Amazon union drive facing long odds as final votes counted
The union hoping to change U.S. labor history by organizing Amazon.com
warehouse employees in Alabama faces a steep uphill slog when vote
• First White House budget proposal to preview Biden's goals
President Joe Biden will release his first budget proposal to Congress, offering a long-awaited glimpse into a policy agenda
that will mark a sharp departure from his predecessor, Donald Trump.
private flights fuel M&A interest in corporate jet services providers
As U.S. business aviation traffic rebounds to pre-pandemic levels, a niche, fragmented industry providing services ranging
from hangars to fueling is drawing interest from private equity funds and infrastructure investors.
Rio Tinto, Turquoise Hill reach deal on Oyu Tolgoi expansion
Rio Tinto said it has reached a binding agreement with Turquoise Hill Resources over funding for expansion of the massive
Oyu Tolgoi copper-gold mine in Mongolia.
Boeing flags possible production issue in some 737 MAX jets to customers
Boeing has asked 16 of its customers to address a potential production
issue related to an electrical power system in certain 737 MAX jets
prior to further operations, the U.S. planemaker said.
BEFORE THE BELL
Canada's main stock index futures inched
higher as optimism around a faster pace of economic rebound set the
market on track for a second consecutive weekly gain. Wall
Street futures were subdued, as a rise in bond yields weighed on richly valued technology stocks a day after the S&P 500 closed at a record high. European
stocks were little changed, after hitting longest weekly highs since November 2019. Japan's Nikkei ended higher, with the beginning of the earnings season. The U.S.
dollar recovered, following weak U.S. jobs data. Gold prices slipped. Oil prices were little changed.
STOCKS TO WATCH
• Barrick Gold Corp:
The company has reached a deal that gives the Papua New Guinea
government a majority share in the Porgera gold mine as part of plans to
restart operations, the company
said. The deal will set a benchmark for further resources projects in
the region, Prime Minister James Marape said in a statement, and help
shape the terms of new developments by the likes of Australian gold
miner Newcrest Mining.
• Turquoise Hill Resources Ltd:
Rio Tinto said it has reached a binding
agreement with Turquoise Hill over funding for expansion of the massive
Oyu Tolgoi copper-gold mine in Mongolia. Rio and Turquoise Hill will
restructure debt payments of up to $1.4 billion with lenders and look to
raise up to $500 million in supplemental debt
under existing financing arrangements. The agreement will smooth the
way for the next phase of development, which has faced cost and timeline
blowouts and has caused acrimony between the mining giant and its
• Cronos Group Inc:
Jefferies raises target price to C$5.90 from C$5, seeing the
optionality of the company entering the U.S. very soon due to U.S.
ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 (approx.) Average hourly wages permanent employee yy for Mar: Prior 4.26%
0830 (approx.) Employment change for Mar: Expected 100,000; Prior 259,200
0830 (approx.) Unemployment rate for Mar: Expected 8.0%; Prior 8.2%
0830 (approx.) Full time employment change SA for Mar: Prior 88,200
0830 (approx.) Part time employment change SA for Mar: Prior 171,000
0830 (approx.) Participation rate for Mar: Prior 64.7%
COMPANIES REPORTING RESULTS
Corus Entertainment Inc: Expected Q2 earnings of 12 Canadian cents per share
MTY Food Group Inc: Expected Q1 earnings of 51 Canadian cents per share
Aphria Inc: Expected Q3 loss of 4 Canadian cents per share
CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Corus Entertainment Inc: Q2 earnings conference call
Guardian Capital Group Ltd: Amount C$0.18
(All analysts' estimates are according to I/B/E/S Refinitiv data)