Business
‘He was a messenger’: Defence disputes accused was leader at Alberta border blockade
By Bill Graveland, The Canadian Press on April 11th, 2024
A lawyer for one of three men on trial for their roles in the border blockade at Coutts, Alta., argued Thursday his client was nothing more than a messenger. Crown prosecutors have told jurors they intend to prove the trio spearheaded the protest that tied up traffic between at the Canada-United States border crossing for ... Read More »
Be the first to comment!Environmentalists protest as Biden administration approves huge oil export terminal off Texas coast
By Matthew Daly, The Associated Press on April 11th, 2024
WASHINGTON (AP) – In a move that environmentalists called a betrayal, the Biden administration has approved construction of a deepwater oil export terminal off the Texas coast that would be the largest of its kind in the United States. The Sea Port Oil Terminal being developed off Freeport, Texas, will be able to load two ... Read More »
Be the first to comment!Loblaw launching No Name Mobile cellphone plans at all No Frills stores
By The Canadian Press on April 11th, 2024
Loblaw Cos. Ltd. is launching low-cost cellphone plans under its No Name brand, offering prepaid mobile sim cards for purchase at all No Frills locations across the country within the coming weeks. The company says its new No Name Mobile cellphone plans are powered by its PC Mobile carrier, which has been around since 2005 ... Read More »
Be the first to comment!Postmedia reports $20.1M loss in Q2, revenue down 13 per cent from year ago
By The Canadian Press on April 11th, 2024
TORONTO – Postmedia Network Canada Corp. reported a net loss of $20.1 million in its latest quarter compared with a loss of $20.8 million a year earlier as its revenue fell 13 per cent. The publisher of the National Post and other newspapers says the loss amounted to 20 cents per diluted share for the ... Read More »
Be the first to comment!Ottawa to allow 30-year amortization for first-time buyers’ mortgages on new homes
By The Canadian Press on April 11th, 2024
TORONTO – The federal government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes. Finance Minister Chrystia Freeland made the announcement in Toronto on Thursday, saying it will take effect Aug. 1. “Faced with a shortage of housing options and increasingly high rent and home prices, younger Canadians understandably ... Read More »
Be the first to comment!RBC faces questions on climate, Indigenous rights at annual general meeting
By The Canadian Press on April 11th, 2024
TORONTO – RBC chief executive Dave McKay faced a steady stream of questions about the bank’s climate and Indigenous rights track record at its annual general meeting Thursday. In response, McKay agreed on the need to evolve, but pointed to several of the bank’s major policy rollouts since its last AGM on its journey to ... Read More »
Be the first to comment!Auto parts maker Magna International signs strategic partnership with Sanctuary AI
By The Canadian Press on April 11th, 2024
VANCOUVER – Magna International Inc. has signed a strategic partnership with Sanctuary AI for the development of general purpose AI robots for use in the company’s manufacturing operations. Financial terms of the agreement, which includes a strategic equity investment by Magna, were not immediately available. Founded in 2018, Vancouver-based Sanctuary AI has developed a number ... Read More »
Be the first to comment!Canada needs to build 1.3M additional homes by 2030 to close housing gap, says PBO
By The Canadian Press on April 11th, 2024
OTTAWA – The parliamentary budget officer says Canada would need to build 1.3 million additional homes by 2030 to eliminate the country’s housing gap. The newly released report looks at how many more homes would need to be built restore Canada’s vacancy rate to the historical average. The report by Yves Giroux also accounts for ... Read More »
Be the first to comment!Canada to allow 30-year amortization for first-time buyers’ mortgages on new homes
By The Canadian Press on April 11th, 2024
TORONTO – The Canadian government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes. Finance Minister Chrystia Freeland made the announcement in Toronto today, saying it would take effect Aug. 1. The Canadian Home Builders’ Association has advocated for longer amortization periods, saying five more years would help with ... Read More »
Be the first to comment!As world’s central banks wrestle with when to cut rates, Europe signals it’s ready to move
By David Mchugh, The Associated Press on April 11th, 2024
FRANKFURT, Germany (AP) – The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world’s central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business and consumers. The bank left its ... Read More »
Be the first to comment!Stock market today: Wall Street drifts after another inflation report as worries about rates remain
By Stan Choe, The Associated Press on April 11th, 2024
NEW YORK (AP) – U.S. stocks are drifting Thursday, a day after tumbling on worries that interest rates may stay high for a while. The S&P 500 was 0.3% lower in morning trading, coming off a slide of 0.9%. The Dow Jones Industrial Average was down 237 points, or 0.6%, as of 10:35 a.m. Eastern ... Read More »
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