Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

Bombardier heads into the world’s most important airshow with a bounce in its step. A little more than two years ago, the Montreal-based plane and train maker was a penny stock and facing CCAA rumblings. Fast-forward to today, and shares are up almost 600 per cent from their February 2016 low, and one of the top performers on the TSX so far this year. Now we wait to see if the company will deliver more for investors to cheer at Farnborough. Bloomberg News is reporting WestJet co-founder David Neeleman is closing in on a deal for 60 A220s for his upstart ultra-low-cost carrier. Meanwhile, Bombardier President of Commercial Aircraft Fred Cromer told Bloomberg News this morning his team is squarely focused on China as a crucial growth market. We’ll bring you that full conversation and check in with Bloomberg’s Guy Johnson at Farnborough.

TRUMP MEETS PUTIN

U.S. President Donald Trump is setting a low bar for his long-awaited summit with Russia President Vladimir Putin today in Helsinki. “Nothing bad is going to come out of it and maybe some good will come, but I go in with low expectations,” Trump told CBS yesterday. Heading into the meeting, Trump pinpointed Germany’s energy dependence on Russia as a sticking point – a similar narrative as what former Foreign Minister Peter Mackay told BNN Bloomberg a few weeks ago. We’ll catch up with Mackay again today at 1:30 p.m. ET.

MIXED BAG IN CHINA

Take your pick of which metric best captures China’s economic reality. Last night’s data dump shows the world’s second-largest economy decelerated to 6.7 per cent year-over-year growth in the second quarter, while retail sales surged 9.0 per cent in June, and industrial production fell short of expectations with a 6.0 per cent y/y rise last month.  

OTHER NOTABLE STORIES

-Shares of bus maker NFI Group (formerly known as New Flyer) are rallying after the company provided an update on its order book and said metals tariffs will have an “immaterial impact” this year.

-Shopify announced another pot industry partnership today, with Aurora Cannabis planning to use the company’s technology to power an e-commerce portal

-Valeant Pharmaceuticals’ name change officially takes effect today. Bausch Health Companies will start trading on the TSX and NYSE today under the ticker symbol BHC.

-Amazon’s 36-hour marathon of sales for Prime members starts today at 3:00 p.m ET. The issue that matters for us today is the question of how many consumers will be compelled to sign up to take part in the savings.

NOTABLE RELEASES/EVENTS

-Notable earnings: Bank of America, Netflix

-Notable data: Canadian international securities transactions, Canadian existing home sales, U.S. retail sales, China GDP, China retail sales, China industrial production

-6:20 a.m. ET: U.S. President Donald Trump holds bilateral meeting with Russia President Vladimir Putin in Helsinki

-9:50 a.m. ET: Trump, Putin hold joint news conference in Helsinki

-10:00 a.m. ET: International Monetary Fund releases World Economic Outlook update

-Farnborough International Airshow (runs to July 22)

Every morning BNN'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.