Apr 12, 2023

Biden’s EV Plan Needs Transmission Lines That Haven’t Been Built TSX today: Tech and industrial stocks push index higher Blamed for Putinflation Abroad, Russia Is Now Seeing Prices Dive Big Bond Moves Before US Inflation Data Spur Fresh Questions on Leaks US Families Find Some Relief as Prices of Many Household Necessities Retreat Emerson Electric to Buy National Instruments in $8.2 Billion Deal Traders Boost Bets on Fed Rate Cuts by Year End After CPI Billionaire Boehly’s Failed SPAC Deal Gives Rare 13% Return to Stockholders T. Rowe to Test Avalanche Blockchain in Renewed Push on Wall Street Shopify Stock Jumps After Gaining One More Wall Street Bull Private Equity’s Latest Money-Making Trade: Buying Its Own Debt China, World Bank Exploring Solutions to Debt-Distress Deadlock Ukraine Latest: Blinken Denounces Moscow Over Access to Reporter Warren Buffett’s Texas Power Push Sparks a Berkshire Backlash US and China Are Sending Global Debt to Record, IMF Warns US Core Inflation Slows Only a Bit, Keeping Fed on Track to Hike IMF Can’t Punish Zambia for Absence of Debt Deal, Minister Says Fed’s Barkin Says There’s More Work to Do to Rein in Inflation Buffett Praises BYD and TSMC After Selling Shares of Both Firms How claiming income from side gigs can lower your tax bill As Canadians miss out on benefits, Ottawa promises automatic tax filing is on the way Here's a list February inflation rates for Canadian provinces Is your retirement portfolio ready for what's to come? Women more likely to bag $100,000 jobs despite fewer applications Quitting your job? Experts say it's best to have a plan before you do Household debt-to-income ratio edges lower as interest payments expand Canadians making fewer trips to the grocery store as inflation pinches: RBC report With airfares rising, here's how to find a travel deal this year Young Canadians keep up pandemic-inspired DIY projects to save money Here are the most risky types of scams in Canada: Report Review your rights before signing paperwork during a layoff: Employment lawyers More than half of Canadians say current economic conditions have impacted retirement plans: Survey Majority of Canadians feel like they're being targeted more than ever by financial fraud: Survey 'Don't be afraid to ask': Tips for young workers in salary negotiations Canadians want to retire by 61, amid financial concerns: CIBC poll Tax credits and deductions for Canadians to consider 5 RRSP season resolutions for a comfortable retirement: Dale Jackson Getting divorced? Here are the top tax considerations to take into account Bank of Canada Holds Rates at 4.5% and Sees Soft Landing Adler Wins €6 Billion Debt Revamp Despite Opposition Employees Call Out Locker-Room Culture at Phoenix Suns Owner’s Company US 30-Year Mortgage Rate Drops a Fifth Week to Two-Month Low Bank of Canada to Stay on Pause Despite Strong Economic Growth Ho Chi Minh City’s Home Sales Hit Record Low in 1Q: CBRE Data Britain’s Remortgaging Pain Is Only Getting Started Berlin’s Housing Market Bounces Back Up After Brief Price Drop Hong Kong Shared Office Firm Sees Leases Surge on China Demand ByteDance Moves Into Iconic Hong Kong Tower as Banks Depart American Dream Mall Lenders Owed $389 Million Can Collect, Judge Says DoubleLine Says It Is ‘Perfect Time’ for New Real Estate ETF Billionaire Thomas Lee’s NYC Office Up for Lease After His Death Blackstone Raises More Than $30 Billion for Giant Real Estate Fund RBC poll shows mix of optimism and uncertainty about Canada's housing market IMF Warns It’s Too Soon to Sound All-Clear on Financial Turmoil Federal Home Loan Banks Get Backing From Advisers to Biden as Criticism Mounts China’s Credit Grows Faster Than Expected Following RRR Cut Bank of Korea Holds Key Rate, Plans to Keep Policy Restrictive Clean-Tech Subsidy War Erodes Safety Nets, Canadian Finance Minister Says Biden’s EV Plan Needs Transmission Lines That Haven’t Been Built Trump-Era Rollback Not to Blame for SVB, FDIC Vice Chairman Says Blamed for Putinflation Abroad, Russia Is Now Seeing Prices Dive Fed’s Daly Says More Rate Hikes May Not Be Needed to Slow Inflation Musk Says Most Twitter Advertisers Have Returned as Profit Nears Swiss Watch CEOs From Patek to Oris See Slowdown After Boom Big Bond Moves Before US Inflation Data Spur Fresh Questions on Leaks US Likely to Sanction Individuals In EU Member Hungary US Families Find Some Relief as Prices of Many Household Necessities Retreat 3D-Printed Rocket Startup Relativity Pivots Weeks After First Flight Test Louis Vuitton Owner’s Sales Jump as Chinese Splurge Again US Credit and Debit Card Spending Slows to Weakest Pace in Two Years, BofA Says Emerson Electric to Buy National Instruments in $8.2 Billion Deal Billionaire Boehly’s Failed SPAC Deal Gives Rare 13% Return to Stockholders T. Rowe to Test Avalanche Blockchain in Renewed Push on Wall Street French President Macron Seeks to Defend Stance on China After Backlash Shopify Stock Jumps After Gaining One More Wall Street Bull JPMorgan Calls Managing Directors Into Office Five Days a Week Biden’s EV Plan Needs Transmission Lines That Haven’t Been Built Blamed for Putinflation Abroad, Russia Is Now Seeing Prices Dive US Families Find Some Relief as Prices of Many Household Necessities Retreat Emerson Electric to Buy National Instruments in $8.2 Billion Deal Ukraine Latest: Blinken Denounces Moscow Over Access to Reporter Warren Buffett’s Texas Power Push Sparks a Berkshire Backlash US Core Inflation Slows Only a Bit, Keeping Fed on Track to Hike ConocoPhillips CEO Sees More Shale Deals as Investors Stay on Sidelines Netherlands Plans to End LNG Imports From Russia, Minister Says Argentina’s Epic Drought Is Pushing Economic Crisis to New Extremes One of Tech’s Cleanest Companies Is Making Tools for Coal Mines and Oil Drills Tesla Gives Car Shoppers Reason to Wait as Prices Keep Falling Eskom Latest: Cuts Extend, Restoring Pylons May Take Five Days Egg Prices Fall the Most Since 1987 After Recent Surge Turkey Opens Gas Link With Bulgaria to Blunt Russian Dominance India Inflation Falls Below RBI Target as High Rates Nip Demand Diamondback Is Exploring Sale of Non-Core West Permian Assets Kurdish Oil Exports Stay Halted as Iraq Negotiates With Turkey Ghana Inflation Falls More Than Estimates on Lower Fuel, Food Costs READ: Bank of Canada's rate announcement statement The Daily Chase: Awaiting Bank of Canada rate decision; MTY Food Group beats analyst expectations Grocery's power imbalance has politicians, shoppers questioning rising prices Full impact of past Bank of Canada interest rate hikes not yet seen: expert The Daily Chase: Glencore sticks to Teck Resources pursuit; Canadians fear economic downturn TSX recap: Index finishes 0.39% higher amid broad-based gains Bank of Canada between 'a rock and hard place' heading into rate decision: Strategist Regional routes see higher airfares, fewer flights even as new carriers emerge Will the Bank of Canada hold rates? Here's what to expect this week More than 40% of farm operators to retire by 2033: report The Daily Chase: Markets point to flat open; Canadian mining sector resists foreign ownership Economy keeps adding jobs as population grows, despite high interest rates Canadians spending on travel and services but cutting back on restaurants, goods: RBC Canadians turning to savings accounts to cope with high living costs: Survey The Daily Chase: Canada adds nearly 35,000 in March; Aimia faces opposition Buyers return to Toronto housing market as prices climb after sluggish period: TRREB Energy executives say feds must make good on pledge to speed up project approvals Canadian merchandise trade surplus slips to $422M in February: StatCan The Daily Chase: Toronto home prices climb; TD Bank short-sellers pile up US Likely to Sanction Individuals In EU Member Hungary Ukraine Latest: Blinken Denounces Moscow Over Access to Reporter US Calls For End To Northern Ireland Assembly Impasse Tim Scott Launching 2024 Presidential Exploratory Committee Eskom Latest: Cuts Extend, Restoring Pylons May Take Five Days Sunak Says He’s ‘Keen’ to Reach Deal With Striking UK Doctors Ghana Inflation Falls More Than Estimates on Lower Fuel, Food Costs Roa Named Ecopetrol CEO to Pursue Petro’s Energy Transition France Seeks Domestic Buyer for Nuclear-Submarine Parts Supplier Trucks Crossing Europe’s Busiest Alpine Pass May Need to Reserve Bulgarian Lawmakers Fail to Elect Speaker in Sign of Deadlock Swiss Parliament Grapples With Compromise on UBS Guarantees California Social Media Addiction Bill Advances in Narrower Form As DeSantis Lags Trump in 2024 Polls, He Tries to Gain Momentum Outside of Florida Chinese Diplomat Says US Must Change Attitude Before Any Talks Xi Hosts Brazil’s Lula in Diplomatic Push for Ukraine Cease-Fire US, Philippines Slam China’s ‘Provocative’ Acts in Disputed Sea Citi Sees Up to $50 Billion Inflow to Turkish Assets After Vote South Korea Tries $500 Handouts to Help Reclusive Kids Get Out 3D-Printed Rocket Startup Relativity Pivots Weeks After First Flight Test Emerson Electric to Buy National Instruments in $8.2 Billion Deal T. Rowe to Test Avalanche Blockchain in Renewed Push on Wall Street French President Macron Seeks to Defend Stance on China After Backlash Shopify Stock Jumps After Gaining One More Wall Street Bull Private Equity’s Latest Money-Making Trade: Buying Its Own Debt Buffett Praises BYD and TSMC After Selling Shares of Both Firms Apple Supplier Cirrus Falls on Risk From IPhone 15 Design Change Intel to Work With Arm to Boost Its Outsourced Production Effort TCS Profit Misses Estimates After Companies Curb IT Spending NPR Quits Twitter After Musk Labels It ‘State-Affiliated Media’ One of Tech’s Cleanest Companies Is Making Tools for Coal Mines and Oil Drills Tesla Gives Car Shoppers Reason to Wait as Prices Keep Falling BOE Governor Says Small Bank Depositors Need Greater Protection Short Sellers Duel Fans of Samsung Memory Chip Rival  SK Hynix FTX’s Legal Bills Show Progress on Exploring a Crypto Exchange Reboot Taiwan Says China Curtailed Plan for No-Fly Zone After Complaint JPMorgan and H&M Join Big Tech’s Carbon Removal Effort California Social Media Addiction Bill Advances in Narrower Form The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. DoubleLine Says It Is ‘Perfect Time’ for New Real Estate ETF Investors Pull Cash From Oil Despite OPEC+ Cuts as Demand Fears Linger BOJ’s Kuroda Bows Out After Decade of Shock and Awe Easing The Biggest ETF Launch Ever Is Just a $2 Billion ESG Fund Reshuffle A $15 Billion Swap-Based ETF Exposes the Latest ESG Headache Gundlach’s DoubleLine Launches Real Estate and Mortgage ETFs at Tricky Time Stock ETFs See Lowest Quarterly Inflow Since Start of Pandemic Worst-Performing Funds of 2023 Are Drawing Huge Amounts of Cash BlackRock Looks to Offer 'Buffer ETFs' That Aim to Limit Investors' Losses AI and Robotics ETFs Are Hotter for Traders Than Crypto in 2023 Wave of ETF Closures Relegates Once-Trendy Growth Themes to Fads Beijing’s Micron Probe Spurs $12 Billion Rally in China Chip Stocks Bitcoin’s Stealth Rally Puts It Atop the Quarterly Scoreboard Once Again Schwab ETF Logs $4.6 Billion Inflow Amid Quarter-End Shuffle Biotech Stocks Languish After Dismal Quarter of Clinical Results This Week in China: Stock Market Starts to Believe in Recovery Levered Bitcoin ETF Makes Long-Shot Bid at SEC as Crypto Rallies Why ESG in America May Face a Rough Road Ahead Sleepy Schwab Bond Fund Notches $2 Billion of Flows in One Day BCE CEO says tech hiring & donations continue despite tough economy Cenovus CEO Pourbaix to step down, become executive chair; Jon McKenzie to be new CEO Manulife CEO on diversification, insurance demand and digital transformation Decision on new Suncor CEO expected 'very soon' Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Restaurant Brands' CEO change is 'all about accelerating growth': Executive chairman Reed Hastings explains why he's stepping down as Netflix CEO in blog post Bankman-Fried says in court that he's ready for U.S. extradition SBF sent back to Bahamian jail after catching lawyer off guard with U.S. extradition plan Disney's Iger returns to reckon with his own 15-year Legacy Women making small gains, but still troublingly under-represented in the C-suite Gerry Schwartz to step down as CEO at Onex, Bobby Le Blanc named next CEO Dominic Barton on Canada-China relations, future at Rio Tinto 'We’re serving Canadians better' following the pandemic: McKesson Canada CEO Rebecca McKillican World's richest family loses US$11.4B in Walmart rout 'Fine balance': Rania Llewellyn on fitting her long-term inclusion goals into Laurentian's revamp First female bank CEO in Canada leads with younger self in mind ​Company holiday parties are making a comeback, but many employers have a plan B Elon Musk and Jeff Bezos now worth almost half a trillion dollars Bailey Lipschultz, Bloomberg News Todd Boehly, founder and chief executive officer of Eldridge Industries LLC, attends a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, Oct. 18, 2021. The event brings together individuals with the capital, power, and influence to change the world and connects them with those whose expertise and creativity are reinventing health, finance, technology, philanthropy, industry, and media. Photographer: Kyle Grillot/Bloomberg , Bloomberg (Bloomberg) -- The collapsed tie-up between Horizon Acquisition Corp. II — the SPAC started by billionaire Todd Boehly — and private plane service Flexjet will bring a rare double-digit return to investors during a tough period for blank-check firms. Flexjet will pay a $30 million termination fee to Horizon, enabling the special-purpose acquisition company to distribute $11.33 per share to common stockholders. That’s a roughly 13% return for investors who bought the stock at its $10 initial public offering price or snapped up shares at a discount since its debut. Shares of the SPAC rallied 12% to $11.29 Wednesday. Horizon intends to liquidate, with its last trading day on April 25. The broken deal is the year’s 17th canned SPAC pact. Blank checks, which raise money with the goal of taking private companies public, are supposed to offer safe returns for early investors who buy in at the IPO price and bank the subsequent gains. Among the biggest winners from Horizon’s bolstered liquidation price are the sponsors, who own roughly 88% of the Class A shares, the company said in a statement. The SPAC raised $525 million in its October 2020 IPO, however, about two-thirds of its shares were redeemed for cash by investors two years later. The SPAC carried a deal sweetener: a warrant entitling holders to buy more shares at a discount if things went well, creating the prospect of a windfall for investors who bet on it early and a binary option for others. Horizon Acquisition II’s warrants, which traded as high as $3.27 in March 2021, will be worthless when they expire — wiping out millions for those who traded the derivative. Boehly, an ex-Guggenheim Partners executive who co-owns the Los Angeles Dodgers, is among several high-profile financiers to start SPACs during the blank-check company boom over the past few years. He brought Vivid Seats Inc. public in October 2021 — the ticketing marketplace company closed at $8.25 on Tuesday. SPACs have been closing and returning cash to investors at an increasing rate. At least four blank checks announced plans to liquidate on Tuesday evening alone, that’s on top of 74 that have already shuttered this year, data from SPAC Research show. ©2023 Bloomberg L.P.