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The dollar strengthened significantly, rising over 2% against the Mexican peso and 1% against the Canadian dollar, following President Trump's announcement of tariffs against both countries. This shift comes after a period of weakness for the dollar, as markets reacted positively to Trump's nomination of hedge fund manager Scott Bessent as U.S. Treasury secretary. Analysts suggest that Trump’s actions are a reminder of his influence over the markets.
Condominiums have become a staple of Toronto's skyline, offering an affordable path to home ownership. However, beneath their sturdy exteriors lies a precarious financial situation that poses significant risks to their long-term viability. The challenges faced by these multi-storey buildings could threaten their future stability.
President-elect Donald Trump announced plans to impose a 10% tariff on all Chinese goods entering the U.S. and a 25% tariff on products from Canada and Mexico, effective upon his inauguration on January 20. This move is part of his strategy to reshape trade relations with these countries.
Abu Dhabi’s Mubadala Capital is backing a deal for Canadian mutual fund manager CI Financial Corp. to go private for approximately C$4.7 billion ($3.4 billion). Shareholders will receive C$32 per share, reflecting a 33% premium over the recent closing price, while the company will maintain its headquarters in Canada, with some insiders rolling their shares into the privatized entity.
President-elect Donald Trump plans to impose new tariffs on imports from Mexico, Canada, and China starting on his first day in office, targeting Canada and Mexico with a 25% tariff and China with a 10% tariff. This strategy aims to leverage trade negotiations to address issues like illegal migration and drug trafficking, while potentially increasing market volatility. Despite the tariff threats, the overall economic outlook remains positive, with expectations of solid US growth supported by pro-business policies.
UBS Group has upgraded Constellation Software (TSE:CSU) to a "strong-buy" rating, reflecting positive sentiment from multiple research firms. Price targets have been raised by CIBC, BMO Capital Markets, TD Securities, and National Bankshares, with the consensus now at C$4,800.00. The stock opened at C$4,587.90, showing a market cap of C$97.22 billion and a P/E ratio of 108.38.
Canadian Prime Minister Justin Trudeau has reintroduced a spending strategy as inflation decreases and elections approach, leading to a bond selloff amid expectations of increased growth and a larger deficit. On Thursday, he unveiled a C$6.3 billion tax break and rebate package, which includes a two-month suspension of federal sales tax on various items and a C$250 payment for nearly 19 million Canadians, nearly half the population.
Grey Wolf Animal Health Corp. reported a 5.7% increase in Q3 2024 revenue to $6.9 million, with a year-to-date revenue rise of 4.6% to $20.1 million. The company launched two new products, Sileo® for dog anxiety and MicroSilver+ Shampoo for skin health, contributing to a 22.2% increase in Adjusted EBITDA to $1.2 million for the quarter.
The Alberta government has appointed former Prime Minister Stephen Harper as chair of the Alberta Investment Management Corporation (AIMCo), tasking him with growing the Heritage Savings Trust Fund to over C$250 billion in 25 years. This follows a leadership shake-up that included the dismissal of AIMCo's board and CEO due to rising costs without improved returns. Harper's appointment is seen as a move to enhance governance, with some previously dismissed board members reinstated for continuity.
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