Hudson's Bay to acquire Neiman Marcus for 2.65 billion
Hudson's Bay Co. reportedly reached a deal to buy Neiman Marcus for US 2.65 billion, per Wall Street Journal and New York Times. The Toronto based group would add the U S luxury retailer with 36 locations to HBC which already owns Saks Fifth Avenue and Saks Off 5th. News follows months of market chatter as HBC revamps after closing Home Outfitters in 2019 and selling Lord & Taylor to Le Tote.
MENTIONED IN THIS ARTICLE
Hudson’s Bay Co
Neiman Marcus
Wall Street Journal
New York Times
HBC
U.S
Saks
Home Outfitters
Lord & Taylor
le Tote Inc
Saks Fifth Avenue
Saks Off
Canada stocks rise as U S jobs data cools labor market
Canada's S and P TSX composite climbs 269.87 points to 22 223.67 as soft U S job data lift bonds and equities. U S indices mix after early close for Independence Day with the Dow down and the S P 500 and Nasdaq at new highs. Tech stocks Tesla and Nvidia lift markets while the Fed notes inflation cooling but remains data dependent.
MENTIONED IN THIS ARTICLE
Canada
U.S
S&p
Gardner
Tesla
Nvidia
Rental housing boom pushes Canada growth but demand outstrips supply
RBC economist Rachel Battaglia notes rental housing starts rose to decade highs in 2022 and 2023 with over 80,000 units each year and are set to rise again amid strong demand and policy support. Population growth and immigration push demand, while rental vacancies hit a record low of 1.5 percent.
MENTIONED IN THIS ARTICLE
Canada
RBC
Rachel Battaglia
Battaglia
Bank of Canada
OMERS sells LifeLabs to Quest Diagnostics for 1.35B
Ontario pension fund OMERS agrees to divest LifeLabs to Quest Diagnostics for 1.35 billion including debt. LifeLabs will keep its brand and Canadian HQ. OpenText plans about 1,200 job cuts as part of a global efficiency push.
MENTIONED IN THIS ARTICLE
Toronto
Ontario
OMERS
Ontario Municipal Employees Retirement System
LifeLabs
Quest Diagnostics
Jim Davis
OpenText Corp
Mark Barrenechea
Waterloo
Lseg Data & Analytics
OpenText
Canada May merchandise trade deficit widens to 1.9 billion
Statistics Canada reports May exports fell 2.6 percent to 62.4 billion, dragging the merchandise trade deficit to 1.9 billion as energy and mineral product shipments drop. Imports declined 1.6 percent to 64.4 billion, with energy goods and vehicles leading declines, while services deficit eased to 1.0 billion. Overall, combined goods and services deficit reaches 2.9 billion.
MENTIONED IN THIS ARTICLE
Canada
Statistics Canada
BMO
Shelly Kaushik
Kaushik
U.S
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the Canadian Press
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CKPR
CTV
KARE
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PBS
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Poltergrad
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Macy's
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Young
Sheldon
Ghosts
Polterguest
Capitol
NRG
Houston
Business TV
CNBC
CNN
America
CPAC
Travis Dhanraj
the National
StatCon
Marijuana Palace
Machar
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