

☆ Rogers-Shaw, Canada regulator to duke it out in federal court over C$20 bln bid
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +3 min

But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. Rogers offered to sell Shaw's Freedom Mobile unit to Quebecor's (QBRb.TO) Videotron for C$2.85 billion to address anti-competition concerns, but the competition bureau argued that a merged Rogers-Shaw would not have a viable competitor in Quebecor. "I think the appeal is going to be dismissed," said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. For that reason, I think the Court of Appeal will make sure to do it in time for the parties to close." A spokesperson for the competition bureau declined to comment while the matter was before the court.

☆ Energy, consumer weigh on Toronto stocks ahead of BoC decision
▼ + stars: | 2023-01-24 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Canada's main stock index fell on Tuesday, as energy and consumer discretionary stocks dragged the index lower ahead of the Bank of Canada's interest rate decision on Wednesday, while data showed U.S. business activity contracted. ET (1522 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 68.95 points, or 0.33%, at 20,562.63. Commodity-linked stocks took a dive, with both energy (.SPTTEN) and materials (.GSPTTMT) down 0.7% and 0.6%, respectively, as commodity prices slipped. Looking ahead, another interest rate hike by the Bank of Canada (BoC) is looming large, with traders leaning towards a 25-basis-point hike on Wednesday. The BoC had hiked its overnight lending rate all through 2022, with the current rate sitting at an over 16-year high.

☆ Euro clears 9-month peak as ECB hawks let fly
▼ + stars: | 2023-01-23 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

The euro reached as far as $1.0903 , breaking the recent peak of $1.08875 and opening the way to a spike top from last April at $1.0936. It was aided by European Central Bank (ECB) governing council member Klaas Knot, who said interest rates would rise by 50 basis points in both February and March and continue climbing in the months after. A Reuters survey of analysts also favoured a hike of 50 basis points in March and an eventual top of 3.25%. Investors also have around 50 basis points of U.S. rate cuts priced in for the second half of the year, reflecting softer data on inflation, consumer spending and housing. read moreAny hint the replacement is less dovish than current governor Haruhiko Kuroda could see the yen climb anew.

☆ Euro nears nine-month peak as ECB hawks let fly
▼ + stars: | 2023-01-23 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

The euro crept ahead to $1.0870 and nearer its recent nine-month peak of $1.08875. It was aided by European Central Bank (ECB) governing council member Klaas Knot, who said interest rates would rise by 50 basis points in both February and March and continue climbing in the months after. Much the same argument goes for sterling, with markets wagering the Bank of England will hike by half a point to 4.0% at its policy meeting next week. Analysts assume the BOJ will stand the line until at least the next policy meeting in March, though one hurdle will be the expected naming of a new BOJ governor in February. For now, the dollar was holding at 129.40 yen , following last week's wild gyrations between 127.22 and 131.58.

It is planning to develop a CCS hub in northern Alberta, expected to cost C$16.5 billion ($12.3 billion) by 2030. Trudeau told Reuters in an interview earlier this month Alberta was "hesitating around investing in anything related to climate change". Canada is the world's fourth-largest producer of crude, most of which comes from Alberta's oil sands. The oil and gas sector is the country's highest-polluting industry and needs to drastically cut emissions if Canada is to achieve its climate commitments. 'NO TIME TO SLIP'The Pathways Alliance has already said Ottawa's goal of cutting oil and gas emissions 42% by 2030, equivalent to a 35-megatonne reduction, is impossible.

☆ Nuclear energy could support the energy transition, says Delta Clean Tech
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNuclear energy could support the energy transition, says Delta Clean TechJeff Allison, president of Canada's Delta Clean Tech, discusses the role of nuclear energy in solving the global energy crisis and amid the energy transition.

☆ 'P.R. job' or antidote to 'groupthink'? Bank of Canada to offer policy-meeting minutes
▼ + stars: | 2023-01-22 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

Annual inflation shot to 8.1% in June, the highest in 39 years and four times the Bank of Canada's 2% target. On the recommendation of the International Monetary Fund, the BoC in September said it would release minutes to improve transparency,Other central banks including the U.S. Federal Reserve, the Bank of England and the European Central Bank already provide some form of record of their meetings. "The big enemy for policymakers and investors is groupthink," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. JOB'Other market-watchers say releasing minutes is more an exercise in public relations than an effort to boost transparency. Reuters GraphicsReuters GraphicsReporting by Steve Scherer, additional reporting by Fergal Smith, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

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