David Rosenberg: Trudeau'S Big Dreams Could Actually Do More To Hurt Than Help Our Economy

in #economy25 days ago

This millennial is desperate to move to Hamilton, but has been outbid seven times: Victor Ferreira


A 31-year-old communications worker we’ll call Marilyn remembers the dozens of road trips to visit extended family members in Grimsby, Ont., when she was a child. Her parents would take a bridge that overlooked Hamilton and a young Marilyn, with her nose pres…

The 'Sweet 16' Big Tech stock rally is over. It's time for cyclicals to outperform Tesla and Apple: Colin McClelland


Technology stocks that powered the stock market’s resurgence during the pandemic may be running out of steam, and are being replaced by cyclical shares — companies poised to boost earnings because of improved economic conditions, according to Jefferies Resear…

David Rosenberg: Trudeau's big dreams could actually do more to hurt than help our economy: David Rosenberg


The Canadian federal government throne speech from Wednesday was an incredible 17 pages long, and only six of them were actually devoted to dealing with the COVID-19 pandemic. Nobody is going to quibble over the need for ongoing income support until either a …

Alberta couple's dream of spending half the year in Mexico can work, thanks to $1.2-million in financial assets: Andrew Allentuck


In Alberta, a couple we’ll call Herb and Sally, both 53, want to make their transition from building their retirement savings to spending them. Herb has been out of work for two years, Sally, a manager in a non-profit organization, quit her job in June, givin…

Throne speech gives 'most explicit' statement yet of plan to make tech giants pay their share: Barbara Shecter


The Liberal government’s Throne Speech Wednesday contained the strongest remarks yet about Ottawa’s plan to assist Canada’s cultural industries and traditional media players by extracting obligations, including taxes, from large global social media and entert…

'We're hungry': After Nuvei's blockbuster $833-million IPO, CEO says it is just getting started: Victor Ferreira


The CEO of the payments company that recently completed the largest tech IPO in the Toronto Stock Exchange’s history said his firm is just getting started and will have no trouble competing in the increasingly competitive sector.
Philip Fayer, chief executi…

'Critical measure': Business groups back extension of emergency wage subsidy program: Geoff Zochodne


The federal Liberal government says it will extend its employee wage subsidy to the summer of 2021, a decision that was welcomed by Canadian businesses groups. The move forms part of the government’s new campaign to try to return employment to pre-pandemic le…

Home prices to drop, new report predicts — and even Toronto and Vancouver won't be immune: Colin McClelland


The pandemic will punish Prairie house prices the most in Canada, but even hotspots Toronto and Vancouver will see prices drop on the back of rising rental market vacancies and lower immigration rates, according to a new report.
Average single family detach…

Natural resources sector suffers 'steepest decline ever' with 43,000 jobs lost: StatsCan: Geoffrey Morgan


CALGARY – Canada recorded its largest ever drop in natural resources employment in the second quarter, as the COVID-19 pandemic caused commodity prices to plummet and close to 43,000 workers lost their jobs.

In a release Wednesday, Statistics Cana…

A second wave is looming over stock markets and investors should be wary: Ted Rechtshaffen


Given what we have seen in broad North American stock market indexes over the past six months, you could make the statement that COVID-19 doesn’t affect markets.

From the bottom in late March until recently, markets have risen steadily despite a b…

Will holiday season save retailers' no-good, very poor year?: Larysa Harapyn


AGF Investments VP and Portfolio Manager Mike Archibald speaks with Financial Post’s Larysa Harypyn about the retail landscape.

  • CERB is ending — can a modified EI support enough Canadians?
  • Jim Pattison, Canada’s Warren Buffet, is…

    Restaurants, hotels could take more than 8 years to get back to pre-pandemic levels: Colin McClelland


    The pandemic may squeeze revenues of small Canadian businesses for years in a so-called L-shaped recovery unless Ottawa clears federal aid logjams and boosts consumer confidence, an entrepreneur group says.

    Restaurants and hotels could take more t…

    Man on a mission: How Wes Hall and the BlackNorth Initiative are bringing change to Bay Street: Joe O'Connor


    Wes Hall wears expensive suits, drives a fancy sports car, collects art and lives in a yellow-brick mansion in Toronto’s exclusive Rosedale neighbourhood. He is 51, fit and buff, has five kids and a great wife, and is widely respected as a Bay Street power br…

    Toronto condo dwellers flock to exurbs, creating domino effect across Southern Ontario real estate: Victor Ferreira


    A flood of Toronto residents leaving their downtown condos in search of more space and greater affordability is causing a domino effect across Southern Ontario real estate that is being felt as far away as Fort Erie, according to multiple brokers and agents i…

    Oil king, VC tycoon and volatile strongman: Saudi Arabia's MBS poses a challenge for Western governments — podcast: Gabriel Friedman


    Earlier this year, just when everyone started staying home, oil prices tanked and they tanked hard. The coronavirus was part of it, but Saudi Arabia and Russia were also flooding the market with oil, which turned out to be disastrous for many Canadian oil pro…

    'Safety is No. 1': College of Carpenters going extra mile to keep classes open during pandemic: Special to Financial Post


    A shortage of skilled trades workers has long been a drag on the Canadian economy, but at least one trade school is doing everything in its power to ensure students are able to continue to learn and prepare to enter the workforce despite challenges posed by t…

    'No rhyme, no reason': Markets rebound but analysts see further pullback as global recovery stalls: Colin McClelland


    After a massive selloff on Monday, markets rebounded on Tuesday despite a likely delay in new fiscal stimulus by U.S. Congress and an increase in the number of coronavirus cases dampened hopes of a faster global economic recovery.

    The S&P/TSX Comp…

    'Home run': Ford, Unifor reach tentative agreement on new contract, electric-vehicle investment: Geoff Zochodne


    Ford Motor Co. and Unifor have dodged a strike and reached a tentative agreement on a new labour contract, which the union says includes a commitment by the automaker to build electric vehicles in Canada with financial assistance from both the Ontario and fed…


    [news curation]@wakanda-forever



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