Category: Uncategorized

• President Donald Trump said he had terminated all U.S. trade negotiations with Canada.
• Trump said he was doing so because of an allegedly “fake” advertisement that Canada was airing that features former President Ronald Reagan speaking negatively about tariffs.
• Ontario Premier Doug Ford, whose province launched the ad campaign, wrote after Trump’s announcement, “President Ronald Reagan knew that we are stronger together.”
• Ford recently said Ontario would spend $75 million on ads to run in the United States featuring Reagan criticizing tariffs.

https://www.cnbc.com/2025/10/24/trump-canada-trade-reagan.html

• The consumer price index showed a 0.3% increase on the month, putting the annual inflation rate at 3%, both lower than expected.
• Excluding food and energy, core CPI showed a 0.2% monthly gain and an annual rate also at 3%, also less than forecasts.
• The BLS released the data specifically because the Social Security Administration uses it as a benchmark for cost-of living adjustments in benefit checks. Otherwise, the federal government has suspended all data compilation.

https://www.cnbc.com/2025/10/24/cpi-inflation-september-2025.html

Newmont NGT-T -1.06%decrease, the world’s largest gold miner, beat Wall Street estimates for third-quarter profit on Thursday as record-high gold prices helped offset a drop in its production levels.

Gold prices have repeatedly set new records this year as investors turned to the safe-haven asset amid the uncertainty triggered by U.S. President Donald Trump’s tariff policies and escalating geopolitical tensions.

Newmont said it realized an average gold price of US$3,539 per ounce in the three months ended Sept. 30, up from $2,518 a year earlier.

The price rally helped cushion a 15 per cent decline in gold output to 1.42 million ounces during the quarter.

The company’s production was impacted by lower ore grades and planned maintenance at its Penasquito mine in Mexico and Lihir mine in Papua New Guinea, along with the completion of mining at the Subika open pit in Ahafo South in July.

Shares of the company were down 2.5 per cent in extended trading following the results.

The production decline followed a broader restructuring effort after the company’s US$17.14-billion acquisition of Australian miner Newcrest, with Newmont selling non-core assets to reduce debt.

All-in sustaining costs for gold fell about 2.8 per cent to US$1,566 per ounce in the third quarter, reflecting stronger pricing and operational efficiencies.

Newmont expects capital spending to rise in 2026 as it advances its key projects, including tailings work at Cadia and a potential expansion at Red Chris.

The company last month appointed Natascha Viljoen, its first female CEO, to succeed Tom Palmer.

The gold miner posted quarterly profit of US$1.71 per share on an adjusted basis, beating analysts’ average estimate of $1.43, according to data compiled by LSEG.

 Waste Connections Inc. (WCN) on Tuesday reported third-quarter profit of $286.3 million.

On a per-share basis, the Ontario, Ontario-based company said it had net income of $1.11. Earnings, adjusted for one-time gains and costs, came to $1.44 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

The solid waste services provider posted revenue of $2.46 billion in the period, also beating Street forecasts. Twelve analysts surveyed by Zacks expected $2.45 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WCN at https://www.zacks.com/ap/WCN

Precision Drilling Corp. (PDS) on Wednesday reported a loss of $4.9 million in its third quarter.

The Calgary, Alberta-based company said it had a loss of 37 cents per share.

The oilfield services company posted revenue of $335.7 million in the period.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDS at https://www.zacks.com/ap/PDS

West Fraser Timber Co. Ltd. reported a net loss of US$204 million in its third quarter results compared with a net loss of US$83 million during the same period a year earlier.   West Fraser says this amounted to a loss of US$2.63 per diluted share compared to a loss of US$1.03 per diluted share a year earlier.  The Vancouver-based forestry company, which keeps its books in U.S. dollars, says sales during the third quarter came in at US$1.3 billion compared to US$1.43 billion a year earlier.  On an adjusted basis before deductions, the company says it reported a loss of US$144 million, down from US$62 million during the same period last year.   West Fraser CEO Sean McLaren says the company faces a challenging backdrop with supply and demand imbalances for wood building products due to lower housing affordability, coupled with new tariffs on Canadian softwood lumber.  U.S. President Donald Trump used Section 232 of the Trade Expansion Act of 1962 to impose 10 per cent tariffs on softwood timber and lumber beginning Oct. 14. This report by The Canadian Press was first published Oct. 22, 2025. Companies in this story: (TSX:WFG)

FirstService Corp. (FSV) on Thursday reported third-quarter profit of $57.2 million.

On a per-share basis, the Toronto-based company said it had net income of $1.24. Earnings, adjusted for one-time gains and costs, were $1.76 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The property services provider posted revenue of $1.45 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.46 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FSV at https://www.zacks.com/ap/FSV

Oil prices rose nearly 5 per cent on Thursday after the U.S. imposed sanctions on major Russian suppliers Rosneft and Lukoil over the Ukraine war, extending gains from the previous session.

Brent crude futures were up US$2.98, or 4.8 per cent, at US$65.57 a barrel, while U.S. West Texas Intermediate crude futures were up US$3.01, or 5.2 per cent, at US$61.51.

The U.S. sanctions mean refineries in China and India, major buyers of Russian oil, will need to seek alternative suppliers to avoid exclusion from the Western banking system, according to Saxo Bank analyst Ole Hansen.

The U.S. said it was prepared to take further action as it called on Moscow to agree immediately to a ceasefire in Ukraine.

Britain sanctioned Rosneft and Lukoil last week. EU countries have approved a 19th package of sanctions against Russia that includes a ban on imports of Russian LNG.

Prompt Brent crude futures switched to backwardation as the first-month Brent contract traded at nearly US$2 a barrel above the contract for delivery in six months.

Right after the U.S. sanctions were unveiled, Brent and WTI futures rose by more than US$2 a barrel, with support from a surprise decline in US stockpiles.

The impact of sanctions on oil markets will depend on how India reacts and if Russia finds alternative buyers, said UBS analyst Giovanni Staunovo.

India became the largest buyer of discounted seaborne Russian crude in the aftermath of Moscow’s war in Ukraine.

Indian refiners are likely to sharply curtail imports of Russian oil due to the new sanctions, industry sources said on Thursday.

Privately-owned Reliance Industries, the top Indian buyer of Russian crude, plans to reduce or halt such imports completely, according to two sources familiar with the matter.

But there remains some skepticism in the market about whether the U.S. sanctions would result in a fundamental shift in supply and demand.

“So far, almost all the sanctions against Russia for the past 3-1/2 years have mostly failed to dent either the volumes produced by the country or the oil revenues,” said Rystad Energy analyst Claudio Galimberti.

Oversupply concerns following OPEC+ production increases capped crude’s gains on Thursday. UBS expects Brent to remain between US$60-US$70.

On the demand side, U.S. crude oil, gasoline and distillate inventories fell last week as refining activity and demand strengthened, the Energy Information Administration said on Wednesday. 

Rogers RCI-B-T +3.50%increase reported modest revenue growth as it added 111,000 wireless customers in the third quarter, but adjusted earnings dropped in the wake of the company’s move to increase its stake in Maple Leaf Sports and Entertainment.

Total revenue for the third quarter was $5.35-billion, up 4 per cent from a year earlier, meeting analyst consensus estimates. Wireless revenue increased 2 per cent to $2.66-billion, cable revenue was up 1 per cent to $1.98-billion and media revenue jumped 26 per cent to $753-million.

Rogers completed its acquisition of rival BCE Inc.’s 37.5-per-cent stake in MLSE in July for $4.7-billion.

The telecom said the increase in its media division was the result of its larger stake in MLSE and increased Toronto Blue Jays revenue.

The company said its adjusted net income fell by 5 per cent in the third quarter to $726-million, or $1.37 per share, as the company’s earnings before interest, taxes, depreciation and amortization (EBITDA) decreased 1 per cent “primarily as a result of the seasonal results for MLSE, as both the Toronto Maple Leafs and the Toronto Raptors are in their offseasons in the third quarter.”

Rogers signals it may wait to acquire final MLSE stake before seeking outside investors

Rogers reported net income of $5.8-billion, or $10.62 per diluted share. The company said the increase in its net income was primarily the “result of a $5 billion non-cash gain to recognize our existing interest in MLSE at fair value, which was required as a result of the MLSE transaction.”

The company said it now expects to spend $3.7-billion in 2025, compared with its estimate of $3.8-billion from July.

Rogers added 62,000 postpaid wireless subscribers in the third quarter, beating analyst consensus expectations of 59,000, but still down 39 per cent from last year.

The company added 49,000 prepaid phone subscribers, beating the consensus of 45,000, but down 44 per cent from last year.

The telecom cited slowing population growth and a less active market, owing to the federal government’s changed immigration policies, as reasons for the decreases in subscriber adds.