Here are five things you need to know this morning.
If I’ve said this once, I’ve said it a thousand times: Don’t try to hoodwink the American eater. Or in this case, the American drinker. Starbucks is in hot water because a U.S. judge is going to allow most of a class action against the company to continue. At issue is whether Starbucks was offside by selling fruit drinks that didn’t contain any actual fruit.
This was driven mostly by gasoline prices, while food inflation cooled somewhat to 6.9 per cent in August versus 8.5 per cent in July. It is unclear whether the Bank of Canada will look past the uptick in inflation because it was driven by energy. However, the core inflation rate also picked up to 4.1 per cent. The cost of housing is also continuing to climb higher, in large part because of rising interest rates. Mortgage costs are up 30.9 per cent from last August and rent rose 6.5 per cent.
, we will watch for companies that could be brought into the fray. Bloomberg put together a list of companies with revenues form India that include Teck resources, Brookfield and Hammond Power. Others with exposure to India include First Quantum, Magna, Canadian Solar and Bombardier. We will watch fertilizers as well, Canpotex, made up of Nutrien and Mosaic, counts India as one of its largest export markets.
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