Canada Retail Sales Rose Again in April Despite Tariff War
Canadian consumers kept on spending last month, defying a tariff war that threatens their employment and wealth.
An advance estimate suggests receipts for retailers rose 0.5% in April, Statistics Canada said Friday. That extended a 0.8% gain in March, which beat the median projection in a Bloomberg survey of economists.
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33 minutes ago
- Yahoo
In the news today: Fentanyl czar welcomes federal border bill
Here is a roundup of stories from The Canadian Press designed to bring you up to speed... Fentanyl czar welcomes federal border bill Canada's fentanyl czar says the fight against the deadly opioid would get a boost from proposed new tools for law enforcement in the Liberal government's recently tabled border bill. Kevin Brosseau, the federal point person on fentanyl, welcomes provisions in the Strong Borders Act to increase inspection powers, give police easier access to information, crack down on money laundering and improve control of chemicals used to make the drug. Brosseau was appointed fentanyl commissioner in February in response to the White House's vocal concerns about the southbound flow of the synthetic opioid into the United States — criticism it used to justify tariffs against Canada. In an interview, Brosseau said Canada is "not the significant source" of fentanyl entering the United States, but reiterated his stance that being the source of any of the drug is a concern because small amounts can have devastating effects. Brosseau said his American counterparts have expressed "deep appreciation" for Canada's efforts to address fentanyl, given the U.S. focus on hardening the border and protecting the homeland. Here's what else we're watching... Here are the countries on Canada's G7 guest list Canada is bringing the world to Alberta for the G7 leaders summit in Kananaskis. As summit host, Prime Minister Mark Carney can invite any leaders he chooses — even those from countries outside the G7 club — as he attempts to shape Canada's foreign policy and global geopolitics. When asked on June 7 to explain how Canada decided on the list of non-G7 leaders to invite, Foreign Affairs Minister Anita Anand said the government was seeking a discussion of "very serious issues that affect the global economy and the geostrategic environment." Among the world leaders attending include Australian Prime Minister Anthony Albanese, who is a willing partner for Canada as it tries to shore up its trade and defence links across the Indo-Pacific. In March, Carney announced a deal was in the works to have Ottawa partner with Australia on an early-warning radar detection system to use in the Arctic and across the U.S. border. Premiers to meet with New England governors A group of Canadian premiers appear to be setting high expectations as they pursue negotiations with American governors to mitigate the impacts of United States-imposed tariffs on their economies. 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Edmonton clawed back within two early in the second period on a power-play goal off the stick of Ryan Nugent-Hopkins. Pickard then — almost out of nowhere — was forced to make a save that will be remembered for a long time if the Oilers end up hoisting their sixth championship. The former journeyman netminder denied Anton Lundell on that breakaway after defenceman Jake Walman turned the puck over to keep the score at 3-1 before making a number of huge stops that set the stage for Leon Draisaitl's overtime winner as Edmonton defeated Florida 5-4 to even the best-of-seven title series 2-2. The 33-year-old has bailed the Oilers out before this spring. This report by The Canadian Press was first published June 13, 2025. The Canadian Press
Yahoo
33 minutes ago
- Yahoo
The Best High-Yield Bank Stock to Invest $25,000 in Right Now
I just upped my position in Bank of Nova Scotia. The Canadian banking giant started a business shift in 2024. After no dividend hike in 2024, Scotiabank is back on the dividend growth train. 10 stocks we like better than Bank Of Nova Scotia › Citigroup (NYSE: C) is a popular U.S. bank with an attractive 2.8% yield. But what if you could get more than twice that yield without taking on a huge amount of risk? That's exactly what I did when I doubled my position in this Canadian banking giant. The trigger for my investment was the company's return to dividend growth with a 4% hike announced after it reported earnings for its fiscal second quarter of 2025. Here's why you might want to follow along if you have $25,000, or even just $500, to invest. Banks like Citigroup can be complex, but the core of the operation is usually pretty simple. They take in deposits and make loans. Customers include individuals and businesses. That's usually the foundation of even the largest banks. On top of that they layer more complex businesses, like wealth management or investment banking. Generally speaking, this creates a fairly solid business and one that provides necessary services. But sometimes banks get out over their skis, which is exactly what happened to Citigroup during the Great Recession. The bank ended up taking a government bailout and cutting its dividend. It wasn't alone, a lot of major U.S. banks did the same, including Bank of America. Some smaller banks got so extended in the housing crisis that they had to sell themselves, usually to larger banks like Citigroup and Bank of America. This situation turned me off from the U.S. banking system and turned me on to Canada's highly regulated banking system. I own Toronto-Dominion Bank and Bank of Nova Scotia (NYSE: BNS). I just upped my stake in Bank of Nova Scotia, which is usually just called Scotiabank, after the company returned to dividend growth following a turnaround year. It has a 5.9% dividend yield, which is more than double what you'd get from Citigroup. To put some dollars and cents on that, $25,000 worth of Citigroup stock nets you an annual income stream of $700. The same investment in Bank of Nova Scotia brings in around $1,475. Bank of Nova Scotia is one of the largest banks in Canada, largely offering basic banking services. Canadian banks tend to be operated in a very conservative manner because of the heavy banking regulation in the country. This has, effectively, provided the biggest banks with entrenched industry positions. As one of the largest banks, Bank of Nova Scotia has a rock solid business foundation in its home country. This is not true of U.S. banks, where competition tends to be pretty fierce. The big highlight for me on the Canadian side of the border was the fact that Bank of Nova Scotia (and Toronto-Dominion Bank) maintained its dividend through the Great Recession. I'm confident that Scotiabank will keep paying a reliable dividend, too, noting that the company has paid a dividend every single year since 1833. That's nearly 200 years! The one big problem with Scotiabank is that it has chosen a different path when it comes to growth. Most of its peers have pushed into the U.S. market. Scotiabank focused on growing its business in Central and South America. That didn't work out as well as hoped and it changed gears, with plans to increase its presence in the U.S. market while refocusing on key Central and South American markets. It basically wants to provide a seamless banking experience from Mexico, though the United States, and on to Canada. The revamp resulted in management holding the dividend steady in 2024 as it shifted gears. In 2025 the bank provided the big update I was looking for with the dividend increase. Management and the board is clearly comfortable enough with the progress they have made to resume dividend increases. That tells me all I need to know, because there was no need to hike the dividend yet. It was a choice meant to signal financial strength at a business that is starting to shift in a new direction. To be honest, the fiscal second quarter wasn't the best one for Scotiabank. Adjusted net income, adjusted earnings, and return on equity all fell year over year. The core Canadian operations were particularly weak as the company materially increased its reserves for bad debt. But that's a preemptive move to ensure it remains financially strong. And exactly what I would expect from a conservatively run bank. The really big news is that Bank of Nova Scotia is confident in the success it is achieving with its turnaround. The high yield is paying me well to stick by a relatively conservative bank as it continues to shift in a new business direction. And the dividend increase was enough to get me to double down. But for dividend investors with $500 or $25,000, the end result of going with Scotiabank over a U.S. bank like Citigroup is dramatically more income. Before you buy stock in Bank Of Nova Scotia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Bank Of Nova Scotia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,871!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $875,479!* Now, it's worth noting Stock Advisor's total average return is 998% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Citigroup is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Reuben Gregg Brewer has positions in Bank Of Nova Scotia and Toronto-Dominion Bank. The Motley Fool has positions in and recommends Bank of America. The Motley Fool recommends Bank Of Nova Scotia. The Motley Fool has a disclosure policy. The Best High-Yield Bank Stock to Invest $25,000 in Right Now was originally published by The Motley Fool Sign in to access your portfolio
Wall Street Journal
42 minutes ago
- Wall Street Journal
China's ‘Cash-for-Clunkers' Underlines Need for Structural Reform
China's plan to get consumers spending again may be working a little too well. Policymakers' rollout of subsidies for smartphones, home appliances, cars and a host of other products have spurred a long sought-after pickup in spending. But the funds needed to keep it going are running out faster than planned.
