We're poised to get the latest read on price pressures south of the border a little later this morning. Expectations are that U.S. inflationto a 6.5 per cent pace year-over-year in December, a slowdown from 7.1 per cent a month before – albeit still running at more than three times the U.S. Federal Reserve's target rate. On that note – this is the last CPI report the Fed will get before its next rate decision on Feb.
Sticking with the sector, Canfor Pulp is planning to permanently close the pulp line at its Prince George mill, which will reduce output of 280,000 tonnes of pulp annually and result in about 300 job cuts. Algonquin Power is taking a scalpel to its dividend, lowering its quarterly payout to $0.1085 from $0.1808 in a move it says will improve financial flexibility.
Ubisoft – the company behind the Assassin's Creed video game franchise – is cutting its forecast amid some disappointing uptake of its new games titles. Shares fell as much as 20 per cent in France in early trading. Subway is reportedly exploring a potential sale that would value the sub-shop at as much as US$10 billion. Our Bloomberg partners are reporting the process is in its early stages and that there's no guarantee a sale will eventually go through.Notable earnings: Cogeco Inc., Rocky Mountain Chocolate Factory