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Noah Zivitz

Managing Editor, BNN

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Global stocks are building on Wall Street’s gains a day after the Dow surged and the S&P 500 closed at an all-time high. While investors are shrugging off the storm as less fierce than feared, we’ll get context today from our CTV colleagues on how less-bad still isn’t good for residents of Florida. It’s also a better-than-expected narrative surrounding North Korea after the United Nations Security Council voted unanimously to step up sanctions, albeit not to the level the U.S. originally hoped for.

VOTE ON BERKSHIRE’S HOME CAPITAL INVESTMENT   

Investors get their say today on the second tranche of Berkshire Hathaway's investment in Home Capital Group. Under the terms of the agreement announced on June 21, Berkshire would pick up an additional 23,955,420 shares in the lender at a price of $10.30 each. Taken together with the first tranche, Berkshire would be left with a 38.39 per cent ownership stake in Home Capital. Problem is, some outspoken shareholders aren't wild about the big discount on Buffett's deal. Home Capital closed yesterday at $14.08, and it was trading at $14.94 before the deal was announced. BNN's Paul Bagnell will be location for the shareholder meeting this morning.

 

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APPLE MANIA

It's a day that's been  years in the making. A decade after Steve Jobs wrapped the world around his finger with the original iPhone unveiling, today his successor aims to live up to the hype surrounding the iPhone 8. Or iPhone X. Or whatever it's called. This is as much about marketing prowess as it is about technological innovation. The market will be the arbiter, today at least, of whether it's mission accomplished. Watch for special live analysis of the announcement with Michael Hainsworth and Jon Erlichman on BNN.ca and Twitter @BNN at 1 p.m. ET.

OTHER NOTABLE STORIES:

-The Globe and Mail is reporting the two biggest names in Canada's energy industry are banding together, again, to get the message out. Suncor CEO Steve Williams and Canadian Natural Resources Chairman Murray Edwards will apparently take part in an industry conference next month in London with the aim of winning over investors on the oil patch's environmental, social and governance standards.

-The new B.C. government is targeting surpluses just north of $200 million for the next three fiscal years, with $300-$350 million cushions built in each year. Expenses are seen climbing above $53 billion by the 2019-20 fiscal year. To help bolster the province’s revenue intake, the general corporate income tax rate goes up to 12% and those earning $150,000 in taxable income will see their income tax rate climb to 16.8 per cent. 

-Baytex Energy said late yesterday it’s standing by its full-year production forecast even after accounting for disruptions in the Eagle Ford caused by Harvey.

NOTABLE RELEASES/EVENTS

-7:30 a.m. ET: Goldman Sachs President Harvey Schwartz presents at Barclays conference

-8:15 a.m. ET: SNC-Lavalin holds investor day meeting in Montreal

-10:00 a.m. ET: Home Capital Group holds special shareholders' meeting for vote on second tranche of Berkshire Hathaway investment

-11:00 a.m. ET: Caterpillar holds investor day

-11:30 a.m. ET: Justin Trudeau holds media avail after cabinet meeting in St. John’s

-12:30 p.m. ET: Alberta Premier Rachel Notley attends opening ceremony for Japan Canada Oil Sands’ Hangingstone project

-1:00 p.m. ET: Apple to unveil products at event in Cupertino, California

-1:00 p.m. ET: University of Calgary School of Public Policy releases study: “Is Canada about to lose its competitive advantage in the oil sector?”

-2:00 p.m. ET: Conservative Party Leader Andrew Scheer delivers speech in Regina

-Hillary Clinton's "What Happened" book to be released

Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day.  Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe