The Daily Chase: Decision day in Rogers v Rogers; Hiring slows in Canada
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We’re about to find out who’s actually in charge at Rogers Communications Inc. British Columbia Supreme Court Justice Shelley Fitzpatrick is set to announce her decision at 2 p.m. PT/5 p.m.
We’re about to find out who’s actually in charge at Rogers Communications Inc. British Columbia Supreme Court Justice Shelley Fitzpatrick is set to announce her decision at 2 p.m. PT/5 p.m. ET after lawyers for Edward Rogers and RCI presented their arguments on Monday about the validity of Mr. Rogers’ overhaul of the company’s board of directors. We’ll set the scene throughout the day, and – a very important programming note: we’ll have LIVE special coverage of the decision starting at 5 p.m. ET, with Greg Bonnell in the anchor chair, Paul Bagnell on location in Vancouver, Tara Weber in Calgary, Andrew Bell in studio, and many others working behind the scenes to make sure we do this story justice on air and online at BNNBloomberg.ca.
JOBS DAY
If you’re strictly thinking of the expectation, Canada’s jobs market was a letdown last month as 31,200 jobs were added, compared to the 41,600 jobs that economists anticipated. No doubt it was a dramatic downshift from September, when 157,100 positions were created. Going through the details, the economic reopening story is evident, as 80,500 wholesale and retail trade jobs were added. Over in the U.S., job growth spiked to 531,000 from an upwardly-revised 312,00 in September.
MANULIFE MOVES FIRST AFTER OSFI GETS OUT OF THE WAY
The big insurer announced a dividend sweetener this morning and said it’s planning to repurchase up to 39 million of its common shares after the Office of the Superintendent of Financial Institutions unshackled federally regulated financial institutions. As for the banks, late yesterday, Credit Suisse Analyst Mike Rizvanovic reiterated his view in a note to clients that National and BMO have the most upside potential to raise their payouts. He also said TD has the most firepower for share buybacks.
OTHER NOTABLE STORIES
