Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

China’s economic growth decelerated to a mere 6.2 per cent in the second quarter, the weakest output since at least 1992 as trade friction with the United States takes a toll. American President Donald Trump pounced on the slowdown via Twitter this morning, claiming “…China wants to make a deal…” Worth noting industrial production and retail sales gained momentum in June, suggesting Beijing won’t be forced into a deal out of desperation.

CANNTRUST WATCH

After losing almost half its value last week, CannTrust has until Thursday to file its official response to Health Canada after running afoul of the regulator with illegal production that was allegedly hidden by temporary walls at one of its facilities. Haven’t seen an official statement from the company since it suspended sales and shipments Thursday evening; if you missed it, however, CEO Peter Aceto briefly broke his silence via Instagram. We’ll keep tabs on the stakes for the company and the country’s cannabis market.

HOME CAPITAL TURNAROUND

Two years ago, Home Capital Group was fighting for survival. Today, it’s among the TSX’s top performers this year (stock up 53 per cent) as it slowly but surely rebuilds trust in the mortgage industry and among investors. Check out Jon Erlichman's piece on the turnaround at BNNBloomberg.ca

OTHER NOTABLE STORIES

-Another round of wild year-over-year swings from Canada’s legal cannabis sector. Organigram Holdings’ fiscal third-quarter revenue surged 784 per cent to US$30.4 million. Net income, meanwhile, swung to a loss of US$10.2 million from a profit of US$2.8 million a year earlier.

-Aimia could be a stock to watch today after the company announced the appointment of two new independent directors, Dieter Jentsch (a former Scotiabank exec) and Frederick Mifflin. We’ll seek reaction from Mittleman Brothers.

-In a memorandum late Friday, U.S. President Donald Trump officially balked at implementing quotas on uranium imports.

-Pakistan has been ordered to pay Barrick Gold and Antofagasta US$5.84 billion in an arbitration case over a mining lease dispute in the country.

-American Airlines has removed Boeing’s 737 Max from its schedule until at least Nov. 2, and the Wall Street Journal has pieced together a story pointing to the embattled aircraft not returning to service this year.

-Stella-Jones is hunting for a new CEO after disclosing Brian McManus is stepping down in October. CFO Eric Vachon is on deck to serve as chief executive on an interim basis.

NOTABLE RELEASES/EVENTS

-Notable earnings: Organigram, Citigroup

-Notable data: Canadian existing home sales; China GDP, retail sales, industrial production 

-11:15 a.m. ET: Prime Minister Justin Trudeau holds media avail alongside NATO Secretary General Jens Stoltenberg at Canadian Forces Base Petawawa

-11:45 a.m. ET: U.S. President Donald Trump hosts Made in American product showcase at White House

Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg'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.bnnbloomberg.ca/subscribe.