North American stock markets surge on Federal Reserve signals of a rate cut

North American stock markets surge on Federal Reserve signals of a rate cut
TORONTO — North American markets bounced back with their second best day of the year after the Federal Reserve signalled possible interest rate cuts to address trade challenges and a slowing economy. Fed chairman Jerome Powell didn’t explicitly say what the central bank would do, but he said during a speech that it is prepared to respond “as appropriate” to the Trump... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,166.24, up 150.35 points). Husky Energy Inc. (TSX:HSE). Energy. Up 32 cents, or 2.53 per cent, to $12.96 on 10.5 million shares. Aurora Cannabis Inc. (TSX:ACB). Health care. Up 92 cents, or 9.54 per cent, to $10.56 on 8.2 million shares. Encana Corp. (TSX:ECA). Energy. Up two... Read More

OSFI increases domestic stability buffer for big banks to 2.00 per cent

OSFI increases domestic stability buffer for big banks to 2.00 per cent
OTTAWA — The federal banking regulator is increasing the domestic stability buffer for the country’s systemically important banks to 2.00 per cent from 1.75 per cent. The Office of the Superintendent of Financial Institutions said Tuesday that on balance the systemic vulnerabilities remain elevated while economic conditions continue to be accommodative. It noted that specific vulnerabilities covered by the buffer continue to include... Read More

Case of Huawei executive Meng Wanzhou returns to Vancouver court this week

Case of Huawei executive Meng Wanzhou returns to Vancouver court this week
OTTAWA — The case of Huawei senior executive Meng Wanzhou, which has drawn interest from around the world, returns to a Vancouver courtroom this week. Canada’s relationship with Beijing has deteriorated rapidly since the December arrest of the Chinese telecom giant’s chief financial officer, which was carried out after an extradition request by the United States. A statement from Canada’s Justice Department says the purpose of... Read More

DHX Media says Sakthi Global Holdings has made unsolicited offer for company

DHX Media says Sakthi Global Holdings has made unsolicited offer for company
HALIFAX — DHX Media says Indian company Sakthi Global Holdings has made an unsolicited offer for the company. Trading in DHX shares was halted pending the announcement. Financial terms of the proposal were not immediately available. DHX says it will consider and evaluate any formal offer received in due course. It cautioned that there could be no certainty that a... Read More

Quebec firm Group Mach makes rival offer for Transat worth $14 per share

Quebec firm Group Mach makes rival offer for Transat worth $14 per share
MONTREAL — Quebec real estate developer Group Mach Inc. has made a takeover bid for Transat AT Inc. worth $14 per share or $527.6 million in cash, seeking to cut off Air Canada’s ongoing talks with the tour operator and convince the Quebec government to finance nearly one-quarter of the purchase. The offer comes after Transat announced last month it was in exclusive... Read More

U.S. stocks surge higher amid trade optimism, Toronto stock market up

U.S. stocks surge higher amid trade optimism, Toronto stock market up
TORONTO — The strength in the financial sectors helped lift Canada’s main stock index, while U.S. stock markets surged higher amid optimism the U.S. and Mexico could avoid a trade fight. The S&P/TSX composite index was up 47.37 points at 16,063.26 47.37. In New York, the Dow Jones industrial average was up 415.84 points at 25,235.62. The S&P 500 index was up... Read More

Tiffany sales hit as tourists take a brake on spending

Tiffany sales hit as tourists take a brake on spending
NEW YORK — Tiffany & Co. topped first quarter profit expectations but fewer tourists at U.S. stores, particularly from China, dragged on sales and the company trimmed its expectations for the year. Tiffany said earlier this year that holiday sales were hurt by a drop in spending by Chinese tourists, and that trend accelerated in the first three months of... Read More

Air Canada signs deal with Drone Delivery Canada to market and sell services

Air Canada signs deal with Drone Delivery Canada to market and sell services
MONTREAL — Air Canada has signed an agreement with Drone Delivery Canada Corp. to help market and sell drone delivery services. Under the terms of the deal, Air Canada Cargo will market and sell drone delivery services across Canada. Air Canada Cargo has also agreed that it won’t use or engage with any other drone delivery service providers. The initial term... Read More