February 23rd, 2017

Business

Loblaw Q4 profit up 57% to $201 million, revenue up 2.4% to $11.13 billion

By The Canadian Press on February 23rd, 2017

BRAMPTON, Ont. – Loblaw had $11.13 billion of revenue and a $201 million net profit in the fourth quarter. The profit amounted to 50 cents per share. The net profit was up 57 per cent or $73 million from a year earlier, while revenue was up $265 million or 2.4 per cent. In the fourth ... Read More »

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CIBC grows first quarter net income to $1.41 billion on $4.21 billion of revenue

By The Canadian Press on February 23rd, 2017

TORONTO – CIBC increased its first-quarter net income to $1.41 billion, up from $982 million a year ago. The quarterly earnings amounted to $3.50 per diluted share, compared with $2.43 per diluted share during the same period last year. On an adjusted basis, the Toronto-based bank (TSX:CM) had $1.17 billion of income, or $2.89 per ... Read More »

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Cash-strapped Canadians put less into TFSAs in 2016, survey finds

By The Canadian Press on February 23rd, 2017

TORONTO – A new survey suggests Canadians contributed less to their tax-free savings accounts last year, mostly because they didn’t have enough money to invest. The Bank of Montreal’s annual TFSA survey found respondents contributed an average of $4,592 into their accounts last year – $939 less than the year before. Forty-three per cent indicated ... Read More »

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World shares listless as Fed minutes fail to sway investors

By Kelvin Chan, The Associated Press on February 23rd, 2017

HONG KONG – World stock markets were drifting in listless trading Thursday as the latest Fed minutes left investors unmoved. KEEPING SCORE: European shares were mixed in early trading. France’s CAC 40 added 0.2 per cent to 4,904.54 and Germany’s DAX ticked up less than 0.1 per cent to 12,002.81. Britain’s FTSE 100 lost 0.1 ... Read More »

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Vancouver seeking judicial review of Trans Mountain pipeline expansion

By The Canadian Press on February 22nd, 2017

VANCOUVER – The City of Vancouver is launching another court case in a bid to derail Kinder Morgan’s proposed pipeline expansion. Council members have voted to go ahead with a judicial review of the provincial government’s environmental assessment of the Trans Mountain project. In June, the city filed another court challenge aimed at quashing the ... Read More »

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Nobel-winning economist Kenneth J. Arrow dies at 95

By The Associated Press on February 22nd, 2017

PALO ALTO, Calif. – Kenneth J. Arrow, the youngest-ever winner of a Nobel prize for economics, whose theories on risk, innovation and the basic mathematics of markets have influenced thinking on everything from voting to health insurance to high finance, has died. He was 95. Arrow died Tuesday at his home in Palo Alto, in ... Read More »

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Asian shares dip as Fed minutes show rate hike expected soon

By Kelvin Chan, The Associated Press on February 22nd, 2017

HONG KONG – Asian shares slipped Thursday after the latest Fed minutes raised the possibility that a U.S. rate hike could come sooner than expected. KEEPING SCORE: Japan’s benchmark Nikkei 225 lost 0.4 per cent to 19,312.07 and South Korea’s Kospi dipped 0.1 per cent to 2,104.70. Hong Kong’s Hang Seng shed 0.5 per cent ... Read More »

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Manitoba entrepreneurs pitch wares to celebrities at Academy Awards

By The Canadian Press on February 22nd, 2017

WINNIPEG – A couple of Manitoba entrepreneurs are headed to this weekend’s Oscars to pitch their locally made products. Colleen Dyck of the Great GORP Project and Peter Fehr of Gourmet Inspirations will be handing out their yummy treats in the Celebrity Luxury Gifting Suite at the Academy Awards. Dyck will be presenting her clean ... Read More »

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Republican US senator: I’m open to subpoena of Trump’s taxes

By Patrick Whittle, The Associated Press on February 22nd, 2017

PORTLAND, Maine – U.S. Sen. Susan Collins said on Wednesday she’s open to using a subpoena to investigate President Donald Trump’s tax returns for potential connections to Russia. Collins, a Republican who has served as a U.S. senator from Maine since 1997, sits on the Senate Intelligence Committee, which is investigating Russian interference in the ... Read More »

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Most oil pipeline opponents leave North Dakota protest camp

By Blake Nicholson And James MacPherson, The Associated Press on February 22nd, 2017

CANNON BALL, N.D. – Most of the Dakota Access pipeline opponents abandoned their protest camp Wednesday ahead of a government deadline to get off the federal land, and authorities moved to arrest some who defied the order in a final show of dissent. The camp has been home to demonstrators for nearly a year as ... Read More »

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