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  • Retired pastor, 78, convicted and fined for preaching Bible verse near Northern Ireland hospital |

    A 78-year-old retired pastor was convicted for preaching near a Northern Ireland hospital, raising concerns about free speech and religious freedom.

    https://www.foxnews.com/culture/retired-pastor-78-convicted-fined-preaching-bible-verse-near-northern-ireland-hospital

  • Pembina Pipeline: Q1 Earnings Snapshot

    CALGARY, Alberta (AP) — Pembina Pipeline Corp. (PBA) on Thursday reported first-quarter profit of $363 million.

    On a per-share basis, the Calgary, Alberta-based company said it had profit of 58 cents. Earnings, adjusted for non-recurring costs, came to 59 cents per share.

    The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

    The oil and gas transportation and services company posted revenue of $1.54 billion in the period.

    _____

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

  • Enbridge reports $1.67-billion first-quarter profit

    CALGARY – Enbridge Inc. reported a first-quarter profit attributable to common shareholders of $1.67 billion, down from $2.26 billion a year earlier.

    The pipeline company says the profit amounted to 77 cents per share for the quarter ended March 31, down from $1.04 per share in the same quarter last year.

    The company said the drop was primarily due to non-cash, unrealized changes in derivatives used to manage foreign exchange, interest rate and commodity price risks.

    On an adjusted basis, Enbridge says it earned 98 cents per share in its latest quarter, down from an adjusted profit of $1.03 per share in the first quarter of 2025.

    The company says its secured capital backlog stood at $40 billion as it sanctioned several projects including the Cone project, an onshore wind facility in Texas that will support a data centre for Meta Platforms Inc.

    Enbridge is also going ahead with growth at its Tres Palacios natural gas storage facility and an expansion of its 60 per cent owned Vector Pipeline.

    This report by The Canadian Press was first published May 8, 2026.

  • Barrick Mining beats profit estimates on higher gold prices, approves $3-billion buyback

    Barrick Mining ABX-T +8.21%increase beat estimates for first-quarter profit on Monday, helped by record gold prices, while the miner also approved a US$3-billion share repurchase program ahead of the planned IPO of its North American Barrick assets.

    Gold prices hit record highs during the quarter, averaging US$4,673.5 an ounce, up roughly 63 per cent from a year earlier, as investors sought safe-haven assets amid geopolitical tensions and growing expectations for interest rate cuts.

    Rival Newmont NEM-N +3.93%increase also topped estimates for first-quarter profit last month.

    While prices have eased slightly in recent weeks following an oil-driven inflation scare linked to the U.S.–Israel conflict with Iran, bullion remains well above year-ago levels.

    Barrick’s quarterly average realized price for gold was at US$4,823 per ounce, 66-per-cent higher than a year earlier.

    The company’s all-in sustaining costs, an indicator of cost of production, fell 4 per cent in the three months ended March 31 to US$1,708 per ounce.

    The Canadian miner posted first-quarter net earnings of US$1.6-billion, more than triple of year-ago levels.

    Barrick’s gold production fell 5 per cent during the period to 719,000 ounces.

    But the company said it expects to ramp up output at its Loulo-Gounkoto mine in Mali and Goldrush mine in Nevada, U.S. and improved mine sequencing across its Nevada Gold Mines operations in the next quarter. It also sees increased production at its Kibali site in the Democratic Republic of Congo later in the year.

    Barrick forecast gold output to rise to between 730,000 and 770,000 ounces in the second quarter and increase further in the second half of 2026.

    The miner continued to advance plans for the IPO of North American Barrick, a new entity that will hold some of the company’s flagship assets like Nevada Gold Mines, Pueblo Viejo and the Fourmile project.

    Barrick reported an adjusted first-quarter profit of 98 cents per share, beating average analysts’ expectation of 78 cents per share, according to data compiled by LSEG.

  • Calendar May 11 – May 15

    Monday May 11

    China’s CPI, PPI, aggregate yuan financing, new yuan loans and trade surplus

    (10 a.m. ET) U.S. existing home sales for April. The Street expects an annualized rate increase of 1.8 per cent.

    (10:30 a.m. ET) Bank of Canada’s Market Participants Survey for Q1 is released.

    Earnings include: Constellation Energy Corp.; Chemtrade Logistics Income Fund; Cronos Group Inc.; CT REIT; Exchange Income Corp.; Fox Corp.; K92 Mining Inc.; Minto Apartment REIT; Ovintiv Inc.; Simon Properties Group Inc.; Trican Well Service Ltd.

    Tuesday May 12

    Japan’s household spending

    Germany’s CPI

    (6 a.m. ET) U.S. NFIB Small Business Economic Trends Survey for April.

    (8:30 a.m. ET) U.S. CPI for April. The consensus is an increase of 0.6 per cent from March and up 3.7 per cent year-over-year.

    (2 p.m. ET) U.S. budget balance for April.

    Earnings include: Altius Minerals Corp.; Constellation Software Corp.; Denison Mines Corp.; Finning International Inc.; First Majestic Silver Corp.; Franco-Nevada Corp.; George Weston Ltd.; Parex Resources Inc.; Peyto Exploration & Development Corp.; Power Corp. of Canada; Wesdome Gold Mines Ltd.

    Wednesday May 13

    Japan’s bank lending

    Euro zone’s GDP and industrial production

    (8:30 a.m. ET) U.S. PPI for April. The Street expects a month-over-month increase of 0.5 per cent and year-over-year gain of 4.8 per cent.

    (1:30 a.m. ET) Bank of Canada’s summary of deliberations from April 29 decision is released.

    Earnings include: Alibaba ADR; Birchcliff Energy Ltd.; Bird Construction Inc.; CCL Industries Inc.; Cisco Systems Inc.; Freehold Royalties Ltd.; Hydro One Ltd.; Manulife Financial Corp.; Northland Power Inc.; Stantec Inc.; TerraVest Industries Inc.

    Thursday May 14

    Japan’s current account surplus

    (5 a.m. ET) Canada’s existing home sales and average prices. Estimates are a decline of 2.0 per cent year-over-year and a gain of 0.1 per cent, respectively.

    (5 a.m. ET) Canada’s MLS Home Price Index for April. Estimate is a year-over-year slide of 4.0 per cent.

    (8:30 a.m. ET) Canadian wholesale trade for March. Consensus is a rise of 1.4 per cent from February.

    (8:30 a.m. ET) Canada’s new motor vehicle sales for March. Estimate is a decline of 8.0 per cent year-over-year.

    (8:30 a.m. ET) U.S. initial jobless claims for week of May 9. Estimate is 205,000, up 5,000 from the previous week.

    (8:30 a.m. ET) U.S. retail sales for April. The Street expects a rise of 0.5 per cent from March.

    (8:30 a.m. ET) U.S. import prices of April. Consensus is a month-over-month increase of 1.1 per cent and year-over-year gain of 3.1 per cent.

    (10 a.m. ET) U.S. business inventories for March.

    Also: U.S. President Donald Trump’s summit in Beijing (through Friday)

    Earnings include: Applied Materials Inc.; Aya Gold & Silver Inc.; Boralex Inc.; Brookfield Corp.; Canada Goose Holdings Inc.; Canadian Tire Corp. Ltd.; H&R REIT; Keyera Corp.; Quebecor Inc.

    Friday May 15

    Japan’s machine tool orders

    ECB’s Economic Bulletin is released

    (8:15 a.m. ET) Canadian housing starts for April. Estimate is an annualized rate rise of 1.8 per cent.

    (8:30 a.m. ET) Canada’s manufacturing sales and new orders for March. Consensus estimates are month-over-month increases of 3.5 per cent and 4.0 per cent, respectively.

    (8:30 a.m. ET) Canada’s international securities transactions for March.

    (9:15 a.m. ET) U.S. industrial production and capacity utilization for April.

    Earnings include: Onex Corp.

  • May 8 – ATD.TO share price volatility

    Executive Summary

    • Alimentation Couche-Tard Inc. volatility recently has been driven by:
      • valuation compression
      • global acquisition uncertainty
      • fuel margin swings
      • defensive-sector rotation
    • The stock has shown unusually large daily moves for a traditionally defensive consumer staples company
    • Investors are reassessing growth expectations after years of premium performance
    • Volatility increased despite relatively stable underlying operations
    • Market sensitivity to macro headlines and M&A speculation has risen materially

    Main Causes of ATD.TO Share Price Volatility

    1) Seven & i / 7-Eleven Acquisition Speculation (largest driver)

    The biggest volatility driver has been ongoing market speculation regarding:

    • potential acquisition activity involving Seven & i Holdings Co., Ltd.
    • strategic implications for Couche-Tard

    Markets have repeatedly repriced:

    • probability of a transaction
    • financing requirements
    • regulatory complexity
    • integration risks

    This creates large swings because investors debate:

    “Would a transformational acquisition create value or dilute returns?”

    Key concerns:

    • debt financing size
    • antitrust scrutiny
    • execution risk
    • return on invested capital

    2) Valuation Compression

    ATD had traded at a premium multiple due to:

    • strong execution history
    • global growth
    • fuel + convenience resilience
    • stable cash flow

    Recently investors began compressing the valuation multiple as:

    • interest rates stayed elevated
    • growth expectations normalized
    • defensive stocks rotated unevenly

    This caused:

    • larger swings than fundamentals alone justify

    3) Fuel Margin Volatility

    ATD earnings are highly sensitive to:

    • fuel margins
    • gasoline demand
    • crude oil price swings

    Recent oil volatility from Middle East tensions created uncertainty around:

    • retail fuel profitability
    • consumer driving patterns
    • convenience-store traffic

    Importantly:

    • higher oil prices are not always positive for ATD
    • margin spread matters more than headline crude prices

    4) Defensive Rotation Became Inconsistent

    Consumer staples initially benefited from:

    • defensive positioning
    • economic uncertainty

    But recently markets rotated aggressively between:

    • energy
    • tech
    • defensives
    • cyclicals

    ATD became caught between:

    • “defensive staple”
      and
    • “growth acquisition story”

    That increases volatility.

    5) Investor Expectations Were Extremely High

    This is critical.

    ATD has been one of the TSX’s best long-term compounders:

    • strong ROIC
    • strong acquisitions
    • disciplined management
    • resilient earnings

    When expectations become extremely high:

    • even good results can trigger selling
    • investors quickly lock in profits

    This creates:

    “high-quality stock volatility”

    rather than:

    “business distress volatility.”

    Important Context (Why volatility does NOT equal deterioration)

    Operationally, ATD still retains:

    • strong cash generation
    • defensive convenience demand
    • global diversification
    • disciplined cost management

    Core business fundamentals remain relatively stable compared with:

    • discretionary retail
    • industrial cyclicals
    • highly leveraged companies

    So current volatility appears more related to:

    • market positioning
    • valuation debate
    • acquisition uncertainty

    than:

    • operational collapse

    Data & Evidence

    DriverImpact on Volatility
    Seven & i speculationVery High
    Fuel margin uncertaintyHigh
    Oil price swingsModerate/High
    Valuation compressionHigh
    Defensive sector rotationModerate
    Core operationsStill stable

    Valuation Logic

    Recent ATD volatility is mainly:

    • expectations repricing
    • M&A uncertainty
    • multiple compression

    Not mainly:

    • collapsing earnings
    • liquidity stress
    • consumer demand collapse

    Risks Going Forward

    RiskPotential Impact
    Large acquisition execution riskMajor volatility
    Fuel margin compressionEarnings pressure
    Consumer slowdownTraffic softness
    Rising ratesLower valuation multiple
    Regulatory challengesM&A uncertainty

    Bull / Base / Bear Scenarios

    Bull

    • Acquisition uncertainty clears positively
    • Fuel margins remain healthy
    • Stock rerates higher

    Base

    • Sideways volatile trading
    • Stable operational execution

    Bear

    • Large acquisition viewed negatively
    • Fuel margins weaken
    • Multiple compresses further

    What Would Reduce Volatility

    • Clear strategic guidance
    • Resolution of acquisition speculation
    • Stable fuel margins
    • Consistent earnings growth without surprises

    Actionable Takeaways

    • Current volatility in Alimentation Couche-Tard Inc. is primarily:
      • valuation-driven
      • acquisition-driven
      • sentiment-driven
    • The market is debating: whether ATD remains a premium compounder
      or
      becomes a slower-growth defensive retailer
    • Core business fundamentals still appear comparatively resilient relative to most TSX retailers.

  • May 8 – TSX Consumer Staples Capped Index ($TTCS)

    Executive Summary

    • The S&P/TSX Capped Consumer Staples Index materially outperformed the broader TSX during recent volatility
    • Staples benefited from:
      • defensive rotation
      • stable cash-flow expectations
      • consumer trade-down behaviour
    • Key leaders included:
      • Loblaw Companies Limited
      • Empire Company Limited
      • Metro Inc.
    • The sector acted as a “defensive shelter” while discretionary and industrial names weakened
    • Performance has been steady rather than explosive — classic low-volatility leadership

    TSX Consumer Staples Capped Index (TTCS)

    MetricApprox. Recent Trend
    Sector BiasDefensive / Positive
    VolatilityLower than TSX
    Relative PerformanceOutperformed broader TSX during risk-off days
    Main DriversGrocery stability + defensive rotation

    S&P/TSX Capped Consumer Staples Index

    Main Components of TTCS

    CompanyWeighting Influence
    Loblaw Companies LimitedVery High
    Alimentation Couche-Tard Inc.Very High
    Metro Inc.High
    Empire Company LimitedModerate
    George Weston LimitedModerate

    Why TTCS Has Been Relatively Strong

    1) Defensive Rotation (largest driver)

    Investors rotated into staples because:

    • economic growth uncertainty increased
    • oil prices rose sharply
    • geopolitical risk increased

    Staples historically outperform when markets become defensive because:

    • food demand is stable
    • revenues are predictable
    • margins are less cyclical

    2) Canadian Consumer Trade-Down

    Higher living costs caused consumers to:

    • spend less on discretionary goods
    • focus more on essentials
    • shop discount/value channels

    This benefited:

    • grocery chains
    • discount food retail
    • convenience retail

    Especially:

    • Loblaw Companies Limited
    • Metro Inc.

    3) Stable Earnings Visibility

    Compared with cyclical sectors:

    • staples earnings are more predictable

    Investors rewarded:

    • strong free cash flow
    • stable dividends
    • pricing power

    This became important as:

    • TSX discretionary stocks weakened
    • industrial earnings became less certain

    4) Oil Prices Helped Convenience Retail

    Higher fuel prices can actually help:

    • fuel-margin operators
    • convenience chains

    That supported:

    • Alimentation Couche-Tard Inc.

    Although ATD has recently shown volatility tied to valuation and acquisition concerns, the defensive nature of the business remains supportive.

    Relative Performance vs Other TSX Sectors

    SectorRecent Relative Strength
    EnergyStrongest
    Consumer Staples (TTCS)Strong
    MaterialsModerate
    FinancialsMixed
    IndustrialsWeak/Mixed
    Consumer Discretionary (TTCD)Weaker
    TechnologyVolatile

    Key Characteristics of TTCS

    FeatureInterpretation
    Lower betaLess volatile
    Dividend supportDefensive yield
    Stable demandRecession-resistant
    Slower growthLower upside in bull markets
    Strong pricing powerHelps offset inflation

    Valuation Logic

    Recent strength in TTCS was driven mainly by:

    • defensive positioning
    • earnings stability
    • cash-flow visibility

    Not driven by:

    • rapid revenue acceleration
    • speculative growth
    • AI/technology enthusiasm

    Risks to TTCS

    RiskPotential Impact
    Consumer weakness deepensMargin pressure
    Food inflation slows sharplyRevenue normalization
    Interest rates remain highValuation pressure
    Rotation back into cyclicalsRelative underperformance
    Regulatory/grocery pricing scrutinyMargin concerns

    Bull / Base / Bear Outlook

    Bull

    • Economic uncertainty persists
    • Staples continue outperforming
    • Investors favor defensives

    Base

    • Sector remains stable but underwhelming
    • Modest dividend-driven returns

    Bear

    • Strong economic rebound
    • Capital rotates into cyclicals/tech
    • Staples lag materially

    What Would Disprove the Defensive Thesis

    • Staples underperform during market volatility
    • Grocery margins compress materially
    • Consumers shift back aggressively toward discretionary spending
    • Economic growth accelerates sharply

    Actionable Takeaways

    • TTCS is behaving exactly as expected in a:
      • higher-volatility
      • inflation-sensitive
      • uncertain macro environment
    • Leadership is being driven by:
      • earnings stability
      • predictable cash flow
      • defensive investor positioning
    • Watch:
      • grocery inflation trends
      • consumer spending patterns
      • fuel margins
      • Bank of Canada policy direction

  • Canadian Tire Corporation Limited (May 8)

    • Canadian Tire Corporation Limited declined over the past ~10 trading days primarily due to:
      • concerns about weakening Canadian consumer spending
      • margin pressure risk
      • broader retail-sector caution
      • profit-taking after a strong earlier rally
    • The decline appears to be more of a valuation reset / sentiment compression than a fundamental collapse
    • Rising oil prices and inflation concerns increased fears of weaker discretionary spending
    • No major company-specific negative shock was announced during the period
    • Investors are now waiting for May 14 Q1 earnings for confirmation of consumer trends

    Main Reasons for CTC.A.TO Share Price Decline

    1) Consumer Spending Concerns (largest driver)

    Markets became increasingly concerned that:

    • higher gasoline prices
    • inflation pressure
    • elevated borrowing costs

    could weaken discretionary retail spending in Canada.

    This concern intensified after weaker retail commentary from North American retailers including Loblaw and Dollarama.

    Key issue:

    Canadian Tire is heavily exposed to discretionary consumer categories:

    • sporting goods
    • automotive
    • home products
    • seasonal spending

    When investors fear consumer weakness, retailers like Canadian Tire usually derate quickly.

    2) Oil Price Spike Hurt Consumer Sentiment

    Oil prices surged above US$100 during the Iran-related geopolitical escalation:

    • WTI briefly moved above US$106/bbl

    Market interpretation:

    • higher fuel costs reduce disposable income
    • discretionary retail spending weakens
    • Canadian consumer becomes more defensive

    This particularly pressured:

    • consumer discretionary stocks
    • retail cyclicals
    • apparel/home goods names

    3) Sector Rotation Out of Consumer Discretionary

    During the selloff:

    • capital rotated into:
      • energy
      • gold
      • defensive dividend sectors

    while consumer discretionary weakened.

    Reuters specifically noted:

    • TSX Consumer Discretionary sector fell 2.1% on May 4.

    That sector weakness affected:

    • Canadian Tire Corporation Limited
    • Aritzia Inc.
    • broader retail names

    4) Profit-Taking After Earlier Rally

    CTC.A had rallied materially earlier in 2026:

    • moved toward 52-week highs in April

    After strong gains, investors likely:

    • locked in profits
    • reduced cyclical exposure
    • rotated toward energy beneficiaries

    This type of decline is common after:

    • rapid multiple expansion
    • seasonal retail optimism fades

    5) Earnings Uncertainty Ahead of May 14

    Canadian Tire is scheduled to report Q1 earnings on May 14.

    Markets are cautious because investors want clarity on:

    • same-store sales
    • consumer spending trends
    • inventory levels
    • margin sustainability
    • loyalty program performance

    Retail stocks often weaken before earnings when:

    • macro uncertainty rises
    • consumer outlook deteriorates

    Important Context (Why decline was limited)

    Despite weakness:

    • no major balance-sheet issue emerged
    • no dividend concern surfaced
    • no major earnings warning was issued

    In fact, Canadian Tire still has:

    • strong operating cash flow
    • large real estate/assets base
    • strong Canadian brand positioning

    So the market reaction appears more like:

    “consumer caution + valuation compression”
    rather than:
    “structural business deterioration.”

    Data & Evidence

    FactorImpact on Stock
    Higher oil pricesNegative
    Consumer spending fearsNegative
    Retail-sector cautionNegative
    Profit-takingModerate negative
    Upcoming earnings uncertaintyNegative
    Balance sheet / liquidityStable

    Valuation Logic

    The decline was mainly driven by:

    • lower forward consumer expectations
    • multiple compression
    • cyclical de-risking

    Not driven by:

    • insolvency concerns
    • collapsing sales
    • dividend risk
    • major operational failure

    Risks Going Forward

    RiskPotential Impact
    Weak Q1 earningsFurther downside
    Lower same-store salesRetail derating
    Higher oil pricesConsumer spending pressure
    Rising credit lossesWeak consumer demand
    Inventory buildupMargin pressure

    Bull / Base / Bear Scenarios

    Bull

    • Q1 earnings beat expectations
    • Consumer spending stabilizes
    • Shares recover toward prior highs

    Base

    • Mixed retail environment
    • Sideways consolidation

    Bear

    • Consumer slowdown accelerates
    • Margins weaken
    • Stock continues derating

    What Would Disprove the Bearish Thesis

    • Strong same-store sales growth
    • Margin resilience despite inflation
    • Strong loyalty/customer traffic trends
    • Better-than-feared discretionary spending

    Actionable Takeaways

    • The recent weakness in Canadian Tire Corporation Limited is primarily:
      • macro-driven
      • consumer-sentiment driven
      • valuation-driven
    • Markets are currently pricing in:
      • softer Canadian consumer demand
      • earnings caution
    • May 14 earnings will likely determine the next major move.

  • Linamar reports $221.4M in first quarter net earnings, up from $177.7M last year

    Linamar Corp. says its net earnings reached $221.4 million during the first quarter, up from $177.7 million the previous year.

    That amounted to diluted net earnings per share of $3.71, rising from $2.94 during the prior year quarter. 

    The Guelph, Ont.-based auto parts manufacturer says its sales totalled $2.94 billion during the three months ended March 31, rising year-over-year from $2.53 billion. 

    The company says its products continue to be compliant with the Canada-U.S.-Mexico Agreement on trade, meaning most of them are tariff-free into the U.S.

    However, Linamar says new tariffs that took effect in April will have more of an effect on its industrial segment but are not affecting its overall business outlook.   

    Last month, Linamar announced it was maintaining its full-year guidance for 2026 following recent changes to the U.S. tariff regime that imposed a 25 per cent levy on the full value of products made substantially of steel, aluminum or copper.  

    This report by The Canadian Press was first published May 6, 2026.