Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

West Texas Intermediate oil climbed above US$58 per barrel in early trading amid geopolitical tension after U.S. President Donald Trump said he plans to announce “major additional Sanctions” on Iran. Andy will tee up the announcement and implications for the oil market.

STOCKS DRIFT AHEAD OF G20

European stocks and U.S. futures are little changed ahead of this week's main event in geopolitical tension: Trump’s meeting with China President Xi Jinping at the G20 summit in Osaka, Japan. A China foreign ministry official made it clear Beijing doesn’t want Trump’s input on unrest in Hong Kong. “We do not allow any country or any individual to interfere in China’s internal affairs in any way,” Zhang Jun is quoted as saying today. This forces us to consider if China will similarly resist any attempt by Trump to speak out on behalf of Canadian detainees.

IN CONVERSATION WITH ONTARIO’S NEW FINANCE MINISTER

The Open speaks with Rod Phillips today, less than a week after he was handed Ontario’s finance portfolio by Premier Doug Ford. We look forward to discussing the province’s fiscal outlook (perhaps with a nod to how cannabis factors into it) and the government’s open for business mantra.

OTHER NOTABLE STORIES

- Bitcoin has been up as much as 13 per cent today, breaking above US$11,000 in the process, in the cryptocurrency’s fourth straight day of gains.

- That didn’t last long: Tom Woods is leaving Hydro One’s board of directors at the end of next month. He became chair last August after the boardroom was overhauled around the same time CEO Mayo Schmidt exited amid political pressure.

- Shares of Caesars Entertainment are surging in pre-market trading after the debt-laden gambling giant agreed to a cash-and-stock takeover by Eldorado Resorts worth almost US$8.6 billion (or US$17.3 billion with debt).

- Canadian Utilities Ltd. is selling its stake in the Alberta PowerLine (which services Fort McMurray) for $300 million.

NOTABLE RELEASES/EVENTS

- 12 p.m. ET: Immigration Minister Ahmed Hussen delivers speech ("Attracting Global Talent") in Toronto (1200)

- 12 p.m. ET: Bill Gates addresses Economic Club of Washington, D.C.

- 3 p.m. ET: U.S. President Donald Trump signs executive order “Improving Price and Quality Transparency in Healthcare”