Walmart takes aim at Amazon and Costco with new membership program — but is it a good deal?

Super Micro unexpectedly disclosed that its revenue and profitability could be much stronger than originally anticipated.

Special committees at both companies are assessing merger prospects but a combination is no sure thing, Musk says.

Bank of Montreal’s BMO-T U. S. head, Darrel Hackett, is leaving his role as the lender bets on reviving its operations in the country to bolster its profitability. Mr. Hackett, who has spent more than 22 years at BMO, will take on the role of executive vice-chair and senior adviser as of Nov. 1. BMO tapped its U. S. general counsel, Tim Cox, as its new U. S. country head and CEO of its U. S. subsidiaries, effective Nov. 1. He is also a member of the bank’s U. S. management committee and chairs its U. S. regulatory committee. In March, BMO told investors that its U. S. division’s return on equity – a closely watched measure of profitability – has underperformed expectations, and that the bank will continue to revive the business to bolster growth. “Darrel has played a central role in advancing our North American growth strategy and helping build the U. S. business we have today,” BMO chief executive officer Darryl White said in a statement. Prior to his role as U. S. general counsel, Mr. Cox held other roles at the bank, including chief regulatory officer, managing director and U. S. chief security officer.

Open this photo in gallery:Satellite antennas at the Telesat facility in Allan Park, Ont., in 2019. The company, which started out as a Crown corporation before becoming a private entity in the 90s, operates communications satellites. The Globe and MailLenders to Ottawa-based Telesat Corp. TSAT-T have proposed a new recapitalization plan ahead of a looming debt-repayment deadline that the satellite operator is at risk of missing. Telesat, which is building a constellation of low-Earth-orbit satellites dubbed Lightspeed, has approximately US$1.71-billion in debt coming due Dec. 6, with another US$438-million of debt maturing in 2027. The debt was issued by a subsidiary of the company called Telesat Canada and is tied to the company’s fleet of geostationary satellites, an older business division that is in decline. Telesat has said in financial filings that its cash flow is insufficient to meet all of its debt obligations. The lenders – including Silver Point Capital, GoldenTree Asset Management and Sound Point Capital Management – recently put forward a second proposal to the company, according to a source familiar with the situation.

Utah Attorney General Derek Brown announced a lawsuit against Kalshi, its affiliates and two Susquehanna trading companies, alleging that the prediction markets platform had been facilitating illegal betting in the US state since 2024. In a Tuesday press briefing, Brown said Utah officials had petitioned a court to compel the companies to return about $30 million to $60 million in profits they made through allegedly illegal event contracts. The Utah attorney general alleged that Kalshi illegally offered its services to more than 32,000 users in the state, resulting in significant losses. “Under Utah law, I have determined that this operation is causing a significant and substantial ongoing harm to a significant number of Utahns,” said Brown. “And so today, we are asking the court to stop sports, elections, politics, culture and mention bets here in Utah.” Kalshi sued Utah in February after lawmakers passed a bill on betting on prediction markets as gambling under state law. In August, a judge ruled in favor of Utah officials, saying federal laws under the US Commodity Futures Trading Commission (CFTC) do not preempt state gambling laws.

SummaryThe U. S. Commodity Futures Trading Commission released the agenda for its first "Frontier Forum" event next week, hosted by the agency's Innovation Task Force. The October 28 event will invite leaders in the artificial intelligence space to discuss how AI may shift how the U. S. derivatives markets operate. The potential effects of artificial intelligence in the derivatives markets will be in focus at the U. S. Commodity Futures Trading Commission's first in a new series of meetings hosted by its Innovation Task Force on October 28. Using President Donald Trump's favored "super intelligence" descriptor, the agenda released on Tuesday marks the opening outing of what the regulator is calling its "Frontier Forum" series. It begins with a look at how derivatives markets may respond to the influx of machine intelligence and how the technology may impact price discovery and risk management. "Super intelligence is poised to transform our financial markets,” said CFTC Chairman Mike Selig in a statement. The task force said the event will hear from leaders in the space, including the heads of firms such as Ornn, Architect and Liquid Compute.