Tausi Insider

U.S. consumer sentiment fell in November, pulled down by persistent worries about inflation and higher borrowing costs, a survey showed on Friday. The University of Michigan’s preliminary November reading on the overall index on consumer sentiment came in at 54.7, down from 59.9 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 59.5. The survey’s reading of one-year inflation expectations edged up to 5.1 per cent from 5.0 per cent in October. The survey’s five-year inflation outlook rose to 3.0 per cent from 2.9 per cent in October. https://www.tausiinsider.com/u-s-consumer-sentiment-falls-in-november-inflation-expectations-rise/?feed_id=426210&_unique_id=649acd6a29cb9

Deal making activity slowed further in Canada during the third quarter, continuing a downtrend trend driven by rising interest rates and volatile market conditions, though experts are counting on a rebound in 2023. A total of 684 merger and acquisition transactions were announced between the start of July and the end of September, according to the latest Canadian M&A report from specialty investment bank Crosbie & Co. released Wednesday, representing the third straight quarterly decline. Transactions fell by one-third from the recent high achieved in the first quarter of 2021, when more than 1,000 deals were announced, although the latest decline in transactions was offset by several mega-deals worth more than $1-billion. Aggregate deal value increased to $63-billion in the third quarter, up 16 per cent from the second quarter, largely as a result of 14 mega-deals announced during the latest period. Fully one-third of that total came from just two transactions: refining giant...

SkipTheDishes COO Howard Migdal, who will be taking over as CEO, at the company's office in Toronto on Nov. 16. Tijana Martin/Tausi Insider Winnipeg-based SkipTheDishes is appointing Howard Migdal its new chief executive officer, as the online platform grapples with a broad-based rout in the technology sector and a staggered pullback of demand for food-delivery services among Canadians. Mr. Migdal has been chief operating officer at SkipTheDishes for nearly two years and held several senior roles before that. He is replacing Kevin Edwards as CEO, who is now retiring. Over the past four years, Mr. Edwards steered the company through oversized growth during the COVID-19 pandemic. He also launched Skip Express Lane, an online marketplace that employs microfulfilment centres for the delivery of groceries and other household items beyond restaurant services. Skip Express Lane continues to expand in the increasingly crowded e-commerce space. But in his last year at the company, Mr. Edw...

U.S. consumer sentiment improved in December amid recent gains on the stock market, while inflation expectations eased to a 15-month low, a survey showed on Friday. The University of Michigan’s preliminary December reading on the overall index of consumer sentiment came in at 59.1, up from 56.8 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 56.9. The survey’s reading of one-year inflation expectations fell to 4.6%, the lowest reading in 15 months, from 4.9% in November. Its five-year inflation outlook was unchanged at 3.0% in November. https://www.tausiinsider.com/u-s-consumer-sentiment-improves-in-december/?feed_id=329492&_unique_id=642f5678bec65

Founder and executive chairman of Alibaba Group Jack Ma attends the Ant Financial event in Hong Kong in November 2016. Bobby Yip/Reuters Ant Group said on Saturday its founder Jack Ma will no longer control the Chinese fintech giant, as the firm seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. Ant’s $37-billion IPO, which would have been the world’s largest, was cancelled at the last minute in 2020, leading to a forced restructuring of the financial technology behemoth and speculation the Chinese billionaire would have to cede control. While some analysts have said a relinquishing of control could clear the way for the company to revive its IPO, the change, however, is likely to result in a further delay due to listing regulations. China’s domestic A-share market requires companies to wait three years after a change in control to list. The wait is two years on Shanghai’s Nasdaq-style STAR marke...