May 1-15, 2026

2026-05-14

[BNN Bloomberg Canada]: Honda confirms suspension of Ontario EV plant: Honda has confirmed it is indefinitely suspending development of its planned $15 billion electric vehicle project in Ontario, as the company shifts its strategy toward hybrid vehicles amid weakening EV demand and changing U.S. policy. The announcement comes as Honda posted its first-ever full-year loss. The company partly blames the high costs associated with its EV transition and policy changes under the administration of U.S. President Trump.

Home sales edge higher: Canadian home sales edged higher in April as lower prices and the arrival of the spring housing season brought more buyers back into the market. According to the Canadian Real Estate Association, national home sales rose 0.7 per cent from March, while the benchmark home price slipped 0.1 per cent— the slowest monthly decline since October. New listings also climbed more than four per cent.

Chinese president Xi Jinping signals openness with U.S.: Xi Jinping signaled China is moving toward greater openness, striking an upbeat note during his meeting with U.S. business leaders accompanying Trump as the two presidents wrapped up morning talks that featured more divisive issues like trade and Taiwan. “American enterprises are deeply involved in China’s reform and opening up, a process from which both sides have benefited,” Xi told more than 10 business representatives gathered at the Great Hall of the People in Beijing. “China’s door to the outside world will only open wider.” Executives at the meeting included Tesla’s Elon Musk, Apple’s Tim Cook, Boeing’s Kelly Ortberg and Nvidia’s Jensen Huang.

Canadian Tire slowdown: Canadian Tire’s second quarter results were weaker-than-expected, as softer consumer spending weighed on sales at its core retail business. Revenue and earnings both missed analyst forecasts, with comparable sales declining one per cent overall. The company says sales growth at Sportchek and Mark’s helped offset weakness at its flagship Canadian Tire retail division.

Manulife Q1 miss: Manulife Financial posted first-quarter earnings that slightly missed analyst expectations, though the insurer continued to see growth in its international business and wealth management operations. Manulife highlighted momentum in Asia, where core earnings rose 22 per cent year-over-year, driven by growth in key regional markets and continued demand for insurance and wealth products.

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2026-05-13

[Bnn Bloomberg Canada]: 18.5 billion mining merger: Two Vancouver-based mining companies are joining forces to create a North American-focused gold producer with a market value of about US$18.5 billion. Equinox Gold is buying Orla Mining in a cash and stock deal valuing Orla at US$5.1 billion. Buying Orla will give Equinox access to assets across the Americas including its flagship mine in Mexico. Equinox shareholders will own 67 per cent of the combined firm and Orla shareholders will own the remaining 33 per cent. We’ll find out more when BNN Bloomberg speaks with the CEOs of both companies this morning at 9:30 a.m. E.T.

Trump lands in China: U.S. President Donald Trump has landed in China for his meeting with his Chinese counterpart Xi Jinping. The trip will mark the first visit to the country by an American president in nearly a decade. Trump says his priority is to discuss trade and not the war in Iran. He was joined at the last minute by Nvidia CEO Jensen Huang, who is accompanying other executives including Elon Musk and Tim Cook.

Algoma Steel takes Q1 loss: Algoma Steel saw a first quarter loss of close to 160 million dollars, along with a drop in revenue compared with the same time last year. The Ontario-based company says it incurred more than US$27 million in direct tariff costs during the quarter. The steel maker attributes these changes to the company’s transition away from blast furnace operations to its new electric arc furnace platform.

Alibaba in the red: Alibaba saw its first operating loss in its latest quarter since 2021. Revenue for the same period grew but came in lower than expected. Among major Chinese tech firms, Alibaba is one of the biggest spenders with a pledge to spend about US$53 billion on AI over three years. China’s top AI firms are facing increasing pressure from investors to translate their AI expenditures into lucrative returns.

Saudi oil production lowest since 1990: Saudi Arabia says its crude oil production collapsed further last month to the lowest since 1990, as the Iran war choked off exports from the Persian Gulf. The kingdom’s output fell by another 651,000 barrels a day in April to 6.316 million a day, according to a monthly report from OPEC’s secretariat obtained by Bloomberg. It brings the loss since February to 42 per cent, and marks the lowest level since the start of the Gulf War 36 years ago, when OPEC nation Iraq invaded fellow member Kuwait.

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2026-05-12

[Bnn Bloomberg Canada]: U.S. inflation rises at fastest pace since 2023: U.S. inflation continued to accelerate in April amid an ongoing climb in gasoline prices driven by the Iran war and a jump in the cost of groceries. The consumer price index rose 3.8 per cent from a year earlier -- the fastest pace since 2023. Gas prices rose more than five per cent last month following a 21 per cent jump in March. Other categories including groceries and airfares also saw large increases.

BMO taking $900M charge on unit sale: Bank of Montreal is selling its business that finances trucks, trailers and equipment to New York-based asset manager Stonepeak. The unit has more than $14 billion worth of loans on its books. The bank expects to use a portion of the payments to take a stake of 19.9 per cent in the new entity. Terms of the deal were not disclosed, but BMO expects to record an after-tax charge of about $900 million.

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2026-05-11

[Bnn Bloomberg Canada]: Oil rises with no Iran-U.S. peace deal: The price of oil is rising again after the U.S. and Iran failed to agree on terms to end the war in the Middle East. Brent crude advanced more than two per cent to above US$103 a barrel as the Strait of Hormuz remained shut. Prices rose as optimism that the U.S. and Iran would reopen the waterway got dashed after U.S. President Donald Trump deemed Tehran’s latest proposals “totally unacceptable.” Bond yields climbed across the world as the standoff amplified fears of an oil-driven inflation shock and expectations of central banks tightening monetary policy

Barrick tops expectations: Barrick Mining beat estimates on profit and revenue in its latest quarter, and maintained its full-year production outlook. Barrick was helped by higher gold prices and improving operational performance, with free cash flow also climbing sharply. The miner also announced a US$3 billion share buyback, ahead of the planned IPO of its North American assets.

Advertising drop hits Cineplex: Cineplex saw weaker-than-expected first-quarter results as softer advertising demand weighed on performance. Revenue rose 16 per cent, driven by robust turnout for hit movies Project Hail Mary and Hoppers, but missed analyst estimates. The company pointed to a slowdown in theatre advertising, partly due to spending shifting toward the winter Olympics and tougher comparisons with a year ago. We’ll find out more when we speak with CEO Ellis Jacob today on BNN Bloomberg at 1:30 PM E.T.

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2026-05-08

[Bnn Bloomberg Darren Sissons’ Top Picks]: Accenture PLC, Alphabet, S&P Global

MARKET OUTLOOK:

Markets reacted violently to the Iranian conflict in the first quarter of 2026, flipping funds out of non-artificial intelligence (AI) growth into energy to chase conflict gains.

That transition triggered two challenges. First, taxation triggered gains on divested growth investments is due in March 2027 with further tax due on energy sector trims or exits also in March 2027. Second, the risk of a sudden reversal on energy gains when peace breaks out is high and is especially pronounced for investors late to the conflict trade.

For clients, we trimmed energy winners during the first quarter, raised dry powder, and deployed capital into sectors adversely impacted by the conflict trade. The logic is simply: you make money when you buy so deploying dry powder into high quality names temporarily impacted by the conflict is a winning strategy.

The geopolitical nature of current energy gains is also concerning given the second Trump administration approval rating has fallen below 30 per cent. Midterm elections in November raise the specter of a “lame duck” presidency in his final two-year term i.e., voters typically reflect negative economic views (high energy prices and rising unemployment) and their dissatisfaction at the ballot box.

Consequently, the U.S. president is likely to implement growth catalysts and perhaps end the Iranian conflict early in order to avoid “lame duck” status.

We suggest against increasing oil exposure now. Health care and medical technology are trading at attractive entry levels.

Software and the data-driven industrial companies, which have been adversely impacted by the AI-hype thematic, are also attractively priced.

[Bnn Bloomberg Canada]: Unemployment rate rises with 17,700 jobs lost: Canada’s unemployment rate rose to its highest in six months in April, as the economy lost 17,700 jobs. Employment losses were concentrated in information, culture and recreation, construction and in other services. The jobless rate increased for youth by half a percentage point to 14.3 per cent. Meanwhile U.S. employers added to payrolls for a second month in April, marking the first back-to-back advance in nearly a year, and the unemployment rate held steady. Non-farm payrolls rose 115,000.

Big day for Canadian earnings: It’s another busy day for earnings, with some of Canada’s biggest companies reporting their latest results. First quarter profit for Enbridge came in slightly above estimates. The Calgary-based energy company added $2 billion worth of projects this quarter, bringing its order backlog to $40 billion. Enbridge says price fluctuations, rapidly shifting geopolitical dynamics and unexpected supply disruptions have significantly impacted the energy landscape. Profit for Brookfield Asset Management rose 11 per cent, driven by strong fundraising and an increase in fee paying assets. The company raised $21 billion in new investment during the quarter. Aritzia’s latest quarter brought a 35% jump in profit and a revenue increase that was almost as high. The Vancouver-based company continues to open more boutiques and push a recently launched app. The retailer says profit grew despite the significant impact from tariffs and other duties. First quarter income for Telus fell a little more than eight per cent but met estimates. Revenue was also slightly down from last year, with the Vancouver-based company seeing a 40 per cent drop in mobile phone additions. Telus also announced a new CFO.

Ottawa granting Ford $464.5M for Ontario plant: Ottawa has granted $464.5 million to Ford to refit the automaker’s plant in Oakville, Ont. to make heavy-duty pickup trucks. The grant will help Ford produce 100,000 trucks annually and build a metal stamping facility by 2029. The plant used to make the Ford Edge and Lincoln Nautilus, but it closed for retooling as part of Ford’s $1.8-billion plan to make electric vehicles. About 3,000 people were laid off. But as the growth in EV sales slowed, Ford scrapped the EV plan.

Finance Minister on BNN Bloomberg: The federal government projected a nearly $67 billion deficit for 2025-2026 in its latest economic update - almost $12 billion lower than the previous estimate. The update outlined several measures, including spending billions on training and hiring skill-trade workers. Still, there are some concerns the deficit room is being used to spend more. BNN Bloomberg’s Amanda Lang spoke with Finance Minister Francois-Philippe Champagne, and he says given the fog of uncertainty, the move is to help Canadians in the time of need.

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2026-05-07

[BNN Bloomberg Canada]: BCE profit drops but tops expectations: Profit fell in the latest quarter at BCE but topped analyst estimates, supported by growth in revenue and strong performance from its business and media divisions. Bell Media continues to benefit from digital streaming growth, including gains at Crave and sports streaming platforms. Bell also highlighted rapid expansion in AI-related business services. We`ll find out more when we speak with BCE President and CEO Mirko Bibic, Friday at 10:10 am E.T. BCE is the parent company of BNN Bloomberg, through its Bell Media division.

Nutrien profit misses estimates: Nutrien posted first-quarter earnings that missed analyst expectations, despite growth in sales and fertilizer demand. The Saskatchewan-based company saw revenue rise sharply from a year ago, driven by higher sales across its retail, potash, nitrogen, and phosphate businesses. Fertilizer prices rose during the quarter, led by a surge in nitrogen costs as global supplies tightened due to the middle east conflict.

Sherritt suspending Cuba operations: Sherritt International is suspending participation in its joint venture in Cuba, following expanded U.S. sanctions under the Trump administration. The company says it has not been formally designated under the executive order, but notes such a designation could occur at any time. Sherritt says it is bringing employees back from Cuba and there is currently no immediate impact on its Canadian operations.

CNQ beats expectations: Canadian Natural Resources posted first-quarter earnings that topped analyst expectations, helped by higher production and continued strength in its natural gas operations. Profit slipped to $1.35 billion - more than a billion less than the same period last year. The energy producer saw overall output rise from a year ago, with gains in natural gas and crude oil production helping offset a slight decline in bitumen volumes.

McDonalds tops estimates: Revenue and profit in the latest quarter at McDonalds beat analysts’ expectations, despite what CEO Chris Kempczinski calls “a challenging environment.” In McDonald’s home market, same-store sales increased 3.9 per cent, fueled by customers spending more when they visited. While the fast-food giant has leaned into value to win over budget-conscious diners, it has also been trying to appeal to customers through marketing and innovation, usually at a slightly higher price point.

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2026-05-06

[Bnn Bloomberg Canada]: Oil down, stocks up on hopes for Iran war end: Stocks powered higher, while oil prices and bond yields fell sharply, following reports that the U.S. and Iran are nearing a peace deal. The reports say both sides are working toward a short, one-page memorandum, with negotiations appearing to gain momentum after a pause in U.S. military activity in the region. Officials expect a response from Iran on key issues within the next couple of days. Brent crude slid 9.2 per cent to below US$100 a barrel. Nasdaq 100 futures jumped 1.6 per cent while those for the S&P 500 gained one per cent, with both gauges set to build on record highs.

Loblaw Q1 slightly above estimates: Loblaw’s first-quarter results came in slightly ahead of expectations, supported by steady performance across its grocery and pharmacy businesses. The retailer saw modest growth in both food and drugstore sales, helping lift overall revenue. The company is maintaining its outlook for the year and continues to expect solid earnings growth, as it invests in store improvements and operations.

Cenovus boosting dividend: Cenovus Energy is bumping up its dividend by 10 per cent after delivering a quarter driven by higher production and elevated oil prices. The Calgary-based company’s strongest-ever quarterly production cycle saw a significant jump in profit, helped in part by stronger margins in its oil sands operations and contributions from its recent acquisition of MEG Energy.

Burger King drives RBI sales growth: Same-store sales at Restaurant Brands International came in slightly ahead of expectations in the latest quarter, helped by an ongoing rebound at its Burger King chain. The company benefited from steady demand as fast-food operators lean into value offerings to attract consumers facing higher living costs. The results follow a similar trend across the industry, with rivals also seeing gains tied to discount-driven traffic. RBI’s Tim Hortons unit delivered its 20th consecutive quarter of positive comparable sales.

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2026-05-05

[BNN Bloomberg Canada]: Slowing growth hits Shopify: Shares of Shopify traded down by more than eight per cent in the pre-market after the Canadian e-commerce platform gave an outlook that showed revenue growth slowing. Shopify expects revenue in the second quarter to increase at a “high-twenties percentage rate” from a year earlier. That compares to revenue growth of 39 per cent in the quarter just ended. A former stock market darling, at times this decade Shopify has been the most valuable company in Canada. However, its shares are down by more than 21 per cent so far this year.

Cameco tops expectations: Cameco’s first-quarter results beat expectations with profit and revenue driven by higher uranium prices and solid production. The company says performance across its uranium, fuel services and Westinghouse segments remains on track, supported by a disciplined operating strategy. Cameco added its balance sheet remains strong, as it prepares for planned maintenance and future supply flexibility. We’ll find out more when we speak with Cameco CEO Tim Gitzel today on BNN Bloomberg at 10:20 a.m. E.T.

TMX Group profit more than doubles: TMX Group reported a sharp rise in first-quarter profit, driven by strong growth across its core business lines. The Toronto-based exchange operator posted net income of $224.62 million, more than double the same period last year. Revenue also climbed to a record level, reflecting increased activity across both trading and subscription-based services. Last month, TMX agreed to acquire CBOE’s operations in Canada and Australia.

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2026-04-03

[Bnn Bloomberg Canada]: Markets react to latest U.S.-Iran tensions: The price of oil moved higher and stock futures moved lower as tensions continue in the Middle East. The U.S. is denying an Iranian media report that Iranian military struck an American naval vessel with missiles. This follows U.S President Trump saying the U.S. will help ships stranded in the Persian Gulf transit the Strait of Hormuz, calling it a humanitarian gesture. The plan left ships confused with very few details. In response, Iran’s military said U.S. forces would be attacked if they entered the strait.

OPEC+ to increase production: OPEC nations and their allies will slightly increase crude production next month as the Iran war continues to impact global oil supply. During a virtual meeting on Sunday, the group decided to raise production by close to 200,000 barrels a day. However, the move is mostly symbolic until the Strait of Hormuz is fully opened. This will be the third consecutive monthly increase by the bloc. It comes after the United Arab Emirates’ surprise exit from OPEC.

Spirit Airlines shuts down: Discount American air carrier Spirit Airlines has shut down operations. Spirit says the move follows failed efforts to restructure the business and secure funding. A sharp rise in fuel costs and other pressures worsened spirit’s financial position, leaving it without enough capital to continue. The airline operator’s bankruptcy leaves thousands out of a job and several passengers stranded over the weekend,

Moneris takeover talks: U.K.-based newspaper The Financial Times is reporting U.S. private equity group Francisco Partners is in talks to buy Canadian payments processor Moneris. The report says a deal could value Moneris — a joint venture of Royal Bank of Canada and Bank of Montreal — at as much as $2 billion and may come together by the summer. The banks reportedly put the payments venture up for sale last year. Toronto-based Moneris is Canada’s leader in payments, with more than 325,000 points of commerce across the country.

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2026-05-01

[Bnn Bloomberg Canada]: Trump approves new Canada-U.S. oil pipeline: U.S. President Donald Trump has signed a permit for a new cross-border oil pipeline, reviving elements of the cancelled Keystone XL pipeline project. The pipeline will transport Canadian crude into Wyoming. it is being proposed by Bridger Pipeline, a private oil transportation company based in Wyoming. Keystone XL was proposed by Calgary’s TC Energy. Trump has said America doesn’t need Canada’s oil, but with this announcement officials are saying the new pipeline will support North American energy security.

Air Canada suspends outlook due to fuel price uncertainty: Air Canada has suspended its full year outlook, citing a surge in jet fuel prices linked to the Iran war. The airline says the spike is creating a significant shock for the industry and testing travel demand. Air Canada added it will try to offset some of the cost pressures while also adjusting its route network. Air Canada reported its latest results Thursday after the bell. Revenue and adjusted earnings both came in above estimates.

Apple’s rosy outlook: Shares of Apple traded higher in the pre-market after its revenue forecast for the third quarter came in above expectations. This comes even as the tech company warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.” The outlook bodes well for incoming chief executive officer John Ternus, who takes the reins from Tim Cook on Sept. 1.

Agnico Eagle profit more than doubles: Agnico Eagle Mines beat analyst expectations on both profit and revenue in its latest quarter. The gold producer benefited from higher selling prices, with earnings more than doubling from a year ago. The company is also sticking with its forecast of at least 3.3 million ounces of gold production for this year. We’ll find out more when Agnico CEO Ammar Al-Joundi speaks to BNN Bloomberg today at 10:10 am ET.