Board of Trade President calls for simpler rules, competitive tax code to boost business
Toronto Region Board of Trade's Giles Gherson weighs in on Trump's tariff warning, industry concerns, and what comes next.
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Globe and Mail
29 minutes ago
- Globe and Mail
JPM Mulls Over Monetizing Client Data: Will it Alter Fintech Business?
JPMorgan JPM has informed fintech firms that it will begin charging fees to access their clients' bank account details. This will likely amount to hundreds of millions of dollars in revenues for the company. This was reported by Bloomberg, citing people familiar with the matter. The bank has sent updated pricing sheets to data aggregators that facilitate the connection between banks and fintechs like PayPal Holdings Inc. 's PYPL Venmo, Coinbase Global Inc. COIN and Robinhood Markets, Inc. HOOD. The charges will differ based on how the data is used, with higher fees for payments-focused firms. The fees, which could be implemented later this year, depending on the outcome of a Biden-era regulation, are not yet final and could be negotiated. These charges would substantially reshape the business for fintech firms, including PayPal, Coinbase and Robinhood, which primarily rely on their access to customers' bank accounts and were able to access the same for free. The fees could be passed from data aggregators to fintech firms like PayPal, Coinbase and Robinhood, which would ultimately pass them on to consumers. Lower-income customers will be harmed by restricted access to these platforms, given higher fees. In some cases, JPMorgan's proposed fees would exceed the revenues certain companies earn from a single transaction by up to 10 times. JPMorgan is introducing data access fees to monetize client data, curb excessive third-party usage, and regain control amid regulatory uncertainty over open banking rules. 'We've had productive conversations and are working with the entire ecosystem to ensure we're all making the necessary investments in the infrastructure that keeps our customers safe,' a spokesperson for JPMorgan stated. JPMorgan's Price Performance, Valuation and Estimates JPMorgan shares have soared 19.7% this year, outperforming the S&P 500's gain of 5.9%. From a valuation standpoint, JPM trades at a 12-month trailing price-to-tangible book (P/TB) of 3.04X, above the industry average. The Zacks Consensus Estimate for JPMorgan's 2025 earnings implies a decline of 5.6% on a year-over-year basis, while 2026 earnings are expected to grow at a rate of 5.9%. In the past week, earnings estimates for 2025 and 2026 have been revised upward. JPM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include Stock #1: A Disruptive Force with Notable Growth and Resilience Stock #2: Bullish Signs Signaling to Buy the Dip Stock #3: One of the Most Compelling Investments in the Market Stock #4: Leader In a Red-Hot Industry Poised for Growth Stock #5: Modern Omni-Channel Platform Coiled to Spring Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%. Download Atomic Opportunity: Nuclear Energy's Comeback free today. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report PayPal Holdings, Inc. (PYPL): Free Stock Analysis Report Coinbase Global, Inc. (COIN): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report
National Post
34 minutes ago
- National Post
NASCAR teams 23XI and Front Row seek urgent court order to retain charters
The two race teams suing NASCAR over antitrust allegations filed for a temporary restraining order and preliminary injunction Monday to be recognized as chartered organizations for the remainder of 2025. Article content 23XI Racing and Front Row Motorsports are locked in a lengthy legal battle over the charter system, which is the equivalent of the franchise model in other sports. 23XI, owned by retired NBA great Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row, owned by entrepreneur Bob Jenkins, last September rejected NASCAR's final proposal on extensions and instead filed an antitrust suit. Article content The case is winding its way through the court system but now with urgency: the teams were set to lose their charters Wednesday and in the latest filing, they allege NASCAR has indicated it will immediately begin the process of selling the six tags that guarantee entry into every race as well as monetary rewards and other benefits. Article content After the filing NASCAR was ordered to respond by 5 p.m. Wednesday — which means there would be no ruling on if the charters will be revoked likely until Thursday, at the earliest. Article content 'Today we filed a motion in the district court for a renewed preliminary injunction and temporary restraining order to protect the teams' ability to race chartered for the remainder of the 2025 Cup Series season and prevent irreparable business harm to 23XI and Front Row Motorsports until we can present our case at trial in December,' said Jeffery Kessler, attorney for the teams. Article content 'New information surfaced through the discovery process that overwhelmingly supports our position that a preliminary injunction is legally warranted and necessary. The teams' love of stock car racing and belief in a better future for the sport for all parties _ teams, drivers, employees, sponsors, and fans — continues to motivate their efforts to pursue this antitrust case.' Article content Article content There were large portions of the filing redacted because the arguments are based on information learned through discovery, making it confidential, for now. But, the urgency is likely tied to NASCAR indicating it plans to immediately begin selling the charters if they are revoked. Article content Should the teams have their six combined charters revoked, the drivers would have to qualify on speed to make each week's race and would receive a smaller percentage of the purse. They may also have to refund money paid out through the first 20 races of the year. Article content NASCAR accused 23XI and Front Row of filing 'a third motion for another unnecessary and inappropriate preliminary injunction' and noted it has made multiple requests to the teams 'to present a proposal to resolve this litigation.' Article content 'We have yet to receive a proposal from 23XI or Front Row, as they have instead preferred to continue their damaging and distracting lawsuit,' NASCAR said in a statement. 'We will defend NASCAR's integrity from this baseless lawsuit forced upon the sport that threatens to divide the stakeholders committed to serving race fans everywhere.
Globe and Mail
36 minutes ago
- Globe and Mail
John Kralik Champions Smarter, Community-Focused Development in California
Seasoned Real Estate Developer Urges Homeowners and Builders to Rethink Trends, Prioritize Function, and Show Up Real estate developer John Kralik is using his recent interview spotlight to speak up about an issue close to home—how we build, what we build, and why it matters. With over 15 years of experience flipping and developing properties across Southern California, Kralik is encouraging builders, homeowners, and investors to shift their focus from trendy designs to practical, lasting spaces that serve real families and neighborhoods. 'Not every trend is right for every community,' said Kralik. 'I've built open-concept homes that sat too long because the neighborhood didn't want them. Families want what works, not what's viral.' This perspective is grounded in firsthand experience. Early in his career, Kralik misread a market and renovated a home in a beach style that clashed with the inland neighborhood. The home struggled to sell. The takeaway? Know your audience before you build. It's not just about flipping houses—it's about restoring purpose. A Call for Function and Accountability In the interview, Kralik emphasized the importance of practical design over aesthetics. He advocates for starting with function and letting the beauty follow. He also urges developers to be physically present on-site during construction. 'You'll never catch crooked tile over email,' he said. 'Being there matters.' This practice, he explains, has helped him avoid expensive mistakes and build stronger relationships with contractors. Kralik is even exploring tech-based solutions to improve community relations, like a mobile app that updates neighbors about renovation schedules and disruptions—a common point of tension in tight-knit neighborhoods. Why This Matters Now California is currently facing a housing shortage, with the state needing to build 2.5 million homes by 2030 to meet demand (California Department of Housing and Community Development). But rapid development often sacrifices quality and community trust in favor of speed and scale. Kralik believes we can do better. 'Sometimes, the best thing you can build is trust,' he said. 'Everything else follows from that.' Practical Habits That Make a Difference Kralik attributes his productivity to simple, grounded habits. Every morning, he writes down one thing he's grateful for—a practice influenced by his father's book 365 Thank You's. He also takes regular walks without technology when he feels overwhelmed. 'No phone, no music—just quiet. It resets everything,' he said. His favorite piece of software? Trello. It's how he tracks dozens of active projects, from permits to finishings, and ensures nothing falls through the cracks. What You Can Do John Kralik isn't pushing a product—he's encouraging reflection. His message is simple and clear: Homeowners: Build for your life, not just your listing price. Builders and developers: Know your market and visit your worksites. Community members: Ask questions, stay involved, and speak up about what matters to your neighborhood. 'It's not about building more. It's about building better,' said Kralik. 'That starts with paying attention.' To read more, visit the website here. About John Kralik: John Kralik is a real estate developer based in Newport Beach, California. With more than 15 years of experience revitalizing distressed properties and building community-friendly housing, he is known for his thoughtful, hands-on approach. He lives with his wife Alexis and their two children, and is an active member of Our Lady Queen of Angels Church. Contact: info@ Media Contact Company Name: John Kralik JKV Contact Person: John Kralik Email: Send Email Country: United States Website:
