Markets & money
Finance
Palm Beach Locks Nov. 4-5. The Activism Agenda Is Still a Draft
The sixth Palm Beach CorpGov Forum is set for Nov. 4-5 at two waterfront venues, with a Cucina reception and a preliminary program on activism, sports, and venture capital.
Diesel at $6.31 a gallon just became a freight emergency
On-highway diesel hit an all-time high of $6.31 a gallon on Wednesday. Trucking and rail firms say that price sits outside normal planning and belongs, in their words, in science fiction.
The Fed Just Raised Rates for the First Time Since 2023
The Federal Reserve lifted its benchmark on Wednesday, the first increase since 2023 and the first policy shift under Chair Kevin Warsh. Trump picked him to cut. The committee tightened instead.
$1,700 extra per household, paid from the savings jar
Higher oil from the Iran war and higher Treasury yields are lifting energy and borrowing costs together. The combined estimate is $1,700 per U.S. household, and consumers are covering it by drawing down savings.
European Gas Hit a Weekly Low. Nymex Longs Got Out
October Nymex natural gas settled Wednesday down 0.028, or 0.96%, after European prices printed a one-week low and sparked long liquidation. U.S. futures had opened higher, then faded from a one-week high.
Fear Talk Could Blow Canada's AI Opening, Cohere's CEO Argues
Aidan Gomez of Toronto-based Cohere told the public to reject AI "fearmongering," pointing to an Anthropic researcher's claim of more than a 10 percent chance humanity ends within a decade.
BRICS Wants Local-Currency Trade. The Dollar Still Funds It
BRICS leaders again pushed local-currency settlement to cut dollar use in intra-bloc trade. Funding desks and commodity invoices still have not moved with those communiqués.
Toronto's Summit Opens by Selling a Country, Not a Term Sheet
Leaders at the Canada Investment Summit told global financiers the country is a safe place for capital, with hundreds of major projects ready and a slogan that it is cool to be Canadian.
Nazara inherits Indonesia's books the same day as a firing
Nazara was sworn in hours after Purbaya's dismissal, bringing seven years as deputy finance minister and a 2015-2019 run at the fiscal policy agency. Markets will grade him on credibility, not the résumé.
Ottawa's Mega-Deduction Lets Firms Expense Investment Up Front
The Carney government unveiled a productivity mega-deduction at the Canada Investment Summit, allowing companies to write off the full cost of new machinery, clean energy, and other listed assets.
Ottawa Will Let Private Money Run Canada's Four Biggest Airports
Prime Minister Mark Carney said private investors, including foreign ones, will get long-term concessions to operate Pearson, Vancouver, Montreal Trudeau, and Calgary. Ottawa keeps the land.
August Inflation Lapped Wages. Real Pay Went Backward
Consumer prices rose 3.4% over the year in August while wages increased 3.1%, putting inflation back ahead of pay and cutting real earnings. The average raise did not keep up with living costs.
Households Turned Sharply Colder on Inflation in September
A consumer outlook index fell to 47.8 in September, down 7.5% from August and 13.2% from a year earlier, as inflation views worsened. Households were more afraid of stickers than of pink slips.
110 Canadian Products Now Carry a 50 Percent U.S. Tariff
Just after midnight Tuesday, Washington added 50 percent duties on 110 Canadian products, including certain cheeses, motorboats, ATVs, and furniture, while lifting some other levies.
Bell's Regina AI Campus Jumps From 300 MW to 1.2 Gigawatts
Bell Canada CEO Mirko Bibic told a Toronto investment summit that a planned AI data centre near Regina will quadruple to a 1.2-gigawatt power load, which the company called Saskatchewan's largest private investment.