The Daily Chase: Rogers boardroom fight heads to court; Biden calls out climate laggards
BNN Bloomberg
The dispute that has seen two groups claim to be the rightful board of directors of Rogers Communications Inc. heads to the B.C. Supreme Court today.
The dispute that has seen two groups claim to be the rightful board of directors of Rogers Communications Inc. heads to the B.C. Supreme Court today. Justice Shelley Fitzpatrick will hear Edward Rogers’ petition to confirm his hand-picked board that he says was legitimately put in place after he availed himself of his power as chair of the Rogers Control Trust. The outcome could decide CEO Joe Natale’s future with the company – right as it’s trying to close the planned $20-billion takeover of Shaw Communications.
Paul Bagnell is on the ground in Vancouver and will bring us details throughout the day on air and at BNNBloomberg.ca; and we’ll have insight from investors, as well as legal and governance experts.
G20 LIMPS INTO COP26
U.S. President Joe Biden called out China, Russia and Saudi Arabia yesterday for dragging their feet on measures to address climate change, saying in his closing news conference at the G20 summit that they “basically didn’t up show up.” The group of 20 failed to deliver ambitious new climate targets, instead saying they “acknowledge the key relevance” of achieving net-zero emissions “by or around mid-century.” They also said all the right things (minus concrete plans) about the desirability of limiting the average temperature increase to 1.5 degrees Celsius. There was one firm policy action related to climate: the group said they’ll stop subsidizing new offshore coal power generation by the end of this year. Much will be said this week about finance’s role in securing a cleaner future; on that front, if you missed it, check out Jameson’s deep dive on the burgeoning market for sustainability-linked loans.
CATALYSTS AHEAD
The U.S. Federal Reserve’s policy announcement on Wednesday is this week’s main event; we’ve also got Canadian and U.S. jobs on Friday to look forward to. We’ll set the scene for the events with market moving potential. Will also point out here that monthly home sales figures from Canada’s largest housing markets will be released this week.
