Business News Today

Silver Lake In Talks To Acquire Workday

Workday stock climbed nearly 18% after reports that private equity firm Silver Lake is in talks to buy the human resources software maker. Shares were halted multiple times in late afternoon trading and the company’s market value closed at nearly $51 billion.

The discussions have been ongoing in recent months, according to Reuters, who cited multiple sources close to the negotiations.

Workday and Silver Lake have not responded to several media requests.

If the acquisition happens, analysts believe Workday will begin an aggressive transformation using AI.

Mortgage Rates Dip For First Time In Weeks

The average long-term U.S. mortgage rate fell slightly for the first time in six weeks on Thursday, marking a glimpse of relief for prospective homebuyers — although borrowing costs remain steeper than they were a year ago.

The benchmark 30-year fixed rate mortgage rate tumbled to 6.67%, mortgage buyer Freddie Mac said Thursday, down from slightly from the 6.69% reported last week. By comparison, the average rate was 6.58% at this time in 2025.

Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power. And that can led prospective home shoppers to delay buying, as seen while rates rose over prior weeks. U.S. sales of previously-occupied homes dipped in July.

Borrowing costs on 15-year fixed-rate mortgages — which are often sought by borrowers looking to refinance a home loan — also fell slightly this week. That rate averaged at 5.96%, down from 6.01% last week. But that’s still higher than a year ago, when Freddie Mac said 15-year fixed-rate mortgages averaged at 5.71%.

Air Canada Beats Earnings Estimates, Raises Forecast

MONTRÉAL –  (GLOBE NEWSWIRE) — Air Canada today reported its second quarter 2026 financial results and provided updated full-year 2026 financial guidance.

“Air Canada delivered record second-quarter operating revenues, up 11 per cent year over year, supported by strong demand across our network, including continued strength in premium and corporate travel, as well as Sixth Freedom traffic. Capacity increased 0.3 per cent year over year, 0.2 percentage points below the lower end of our second quarter guidance mainly due to weather-related disruptions that negatively affected flight completion rates in the latter part of the quarter. Adjusted EBITDA reached $719 million, at the top end of our second quarter guidance range, despite a 49 per cent year-over-year increase in fuel expense. The performance in the quarter reflected the benefits of our diversified sources of revenue, the effectiveness of our pricing actions, and our continued focus on controllable cost execution. It especially underscores the dedication and professionalism of our employees, whom I thank for their unwavering commitment to serving our customers with excellence,” said Michael Rousseau, President and Chief Executive Officer.

“Cash generation and balance sheet strength remain key anchors of Air Canada’s financial foundation. In the quarter, we generated $651 million in net cash flows from operating activities and $174 million in free cash flow, fuelling our ability to invest in the business and return capital to shareholders. In the quarter, we deployed $125 million for share repurchases and maintained our leverage ratio* at 1.7.

“Looking ahead, we are reinstating and updating full-year 2026 guidance, supported by resilient demand for premium and corporate travel, our fare actions to mitigate fuel-price volatility and our disciplined cost management. Reflecting the progress we have made in strengthening our financial position, we believe an investment grade rating is achievable in the mid-term. Beyond 2026, with Anko van der Werff announced as my successor, I am confident Air Canada has leadership continuity, a clear strategy and the financial strength to continue driving its long-term objectives and create significant sustainable value for all stakeholders,” concluded Mr. Rousseau.

Major Assumptions

Air Canada made assumptions in providing its guidance, including a modest Canadian GDP growth for 2026 and current demand trends continuing through the third quarter and remainder of 2026. Air Canada assumes that the Canadian dollar will trade, on average, at C$1.41 per U.S. dollar for the full year 2026 (previously C$1.36 per U.S. dollar). Air Canada also assumes that the price of jet fuel will average at approximately C$1.38 per litre for the third quarter of 2026 and C$1.29 per litre for the fourth quarter of 2026 (previously an average of C$0.90 per litre for the full year 2026). Our assumptions are based on the forward curve as of July 29, 2026, adjusted to reflect Air Canada’s specific supply chain environment, including Air Canada’s fuel infrastructure at Canadian hubs, where fuel is typically contracted and received on a one- to two-month forward basis, as well as pricing exposure at international station locations. These jet fuel estimates reflect Air Canada’s capacity plans and remain subject to ongoing volatility in global energy markets.