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.
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.
Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.