BMO and Scotiabank set aside larger loan loss provisions as quarterly results send mixed signals: Bank of Nova Scotia and Bank of Montreal added a combined $3.2-billion more to reserves against future losses in the third quarter, bracing for the likelihood of a slower economic recovery as cases of the novel coronavirus spike in key markets abroad. (James Bradshaw)
GFL closes oversubscribed debt offering, strikes back against short-seller: GFL Environmental Inc. closed an oversubscribed debt offering on Tuesday and used the opportunity to push back against a short-seller who attacked the company last week, saying its board finds the analysis “deeply flawed.” (David Milstead)
Morgan Stanley’s inflation forecast good news for Canadian stocks: Morgan Stanley strategists and economists correctly forecast the sustainability of the post-March market rallies, and if their next prediction is right, it means wholesale changes in market leadership that favour Canadian stocks. Chetan Ahya is the Wall Street firm’s chief economist and one of the few prominent analysts predicting rising inflation pressure that will be reflected in higher long-term bond yields. (Scott Barlow)
Ontario Teacher’s Pension Plan bringing in new investment partners at UK airports: The Ontario Teachers’ Pension Plan says it is selling off 30 per cent of its stakes at two United Kingdom regional airports to broaden its investment strategy. The deal will see Australia’s New South Wales Treasury Corporation and Sunsuper Superannuation Fund each acquire a 15 per cent stake of Ontario Teachers’ ownership in Bristol Airport and Birmingham Airport. (The Canadian Press)
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