Jun 2, 2023

Amazon Is in Talks to Offer Free Mobile Service to US Prime Members Germany Needs €14 Billion to Make Gas and Heating Networks Clean GOP Lawmakers Ramp Up Calls to Retaliate Over China’s Micron Ban Long-Time Nvidia Investor Trims Holdings as AI Rally Overheats Subway Auction End In Sight With Roark, Advent Circling How AI Is Being Used to Help Explain Stock Moves Wall Street betting on a U.S. Fed hike, but not in June Hourly Pay for US Shale Workers Tops $43, a Record in the Industry’s Hunt for Employees Carvana Cancels $1 Billion Debt Swap as Creditors Hold Out Fed Seen Sticking With Rate Pause as Wages Show Some Cooling Lula’s Nominees for Brazil’s Central Bank Unlikely to Attend Next Rate Decision A Brazilian Billionaire Amps Up His Hedge Fund Bet ESG Fund Manager Beats 99% of Peers With Giant Bet on Nvidia China Allows Argentina to Spend Up to $10 Billion of Currency Swap Line Hedge Funds Cash In on Covid-Era Tax Credit With IRS Backlog Bond Traders Cement Bets on One More Fed Hike After Jobs Report K-Pop Stocks’ $5.4 Billion Rally Emboldens Bulls Here Are the Key Takeaways From US Jobs Report for May Putin’s War Ignites Backlash Against Dollar Across the World Ballooning debt takes the highest toll on home equity borrowers: Dale Jackson How to invest globally without taking on a world of risk: Dale Jackson How improving your financial literacy can help ease stress in a tough economy Considering tenant insurance? Here's what you need to know first How to be the model driver, and get a break on car insurance Pattie Lovett-Reid: Protecting yourself financially from the risks of dementia Fixed income investors can breathe easier as inflation recedes: Dale Jackson Summer on a shoestring budget: Tips for surviving summer break as camp costs rise Why re-investing your tax refund is the smart option Owe money to the CRA this tax season? Here are some repayment options PSAC: Will Canada's tax deadline be moved due to the strike? How claiming income from side gigs can lower your tax bill Paper filing is dying but free income tax software lives on: Dale Jackson Tax deadline: Strike not a major issue for most Canadians, expert says 'Give yourself time and space': How to manage your finances during times of grief Experts explain how to cope with money stress Experts share effective ways to tackle student debt As thousands flock to day trading during lockdown, experts urge caution Dual income, no kids: Why some young Canadians are choosing this lifestyle A Huge Sonoma Mansion Hits the Market for $15 Million China Mulls New Property-Market Support Package to Boost Economy SBB Founder Steps Down as CEO of Troubled Swedish Landlord SBB’s CEO Heads to London in Need of Buyers to Save His Company Toronto House-Price Gains Accelerate Again Before Rate Decision Chinese Stocks in US Rally on Sign That Policy Support May Come Luxury Gym Entrepreneur David Barton Makes a Comeback in NYC: Review UK House Prices Are Falling Again — And There’s More Pain Ahead ICD Brookfield Considers Stake Sale in Iconic Dubai Tower Pet Drug Maker Strikes £4.5 Billion Buyout Deal: The London Rush This Week in China: Biggest Reopening Fans Are Now Underweight Evergrande Unit Faces 1,426 Lawsuits Involving $49 Billion Chanel Adds New Hong Kong Retail Space as Tourists Return Investors Zero In on China Local Debt Blowup as Top Risk in Asia Swedish Home Prices Continue Downward Trend as Rate Hikes Bite Hawkish Australian Economists See RBA Raising Key Rate to 4.6% SoftBank-Backed Habi Plans Mexico Growth With IDB Invest Funding The cost of a single-detached house in the GTA shot up in the first quarter of 2023 Calgary home sales reach new May record, new listings down: real estate board Chicago Sued Over Deal to Lease Public Land to Ex-Mayor’s Billionaire Donor Amazon Is in Talks to Offer Free Mobile Service to US Prime Members Jemele Hill to Leave Spotify and Shut Down Her Podcast Network Germany Needs €14 Billion to Make Gas and Heating Networks Clean GOP Lawmakers Ramp Up Calls to Retaliate Over China’s Micron Ban Target Sheds $14 Billion in Value on Retail Uncertainty, LGBTQ Backlash Air Canada says to expect further travel disruptions following Thursday's IT issues Long-Time Nvidia Investor Trims Holdings as AI Rally Overheats Centerview Partner Emlen Fischer Leaves for Startup Factorial Dell Reports Sales Topping Estimate as Business PCs Surprise Subway Auction End In Sight With Roark, Advent Circling How AI Is Being Used to Help Explain Stock Moves DuPont, Chemours and Corteva to Pay $1.19 Billion in Forever-Chemicals Deal Hourly Pay for US Shale Workers Tops $43, a Record in the Industry’s Hunt for Employees Carvana Cancels $1 Billion Debt Swap as Creditors Hold Out Fed Seen Sticking With Rate Pause as Wages Show Some Cooling A Brazilian Billionaire Amps Up His Hedge Fund Bet A Huge Sonoma Mansion Hits the Market for $15 Million Amazon Fired Another Alabama Union Organizer, Union Says Centerview Partner Emlen Fischer Leaves for Startup Factorial Hourly Pay for US Shale Workers Tops $43, a Record in the Industry’s Hunt for Employees ESG Fund Manager Beats 99% of Peers With Giant Bet on Nvidia China Mulls New Property-Market Support Package to Boost Economy Ukraine Urges EU to Stop Ban on Crop Exports to Neighbors South Africa’s Locomotive Shortage Unresolved After China Visit Oil advances as market eyes weekend OPEC+ meeting in Vienna National Grid to Speed Up Connections to UK’s Power Network China Mulls Extending Tax Exemption for Cheaper Electric Cars Tesla Price War Padded By $1.8 Billion Windfall from Biden’s IRA The Fed's Inflation Fight Faces a New Challenge: A Dry Panama Canal EQT Nears Deal for Vet Drugmaker Dechra Pharmaceuticals Global Food Costs at 2-Year Low But Grocery Bills Stay High How Climate Scientists Predict India’s All-Important Monsoon Rains India Mulls Green Ammonia Tender to Curb Fertilizer Emissions Palm Oil Production Seen Surging in Malaysia as Workers Return Half of China Cities Face Debt Service Difficulty, Rhodium Says How to Have a Low-Carbon, High-Impact Summer Trip Fortescue Hires Morris to Complete All-Female CEO, CFO Team Home sales up 25% from last year, but supply remains low: Toronto real estate board Is Canada still heading for a recession in 2023? 'Earn while you learn:' Co-op programs gain appeal amid rising cost of living ​Commercial real estate looks strong despite office struggles: RE/MAX report How happy are Canadians in the workplace? Satisfaction is on the rise What the latest GDP report means for a Bank of Canada rate hike What slowdown? Economy continues to outperform ​Household credit card debt rises for third consecutive month The Daily Chase: Canada's economy expands in Q1; National Bank beats earnings expectations Dearth of skilled workers, funding dents tech adoption by manufacturers: survey The Daily Chase: United Conservative Party wins Alberta election Technology could be key to future wildfire prevention, fighting: companies Wednesday's GDP data will be key for Bank of Canada rate decision: Strategist Canada's immigration system should prioritize workers from in-demand industries: Expert Oilpatch restarts production that was shut in due to Alberta wildfires The Daily Chase: U.S. debt deal clears major hurdle; Alberta election day Scotiabank economist explains his call for another Bank of Canada interest rate hike StatCan report casts clouds on claims of a widespread labour shortage in Canada Canadian companies adopt 'stay interviews' as workers rethink careers, needs GOP Lawmakers Ramp Up Calls to Retaliate Over China’s Micron Ban DOJ Closes Pence Classified Documents Probe With No Charges Phone Tapping, Stolen Cash and Polygraph Scandal Roils Colombian Government Deals to let firms avoid bribery charges may be 'political kryptonite': Law professor Lula’s Nominees for Brazil’s Central Bank Unlikely to Attend Next Rate Decision Polish President Offers to Soften Russian Probe Law After Outcry All Eyes on US, China as Shangri-La Defense Forum Starts UK Government Offers Civil Servants £1,500 Bonus to End Pay Row Ontario commits to cover 1/3 cost of Stellantis deal, Ford urges feds to close deal Erdogan Picks Market Darling Simsek to Return as Turkey's Finance Chief Australia’s Albanese Says US-China Conflict ‘Not Preordained’ Sunak Quietly Tries to Fix China Ties Without Upsetting UK Hawks Ukraine Recap: Kyiv Thwarts Missile Barrage; Drones Hit Russia South Africa’s Beaten-Up Assets Draw Wall Street to Start Buying Pride Planners: How We’ll Celebrate Despite Anti-Drag, Anti-LGBTQ Laws Senegal Opposition Head Sentenced to Jail for 'Corrupting Youth,' Barring Him From Polls Boris Johnson Provides Covid WhatsApps Directly to UK Inquiry Chinese Envoy Says ‘Fruitful’ Talks on Ukraine May be Difficult Bad-Mouthing The State Is Outlawed Before Election in Zimbabwe Amazon Is in Talks to Offer Free Mobile Service to US Prime Members Jemele Hill to Leave Spotify and Shut Down Her Podcast Network GOP Lawmakers Ramp Up Calls to Retaliate Over China’s Micron Ban Long-Time Nvidia Investor Trims Holdings as AI Rally Overheats Dell Reports Sales Topping Estimate as Business PCs Surprise How AI Is Being Used to Help Explain Stock Moves Federal government provides $5.9M for Indigenous clean energy projects in B.C. Amazon Fired Another Alabama Union Organizer, Union Says ESG Fund Manager Beats 99% of Peers With Giant Bet on Nvidia Everything Apple Plans to Show at WWDC: XR Headset, iOS 17 and More K-Pop Stocks’ $5.4 Billion Rally Emboldens Bulls Barclays CEO Addresses Dealmaker Exits in Virtual Town Hall Cboe Is Now Listing Companies Alongside NYSE and Nasdaq Trending today: U.S. debt deal, Twitter exec resigns BofA Says AI Frenzy Drives Record Inflows Into Tech Chinese Stocks in US Rally on Sign That Policy Support May Come Do AI’s Leaders Really Want to Regulate the Industry? Big Take Podcast How Climate Scientists Predict India’s All-Important Monsoon Rains Laptop Makers Bet on Better Display Tech to Rekindle Sales 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. K-Pop Stocks’ $5.4 Billion Rally Emboldens Bulls Cboe Is Now Listing Companies Alongside NYSE and Nasdaq Investors Are Dumping Value Funds to Shovel Money Into AI Bets Goldman’s Hedge Fund ETF Is Crushing the S&P 500 With AI Bets Euro-Area Core Inflation Eases But Won’t Stop ECB Raising Rates Currency-Hedged ETF Focused on Japan Set For Best Month of Flows Since 2017 HKEX Looks to Move Away From Fax Machines By Automating ETF Platform Cathie Wood Says Software Stocks Are Next AI Bet After Nvidia Stock Traders Turn to Options for Desperate Chase to Catch the Tech Rally Erdogan’s Win Puts Focus on New Cabinet, Policies: Reaction Wrap Cathie Wood Defends ARKK’s Decision to Dump Nvidia, Citing Chip-Cycle Risks There's a New King in Chip ETFs After Record $805 Million Inflow Traders Are Duped by Bear-Market Rally, Morgan Stanley’s Wilson Says Think Nvidia’s Move Is Wild? Check Out the Leveraged ETP AI-Focused ETF Assets Could Triple to $35 billion by 2030 Cathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion Surge BlackRock’s $9 Billion Quant ETF Set to Lean in on Nvidia, Tech What’s Causing the FOMO Drought in US Equities? Goldman Says Stocks Risk ‘Elevator Down’ With Quants Near Max Long BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Crystal Tse, Ruth David and Kamaron Leach, Bloomberg News A Subway Restaurant location in New York, U.S., on Friday, July 2, 2021. With new breads, smashed avocado and fresh mozzarella, the sandwich chain is trying to bring back the customers who’ve defected to more modern eateries like Jimmy John's and Chipotle Mexican Grill Inc. , Bloomberg (Bloomberg) -- The auction for Subway is expected to come to a head in about a month, with about a half-dozen parties still vying for the sandwich chain, including private equity firms Roark Capital Group and London-based TDR Capital, according to people familiar with the matter. Advent International is working with Goldman Sachs Group Inc.’s asset management arm on a bid while Sycamore Partners is also in the mix, said the people, who asked to not be identified because the matter isn’t public. Bain Capital and TPG Inc. have dropped out of the process, the people said. Subway is expected to fetch more than $9 billion, according to one of the people, after initially seeking more than $10 billion. The company is expected to pick a winner by around July 4, the people said. The people said other suitors are still in the auction, though their identities couldn’t be determined. Subway, one of the world’s largest restaurant chains with about 37,000 franchise-run locations in more than 100 countries, said in February it was exploring a sale and working with JPMorgan Chase & Co. The auction started in late January with the expectation that it would take around six months, one of the people said. The company initially drew about 20 bids but that has since been winnowed down about a half-dozen suitors, with the remaining parties partnering with co-investors, the person said. While JPMorgan is offering some financing to the eventual buyer, bidders are free to choose their own source of debt, the people said. Representatives for Roark didn’t respond to requests for comment while representatives for the suitors all declined to comment. A representative for Subway declined to comment. One of the most recognizable names in fast-food, Subway is the largest restaurant chain in the country by store count, dwarfing names like McDonald’s Corp. and Burger King. The company’s profitability has been squeezed as it spends money to overhaul stores to keep up with those rivals, which have been investing heavily to beautify locations and buildup their online capabilities. It’s also been grappling with stiffening competition from upstart sandwich chains such as Jersey Mike’s Subs. “Subway is focusing on strategic brand growth to boost franchisee profitability and protect the brand’s position in the market,” the company said in February, announcing 2022 results. ©2023 Bloomberg L.P.