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Yahoo
16 minutes ago
- Yahoo
Bay Street shrugs off tariff threat as dealmaking tally hits $310 billion
An uncertain economy stemming from United States President Donald Trump's tariffs hasn't slowed Canada's financial sector, which posted one its strongest starts to the year in the past decade. Overall, Canada's capital markets sector raised about $310 billion through 502 deals in the first six months of 2025, according to figures provided by Financial Post Data. While that's an 8.5 per cent decline from the record $338.8 billion raised in the first half of 2024, it's still the third highest total since 2011. 'It's hard to believe that equities are setting new all-time highs, credit spreads are at multi-year tights and corporate deal-making activity is well above historical averages when you consider the global trade war, recent developments in the Middle East and uncertain economic outlook,' said Rob Brown, co-head of Canadian debt capital markets at the Royal Bank of Canada. 'But that is exactly what has happened.' A strong capital markets sector suggests that businesses and governments are keen on raising long-term funds to make investments, expand operations and in the process, create jobs and boost productivity. While there was a standstill in issuance activity in April after Trump's 'Liberation Day' tariffs were announced, for the most part activity remained consistently high throughout the first half of the year, said Brown. The tariff situation compelled issuers to pull funding plans forward to the first quarter to get ahead of the Liberation Day deadline, he said. But then they returned in 'droves in May and June' as the market recovered. 'A recognition that tariff and geopolitical risks remain ever-present continue to motivate opportunistic issuance while the tone is supportive,' said Brown. He credited the 'recent improvement in sentiment' to the 'perception that trade tensions will soften, (the) expectation that the U.S. Fed will eventually begin cutting rates and resilient economic data.' RBC's capital markets team participated in the most deals and helped raise the largest amount of capital — $44.51 billion — in the first half of 2024, earning a market share of 14.3 per cent of all capital raised, according to tallies from FP Data. BMO Capital Markets was second with a market share of 10.86 per cent, raising about $33.6 billion, while CIBC World Markets Inc. was third with $30.65 billion. TD Securities Inc., National Bank Financial and Scotia Capital Inc., followed at $30.34 billion, $29.41 billion and $21.57 billion respectively, giving them corresponding market shares of 9.79, 9.49 and 6.96 per cent. The total amount of debt raised by corporations was $153.04 billion, down 4.3 per cent from the same time last year, while government entities raised $144.9 billion, down 13.5 per cent. Despite the yearly declines, the money raised through each of these segments this year remains the third highest since 2011. In contrast, capital raised by companies through selling shares increased 3.3 per cent to $11.46 billion in the first half of 2025. Activity in the equity markets space had been on the decline since 2022, following a steep increase in 2021. But the increase in the first half of 2025, may potentially change that trend. The yearly increase in the equity space though took place thanks to a series of deals that closed in June — right before the end of the first half of the year. For instance, the biggest deal on the equity side closed on June 20, when Calgary-based Keyera Corp. sold new shares to raise a total of $2.1 billion as it looked to purchase Plains' Canadian NGL business, plus select U.S. assets, for total cash consideration of $5.15 billion. Similarly, Pet Valu Holdings Ltd., was third on the list as a secondary offering raised about $576 million on June 9, while Idaho-based Perpetua Resources Corp., raised about $444 million on June 16, as part of a plan to develop one of its gold projects. Critical minerals help drive dealmaking surge on Bay Street Interest rate peak fuels optimism on Bay Street 'Despite the macro and geo-political uncertainty, there has been a healthy amount of M&A activity, some of which has resulted in equity issuance as part of the acquisition financing strategy,' said Jackie Nixon, Canada head of equity capital markets at RBC. 'There is also a much more active dialogue today than there was a year ago with private companies about going public, so hopefully we will start to see more signs of life in the Canadian issuer IPO market.' Given the current political backdrop, RBC is encouraging potential issuers to be 'nimble, opportunistic' and to take advantage of available windows, said Nixon. • Email: nkarim@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21 minutes ago
- Yahoo
Massive outage takes down major apps — Google Cloud, Discord, Spotify, YouTube hit
Massive outage takes down major apps — Google Cloud, Discord, Spotify, YouTube hit originally appeared on TheStreet. A Google Cloud outage, which impacted Cloudflare, led to several leading applications, such as Discord, Spotify, Twitch, Firebase, Cursor, etc. partially shutting down. As per DownDetector, many major platforms including YouTube, Gmail, Discord, Snapchat, Google Maps, Rocket League, and were affected by the Google Cloud outage. The spike in outages began around 12:30 PM UTC and escalated rapidly across multiple regions. PlayStation Network, Fortnite, Xbox Live, and Call of Duty servers have all reportedly crashed. YouTube is partially working, but glitchy. ChatGPT is online, but reports of 'slow servers' and 'no network' issues are pouring in. While this isn't directly a crypto-specific outage, it's hitting the same infrastructure many exchanges, bots, and analytics tools rely on. However, Discord going down impacted the crypto community as it heavily relies on the instant messaging app for latest news surrounding coin prices, listings, mergers and acquisitions, etc. Meanwhile, X continued to offer the latest crypto commentary. The social media platform, owned by Elon Musk, likely avoided the outage due to its shift to on-premises infrastructure. As per Grok, X has reduced dependency on cloud services through dedicated data centres, saving it from the outage. The AI crypto app, Alva, reassured the crypto community that there is no market disruption yet as there is no reported spike in on-chain chatter and trader sentiment. No crypto exchange took the hit today but a Cloudflare outage back on June 21, 2022 disrupted exchanges such as FTX, Bitfinex, and OKX, raising concerns about the reliability of centralized platforms. The outage lasted 2 hours and 28 minutes. All Cloudflare services have been since restored and are fully operational. Massive outage takes down major apps — Google Cloud, Discord, Spotify, YouTube hit first appeared on TheStreet on Jun 12, 2025 This story was originally reported by TheStreet on Jun 12, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
Unlocking Q2 Potential of Levi Strauss (LEVI): Exploring Wall Street Estimates for Key Metrics
Wall Street analysts expect Levi Strauss (LEVI) to post quarterly earnings of $0.14 per share in its upcoming report, which indicates a year-over-year decline of 12.5%. Revenues are expected to be $1.37 billion, down 5.2% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe. Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock. While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. Bearing this in mind, let's now explore the average estimates of specific Levi Strauss metrics that are commonly monitored and projected by Wall Street analysts. The consensus among analysts is that 'Geographic Revenues- Americas' will reach $712.89 million. The estimate indicates a year-over-year change of +0.1%. Based on the collective assessment of analysts, 'Geographic Revenues- Europe' should arrive at $356.88 million. The estimate indicates a change of +0.8% from the prior-year quarter. According to the collective judgment of analysts, 'Geographic Revenues- Other Brands' should come in at $34.25 million. The estimate suggests a change of -70.2% year over year. The collective assessment of analysts points to an estimated 'Geographic Revenues- Asia' of $261.86 million. The estimate indicates a year-over-year change of +0.7%. View all Key Company Metrics for Levi Strauss here>>> Over the past month, shares of Levi Strauss have returned +10.6% versus the Zacks S&P 500 composite's +5.2% change. Currently, LEVI carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Levi Strauss & Co. (LEVI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
