Latest news with #Schleich
Bloomberg
15-07-2025
- Business
- Bloomberg
Partners Group Is in Talks to Hand Smurf Toymaker to Creditors
By and Arno Schuetze Save Partners Group -owned Schleich is discussing a debt restructuring that could see the private equity firm hand over the keys of the German toy company to its creditors, people with knowledge of the matter said. The firm's lenders, including credit firms Investec and H.I.G., are offering to inject €5 million ($5.8 million) of fresh capital to address its immediate liquidity needs, they said. Blackstone Inc. is also involved in the talks as it's managing some loans for other institutions, some of the people said.
Yahoo
28-02-2025
- Business
- Yahoo
Posthaste: Don't count Bank of Canada rate cut in March out just yet
The Bank of Canada faces an especially tough decision when the Governing Council meets on March 12. Not only are U.S. President Donald Trump's tariff threats hanging over the economy, but recent data have suggested that the economy — and inflation — are picking up speed. After a stronger than expected consumer price index reading for January, Canada's unemployment rate dropped for the second month in a row when job growth tripled expectations. Three weeks ago markets had fully priced in a 25-basis-point cut for March 12, but since then the odds have shrunk to 25 per cent. Not all economists, however, agree with the market's assessment. 'Naturally, these developments leave forecasts for a 25 bp cut next month on shakier footing but there are still some compelling reasons to expect a cut,' said National Bank of Canada economist Taylor Schleich in a report entitled 'An increasingly contrarian take …' Schleich points to the Bank of Canada's last monetary policy report just three weeks ago, when it said that there were no signs that inflationary pressures were broad-based and even suggested that its preferred indicators were sending a false signal. The bank also indicated in that report that the jobs market remained soft and members would have to see jobs gains outpacing labour force growth for a longer period to be convinced it was on solid footing. Schleich has his doubts that January's 76,000 job gains will change the bank's mind, when other indicators are showing a different picture. Hiring intentions are still below historical averages, the job vacancy rate is at a seven-year low and the Survey of Employment, Payrolls and Hours is signalling the opposite of what the Labour Force Survey suggests, he said. 'To be clear, we don't think recent inflation/jobs data strengthen the case to cut but we'd argue they aren't as much of a barrier as markets are implying,' said Schleich. Economic slack remains in Canada, and the geopolitical uncertainty now circling the globe could widen that gap, he said. Whether Trump's tariff threats become reality remains to be seen, but the threats themselves are already having an effect, and according to a Bloomberg survey, economists are trimming their growth forecasts because of it. They now see the economy growing by 1.6 per cent in 2025, down from a forecast of 1.8 per cent in last month's survey. The forecast for growth for 2026 is now 1.7 per cent, down from 1.9 per cent. The Bank of Canada's own Business Outlook Survey found some companies are holding back on investment because of the trade uncertainty, said Schleich, and a survey by the Canadian Federation of Independent Business found that a fifth of firms were cancelling or delaying plans to expand. The uncertainty is also weighing on consumers, he said. Last week the Canadian Real Estate Association said a potential trade war with the U.S. was likely the reason home sales slumped in the last week of January. 'The timing of that change in demand leaves little doubt as to the cause — uncertainty around tariffs,' said CREA senior economist Shaun Cathcart. All of this builds a case for an 'insurance cut' from the Bank of Canada which would cushion the blow from tariff uncertainty or tariffs themselves, said Schleich. The day the Bank of Canada makes its decision Trump's tariffs on steel and aluminum are due to go into effect and by then there should be some clarity on his border-related tariffs (25-per-cent on all goods from Canada and Mexico). Schleich said if more evidence emerges that economic growth and inflation are accelerating the central bank will have to change its tone, 'but for now, the BoC leans dovish, likely to err on the side of accommodation under uncertainty,' he said. 'We're not convinced recent data have completely upended that, especially since uncertainty may snuff out any nascent economic recovery.' to get Posthaste delivered straight to your Trump studies the United States' trade deficit with other nations, economists in Canada hope that this country will be revealed as a vital partner to the U.S. economy. National Bank of Canada points out that 66 per cent of Canadian exports to the U.S. are actually intermediate inputs in American production, with only 34 per cent of imported goods from Canada intended for final consumption, according to an analysis by the Federal Reserve Bank of San Francisco. As today's chart shows that is far more the 45 per cent average for other U.S. trading partners. 'Rather than taking market share to win the favour of American consumers, Canadian companies are therefore partners to American companies that produce locally,' said economists Matthieu Arseneau and Stéfane Marion. 'There is a good chance that these firms are already making this point to the American president, who would benefit from recognizing the special nature of his country's relationship with Canada.' Bank of Canada deputy governor Toni Gravelle will speak at the Bank of England research conference in London on managing the central bank's balance sheet during quantitative tightening Canadian taxpayers can start filing 2024 returns online Earnings: CI Financial Corp., GFL Environmental Inc., Spin Master Corp., Domino's Pizza Inc. 'Northern Leg' to B.C. coast could be built off existing Trans Mountain pipeline, sources say Terence Corcoran: Not the 51st state, but maybe a 'North American Superstate'? Howard Levitt: Should Canada replicate Elon Musk's DOGE efforts in the U.S.? Young people in Canada are underusing tax-free savings accounts (TFSAs), even though more than half of the nation's adult population (17.8 million people) has one, according to the latest numbers from Statistics Canada — and it likely comes down to confusion. Tara Lalehparvar is co-chief executive officer of Vancouver-based Skyward Financial, a financial literacy and advisory practice geared toward generation Z and younger millennial investors, and she hears a lot of TFSA misinformation from clients, she said. Find out more about how TFSAs can contribute to a long-term savings strategy. Calling Canadian families with younger kids or teens: Whether it's budgeting, spending, investing, paying off debt, or just paying the bills, does your family have any financial resolutions for the coming year? Let us know at wealth@ Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Weaker Canadian dollar fuels made-in-Canada backlash How many skipped vacations does it take for a down payment? Sign in to access your portfolio
New York Times
28-02-2025
- Entertainment
- New York Times
No One Needs This Beaded Turkey Pillow. But a Lot of People Might Love One.
In this edition of The Gift, our gifts editor shares a few animal-themed presents that make her swoon. Plus: a chic hair pin and what to get a too-online kid. I play a lot of important roles in my family, but perhaps my most consistent is enthusiastic group-chat participant and cheerleader. That is, unless my sister sends a picture of a backyard fox or a sunning vacation iguana. Then I'm at a loss for words. What's one to say? Heart emoji? Thumbs up? Eyes welled with tears? Suffice it to say, I'm not a major wild animal person. Animal-themed items, however, are a different story. After receiving my first grown-up paycheck, I went straight to a Brooklyn boutique and splurged on a silk dress screenprinted with an elegant penguin family. (Oh, to be young.) And I was recently reminded of that sartorial stretch when my colleague, head of social Julia Bush, shared this sinuous, understated, and affordable swan bag—one of the best gifts Wirecutter journalists received last year. As a gifts editor, I'm always on the hunt for fish and fowl, bird and beast to surprise and delight. A few of my best catches: This ceramic pitcher shaped like a fish sounds like a lovely babbling brook when you pour from it. (The mini version is great, too.) It comes in a dozen colors—I got my mom a coral one years ago that she still treasures, even after downsizing into a senior-living apartment. Another aquatic delight: these mama fish dishes, which are great for holding salty snacks, candies, or jewelry. Equally as charming? The baby ones. My colleague and fellow gifts expert Mari Uyehara introduced me to these handmade, lampworked glass animal tumblers. I'm particularly partial to the mallard duck, which I'd like to fill with lemonade and sip on a dock this summer, with my hair twisted up in this birdie hair clip. Animal embroidery is a sub-genre of my infatuation. This chickadee hat is so detailed; I love the beach birds one, too. And while they're technically sold as cards, these cheeky predators and honey bear prints are truly works of art. I framed the one a friend sent me nearly a decade ago and it still hangs, vibrant and eye-catching, in my son's bedroom. This brings me to animal gifts for the kids. There's no better tribute to charming critter personalities than Our Animal Friends at Maple Hill Farm, a beloved picture book I've gifted many times over. I also love giving this Calico Critters hedgehog family to dollhouse kiddos, and Schleich animals to future zoologists who are sticklers for realism. And kids of almost any age would go wild for this jellyfish LED table lamp. As for my own love of animals: Well, a funny thing happens as life rolls on—our hard edges soften, whether we like it or not. This summer, a wild turkey roosted on our garage in Portland, Maine. A lone wild turkey! In my little city! This time it was me blowing up the group chat. (Speaking of: I'm on the eBay hunt for one of these beaded turkey pillows, which are harder to find than the actual birds!) A pretty loop of steel helped me get my hair groove back. I've been gifting Estelle's champagne flutes in colorful glass for years. They're perfect for any occasion. Crest 3D Whitestrips are easy to use and effective. I need help finding a present for a 12-year-old boy who loves screens and tech too much. What's a good non-screen, touch-grass kind of gift? — C. P. From gifting expert Samantha Schoech: With a few exceptions, this describes most 12-year-old boys. As well as kids and teens of many other ages. (It certainly describes my own 18-year-old son.) And since screens aren't going anywhere, all we can aim for is balancing out the tech time with a few non-digital interests. One of the things my son loved at that age was audiobooks. The Harry Potter series, wonderfully narrated by Jim Dale, is something he still listens to when doing chores. A good story, combined with something to keep the hands busy could keep him going for hours with nary a screen. Some ideas: Legos (they may even make themed sets for his favorite video game), a 3D pen, or simply a good pad of paper and colored pens. If you're after the outdoors, or at least a little physical activity, we had great success with a diabolo set in middle school, skateboards (still going strong), and a RipStik—which was a bit of a flash in the pan, but fun while it lasted. And finally, if you think he might like to cook (could he be in charge of dinner once a week?), this cookbook designed for young chefs comes highly recommended by Wirecutter's kids team. Our present-hunters are here to answer your questions. By completing this form, you agree that we may add your address to our list for the newsletter The Gift. What I Cover Hannah Morrill is an editor on Wirecutter's style team, spearheading the gifts and beauty sections. For the past decade, she has worked as a freelance writer and editor for publications such as Allure, Elle, and InStyle, among others. She lives in Portland, Maine, with her partner and their two children.
Yahoo
21-02-2025
- Business
- Yahoo
'Compelling reasons' remain for a Bank of Canada cut in March: National Bank
There are 'compelling reasons' to expect another Bank of Canada (BoC) interest rate cut in March, in spite of recent economic data that have led the market to lean against it, a National Bank of Canada economist says. In a note that labels itself 'an increasingly contrarian take,' economist Taylor Schleich writes that various signals from the BoC suggest that it might not be swayed by delayed U.S. tariffs, strong January jobs figures and hotter-than-expected inflation numbers. 'Simply put, there remains a case for an 'insurance cut', allowing policymakers to cushion the blow of tariff uncertainty and potentially, tariffs themselves,' he wrote. Schleich notes that market odds for a March cut are now less than one-in-three, a sharp shift from three weeks ago when a cut 'was fully priced.' The once-high expectations for another cut began to decline when U.S. President Donald Trump and Prime Minister Justin Trudeau agreed in early February to an 11th-hour pause on tariffs. Then, days later, data on January jobs exceeded analysts' expectations. And earlier this week, Consumer Price Index data for January showed inflation edging up on various measures. But there are hints in recent BoC communications that those factors might not carry as much weight, Schleich writes. On inflation, Schleich says, the BoC understood that the government's tax holiday made December's headline inflation numbers look cooler than they were. But the Bank's latest Monetary Policy Report (MPR), released alongside the January rate-cut announcement, featured 'no warnings about upward underlying pressures,' he writes. 'The Bank even implied that its 'preferred' inflation indicators (which were/are hotter) were sending a false signal,' Schleich said. The MPR suggests the Bank has focused more on inflation breadth, Schleich says — a measure of how pervasive inflation is across different categories — and that has remained under control. On jobs, the summary of the BoC's deliberations ahead of the January rate cut suggests the Bank hasn't been moved by a strong run of Labour Force Survey (LFS) data, Schleich says, citing a passage in the deliberations that notes 'according to multiple indicators, the job market remained soft...' Those indicators, the National Bank document says, include business hiring intentions, which are 'below historical averages' and the Survey of Employment, Payrolls and Hours — a different measure of employment — which 'is signalling the opposite of what the LFS is.' Canada's job vacancy rate, furthermore, is at 'a seven-year low,' Schleich says. "To be clear, we don't think recent inflation/jobs data strengthen the case to cut but we'd argue they aren't as much of a barrier as markets are implying," he wrote. "That's because economic slack remains in Canada, and it may grow further as geopolitical uncertainty weighs." Finally, despite the reprieve on tariffs, Schleich writes that 'the threats alone are impactful,' pointing to business surveys showing some companies beginning to delay, reduce or cancel various plans and investments. And he points to the latest Canadian Real Estate Association data, which show lower activity suggestive of 'uncertainty over the potential for a trade war with the U.S.' Nonetheless, Schleich acknowledges that if any meaningful signs of strong growth or spiking inflation do emerge ahead of the next BoC rate announcement on March 12, 'the Bank's bias/tone will have to change.' 'But for now, the BoC leans dovish, likely to err on the side of accommodation under uncertainty,' he wrote. 'We're not convinced recent data have completely upended that, especially since uncertainty may snuff out any nascent economic recovery.' John MacFarlane is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jmacf. Download the Yahoo Finance app, available for Apple and Android. Sign in to access your portfolio
