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An Australian court ordered Google to pay a former politician US$515,000. (Photo: 123RF)

NEWS ESSENTIALS

• New Canadian antitrust rules miss the mark, groups say. Waves of consolidation over the decades have reduced customer choice for their telecommunications and banking services, leaving Canadians paying the most expensive cell phone bills in the world and having to shell out more for everyday banking services, groups say. of consumer protection.

Beijing will complete its investigations on Didi, the application will be online again. Chinese regulators have completed investigations into passenger transportation giant Didi Global and two other companies and are preparing to allow their apps to return to mobile stores as early as this week, according to the Wall Street Journal.

YouTube ordered to compensate an Australian politician for defamation. An Australian court has ordered Google to pay a former politician US$515,000, finding that its refusal to remove “relentless, racist, libelous, abusive and defamatory” videos on YouTube caused him to quit politics.

Axon abandons its Taser drone project, criticized by its ethics committee. Axon Enterprise, the maker of taser guns, announced on Sunday that it was halting work on a project to equip drones with stun guns to respond to shootings, a prospect that a member of its advisory board said. ethics in AI, would have caused the resignation of several who sit there.

(Re)read all market news

TRENDS BEFORE OPENING

Futures for Canada’s main stock index are ahead as oil prices hit US$120 a barrel after Saudi Arabia raised prices for crude in July.

Wall Street futures are up after the release of a report from Chinese regulators ending a year-long investigation into Didi Global, pushing the company’s stock and others higher Chinese securities listed in New York.

European stocks are ahead, benefiting from the banking and commodity sectors, as investors await the outcome of the European Central Bank meeting this week.

The Japanese Nikkei ended the session in positive territory, helped by the energy sector. Gold prices are up slightly, benefiting from a slight decline in the US dollar and US bonds.

TITLES TO FOLLOW

• Air Canada: the airline expects demand for flights between Canada and the Asia-Pacific to recover to near pre-pandemic levels by December, it said on Saturday a regional leader. Kiyo Weiss, Air Canada’s commercial director for Asia-Pacific, recalled that routes between Canada and Asia-Pacific are operating at 30% of 2019 capacity, but that capacity is expected to double by the end of the year. end December. The airline is also planning to add flights to a new destination in Asia-Pacific in the near future to meet pent-up demand for leisure travel, it added. “We’ll probably make a decision within a month or so,” Weiss said, without giving further details. Canada’s largest carrier is looking to increase its presence in the region to meet strong demand, especially in Southeast Asian countries, as the region recovers from the pandemic.

• Rogers Communications and Shaw Communications: Rogers on Friday asked a court to overturn Canada’s Competition Bureau’s rejection of its C$20 billion purchase of Shaw Communications, arguing that the merger would create more competition rather than limit it. Calling opposition to the deal “unreasonable,” Rogers said the Bureau failed to quantify why the proposed merger with Shaw would lessen competition. She added that any alleged effect on competition was outweighed by the “significant efficiencies the transaction will generate”. In a 19-page court filing, Rogers responds to the Bureau’s refusal to accept Freedom Mobile’s divestiture as a merger remedy. She asked the court to reject the bureau’s request to block the transaction.

RECOMMENDATIONS

• BRP: Scotiabank cut its price target from C$133 to C$126 as the company maintained its full-year 2023 targets, implying lower expectations for the second quarter.

MAIN INDICATORS ON THE AGENDA

No major indicators expected today

MAIN INDICATORS ON THE AGENDA

0830 (approximately) Building permit, var. lie. (April): consensus 0.7%; previous -9.3%

PUBLICATIONS OF RESULTS

June 2

Canaccord Genuity Group Inc Expects Q4 Earnings Per Share of CA$0.45

June 3

BRP Inc: C$1.13 earnings per share forecast for Q1

CORPORATE AGENDA

1000 European Residential REIT: annual general meeting of shareholders

1100 Moneta Gold Inc: Annual General Meeting of Shareholders

1300 Galiano Gold Inc: annual general meeting of shareholders

1400 Kelso Technologies Inc: Annual General Meeting of Shareholders

1600 Algonquin Power & Utilities Corp: Annual General Meeting of Shareholders

COUPON SECONDMENTS

Lundin Mining Corp: C$0.09 amount

Molson Coors Canada Inc: amount of C$0.48

Open Text Corp: amount of US$0.22

Suncor Energy Inc: amount of C$0.47

PUBLICATIONS OF RESULTS

June 6

No publication of major results is expected today.

June 7

Engineering Systems Q2 earnings per share forecast of CA$0.38

Stingray GroupQ4 earnings per share forecast of C$0.19

CORPORATE AGENDA

12:00 NXT Energy Solutions : annual general meeting of shareholders

COUPON SECONDMENTS

Computer Modeling Group: amount of C$0.05

All analyst forecasts are based on I/B/E/S data from Refinitiv.

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