Bloomberg Canadian dealmaking is extending its boom, as a bidding war between two railway operators contributes to a tripling in mergers and acquisitions volumes. Companies from Canada have been involved in $184 billion of transactions this year, including agreed deals and more preliminary proposals, according to data compiled by Bloomberg. That’s up 198% on the same point in 2020 and ...

Bloomberg The US faces a national security “crisis” due to its lack of semiconductor production, Commerce Secretary Gina Raimondo told senators in a hearing on President Joe Biden’s infrastructure plan. “It is not an exaggeration to say at the moment that we have a crisis in our supply chain,” Raimondo said Tuesday, calling the production deficiencies “a national security risk ...

Bloomberg Italy is aiming to open the country to tourists in mid-May, pledging a range of measures to protect visitors from the coronavirus as it scrambles to rescue a sector devastated by lockdowns and restrictions on movement. As part of the race to get the industry back on its feet, the Rome-based government will introduce so-called vaccine passports earlier than ...

Bloomberg Brazilian policy makers should have been more cautious when cutting interest rates last year and now need to stress they will raise them as needed to bring inflation to target, according to former central bank President Ilan Goldfajn. Rather than committing to a “partial adjustment” of monetary stimulus, the bank needs to show it’s ready to do whatever is ...

Bloomberg Prime Minster Boris Johnson’s government will set a goal to cut UK carbon pollution by 78% by 2035, deepening an already ambitious target as he seeks to spur global momentum in the fight against climate change and boost relations with US President Joe Biden. The government will adopt the target — a cut relative to 1990 levels — in ...

Bloomberg European stocks got a boost from upbeat corporate results that helped allay concern about the rising toll of the virus. The dollar extended a rebound. The Stoxx Europe 600 Index surged 0.7%, with energy and tech firms leading gains in almost every industry sector. S&P 500 contracts erased losses following a retreat in the US benchmark all week. Nasdaq ...

Bloomberg Up four weeks and six of the last seven, US stocks are doing something they haven’t done since March: fall on consecutive days. For the first time in a long time, Wall Street pundits found themselves trying to explain a weak market. Covid-19 cases are surging around the world. Anxiety is swirling that new lockdowns could be afoot. Tension ...

Bloomberg Norway’s sovereign wealth fund, the world’s biggest, returned 4%, or 382 billion kroner ($45.7 billion), in the first quarter after gains in its stock portfolio made up for bond losses. “The rise of the equity market was to a great extent driven by the finance and energy sector,” Deputy Chief Executive Officer Trond Grande said in a statement on ...

ABU DHABI / WAM The central bank of the UAE (CBUAE) has extended integral parts of its Targeted Economic Support Scheme (TESS) until mid-2022. Financial institutions will continue to be eligible to access the collateralised AED50 billion zero-cost liquidity facility up to June 30, 2022, to provide new loans and financing to individuals, small and medium-sized enterprises, and other private ...

DUBAI / WAM Dubai Aerospace Enterprise (DAE) on Tuesday announced that it had entered into an agreement to acquire 15 Boeing 737 Max 8 aircraft. The order is valued at approximately $1.8 billion at list prices. Firoz Tarapore, Chief Executive Officer of DAE, said, “We are delighted to deepen our already strong relationship with Boeing. Including this order, we own ...