We’ve got another sign of cooling price pressures south of the border. U.S. inflation came in bang in-line with expectations in December, clocking in at 6.5 per cent year-over-year. Lower gasoline prices were a major factor in the moderation, though it’s worth noting that 6.5 per cent is still more than three times the U.S. Federal Reserve’s official target rate. Speaking of the fed, we now turn our attention to its next policy decision in February to see whether Jay Powell & Co.
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
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