Bank of Canada's Macklem Warns of Weaker Growth Without Tariff Resolution
Following the end of the Group of Seven meeting of finance and central bank chiefs, Macklem said he expects first-quarter gross-domestic data to show weak consumer spending and business investment, which will be partly offset by a buildup in inventories as companies sought to escape retaliatory tariffs on U.S. imports.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
4 minutes ago
- Bloomberg
HPS-Led Group Nears Deal to Buy $2.2 Billion of Stuck LBO Debt
HPS Investment Partners and a group of lenders, including Apollo Global Management Inc., are snapping up over $2.2 billion of buyout debt that had been stuck on bank balance sheets since the Trump Administration's tariff proposals disrupted markets earlier this year, according to people familiar with the matter. The financing, which was tied to a buyout by Canadian auto parts maker ABC Technologies Holdings Inc., includes a $1.6 billion private credit loan led by HPS as well as a $675 million last-out term loan, said the people, who requested anonymity to discuss private deliberations. Apollo, the sponsor for ABC Technologies, is set to take a portion of the last-out loan, they said.
Yahoo
an hour ago
- Yahoo
Why Canadian Solar Plummeted Today
Key Points Canadian Solar's second-quarter results came in below expectations, with a tepid outlook. President Trump also said his administration would not approve any more solar projects, calling wind and solar "the scam of the century." The entire solar sector was down on the news, but Canadian Solar especially so. 10 stocks we like better than Canadian Solar › Shares of solar module manufacturer and project developer Canadian Solar (NASDAQ: CSIQ) plunged 18% on Thursday as of 2:05 p.m. ET. Canadian Solar faced a double whammy today. Not only did President Donald Trump make comments on social media that eviscerated the entire solar sector, but Canadian Solar also delivered an underwhelming Q2 earnings report. A miss on both lines and uncertainty about the future In the second quarter, Canadian Solar's revenue grew just 3.9%, with an adjusted (non-GAAP) net loss per share of $0.53. While both figures improved relative to the prior-year quarter, they handily missed analyst estimates. The company did point out its solar module shipments came in at the higher end of the guidance range, and gross margin exceeded the high end. However, that gross margin was helped out by the one-time recognition of an unrealized gain for sales-type leasing, and module volumes were driven by a surge of orders in China. In other words, these figures were higher than normal, with the gross margin improvement based largely on accounting. CEO Shawn Qu also forecast a slowdown, saying, "Following the surge in installations in China during the first half, we expect demand to normalize as the market adjusts to a new paradigm." To that end, management forecast just $1.4 billion in revenue at the midpoint for the third quarter, down from $1.73 billion in the second quarter, with gross margin normalizing down to 15% at the midpoint. Speaking of Qu's mention of a "new paradigm," President Donald Trump cast a pall over the entire solar sector today with a post on his social media platform, Truth Social, writing: Any State that has built and relied on WINDMILLS and SOLAR for power are seeing RECORD BREAKING INCREASES IN ELECTRICITY AND ENERGY COSTS. THE SCAM OF THE CENTURY! We will not approve wind or farmer destroying Solar. The days of stupidity are over in the USA!!! MAGA It wasn't clear exactly what prompted Trump's threat to not approve any more solar projects. Electricity prices have increased over the past year, but experts attribute that to the rise of energy-hungry artificial intelligence (AI) data centers and onshore manufacturing, initiatives that Trump has supported, and which have lifted prices in states with both lots of renewables and little renewables alike. Solar stocks under the microscope Solar stocks have continued to largely struggle this year, seemingly validating the fears ever since last year's election. Clearly, the administration is hostile to solar and wind projects, so the industry will have to figure out how to navigate this overhang. On the bright-ish side, only 23% of Canadian Solar's development pipeline comes from North America. So while more restrictions on U.S. solar projects would be a headwind, the company may be able to continue diversifying away from the U.S. for its growth. Should you buy stock in Canadian Solar right now? Before you buy stock in Canadian Solar, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Canadian Solar 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 $654,624!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,075,117!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 Billy Duberstein and/or his clients no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Canadian Solar Plummeted Today was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Subway hires president of North America
This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Name: Damien Harmon New title: President of North America, Subway Previous title: Senior executive vice president of customer, channel experiences and enterprise services, Best Buy Harmon has over 20 years of experience in operations, retail and customer experience, Subway said in a press release. In his new role, he will help accelerate sustainable growth, drive franchisee profitability and improve the guest experience across North America. His appointment was part of a move to bring in new leadership across various regions. Those appointments included Tracy Gehlan as president of Europe, the Middle East and Africa and Artemio Garza as president of Latin America and Caribbean. The hirings also come roughly a month after the chain brought on Jonathan Fitzpatrick as its newest CEO. 'We've brought together a group of strong, experienced leaders who believe in Subway's vision and are committed to partnering with our franchisees and employees to take this brand to the next level,' Fitzpatrick said in a statement. In his most recent role at Best Buy, Harmon oversaw store and services teams and 'championed initiatives that drove employee engagement, increased and strengthened long-term customer relationships, and delivered consistent, industry-leading results for the company,' the press release said. Harmon has also served in various positions at Bridgestone Americas. Harmon will likely oversee ongoing remodels across the U.S. system. Subway is providing rebates to franchisees as a way to reinvest in the operators' business, according to Restaurant Business. These rebates are about 10% of a franchisees' average weekly sales for the first half of this year. 'We have rolled out a special reinvestment program for U.S. franchisees,' a Subway spokesperson said in an email about the reinvestment program. 'Franchisee profitability is a top priority. With a new leadership team in place, we are exploring several initiatives focused on supporting our franchises, creating long-term sustainable growth, and helping to increase profitability.' A focus on franchisee profitability could help slow down ongoing closures across the U.S. system. The company closed 631 units last year, according to its franchise disclosure document. That follows 443 closures in 2023 and 571 in 2022. Average unit volumes are among the lowest in the industry at roughly $490,000, according to Restaurant Business. Recommended Reading Subway taps Burger King vet as CEO 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