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TSX Slumps as Central Banks Hold Steady

  Canada’s Main Index Suffers Sharpest Drop Since May The Toronto Stock Exchange’s S&P/TSX composite index fell 169.92 points, or 0.6%, to close at 27,369.96 on Wednesday, marking its steepest single-day decline in ten weeks. The drop followed a record high the previous day, underscoring investor unease as both the U.S. Federal Reserve and the Bank of Canada opted to keep interest rates unchanged. The materials sector led the retreat, sliding 2.1% amid tumbling copper and gold prices. Financials and technology also posted losses, down 0.6% and 0.5% respectively, as eight of the index’s ten major sectors ended in the red. Market sentiment soured after the Fed’s decision to hold rates steady offered no clear timeline for future cuts, disappointing investors hoping for dovish signals. Meanwhile, the Bank of Canada maintained its benchmark rate at 2.75% for the third consecutive meeting, citing reduced risks of a global trade war. Among individual stocks, Capital Power Corp sa...
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Hudson’s Bay Rebrands as Court Approves Lease Sale to B.C. Retail Visionary

In a landmark decision, Ontario’s Superior Court has approved the sale of three former Hudson’s Bay leases to B.C. billionaire Ruby Liu, marking a pivotal moment in the transformation of Canada’s oldest department store chain.

Liu, who owns the malls where the properties are located—Tsawwassen Mills, Mayfair Shopping Centre, and Woodgrove Centre—will pay $6 million for the trio of leases. She plans to launch a new chain of department stores under her own name, offering a mix of fashion, beauty, dining, and family-friendly entertainment.

The court also greenlit a name change for Hudson’s Bay Company, a move prompted by Canadian Tire’s $30 million acquisition of the Bay’s intellectual property. The rebranding is intended to avoid confusion as the company winds down operations following its bankruptcy filing in March.

While Liu’s vision has sparked excitement, it’s also met resistance. Landlords representing 23 of the 25 additional leases Liu hopes to acquire have raised concerns over the lack of transparency in her business plan. Despite the opposition, Liu remains optimistic, stating she’s confident landlords will come around once her plans are fully revealed.

The sale and rebranding mark the end of an era for Hudson’s Bay and the beginning of a bold new chapter in Canadian retail.

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