John Shmuel on Muck Rack

John Shmuel

Toronto, Ontario
Reporter, Financial Post — National Post

Reporter for the @financialpost, business section of the @nationalpost. Open DM's.

Canadians, Aussies and Kiwis trapped in ‘commodity bust, housing boom’ cycle and the unwinding is going to be painful — Canada is not alone in having its central bank backed into a corner, forced to warn about the dangers of high debt and hot housing markets, while powerless to change interest rates as a commodity bust weighs on the economy.

Canadian workers can forget getting a raise next year, says new poll — Don't expect a raise from your boss next year, says a new survey from Aon Hewitt. The human resources firm polled 347 Canadian companies about their salary intentions for 2016 and 2017. It found that variable pay is expected to average 15.4 per cent of payroll in 2017 - unchanged from this year.

Canada flagged for worrying levels of credit and the threat it poses to country’s banks — The Bank for International Settlements, a global banking body, is warning that Canada has one of the highest credit-to-GDP ratios in the developed world and that the "unusually" elevated level poses a risk to the country's banking system. Canada registered a gap reading of 12.1 in the first quarter of 2016, up from 11.6 during the same period last year.

Ontario has little choice but to tax foreign home buyers, CIBC economist warns — The Ontario government has little choice left but to enact a 15 per cent tax on foreign home buyers, says CIBC World Markets deputy chief economist Benjamin Tal. More than a month after the British Columbia put into effect a similar tax, Ontario has made no mention on what action it will take to cool the red hot Toronto housing market.

Concordia International Corp stock crashes 25% on proposed U.K. legislation over drug price increases — Shares in Concordia International Corp. crashed 25 per cent Friday after the United Kingdom proposed new legislation to prevent drug firms from enacting exorbitant price increases. The plunge was another setback for the Oakville, Ont.-based company, which has has lost 88 per cent of its value this year alone - to the benefit of short sellers, who have swarmed the pharmaceutical company.

Are Western nursing homes ready for Japan’s humanoid robots? — TOKYO - The fitness class at the Do Life Shinagawa nursing home begins at 10:30 a.m., drawing about two dozen eager participants - many of them pushing 70, 80 and even 90 years of age.

Stock correction is ‘far from over,’ but investors need to chill: Rosenberg — September has been a rough month for stocks and economist David Rosenberg predicts more pain is in store for investors - but that's not necessarily a bad thing. The S&P 500 is down more than two per cent for the month, while the S&P/TSX Composite Index has sunk about 1.5 per cent.

IMF head Christine Lagarde urges governments to support those who ‘suffer from globalization’ — TORONTO - The head of the International Monetary Fund says that governments need to directly support those who "suffer from globalization" amid a rising tide of protectionist sentiment around the world. Christine Lagarde, who spoke at an event hosted by The International Economic Forum of the Americas in Toronto Monday, said that the backlash against globalization represents one of the biggest threats to the global economy.

Are quiet markets gearing up for a burst of volatility? — As the CBOE Volatility Index has started to creep up in recent days, one of the market's favourite August pastimes has begun: Betting on whether September, traditionally a volatile month, will be a market roller coast. Equities and bonds have until recently experienced one of their calmest summers in decades.

Japan in transition: How Canada could become a more important trading partner with Japan — The Financial Post presents a six-part series on the tectonic economic transformation underway in Japan. Today, in part six, how new trade deals between Canada and Japan could benefit both sides.
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Sep 28, 2016

Last day to get tickets to a hot journalism event: BuzzFeed's Mark Schoofs and G&M's Tavia Grant in conversation 

Sep 19, 2016

Reminder journos: Buzzfeed's Mark Schoofs will be in Toronto next week to talk investigative journalism 

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