Forecasters: Canada
is entering recession
Canada's economy is likely in the early stages of a recession, according to forecasters, as unemployment rises and exports fall because of a trade war with the United States.
Economists surveyed by Bloomberg say output will shrink 1% on an annualized basis in the second quarter and 0.1% in the third quarter, a technical recession.
Exports are tumbling -- they will drop 7.4% on an annualized basis in the current quarter, forecasters estimate, after President Donald Trump's tariff threats caused U.S. importers to pull forward their shipments earlier in the year. But exporters should be able stage a modest recovery, starting later in the year.
The trade dispute with Canada's closest trading partner is hitting the labor market and household consumption. Economists now say unemployment will rise to 7.2% in the second half of the year before easing in 2026.
They expect inflation to run above the central bank's target, at 2.1% in the third quarter and 2.2% in the fourth.
-- Bloomberg News (WPNS)
FTC abandons block
of game maker's sale
The Republican-controlled Federal Trade Commission is abandoning a Biden-era effort to block Microsoft's purchase of "Call of Duty" video game maker Activision Blizzard.
In an order issued Thursday, the FTC said it had determined that "the public interest is best served by dismissing the administrative litigation in this case."
It was the second time in one day that the FTC pulled out of litigation begun during the Biden administration. Earlier Thursday, the FTC said it was dismissing a lawsuit against PepsiCo that was filed by the Democratic-controlled FTC in January.
Microsoft announced a $69 billion acquisition of Activision in January 2022. It's one of the most expensive tech acquisitions in history and was designed to increase sales of Microsoft's Xbox gaming console, which has lagged in sales behind consoles from rivals Sony and Nintendo.
In December 2022, the Federal Trade Commission -- then led by Democratic Chairwoman Lina Khan -- sued to temporarily block the acquisition, saying it would let Microsoft suppress competitors who want access to Xbox and its subscription content.
In July 2023, the U.S. District Court in Northern California denied the FTC's request to pause the acquisition, but the FTC appealed. Earlier this month, a federal appeals court also denied the FTC's request.
-- The Associated Press
Index down by 8.88
to end day at 834.92
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Friday at 834.92, down 8.88 points.
Shares of J.B. Hunt Transport Services fell 1%.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.