Here are five things you need to know this morning
U.S. Supreme Court mulls Trump tariffs: Canadian businesses are watching developments in Washington closely, as the U.S. Supreme Court considers arguments on the legality of U.S. President Donald Trump’s trade tariffs. The court will have to decide if the president overstepped his authority by declaring a national emergency to unilaterally impose tariffs on 90 countries, including the one it shares its northern border with. The Court is a six to three majority of Republican-appointed judges, yet in the nearly three hour oral arguments, several conservative-leaning judges, including those appointed by Trump seemed skeptical. The court is expected to move swiftly on the issue, which could mean weeks or by the end of the year.
Ziply boosts BCE to profit beat: BCE beat expectations in the third quarter as the company’s newly acquired American internet provider boosted revenue and internet subscriptions. This is the first quarter that BCE’s purchase of Ziply Fiber was fully reflected in the results. Canada’s largest telecommunications company added over 26,000 internet subscribers, including through Ziply. We’ll dig into the results, and the company’s future plans, with CEO Mirko Bibic at 1:30 Eastern Time today on BNN Bloomberg. BCE is the parent company of BNN Bloomberg through its Bell Media division.
Mixed results from Bombardier: Bombardier reported an 11 per cent increase in revenue in the third quarter driven by the delivery of four more planes compared to one year ago and its post-sale repair, maintenance and support division. Revenue beat expectations, but adjusted profit was slightly less than analyst estimates. The Montreal-based business jet maker says it’s been able to continue exporting jets to the U.S. despite trade tensions between the two countries since the planes comply with the CUSMA trade agreement.
Nutrien puts phosphate business up for sale: Nutrien is considering strategic alternatives for its phosphate business, including a potential sale. The division is worth an estimated US$2.4 billion, though it is the smallest of Nutrien’s four units. The Saskatchewan-based fertilizer company says the move is designed to simplify its portfolio, enhance earnings quality, and support free cash flow.
Cineplex summer slump: A lack of blockbuster films this summer has taken a toll on Cineplex. The Canadian movie-theatre chain saw its revenue and adjusted profit drop in the third quarter, missing analyst expectations. Attendance fell by more than nine per cent compared to the same period last year. We’ll find out more when BNN Bloomberg speaks with CEO Ellis Jacob today at 1:20 PM Eastern Time.
