Christine Dobby

Elbows Up, Pens Down: Carney Burns Political Capital by Scrapping Budget Also: Canadian stocks are so back

Mark Carney drew criticism when his finance minister said the government has no plan to release a budget soon. But it’s also worth looking at another early move by the Canadian PM. Read more in this week's Bay Street Edition, Bloomberg's Canada newsletter: www.bloomberg.com/news/newslet...

Helpful list from the CBC on which ridings remain too close to call. Liberals would need to flip 4 of these without losing any other seats in order to get to a majority. www.cbc.ca/news/politic...

Donald Trump said: "American banks, are not allowed to do business in Canada. Can you believe that?”

We can’t, because it isn’t true, says @christinedobby.bsky.social in the Bay Street Edition.

www.bloomberg.com/news/newslet...

Trudeau Tries to Brush Off Deputy’s Exit as Festive Family Spat A defiant Prime Minister Justin Trudeau, all smiles at his political party’s end-of-year festivities, tried to downplay the most serious challenge yet facing his leadership.

A defiant Prime Minister Justin Trudeau, all smiles at his political party’s end-of-year festivities, tried to downplay the most serious challenge yet facing his leadership.

“Like most families, sometimes we have fights around the holidays..."

It’s Maximum Chaos in Ottawa as Freeland Eviscerates Trudeau The story behind 12 hours of turmoil in Canada’s capital

Chrystia Freeland's resignation letter began with the typical bromides, then absolutely eviscerated the prime minister. A special edition of our Canada newsletter, with insight from @brianplatt.bsky.social, looks at the turmoil in the capital www.bloomberg.com/news/newslet...

The Great Canadian Mortgage War Is Coming Also: All the fallout over Trump’s tariff pledge

Bay Street Edition: We look at the prospect of a Canadian mortgage war, what to expect from bank earnings next week and CI Financial’s privatization plan. Plus, are you old enough to be reading this tweet? www.bloomberg.com/news/newslet...

Here's US data on "encounters" with border staff -- yellow line is Mexico border, black line is Canada.

Vast majority of the latter are people trying to enter US through a regular border-entry point (but aren't authorized/no paperwork etc). Very few are sneaking into US from Canada off the grid.

Canadian Stocks Drop as Traders Sell Into Trump’s Tariff Threats Industrial stocks led declines in Toronto on Tuesday after US President-elect Donald Trump threatened 25% tariffs on goods produced in Canada and Mexico on Monday night.

with @stephaniehughes.bsky.social:

Industrial stocks led declines in Toronto on Tuesday after US President-elect Donald Trump threatened 25% tariffs on goods produced in Canada and Mexico on Monday night.

Hard to read, but another important story about teens and the opioid crisis

TD Investors Turn Spotlight on Board as US Penalties Sink In Also: How Roy Gori made the decision to retire as Manulife CEO

TD Bank's money-laundering problems destroyed CEO Bharat Masrani's legacy, but now some shareholders are asking: where's the accountability for the board? Read Bay Street Edition, our weekly newsletter: www.bloomberg.com/news/newslet...

Public service journalism 👏

Groupe Dynamite Shares Fall 2% in First Canadian IPO of 2024 Groupe Dynamite Inc. shares fell 2% in Toronto after its C$300 million ($215 million) initial public offering, Canada’s first corporate listing since March 2023.

Latest from me:
The trading gives Groupe Dynamite a market value of about C$2.2 billion, and Chief Executive Officer Andrew Lutfy’s stake around C$1.9 billion.

Gautam Adani Charged by US Over Alleged $250 Million Bribe Plot US prosecutors charged Gautam Adani with helping drive a $250 million bribery scheme, threatening to throw the Indian tycoon’s conglomerate back into turmoil just as it rebounded from a short-seller’s...

La Caisse mêlée malgré elle à cette affaire…

www.bloomberg.com/news/article...

Fast-Fashion Retailer Groupe Dynamite Seals $215 Million IPO in Canada Canadian fast-fashion retailer Groupe Dynamite Inc. will start trading in Toronto on Thursday after sewing up a C$300 million ($215 million) initial public offering that will cement its largest shareh...

Women’s fast-fashion retailer Dynamite starts trading on the TSX today after sealing a C$300M IPO, the first big corporate listing in a hot minute (close to two years). Ticker for the company, which also owns Garage, is GRGD. Story from @mathieudion.bsky.social

www.bloomberg.com/news/article...

Here's Layan and Paula's story on official news of Harper's appointment as AIMCo chair today www.bloomberg.com/news/article...

Amazing. I can't WAIT to see who plays you!

Province appoints former PM Harper as AIMCo board chair, names three other members The Alberta government has appointed former prime minister Stephen Harper as chair of AIMCo's board of directors.

As Bloomberg's Paula Sambo, Layan Odeh and Dawn Lim reported last week... Alberta has appointed ex-Canadian PM Stephen Harper to be chair of the provincial investment manager AIMCo calgaryherald.com/business/pro...

Canada's competition watchdog is investigating two of the country's largest furniture retailers, Leon's and The Brick (same owner), for alleged deceptive marketing related to tactics like inflated regular prices used when touting sales, false urgency to end of promos www.newswire.ca/news-release...

Going to try this again, as the previous link might not work. Starter pack of Bloomberg News journalists in Canada. Please follow us!

bsky.app/starter-pack...

Holocaust Denial Tests Tech Giant Shopify’s Free Speech Ethos Shopify Inc., Canada’s biggest tech company, is drawing criticism for hosting an online store full of antisemitic merchandise, in a test of what the e-commerce platform is willing to accept under a ne...

New from me: Shopify, Canada’s biggest tech company, is drawing criticism for hosting a store full of antisemitic merchandise, in a test of what the e-commerce platform is willing to accept under a new lighter-touch rulebook

Not just on the Bloomberg terminal

Manulife CEO Gori to Retire in May, Witherington to Succeed Him Manulife Financial Corp. said Chief Executive Officer Roy Gori will retire in May and be succeeded by Phil Witherington, head of the company’s Asia business.

CEO News: Manulife's Roy Gori, 56, will retire in May and be succeeded by the company's Asia head Phil Witherington. Health and longevity enthusiast Gori is leaving to spend more time with his family and pursue other passions, he said in an internal memo today www.bloomberg.com/news/article...

Robotics Startup Sanctuary AI Cuts Jobs After Two Co-Founders Leave Canadian robotics startup Sanctuary AI cut jobs following the departures of its founding chief executive officer and another co-founder.

Scoop: Humanoid robotics startup Sanctuary AI cut jobs following the departure of its founding CEO a few days ago, and another co-founder earlier this year

Public Ambush Sends Alert to $120 Billion Alberta Pension: Government’s In Charge It was supposed to be a bonding experience.

Alberta's finance minister chose a dramatic way to purge the top leadership of pension manager AIMCO: He sacked them during an offsite meeting at the Westin hotel that included 170 staff. Our reporters have the inside story on what happened, and why.
www.bloomberg.com/news/article...

Mass Firings at Aimco Are a Warning Shot for the Maple Model Also: What pushed the TSX past 25,000 this week

Alberta Finance Minister Nate Horner chose the most dramatic way possible to show who's in charge at Aimco: He turned up at a leadership offsite to sack the CEO. Read more in Bay Street Edition, Bloomberg's weekly newsletter, written by me: www.bloomberg.com/news/newslet...

Public ambush sends alert to $169 billion Alberta pension: Government’s in charge “To restore confidence in the agency, Alberta’s government has decided to reset the investment corporation’s focus with a new CEO and board,” the government of Alberta said in a statement.

“No well-run firm replaces all of its executive team and whole board at once. That’s a recipe for disaster.”
Bloomberg on the UCP government's kablooeying at AIMCo www.bnnbloomberg.ca/business/com...