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BREAKING:

STOCKS EXTEND LOSSES AS JITTERS REMAIN; S&P 500 HITS NEW LOW

Morgan Stanley expects acceleration in downward earnings revisions ahead to push stocks lower

Crisis Management

Yahoo Finance Canada presents CRISIS MANAGEMENT, a livestream show on the Canadian economy that builds a crisis playbook during COVID-19 times and beyond.

Latest Stories

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    These top TSX dividend stocks look oversold. The post 2 Oversold TSX Stocks for TFSA and RRSP Investors to Buy Now appeared first on The Motley Fool Canada.

  • Monte dei Paschi capital talks enter final stretch after Italy vote

    MILAN (Reuters) -Monte dei Paschi di Siena faces a tight schedule to secure cornerstone shareholders for a share sale of up to 2.5 billion euros ($2.4 billion) after an election pause during which investors were non-committal ended on Monday. After leading the conservative alliance to victory in Sunday's vote, Giorgia Meloni looks set to become Italy's first woman prime minister at the head of its most right-wing government since World War Two. Maurizio Leo, a senior economic adviser to the Brothers of Italy leader Meloni, said MPS was in good hands.

  • How to Get Investing Starting From Complete Scratch

    If you're new to investing, it can be completely overwhelming. So, let me help you start creating cash flow. The post How to Get Investing Starting From Complete Scratch appeared first on The Motley Fool Canada.

  • Util-Assist Partners with SEW to Deliver Utility Customer and Mobile Workforce Experience (CX & WX) Platforms, Powered by AI/ML

    Util-Assist and SEW announced today that the companies have signed an agreement for Util-Assist to deliver system integration services to clients implementing SEW's Digital Customer Experience (CX) Platform - Smart Customer Mobile® (SCM®), Digital Workforce Experience (WX) Platform-Smart Mobile Workforce (SMW®), and Smart AI/ML Analytics Platform - Smart-iQ (SiQ).

  • 3 TSX Stocks I Own and Will Buy More of If the Stock Market Crashes

    These TSX stocks may be down, but don't count them out. In fact, buy up as much as you can while they're still cheap! The post 3 TSX Stocks I Own and Will Buy More of If the Stock Market Crashes appeared first on The Motley Fool Canada.

  • Market chaos forces UK lenders to pull mortgage products

    LONDON (Reuters) -Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown up by finance minister Kwasi Kwarteng's mini-budget last week. Brokers said the moves were likely just the start of a big shift in Britain's mortgage market. The country's largest mortgage lender Halifax said it was withdrawing its fee-paying mortgage products - where borrowers could pay an arrangement fee in exchange for a lower interest rate - and moving to a full fee-free range.

  • 2 Top Commodity Stocks to Hedge Your Portfolio Against Inflation

    Consider investing in these two commodity-backed stocks to hedge your portfolio against the inflationary environment. The post 2 Top Commodity Stocks to Hedge Your Portfolio Against Inflation appeared first on The Motley Fool Canada.

  • Rio Tinto says employee sexually assaulted in Western Australian mine

    Rio Tinto Ltd on Monday said an employee at one of its mines in Western Australia state was sexually assaulted and that police removed the alleged perpetrator from the site. The incident comes three months after Australia's sex discrimination commissioner called for urgent changes in the country's mining industry after a state government report found that sexual harassment and assault were rife in the sector. "Rio Tinto continues to work closely with Department of Mines, Industry Regulation and Safety in relation to its investigation," a spokesperson said in an emailed statement.

  • Fed's Collins says inflation fight to cost jobs, recession not inevitable

    (Reuters) -The Federal Reserve's need to bring down unacceptably high inflation will cause the jobless rate to rise but a recession is not inevitable, and there are signs price pressures may have already peaked, Boston Fed President Susan Collins said in her maiden public speech on Monday. "I do anticipate that accomplishing price stability will require slower employment growth and a somewhat higher unemployment rate," Collins told a local chamber of commerce in Boston, even as she made clear she fully supports the U.S. central bank's more aggressive push to quash price pressures running at 40-year highs.

  • U.S. dollar strength creating 'untenable' situation that risks financial crisis -Morgan Stanley

    The recent rally in the U.S. dollar is creating an “untenable situation" for riskier assets that could end in a financial or economic crisis, strategists at Morgan Stanley warned in a note Monday. The wild swings in currencies are another pressure on the global economy and corporate earnings, which are expected to fall as the Federal Reserve’s aggressive interest rate hikes over the summer begin to weigh on spending. “The ultimate lows for stocks, and highs for yields, will likely be determined by the growth trajectory in earnings and the economy rather than inflation or the Fed,” analysts including Michael Wilson at Morgan Stanley wrote.

  • Stocks gain ground a day after Dow entered a bear market

    NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market to join other major U.S. indexes. The S&P 500 rose 1% as of 10:22 a.m. Eastern. The Dow rose 219 points, or 0.8%, to 29,498 and the Nasdaq rose 1.4%. Energy stocks were among the biggest gainers as U.S. crude oil prices rose 2.8%. Exxon Mobil rose 3.1%. Technology stocks and retailers also helped lead the gains. Apple rose 1.7% and Home Depot

  • Marketmind: Asia's FX doom loops

    Expect an ugly open to Asian markets on Monday as investors try to shield themselves from the fallout from the widespread selling that battered stocks, bonds, and currencies on Friday. The historic rout in UK bonds and sterling took center stage on Friday but at the heart of the gloom shrouding world markets is the Fed's drive to raise rates far higher than most people had bargained for, and the effect that is having on global rates. The dollar's 'wrecking ball' status is being painfully felt in Asia, where several currencies have sunk to multi-year or record lows, and central banks have intervened to try and stop the rot.

  • Passive Income: 3 Top TSX Stocks That Pay Dividends Monthly

    Given their high yields, attractive valuations, and stable cash flows, these three TSX stocks are excellent buys for income-seeking investors. The post Passive Income: 3 Top TSX Stocks That Pay Dividends Monthly appeared first on The Motley Fool Canada.

  • Exclusive-Trump nominee Claver-Carone voted out at IDB, threatens legal action

    MEXICO CITY/WASHINGTON (Reuters) -The governors of the Inter-American Development Bank (IDB) on Monday voted to fire Mauricio Claver-Carone, the bank said, after an investigation showed that the only American president in the bank’s 62-year history had an intimate relationship with a subordinate. The bank's 14 directors had voted unanimously on Thursday to recommend the board remove Claver-Carone after an independent ethics investigation found evidence he had engaged in a prior intimate relationship with a senior staffer and it may have continued while they were at the bank. The bank in a statement said Claver-Carone would leave the bank effective immediately, and his deputy, Reina Irene Mejia, already the highest-ranking female leader in the bank's history, would become acting president until a new leader was elected.

  • Exclusive-China prepares to tweak yuan fixing process to slow its fall -source

    Chinese monetary authorities are asking local banks to revive a yuan fixing tool it abandoned two years ago as they seek to steer and defend the rapidly weakening currency, a source said on Tuesday. The source, who is familiar with the yuan rate-setting process, said monetary authorities were prodding banks to include the so-called counter-cyclical factor in their daily fixings for the tightly-managed exchange rate. It's an adjustment that 14 banks make to their yuan quotes that the People's Bank of China (PBOC) uses to set the daily reference rate, effectively introducing a bias to the fixing rate.

  • TSX hits 18-month low as energy shares slide

    Canada's main stock index fell on Monday to its lowest level in 18 months, including declines for resource shares and for shares of one of the country's major banks, as investors worried about the economic impact of aggressive central bank tightening. The Toronto Stock Exchange's S&P/TSX composite index ended down 153.94 points, or 0.8%, at 18,327.04. "The final week of the month and the quarter has picked up where last week left off, with stock markets in retreat, Treasury yields soaring and currency markets in turmoil," Colin Cieszynski, chief market strategist at SIA Wealth Management, said in a note.

  • U.S. VP Harris pledges to consult S.Korea over EV subsidy concerns

    TOKYO/SEOUL (Reuters) -U.S. Vice President Kamala Harris told South Korea's prime minister on Tuesday that Washington will work to address Seoul's concerns over recently enacted electric vehicle (EV) subsidies that could disadvantage Asian automakers. The $430 billion "Inflation Reduction Act" bill enacted in August includes a host of U.S. President Joe Biden's priorities, including investments to roll back climate change and make Washington a world leader in the EV market. The law also ends subsidies for other EV models and requires that a percentage of critical minerals used in those cars' batteries come from the United States or an American free-trade partner.

  • Dye & Durham to buy back up to 5% of its shares in normal course issuer bid

    TORONTO — Dye & Durham Ltd. says it is planning to buy back up to five per cent of its shares in an normal course issuer bid. The Toronto-based company says it will buy back up to 3,457,508 of its shares over the next 12 months starting on Friday. The company says it is buying back its shares because it believes that, from time to time, the market price of the shares may not fully reflect the underlying value of its business and future prospects. By buying back its shares, a company spreads its

  • White House: New rule will show 'true cost' of plane tickets

    WASHINGTON (AP) — President Joe Biden announced a new initiative Monday that would eventually allow consumers to see a more complete price on airline tickets — including baggage and change fees — before they buy, as the White House continues to search for ways to lower costs for Americans amid persistently high inflation. The White House says the proposed rule from the Transportation Department will prevent airlines from hiding the “true cost” of airline tickets, which would help consumers save

  • Exclusive-China prepares to tweak yuan fixing process to slow its fall -source

    Chinese monetary authorities are asking local banks to revive a yuan fixing tool it abandoned two years ago as they seek to steer and defend the rapidly weakening currency, a source said on Tuesday. The source, who is familiar with the yuan rate-setting process, said monetary authorities were prodding banks to include the so-called counter-cyclical factor in their daily fixings for the tightly-managed exchange rate. It's an adjustment that 14 banks make to their yuan quotes that the People's Bank of China (PBOC) uses to set the daily reference rate, effectively introducing a bias to the fixing rate.