Pinterest plunges as tariffs weigh on large customers’ ad spending
BNN Bloomberg
Pinterest shares tumbled 21 per cent to their lowest since the 2020 pandemic lows after the image-sharing platform’s weak forecast showed that major advertisers are pulling back spending just as AI tools threaten to upend the market.
The company’s quarterly revenue projection fell short because of lower marketing spend by large U.S. retailers grappling with tariff-induced business uncertainty.
Pinterest is also rebuilding its sales teams after company-wide layoffs of under 15 per cent last month that were meant to power its AI pivot but fell flat with investors.
Competition for advertising dollars is also heating up as OpenAI tests ads in ChatGPT, and Google rolls out features that allow consumers to buy products while looking for AI-powered answers in search and its Gemini chatbot.
That adds to a crowded field where brands are already favoring established players such as Meta and TikTok, which now exists as a separate entity in the U.S.
Pinterest’s results were also in contrast to the upbeat performances from Snap and Reddit.
The impact of the Iran war on fuel prices in Canada may encourage more drivers to go electric, some experts say, but others warn the conflict will drive up prices of "pretty much everything."
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.