logo
Competition Bureau recommends more foreign investment, ownership of Canadian airlines

Competition Bureau recommends more foreign investment, ownership of Canadian airlines

CTV Newsa day ago

Canada should roll back restrictions on foreign ownership for domestic airlines, a new report from the Competition Bureau recommends.
Released Thursday, the report on competition within the airline industry advocates for a 'Leverage (of) international capital and experience to strengthen domestic competition,' including through raised ownership caps for investors outside Canada.
This is a developing story. More details to come.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Insurer Aflac discloses cybersecurity incident
Insurer Aflac discloses cybersecurity incident

CTV News

time17 minutes ago

  • CTV News

Insurer Aflac discloses cybersecurity incident

Insurer Aflac said on Friday it identified suspicious activity on its network in the United States on June 12. The company said it has reached out to third-party cybersecurity experts to investigate the incident and has commenced a review of potentially impacted files. These files contain personal information of its customers, including social security numbers and health-related details, it added. Shares of Aflac fell 1.6 per cent in premarket trading. (Reporting by Christy Santhosh in Bengaluru; Editing by Shailesh Kuber)

Trump's economic ‘golden age' meets Fed's brass tacks
Trump's economic ‘golden age' meets Fed's brass tacks

CTV News

time29 minutes ago

  • CTV News

Trump's economic ‘golden age' meets Fed's brass tacks

President Donald Trump speaks during an event to announce new tariffs in the Rose Garden at the White House, Wednesday, April 2, 2025, in Washington. (AP Photo/Mark Schiefelbein) WASHINGTON — U.S. President Donald Trump's inauguration promise in January that 'the golden age of America begins right now' remains unfulfilled in the outlook of Federal Reserve officials who so far see his policies slowing the economy, raising unemployment and inflation, and clouding the horizon with a still-unresolved tariff debate that could deliver a fresh shock in coming weeks. The U.S. central bank's response has been to put planned interest rate cuts on hold until perhaps the fall while the debates over tariffs and other administration priorities unfold, and to project a slower eventual pace of rate cuts to a higher stopping point. Effectively it embeds steeper borrowing costs into Fed policymakers' outlook to insure against inflation they now see as higher in coming months than they did before Trump took office for a second time. That isn't welcome news for Trump, who has called Fed Chair Jerome Powell 'stupid' for not slashing rates immediately. It is no more welcome for U.S. consumers and homebuyers hoping for lower financing costs. And it puts the Fed somewhat out of step with other central banks that continue to lower rates. But it does highlight how much Trump's early policy moves, particularly on tariffs, have reshaped the short-term outlook for the world's largest economy, which at the end of last year was seen on track for continued above-trend growth, full employment and inflation steadily falling to the Fed's two per cent target. The steady series of rate cuts policymakers anticipated just six months ago has been replaced with a more tentative path as they wait for Trump's final decisions on tariffs and watch how the job market, consumer spending and inflation evolve. 'We feel like we're going to learn a great deal more over the summer on tariffs,' Powell told reporters on Wednesday after the Fed held its benchmark overnight rate in the 4.25 to 4.50 per cent range for the fourth straight meeting, and issued new projections showing inflation rising substantially by the end of this year and coming down slowly after that point. Trump has latched on to recent weak inflation readings to argue for rate cuts, reiterating on Thursday that the Fed should slash its benchmark rate nearly in half and noting earlier in the week that the European Central Bank and others had kept easing monetary policy. But, referring to the impact of the tariffs imposed so far, Powell said 'we hadn't expected them to show up much by now, and they haven't ... We will see the extent to which they do over coming months ... That's going to inform our thinking.' LITTLE CONFIDENCE At this point, investors expect the Fed to cut rates at its Sept. 16 to 17 meeting, though much will depend on what happens during Powell's summer of watching and waiting. The most aggressive of Trump's tariff plans, levies on most trading partners announced on 'Liberation Day' in early April, were postponed after bond yields spiked, stocks dropped, and economists began penciling in a U.S. recession. The pause ends on July 9, with countries, including those in the European Union's combined trading bloc, supposed to negotiate deals by then or face steep import levies - 50 per cent in the case of the EU. The only completed deal so far is a limited agreement with Britain. Though the Fed's new policy statement this week said 'uncertainty about the economic outlook has diminished' since its May 6-7 meeting, when volatility around the trade issue was still intense, the situation could change quickly based on the July 9 deadline. 'We don't yet know with any confidence where they will settle out,' Powell said. At the meeting last month, a Fed staff projection regarded a recession this year to be 'almost as likely as the baseline forecast' of slowing but ongoing growth. The situation has since improved somewhat. Powell on Wednesday said the economy remains 'solid,' adding that as the risk of the most severe tariffs has abated, companies have begun to puzzle through how they might adapt to more modest levies. 'Businesses were in a bit of a shock after April too ... There's a very different feeling now that people are working their way through this ... It feels much more positive and constructive than it did three months ago,' he said. Prices of equities have marched higher as well, and the spike in Treasury yields that drove talk of the diminished status of the dollar has also eased. DIMMER OUTLOOK But skirting a recession is a large step from where the Fed was at the end of last year, when it was in sight of a 'soft landing' from the high inflation of the COVID-19 pandemic era. The economy was at full employment and steadily growing above trend, inflation was on track to fall to the Fed's 2% target, and the central bank expected to steadily ease borrowing costs. 'The U.S. economy is just performing very, very well,' Powell said after the Fed's Dec. 17 to 18 meeting, a session at which staff and officials had just begun thinking through the implications of a trade war that became much bigger in scope than they expected. 'The outlook is pretty bright.' It has dimmed since then. In projections issued this week, Fed policymakers' median outlook for gross domestic product growth had fallen to 1.4 per cent, well below trend, from the 2.1 per cent projected in December, with the unemployment rate projected to rise from the current 4.2 per cent to 4.5 per cent by the end of the year. That would be the highest level, outside of the pandemic unemployment spike, since early 2017, when Trump's first term was starting. Inflation that Powell said had been 'grinding down' is now anticipated to rise to 3 per cent this year and remain nearly half a percentage point above the Fed's target through 2026. The job market remains solid, Powell said, but he cautioned that assessment could change, and policymakers have said that their policy expectations could shift quickly if employment falters. 'Labor demand is softening,' Powell said. 'There's not a lot of layoffs, but there's not a lot of job creation. If you're out of work, it is hard to find a job ... That is an equilibrium we watch very, very carefully because if there were to be significant layoffs and the job-finding rate were to remain this low, you would have an increase in unemployment fairly quickly.' (Reporting by Howard Schneider; Editing by Dan Burns and Paul Simao)

The Marygold Companies Enters Agreement to Sell Canadian Subsidiary
The Marygold Companies Enters Agreement to Sell Canadian Subsidiary

National Post

time40 minutes ago

  • National Post

The Marygold Companies Enters Agreement to Sell Canadian Subsidiary

Article content SAN CLEMENTE, Calif. — The Marygold Companies, Inc. ('TMC' or the 'Company') (NYSE American: MGLD), a diversified global holding company, today announced that it has entered into a stock purchase agreement to sell its wholly owned Canadian subsidiary, Brigadier Security Systems Ltd. ('Brigadier'), to SKCAL LLC, an Arizona limited liability company whose sole member is a director and 11% shareholder of TMC. Article content The proposed transaction aligns with the Company's corporate strategy to direct resources toward growth in the financial services sector. It is expected to close on or about July 1, 2025. Total consideration is estimated to be approximately US $2.2 million. Brigadier, based in Saskatoon, SK, Canada, provides comprehensive security solutions to homes and businesses, government offices, schools and other public buildings throughout the province. Article content Nicholas Gerber, CEO of TMC, said, 'Our corporate goals and mission have been evolving over the past few years toward a focus on financial services, and our plan is to remain within this sector. I am delighted that one of our board members recognized the opportunity with Brigadier. While we had not put the company up for sale, the timing was right for both parties. The acquirer paid a fair market price, and we achieved an excellent return on our original investment. We have enjoyed and benefited from our ownership of Brigadier since 2016, and I am confident that Brigadier's future and that of its staff will continue to thrive under its new owner,' Gerber added. Article content The proposed transaction is subject to the customary prerequisites for transactions of this nature, including, but not limited to, completion of due diligence, board approval, fairness opinion and possible adjustments to purchase price after completion of audited financial statements. Proceeds from the sale of Brigadier will be used to pay down corporate debt and for general corporate purposes. Article content About The Marygold Companies, Inc. Article content The Marygold Companies was founded in 1996 and repositioned as a global holding firm in 2015. The Company currently has operating subsidiaries in ETF fund management, other financial services, food manufacturing, printing, security systems and beauty products, under the trade names USCF Investments, Marygold & Co. (UK) Limited, Step-By-Step Financial Planners, Ltd., Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout, respectively. Offices and manufacturing operations are in the U.S., New Zealand, U.K., and Canada. For more information, visit Article content Forward-Looking Statements Article content This press release includes 'forward-looking statements' within the meaning of U.S. federal securities laws. Words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may' 'will,' 'could,' 'should' 'believes,' 'predicts,' 'potential,' 'continue' and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements, including, but not limited to, completing the sale of its Brigadier Security Systems subsidiary, involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. Readers should refer to the further detail of the risks disclosed in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission and in the Company's other filings with the Securities and Exchange Commission. The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. Article content Article content Article content Article content Article content Article content Article content

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store