Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

The founder of Huawei Technologies is striking a defiant tone as the Trump administration attempts to freeze out the Chinese telecom conglomerate by choking off parts of its supply chain. “The U.S. is not the international police … The rest of the world decides whether they should work with us based on their own business interests and positions,” Ren Zhengfei told our Bloomberg partners. We have highlights from that interview and The Street fills out coverage with a discussion on the global 5G race.

FIAT CHRYSLER PITCHES MERGER WITH RENAULT

For years, former FCA CEO Sergio Marchionne championed consolidation in the automotive industry. Now, almost a year since his passing, Fiat Chrysler has tabled a proposed 50-50 merger with Groupe Renault. The press release states plant closures aren’t part of the plan. Instead, this is about an expansive product lineup, complementary geographic strength, and “the need to take bold decisions” in electrified, autonomous and connected vehicles. Five-billion euros in annual savings isn’t bad either.

RAPTORS IN FINALS

We’ll chase perspective on the historic playoff run from the team’s management group and the Professional Basketball Franchise (Canada) Inc. founders who brought the NBA to Toronto.)  

OTHER NOTABLE STORIES

-M Partners initiated coverage of Home Capital Group today with a Buy recommendation and $25/share price target. It also reckons HCG could be an attractive takeover target.

-U.S. President Donald Trump said at a news conference in Tokyo tariffs on Chinese goods “could go up very, very substantially, very easily.” He also said, with Shinzo Abe standing next to him, the U.S. is “not ready to make a deal” with China.

-Canadian Utilities is selling its domestic fossil fuels-based generating business for $835 million.

NOTABLE RELEASES/EVENTS

-9:00 a.m. ET: Mortgage Professionals Canada hold news conference in Ottawa

-12:00 p.m. ET: Jody Wilson-Raybould makes announcement in Vancouver about her political future

-12:30 p.m. ET: Jane Philpott makes announcement in Markham-Stouffville about her political future

-5:15 p.m. ET: Alberta Premier Jason Kenney and Labour Minister Jason Copping announce proposed changes to labour laws

-Natural Resources Minister Amarjeet Sohi hosts clean energy ministerial meeting in Vancouver (runs to May 29)

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.