The Daily Chase: Inflation slowed to 4.3% in March; Loblaw's names new CEO
BNN Bloomberg
It looks like the Bank of Canada's fight against inflation is gaining some traction.
MIXED MORNING OF U.S BANK EARNINGS
It’s sort of a mixed bag this morning as we roll through U.S. bank earnings season. Shares of Bank of America are gaining in the premarket – up about three per cent – after the company topped first quarter profit expectations, in large part due to gains in the fixed-income division. Beyond the FICC windfall, there was some commonality with the likes of JPMorgan and Wells Fargo, which reported yesterday – net interest income (call it the spread between what the bank borrows at and what it lends at) rose 25 per cent in the quarter to US$14.4 billion. On the flip side to all this, and reflective of its less consumer-facing nature, Goldman Sachs suffered something of a troublesome first quarter – revenue missed estimates in Q1, as a slowdown in advisory services to companies looking to go to market took a toll.
WESTON STEPPING ASIDE AS LOBLAW CEO
