Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

Shopify is defending itself after claims made in Citron Research’s video and published report yesterday sent the company’s stock down 11.6 per cent, for its biggest single-day decline since going public in 2015. “We vigorously defend our business model and stand resolutely behind our mission and the success of our merchants,” the Ottawa-based software company said in a press release this morning – without specifically addressing any of Citron’s allegations. Meanwhile, lawyers are coming out of the woodwork. There's at least seven law firms that announced investigations that could lead to class action. We’ll keep chasing reaction from the other side of the Shopify trade.    

SEARS IN RACE AGAINST THE CLOCK

The insolvent retailer was granted approval Wednesday to extend its stay under CCAA to Nov. 7, but we will learn the company’s fate much sooner. The next court date is slated for Oct. 13, by which time the decision between Brandon Stranzl’s bid and potential liquidation will be clear. We’ve got Jon’s report on what’s at stake for Sears’ employees, and we’ll continue assessing the stakes for the retailer’s landlords and its rivals.

IN CONVERSATION WITH BILL MORNEAU

The finance minister joins us this afternoon at approximately 3:10 p.m. ET for a discussion about the government’s tax reform strategy. Don’t miss it.

OTHER NOTABLE STORIES:

-We await word on the second round of U.S. duties on Bombardier’s CSeries. After announcing 219.63 per cent preliminary countervailing duties on Sept. 26, today we expect to learn Commerce’s prelim anti-dumping levy.

-Back in June, BNN's Jon Erlichman reported on Alphabet’s Sidewalk Labs being in contention as a front-runner for a high-profile waterfront development project in Toronto. Now, several reports are saying the development could soon get the green light.

NOTABLE RELEASES/EVENTS

-Notable earnings: Aritzia, Costco

-Notable data: Canadian trade balance, U.S. international trade balance

-U.S. Commerce Department expected to release preliminary anti-dumping duty decision for CSeries

-7:00 a.m. ET: Montreal Real Estate Board releases monthly sales data

-10:00 a.m. ET: Parliamentary Budget Officer releases 2017 fiscal sustainability report

-9:00 a.m. ET: Ontario minister of government and consumer services makes consumer protection announcement

-10:30 a.m. ET: Finance Minister Bill Morneau holds media avail in Toronto after meeting with private sector economists

-2:30 p.m. ET: Heritage Minister Mélanie Joly delivers speech in Vancouver 

Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.