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☆ Shark Tank investor Kevin O'Leary breaks down his latest crypto bet as regulators look to crush 'rogue' operators
▼ + stars: | 2023-04-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

I caught up with Shark Tank investor Kevin O'Leary, an active crypto investor and market veteran, to get his take on the digital asset sector and recent regulatory action. Since November, he's moved his holdings to Canada, where he uses WonderFi, a name he's backed as an investor. They told regulators 'go get them,' and all of a sudden we have a mountain of enforcement action." The SEC said it's "neutral" about the technology at hand, yet "anything but neutral when it comes to investor protection." I bet if you looked at who's managing these companies 36 months from now, all the current guys are gone."

☆ TSX futures crawl higher ahead of Fed meet decision
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22(Reuters) - Futures for Canada's main stock index edged up on Wednesday tracking gains in bullion prices, as investors awaited the U.S. Federal Reserve's verdict on further monetary tightening. The Fed is expected to deliver quarter of a percentage-point rate hike at 2 p.m. March futures on the S&P/TSX index were up 0.2% at 7:05 a.m. Gold prices added shine as investors rushed to the safe-haven asset ahead of the Fed's rate decision announcement. ET, while S&P 500 e-minis were up 2.75 points, or 0.07% and Nasdaq 100 e-minis were down 7.75 points, or 0.06%.

☆ NHL roundup: Owen Tippett's hat trick lifts Flyers over Sabres
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +2 min

Mandatory Credit: Nick Turchiaro-USA TODAY SportsMarch 18 - Owen Tippett scored three goals to lift the host Philadelphia Flyers to a dominant 5-2 victory over the Buffalo Sabres on Friday. Joel Farabee and James van Riemsdyk each added one goal for the Flyers, who snapped a four-game losing streak. Victor Olofsson scored two goals for the Sabres, who lost their second straight. Maple Leafs 5, Hurricanes 2Zach Aston-Reese scored two goals as Toronto defeated visiting Carolina. Ryan Strome and Troy Terry each logged a goal and an assist, and Max Comtois and Trevor Zegras added a goal apiece.

"Sterling markets will continue to digest yesterday’s Budget delivered by Chancellor Jeremy Hunt as well as the broader global environment. Markets remain ambivalent whether the Bank of England will raise interest rates next week," said Hann-Ju Ho, senior Economist, Commercial Banking at Lloyds Bank. The European Central Bank (ECB), meanwhile, is a little behind the BoE in its quest to fight inflation. Traders attach a 60% chance of the ECB raising rates by 50 bps on Thursday, with a 40% chance of 25 bps. Money markets show investors expect ECB rates to peak around 3% later this year, compared with a peak of 4% just over a week ago.

☆ NHL roundup: Linus Ullmark's record night lifts Bruins
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +7 min

Dmitry Orlov scored twice in a three-point game while Pavel Zacha also scored for the Bruins. Panthers 4, Lightning 1Eric Staal, Anton Lundell and Eetu Luostarinen scored first-period goals as Florida broke Tampa Bay's club-record 16-game home point streak. Sergei Bobrovsky's 29 saves helped him set a record for most NHL wins by a Russian goaltender (354). Jesse Ylonen, Kaiden Guhle and Christian Dvorak scored third-period goals for the Canadiens, who have won three of four. Travis Boyd, Barrett Hayton and Jack McBain also scored goals and Clayton Keller added a pair of assists for Arizona, which snapped a two-game losing streak.

☆ Canada's Scotiabank profit falls on capital market slump, provisions
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

Feb 28 (Reuters) - Bank of Nova Scotia (Scotiabank) (BNS.TO) reported a lower first-quarter profit on Tuesday, as a lull in its investment banking division dented income from its capital markets unit and compelled the Canadian lender to set aside higher provisions. Canada's central bank over the past 11 months has lifted interest rates at a record pace to 4.5% to tame inflation, which was 6.3% in December, still well above the bank's 2% target. Scotiabank booked provisions of C$638 million, up from C$222 million a year ago, as it braces for increased odds of more loan defaults in a rising interest rate environment. Canada's third-largest lender reported overall net profit of C$1.77 billion, or C$1.36 a share, compared with C$2.74 billion, or C$2.14 a share, last year. read more($1 = 1.3566 Canadian dollars)Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

[1/2] A sign for the Bank of Montreal in Toronto, Ontario, Canada December 13, 2021. Banks typically benefit from higher interest rates but could feel the pressure if they affect loan demand and economic growth. Provision for credit losses (PCL) at BMO came in at C$217 million ($158 million) for the quarter, compared with a recovery of C$99 million a year earlier. Reuters GraphicsProfits at BMO and Scotiabank were also weighed down by the Canadian government's 'Canada Recovery Dividend (CRD)'. BMO recorded C$371 million related to the CRD and Scotiabank C$579 million.

☆ NHL roundup: William Nylander's OT goal lifts Leafs past Wild
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +4 min

Mandatory Credit: Dan Hamilton-USA TODAY SportsFebruary 25 - William Nylander scored at 1:05 of overtime and the Toronto Maple Leafs defeated the visiting Minnesota Wild 2-1 on Friday night. David Kampf also scored for the Maple Leafs, who have won two in a row. Brandon Duhaime scored for the Wild, who had won their fourth straight game 2-0 on Thursday against the Columbus Blue Jackets. Canadiens 5, Flyers 2Jesse Ylonen had one goal and one assist to lift Montreal past host Philadelphia. Compher and Nathan MacKinnon each had a goal and an assist for visiting Colorado in a win over Winnipeg.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

☆ Canada has firepower to invest billions in green transition, analysts say
▼ + stars: | 2023-02-24 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

OTTAWA, Feb 24 (Reuters) - Canada has the firepower to invest billions of dollars in the green transition over the coming years to make it more competitive with the United States, analysts said, while also ensuring its public finances stay on a sustainable path. Because nominal growth is forecast to be weak in the 2023/24 fiscal year, the ratio might creep up before heading downward again. Many in industry say Canada must do more to be a key player in the green transition as the IRA is already spurring investment in the United States. Bartlett estimates Canada could spend an additional C$20 billion ($14.9 billion) per year and keep the net debt-to-GDP ratio below 2021/22's 45.5%, which was the lowest in the G7. Promised investments in the green transition will not "be overly inflationary" and they would provide certainty for investors and businesses, Bartlett said.

☆ NHL roundup: Auston Matthews' return boosts Leafs
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +4 min

[1/6] Feb 15, 2023; Toronto, Ontario, CAN; Toronto Maple Leafs right wing William Nylander (88) battles for the puck with Chicago Blackhawks defenseman Caleb Jones (82) in front of Blackhawks goaltender Petr Mrazek (34) during the third period at Scotiabank Arena. Mandatory Credit: Nick Turchiaro-USA TODAY SportsFebruary 16 - Auston Matthews had a goal and an assist in his return after missing five games with a sprained knee, helping the Toronto Maple Leafs earn a 5-2 win over the visiting Chicago Blackhawks on Wednesday night. The Maple Leafs went 2-3-0 while Matthews was out. Conor Timmins added a goal, and the Maple Leafs goalie Ilya Samsonov made 27 saves. Lazar and defenseman Oliver Ekman-Larsson left due to lower-body injuries, and goalie Arturs Silovs stopped 22 shots in his NHL debut.

☆ Here is the 14-page pitch deck a fintech helping SMBs get approved for loans via alt data used to raise $1.8 million from ATX Venture Partners, Rex Salisbury, and others
▼ + stars: | 2023-02-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Here is the deck Uplinq used to raise a $1.8 pre-seed extension round. One financial-technology startup trying to bring alternative data to small-business lending is catching the attention and dollars of some of the most notable fintech investors in the space. The latest round brings Uplinq's total funding to $5.6 million, with the startup raising its initial $3.5 million pre-seed round in April 2022. And is the credit score really an accurate reflection of their true credit worthiness?" Here's the 14-page pitch deck Uplinq used to raise $1.8 million.

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.

That prompted the central bank to pause its most aggressive tightening cycle for now, becoming the first major central bank to do so. Traders have already bid up Canadian stocks and the Canadian dollar , dubbed a 'commodity currency', since the news of China reopening surfaced in December. Doug Porter, chief economist at BMO Capital Markets, said that for Canada, China's reopening is more a "clear-cut positive" than it would be for other countries with fewer commodities exports. The U.S. Federal Reserve, the European Central Bank and the Bank of England have since laid the groundwork for a pause as well. Karl Schamotta, chief market strategist at Corpay said China's reopening will help put a floor under global price levels, potentially offsetting demand destruction as economies slow.

Feb 1 (Reuters) - North American pipeline operator TC Energy Corp (TRP.TO) on Wednesday raised its cost estimate more than expected for completing its troubled Coastal GasLink project, sending share prices sharply lower. The company attributed the cost increase to a labor shortage, poor work by contractors and adverse weather. TC is looking to sell C$5 billion worth of assets this year to raise funds to repay debt and pay for projects including Coastal. TC Energy raised its overall 2023 capital expenditure outlook to C$11.5 billion-C$12 billion from C$9.5 billion earlier, partly due to Coastal's higher costs. An impairment will be recognized to TC Energy's equity investment in Coastal in its fourth-quarter results scheduled for Feb. 14, the company said.

☆ Fed officials see lots of room to shed bonds from balance sheet
▼ + stars: | 2023-01-31 | by ( Michael S. Derby | ) www.reuters.com time to read: +6 min

It now aims to unload just shy of $100 billion per month, and so far that approach has taken nearly $420 billion of bonds off the Fed's balance sheet. Fed officials and outside observers don't expect that to happen again. "So I would expect, you know, the process of balance sheet reduction to continue as it is." When the Fed announced its run-off plans last year, "all the interest rate effects from balance sheet tightening happened right away. Still, Fed balance sheet cuts should "stay intact until early 2024," analysts with forecasting firm LH Meyer wrote.

☆ '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.

☆ WNBA to host first Canada game with Lynx-Sky preseason clash
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Jun 26, 2022; Chicago, Illinois, USA; Chicago Sky forward Candace Parker (3) defends against Minnesota Lynx forward Jessica Shepard (10) during the second half of a WNBA game at Wintrust Arena. Mandatory Credit: Kamil Krzaczynski-USA TODAY Sports/Jan 18 (Reuters) - The Women's National Basketball Association (WNBA) will host its first-ever game in Canada, a preseason showdown between four-times champions Minnesota Lynx and 2021 title-holders Chicago Sky at Toronto's Scotiabank Arena, the league said on Wednesday. It is only the third time that a WNBA preseason game has been played abroad, after games in Monterrey, Mexico, and Manchester, England, were held in 2004 and 2011, respectively. The Lynx and Sky will face off on May 13. Reporting by Amy Tennery in New York Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

ET (1505 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 38.76 points, or 0.19%, at 20,398.86 - a six-week high. Investors will focus on December inflation data due on Tuesday, with economists polled by Reuters forecasting a 6.4% rise on an annual basis. "We're going to have the CPI report, so that'll be crucial, giving us an indication how the fight against inflation is going," said Allan Small, senior investment advisor at Allan Small Financial Group. The energy sector (.SPTTEN), financial (.SPTTFS) and technology stocks (.SPTTTK) gained between 0.2% and 0.4%. Investment management company Colliers International Group (CIGI.TO) gained 3.3% after Scotiabank upgraded the stock to "outperform".

☆ NHL roundup: John Klingberg lifts Ducks over Sharks in OT
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +4 min

Anaheim's Troy Terry, who was named an All-Star this week, carried the puck to the front of the San Jose goal in overtime and sent a pass back to Klingberg, who beat Sharks goaltender Kaapo Kahkonen. Trevor Zegras and Ryan Strome added goals for the Ducks, while Anthony Stolarz had 37 saves in his first game since he faced the Sharks on Dec. 9. Timo Meier had two goals for the Sharks, while Erik Karlsson added a first-period assist to extend his franchise-record point streak to 14 games. Matt Nieto and Steven Lorentz added goals for the Sharks, Kevin Lebanc logged two assists and Kahkonen made 24 saves. Yakov Trenin added a goal and an assist and Thomas Novak also scored for Nashville.

OTTAWA, Dec 21 (Reuters) - Canada's annual inflation rate eased to 6.8% in November as gasoline price rose more slowly, data showed on Wednesday, leaving the door open for another interest rate increase in January. Consumer prices rose 0.1% from October, Statistics Canada said, above analysts' expectations they would be flat. Excluding food and energy, prices rose 5.4% versus a 5.3% gain in October. "Today's data will leave the door open to a 25 basis point rate hike in November," said Royce Mendes, head of macro strategy at Desjardins Group. Gasoline prices rose 13.7% after gaining 17.8% in October, largely driven by price declines in Western Canada, Statscan said.

The central bank sets short-term interest rates but longer-term borrowing costs, such as for businesses and some mortgage rates, are determined by the bond market. Canadian bond yields, like U.S. bond yields, have tumbled since October as investors anticipate that the tightening cycle is nearing an end and the central bank is poised to shift to cutting rates next year. Bond yields, along with other measures, such as the strength of the stock market and the currency, help determine financial conditions, or the availability of funding in the economy. Since October, Canada's 5-year yield has tumbled nearly 100 basis points and the Toronto stock market (.GSPTSE) has rallied 11%. "Otherwise, we could be on an inflation and rates roller-coaster for years to come that is biased toward higher average inflation."

☆ HF Sinclair sinks after forecasting higher capital spend for 2023
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - Shares of HF Sinclair Corp (DINO.N) fell over 6% on Friday after the U.S. refiner forecast capital expenditure of $940 million to $1.15 billion for fiscal 2023, including its transportation business Holly Energy Partners (HEP.N). Shares fell to $57.38 in afternoon trading, their lowest level in six weeks and worst day in ten. Turnarounds made up a bulk of HF Sinclair's expected costs for next year, at $530 million to $630 million. HF Sinclair was formed as a parent company after HollyFrontier Corp bought almost all of Sinclair Oil Corp's assets for $2.6 billion. Other refiners Phillips 66 (PSX.N), Marathon Petroleum Corp (MPC.N), Valero Energy Corp (VLO.N) and PBF Energy Inc (PBF.N) were down 2%-6%.

"I remember reading a book once called, 'Sacred Cows Make the Best Burgers,'" Poirier said at the company's investor day. Calgary, Alberta-based TC is widely known for its Keystone oil pipeline, a critical artery for moving Canadian oil to U.S. refiners that dominated headlines over the past decade for an expansion that ultimately failed. Keystone could fetch TC C$12.8 billion, said CIBC analyst Robert Catellier in a note. He added that reducing TC's oil exposure would help it reach its emissions-reduction goals. TC's stake in the Millennium natural gas pipeline in New York state is another logical sale candidate and could fetch $1 billion, said Scotiabank analyst Robert Hope.

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