The Canadian Press
Traffic snarled as workers begin removing I-95 overpass scorched in Connecticut fuel truck inferno
NORWALK, Conn. — Workers on Friday began removing a bridge over a Connecticut highway that was damaged in a fiery crash involving a gasoline tanker truck — a project expected to keep both sides of Interstate 95 closed through the weekend and extend a traffic nightmare on the major artery linking New England and New York. Crews took down metal fencing on the span in Norwalk before two large excavators — one on each side of the highway — began demolishing the concrete sides of the structure. Bucke
Bloomberg
Hershey, Mondelez See Cocoa Prices Detached From Fundamentals
(Bloomberg) — Chocolate makers looking to lock in prices for next year’s cocoa are finding a frustrating reality: The runaway market has become disjointed from fundamentals, according of several of the sweet industry’s top executives.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTrump Auditions VP Picks Before Wealthy Donors in Palm BeachTurkey Confirms All Trade Halt With Israel Over War in GazaH
Yahoo Finance Video
Starbucks stock sees worst post-earnings performance since 2000
Starbucks (SBUX) shares are sinking after disappointing second quarter earnings fell short of estimates. The beverage giant reported lower-than-expected revenue, earnings, and same-store sales growth, leading the stock to plummet to its worst post-earnings performance since 2000. Yahoo Finance Executive Editor Brian Sozzi breaks down what this could mean for top Starbucks leadership. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl
Yahoo Finance Video
Fed couldn’t ask for ‘anything better’ in jobs data: Strategist
April jobs data came out weaker than expected, with the U.S. economy adding 175,000 jobs, falling short of projections. Although the report appeared to disappoint, the Federal Reserve had been actively seeking a cooling in the labor market to support its efforts in taming inflation. To analyze the implications of this data, JPMorgan Private Bank Head of Specialized Strategies Steve Parker joins Catalysts. “I don’t think Fed Chair Powell could’ve asked for anything better than what we got today,” Parker states. He highlights the decelerating wage growth, the moderating labor market conditions, and the abating inflationary pressures as positive signs aligning with the Fed’s goals. Despite the jobs number missing estimates, Parker acknowledges that it still represented a “pretty healthy” level of job creation. Furthermore, he emphasizes that when considering the broader labor market data over the past couple of months, the evidence continues to point to “a very strong labor market,” with the slowdown primarily concentrated within government hiring sectors. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
The Hill
Russia seizes on final window before US weapons fortify Ukraine’s front lines
As Ukraine desperately awaits the arrival of new U.S. weapons and equipment approved last month, Russia is seeking to make the most of the remaining window. Moscow’s forces in the past week have taken several villages in eastern Ukraine after Kyiv’s threadbare army ceded ground, and they are positioned to secure additional territory in the…
The Canadian Press
Google, Justice Department make final arguments about whether search engine is a monopoly
WASHINGTON (AP) — Google’s preeminence as an internet search engine is an illegal monopoly propped up by more than $20 billion spent each year by the tech giant to lock out competition, Justice Department lawyers argued at the closings of a high-stakes antitrust lawsuit. Google, on the other hand, maintains that its ubiquity flows from its excellence, and its ability to deliver results customers are looking for. The U.S. government, a coalition of states and Google all made their closing argumen
The Canadian Press
Pipeline operator TC Energy sees natural gas deliveries rise as power demand booms
CALGARY — Canadian pipeline operator TC Energy Corp. achieved record deliveries on its natural gas pipeline systems in the first quarter, thanks to booming North American electricity demand. The Calgary-based company said Friday its comparable earnings from its Canada, U.S. and Mexico natural gas segments amounted to $2.37 billion in the first three months of 2024, up from $2.18 billion in the same period of 2023. The company said deliveries on its NGTL system, which transports natural gas from
Reuters
US stands to lose Canadian natural gas when LNG Canada terminal starts up
The start-up of LNG Canada, the country’s first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where demand for the fuel is record high, companies said. Shell-led LNG Canada has begun testing its C$40-billion British Columbia terminal ahead of commercial operations starting in mid-2025. The terminal will process up to 2 billion cubic feet per day (bcfd), representing 11% of current Canadian gas output.
Bloomberg
Trump Media’s Accounting Firm Accused of Massive Fraud Affecting More Than 1,500 SEC Filings
(Bloomberg) — The Securities and Exchange Commission accused the auditor of Donald Trump’s social-media company of massive fraud that affected more than 1,500 regulatory filings.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTrump Auditions VP Picks Before Wealthy Donors in Palm BeachTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in P
Reuters
Bank of Canada closer to being able to cut rates, Macklem says
OTTAWA (Reuters) -The Bank of Canada is getting closer to being able to start cutting interest rates from their current 23-year highs, Governor Tiff Macklem said on Wednesday. In testimony to the Senate banking committee, Macklem said inflation was coming down and Canadians wanted to know when the central bank would start cutting interest rates. Canada’s annual inflation rate was 2.9% in March, a little higher than the previous month.
The Canadian Press
TD Bank hit with $9.2M penalty after failing to report suspicious transactions
TORONTO — Canada’s financial-crime watchdog has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S. The penalty by the Financial Transactions and Reports Analysis Centre of Canada, or Fintrac, comes after it imposed a $7.5-million fine against RBC and a $1.3-million fine against CIBC, both of which were announced in December. Those penalties were also
The Canadian Press
There’s a limit to how much interest rates in Canada and U.S. can diverge: Macklem
Bank of Canada governor Tiff Macklem says Canadian interest rates don’t have to match U.S. or global rates, but there is a limit to how much they can diverge. Macklem made the comments while testifying before the House of Commons finance committee today. The governor says Canada is nowhere close to the limit when it comes to how much Canadian and American interest rates can differ. The Bank of Canada is widely expected to begin lowering its policy rate in the coming months, while forecasters exp
The Motley Fool
My Top 2 Canadian AI Stocks to Buy in May
Shopify (TSX:SHOP) and another tech firm that’s innovating on the front of generative AI technology! The post My Top 2 Canadian AI Stocks to Buy in May appeared first on The Motley Fool Canada.
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Contents
Traffic snarled as workers begin removing I-95 overpass scorched in Connecticut fuel truck infernoHershey, Mondelez See Cocoa Prices Detached From FundamentalsStarbucks stock sees worst post-earnings performance since 2000Fed couldn’t ask for ‘anything better’ in jobs data: StrategistRussia seizes on final window before US weapons fortify Ukraine’s front linesGoogle, Justice Department make final arguments about whether search engine is a monopolyPipeline operator TC Energy sees natural gas deliveries rise as power demand boomsUS stands to lose Canadian natural gas when LNG Canada terminal starts upTrump Media’s Accounting Firm Accused of Massive Fraud Affecting More Than 1,500 SEC FilingsBank of Canada closer to being able to cut rates, Macklem saysTD Bank hit with $9.2M penalty after failing to report suspicious transactionsThere’s a limit to how much interest rates in Canada and U.S. can diverge: MacklemMy Top 2 Canadian AI Stocks to Buy in May
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