Mathieu Dion

Couche-Tard Couldn’t Outlast Seven & i as Its Own Headwinds Grew Alimentation Couche-Tard Inc. ended its pursuit of Japan’s Seven & i Holdings Co., with the Canadian retailer’s ambitions giving way to mounting pressures in its own business.

Couche-Tard’s pursuit of Seven & i has come to an end. Now what?

Shares of Couche-Tard soared as much as 18.5% in early trading Thursday, the most since 2002, before paring those gains. They were up 8% to C$74.48 as of 11:34 a.m. in Toronto.

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

Costs related to tariffs soared for Rio Tinto and Alcoa’s Canadian aluminum exports to the US in the first half of the year.

Rio Tinto: US$300 million

Alcoa: US$135 million

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

Canada Weighs Limiting Lumber Exports to Solve US Trade Dispute, BC Premier Says Canadian officials are open to considering limits on how much softwood lumber can be exported to the US to try to resolve some of the trade friction between the countries, according to the leader of B...

Le Québec accepterait-il des quotas sur le bois d'oeuvre exporté aux États-Unis?

Canadian officials are open to considering limits on softwood lumber exports to the US to resolve trade friction, according to BC Premier David Eby, reports @twseal.bsky.social.

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

Billionaire Peladeau Still Wants to Take Over Travel Company Transat Quebec billionaire Pierre Karl Peladeau says he’s not giving up his long pursuit of Transat AT Inc., arguing the travel company’s latest balance-sheet maneuvers still leave it with too much debt.

Quebec billionaire Pierre Karl Peladeau says he’s not giving up his long pursuit of Air Transat's parent company, arguing the travel company’s latest balance-sheet maneuvers still leave it with too much debt.

“It’s not over until it’s over.”

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

*TRUMP SET TO KEEP TARIFF EXEMPTION FOR USMCA GOODS: US OFFICIAL

*TRUMP TO IMPOSE 35% TARIFF ON GOODS FROM CANADA

Rio Tinto-Backed Aluminum Firm to Invest $1.1 Billion in Canada Project Aluminerie Alouette, an aluminum maker that’s partially owned by Rio Tinto Plc, is planning to commit as much as C$1.5 billion ($1.1 billion) to modernizing its facilities in northern Quebec, accordin...

Aluminerie Alouette, an aluminum maker that’s partially owned by Rio Tinto, is planning to commit as much as C$1.5 billion in Quebec, despite the ongoing trade war with the US.

Scoop from earlier this week:
www.bloomberg.com/news/article...

Canada’s Finance Minister Sees Path to Avoid Baseline US Tariff Canada’s finance minister said the country can negotiate a better trade deal with the Trump administration than other nations have received, pushing back on the idea that it may have to settle for a n...

I sat down with Canada's finance minister Francois-Philippe Champagne. We talked about trade and the budget.

He said the country can negotiate a better trade deal than other nations, pushing back on the idea that it may have to settle for a new baseline tariff.

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

Carney Gives Trump a Small Trade Victory in Hunt for Larger Deal Canadian Prime Minister Mark Carney handed US President Donald Trump a win in the hope of making bigger gains in trade negotiations.

Getting rid of the worst effects of tariffs is the real aim, said Jean Charest, who’s now a member of the council on Canada-US relations. “It’s doable, and there may be headline tariffs that are not applicable because there are quotas,” he said.

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

U.S. wine export markets have contracted substantially. In April, the year-over-year export value dropped by 41.4%, worsening the 28% decline recorded in March. The three main export destinations for U.S. wine—Canada (-93%), the UK (-29%), and China (-70%)—all reported significant decreases.

YouTube video by Bloomberg Originals Why There’s a Billion-Dollar Battle to Own 7-Eleven

Why Couche-Tard is willing to pay as much as US$50 billion to own 7-Eleven?

Great video produced by Bloomberg Originals!

www.youtube.com/watch?v=dANV...

Canadian Aluminum Trader Blames Its Bankruptcy on Trade War A Canadian aluminum trader that had been struggling to restructure its debt has filed bankruptcy in the US and Canada, saying the American trade war helped push the company over the edge.

Montreal's aluminum trader Sinobec filed for creditor protection.

It had been struggling to restructure, then the American trade war helped push the company over the edge.

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

Northvolt to Stop Production at End of June Without Buyer Bankrupt battery maker Northvolt AB will stop production at its last remaining factory in northern Sweden at the end of June if it fails to find a buyer before then, a person familiar with the matter ...

Bankrupt battery maker Northvolt AB will stop production at its last remaining factory in northern Sweden at the end of June if it fails to find a buyer before then, a person familiar with the matter said.

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

The Bank of Canada warned that a severe and long-lasting global trade war may cause more mortgage borrowers to fall behind on their payments — even beyond levels reached in the global financial crisis.

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

*SEVEN & I SHARES GAIN AS MUCH AS 3.5%; SIGNS NDA W/ COUCHE-TARD

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Quebec Finance Minister Says Trade Dispute Risks Recession Quebec’s minister of finance said he predicts an economic slowdown for Canada in the second quarter and recession later in the year if the country can’t come to an agreement that ends its trade disput...

Quebec’s finance minister Eric Girard told Bloomberg he predicts an economic slowdown for Canada in the second quarter and recession later in the year if the countries can’t come to an agreement.

“Why don’t we resolve all this?”

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

Finance minister Eric Girard told Bloomberg News that, despite Quebec’s credit downgrade, there is still important demand for the province’s bond issues.

“We’ve seen no movement in spreads. Zero basis point.”

The Canadian dollar swings as the election results come in.

Economists at one of Canada’s biggest lenders are raising doubts about the fiscal plans offered by the leading parties in the country’s election, @erikhertzberg.bsky.social and Mario Baker Ramirez report.

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

3/ Plusieurs facteurs influencent les investisseurs.

La hausse surprise des salaires aux employés du gouvernement et le plus faible dividende d'Hydro-Québec ont été des facteurs importants.

La guerre tarifaire menace maintenant l'ensemble du profile de crédit des provinces.

2/ Le marché obligataire avait déjà pris en considération les plans budgétaires 2024-2025 et 2025-2026 et pris des positions en conséquence.

S&P, qui a abaissé la cote du Québec de AA- à A+, émet une analyse déjà faite par le marché, et il y a plusieurs autres agences.

1/ La décote du Québec n'a pas d'effet sur les coûts d'emprunt dans l'immédiat.

Aujourd'hui, des obligations venant à échéance en 2034 ont été vendues à un prix moins élevé que la semaine dernière et des autres semaines avant.

Données compilées par Bloomberg :

1:33 pm:
*GOLDMAN SACHS SAYS 65% CHANCE OF US RECESSION IN NEXT 12 MONTHS

2:38 PM:
*GOLDMAN SACHS RESCINDS RECESSION CALL AFTER TRUMP TARIFF PAUSE

US Hits Canada Lumber With 34% Duties Even Before Trump Tariffs The US is poised to more than double duties on Canadian softwood lumber to 34.45%, putting more pressure on US materials costs even before President Donald Trump places any new tariffs on the sector.

US hits Canada lumber with 34% duties even before Trump tariffs.

“At today’s prices, it’s an unequivocal dead end,” said Frederic Verreault of Les Chantiers de Chibougamau, a major Quebec wood processor selling roughly half of its products to the US.

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

“I know it’s an election campaign now, it might look good to look tough, but the reality, the structure of our economy is not set for retaliation against US tariffs, unfortunately.”

Bank of Canada Seen Making Deeper Rate Cuts Amid Stock Rout, Job Losses The Bank of Canada is expected to cut interest rates more deeply as US President Donald Trump’s tariff barrage sends world markets into a tailspin and data show the Canadian job market already taking ...

Retaliation, a good idea?

“If we start slapping tariffs on the US, which will not be optimal for the Canadian economy, then you’ll limit the ability of the central bank to cut rates,” said Stefane Marion, chief economist with National Bank.

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

(Bloomberg) -- US stock futures sank in early trading on Friday morning after China announcedextra tariffs on US goods, extending Thursday’s selloff.

Futures contracts on the S&P 500 sank 2.5%, and Nasdaq 100 futures slumped 2.9%.

“It’s going very well.”
- Donald Trump