Published at 08:54updated at 09:51
(Illustration: Camille Charbonneau)
NEWS ESSENTIALS
• Apple’s iPhone 15 launch clouded by China issues. Apple is expected to unveil a new iPhone 15 lineup on Tuesday as questions over Chinese market access and competition weigh on the world’s most valuable listed company.
• Smurfit Kappa and WestRock combine to create $20 billion packaging giant. Ireland’s Smurfit Kappa and its US rival WestRock have agreed to merge to create the world’s largest publicly traded paper and packaging company, worth almost $20 billion.
• Canada’s Trans Mountain pipeline could face a 9-month delay due to a route dispute. The Trans Mountain pipeline expansion could be delayed up to nine months if regulators do not approve a request for a route deviation, the Canadian government company building the project said in a regulatory filing Monday.
• The United States takes on Google in a highly anticipated antitrust trial. The United States will argue Tuesday that Google broke the rules in its effort to dominate online search, as a trial seen as a battle for the soul of the Internet opens before a federal judge in Washington.
• Oracle Falls on Strong Cloud Competition, Cerner Weakness Dents Forecast. Shares of Oracle fell, after a weak forecast suggested strong competition in the cloud computing industry and a decline in digital spending weighing on its revenue growth.
TRENDS BEFORE OPENING
Futures contracts on the main Canadian stock index remained subdued as metal prices eased and investors became cautious ahead of U.S. inflation figures that could provide clues to the Federal Reserve’s interest rate hike trajectory. US stock index futures plunged after starting the week on solid footing. European stocks were flat as losses in technology stocks offset gains in health care companies, while Germany’s largest software maker SAP fell after disappointing revenue forecasts from U.S. peer Oracle. Japanese stocks ended up almost 1%, with automakers leading the gains, the decline in yen compared to a one-week high that boosted exporter stocks and risk appetite. gold fell slightly due to a slight increase in American dollaralthough prices maintained a narrow range. Oil prices rose, driven by a tightening supply outlook.
