
Hedge Fund Picton Says Avoid Leveraged Firms With Trade Policy in Chaos
'It is pretty likely that we're going to see downward GDP revisions in Canada and the US over the coming three or four months,' he said in an interview. Corporate credit spreads have widened as yields on US Treasuries have risen, creating 'a very uncomfortable environment' for highly leveraged companies or those needing to refinance in the near future, said Phipps, who's also a portfolio manager at the Toronto-based firm.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Accord Announces Banking Facility Update
TORONTO, July 25, 2025--(BUSINESS WIRE)--Accord Financial Corp. ("Accord" or the "Company") (TSX – ACD) today announced that it has reached an agreement with its lending syndicate on a short-term extension of its main credit facility from July 26, 2025, to August 8, 2025. The Company and its lenders are in discussions relating to an amendment to the credit facility which is expected to extend the maturity date to December 2025, and the extension will provide additional time for such amendment to be finalized. About Accord Financial Financial is one of North America's most dynamic commercial finance companies providing fast, versatile financing solutions for including asset-based lending, factoring, inventory finance, equipment leasing, trade finance and film/media finance. By leveraging our unique combination of financial strength, deep experience and independent thinking, we craft winning financial solutions for small and medium-sized businesses, simply delivered, so our clients can thrive. Forward-Looking StatementsThis news release contains certain "forward-looking statements", and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management's beliefs, expectations or intentions regarding the financial position of the Company, and the extension of the Company's credit facilities. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties including the fact that there is no assurance on the ability of the Company to enter into arrangements with its lenders to further extend the maturity date of its credit facilities on reasonable terms, or at all, and the Company's overall liquidity and capital resource position and its ability to repay its debt obligations when due, and those risks identified in the Accord's periodic filings with Canadian securities regulators. See Accord's most recent annual information form and most recent management's discussion and analysis of results of operations and financial condition for a detailed discussion of the risk factors affecting Accord. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. View source version on Contacts For further information, please visit or contact: Irene EddySenior Vice President, Chief Financial OfficerAccord Financial Corp.602 - 40 Eglinton Avenue EastToronto, ON M4P 3A2(416) 961-0304ieddy@
Yahoo
24 minutes ago
- Yahoo
Rogers asks employees to work in the office full-time
TORONTO — Rogers Communications Inc. is joining a growing list of companies asking its employees to return to the office. The telecom company says it will require its corporate employees to be in the office four days a week starting in October. It says in-office days will increase to five days a week in February. There will be no changes for front-line or production teams. Rogers spokesperson Zac Carreiro says the phased approach will give workers and their families time to adjust to the changes. The telecom company isn't alone in reining in hybrid work policies. TD Bank asked its employees earlier this week to be in the office four days a week starting in the fall. Other big banks, including RBC, Scotiabank and BMO have also mandated at least four days in office starting in September, while Canaccord Genuity is reportedly moving to five. This report by The Canadian Press was first published July 25, 2025. Companies in this story: (TSX: RCI.B) The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


San Francisco Chronicle
26 minutes ago
- San Francisco Chronicle
First Capital: Q2 Earnings Snapshot
CORYDON, Ind. (AP) — CORYDON, Ind. (AP) — First Capital Inc. (FCAP) on Friday reported profit of $3.8 million in its second quarter. The Corydon, Indiana-based company said it had net income of $1.13 per share. The bank holding company posted revenue of $16.1 million in the period. Its adjusted revenue was $12.4 million. _____