The Daily Chase: Markets OK with French election stalemate
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Here are five things you need to know this morning.
French election looking like the status quo: The votes have been counted in the second round of the French election and the results seem to be tending toward a stalemate, where parties on either extreme are unlikely to seize power. That seems to be the result that markets were hoping for, as the most likely outcome seems to be for centrist leader Emmanuel Macron to remain in charge in a coalition with leftist parties.
Paramount agrees to takeover from Skydance, ending Redstone era: Media conglomerate Paramount Global has agreed to a merger with Skydance Media in a deal that ends the Redstone Family’s decades of control over one of the most iconic Hollywood production studios. Paramount chair Shari Redstone, the granddaughter of the founder of the Hollywood empire that owns CBS, MTV and numerous other media production assets, has agreed to sell her family’s controlling interest in Paramount for US$2.4 billion. The move to sell to Skydance will give the company a cash injection that could hopefully be enough to turn its fortunes around. Paramount has more than $14 billion worth of debt on its books, a load that is making it harder for the company to stay nimble in a fast-changing industry. Paramount shares are up seven per cent in premarket trading.
CEO of TSX-listed DRI Healthcare Trust resigns: Shares of TSX-listed drug royalty company DRI Healthcare Trust will be one to watch today after the company’s board demanded that the CEO resign following “irregularities” related to consulting fees and other expenses submitted for reimbursement. Behzad Khosrowshahi has resigned from his position of CEO effective immediately and has been replaced on an interim basis by Ali Hedayat. CFO Chris Anastasopoulos has also been suspended with pay effective immediately. Sandy Kwan has been named interim CFO.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
Bank of Montreal said on Tuesday it plans to roll out tokenized cash capabilities in collaboration with CME Group and Google Cloud, as it seeks to meet rising demand for real‑time payments amid a global shift toward around‑the‑clock trading.
From rolled steel to kitchen cabinets, Canadian businesses hit by targeted U.S. tariffs are struggling to respond as the trade war drags into its second year.
Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
Gold seen as overbought as Iran tensions ease, with falling oil prices lifting stocks and shifting investor sentiment toward risk assets.
Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.
A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.