Business
Stock market today: Wall Street falls on double dose of disappointing economic data, as Meta sinks
By Stan Choe, The Associated Press on April 25th, 2024
NEW YORK (AP) – Stocks closed lower on worries about a potentially toxic cocktail for financial markets, one where inflation remains stubbornly high but the economy’s growth flags. A sharp drop for Meta Platforms, one of Wall Street’s most influential stocks, also dragged the market lower. The S&P 500 fell 0.5% Thursday after paring an ... Read More »
Be the first to comment!Precision Drilling seeing boost in demand as Trans Mountain start nears
By The Canadian Press on April 25th, 2024
CALGARY – The completion of the Trans Mountain pipeline expansion is leading to a boom in demand for drilling services, said Precision Drilling chief executive Kevin Neveu. The contract driller is seeing demand exceed its expectations, he said on an earnings call Thursday, as the expansion of the crude oil pipeline to the West Coast ... Read More »
Be the first to comment!Here’s a list of recent electric vehicle and battery plant announcements in Canada
By Ritika Dubey, The Canadian Press on April 25th, 2024
Honda Motor Co. plans to build a $15-billion electric vehicle battery plant next to its Alliston, Ont., plant, which it will retool to produce EVs, the company announced on Thursday. The project includes up to $5 billion in public funding and is the latest in a string of EV-related announcements, many of which also saw ... Read More »
Be the first to comment!Mining giant BHP Billiton makes $39 billion bid for Anglo American to expand copper operations
By Pan Pylas, The Associated Press on April 25th, 2024
LONDON (AP) – Shares in U.K.-based mining giant Anglo American surged Thursday after it received a 31 billion-pound ($39 billion) takeover approach from rival BHP Billiton, a deal that would create the world’s biggest copper miner, with around 10% of global output – a hugely lucrative market in the transition to clean energy. Anglo American’s ... Read More »
Be the first to comment!Ted Baker Canada seeking creditor protection amid ‘significant’ liquidity challenges
By The Canadian Press on April 25th, 2024
TORONTO – The owners of Ted Baker’s Canadian operations have filed for court protection from creditors in a bid to help the retailer get enough “breathing room” to decide whether to liquidate and wind down the business or pursue other unspecified alternatives. In court filings Wednesday, lawyers for the ownership group – OSL Fashion Canada ... Read More »
Be the first to comment!BHP’s proposed takeover of Anglo a validation of copper focus: Teck CEO
By Ian Bickis, The Canadian Press on April 25th, 2024
Teck Resources Ltd. saw copper production surge in the first quarter compared with a year earlier as its Quebrada Blanca expansion project ramped up toward full production. The roughly US$8.7-billion project in Chile is at the heart of the company’s efforts to shift focus towards metals crucial to the energy transition. The company completed all ... Read More »
Be the first to comment!‘Conscience is clear’: N.B. tourism minister, deputy expense $22,500 for Euro trip
By The Canadian Press on April 25th, 2024
FREDERICTON – New Brunswick’s tourism minister has remained defiant in the face of criticism from Opposition members who have questioned the benefits of a weeklong trip to Europe that cost the province more than $22,500. Tammy Scott-Wallace faced almost two days of questioning in the legislature about her trips but responded that her “conscience is ... Read More »
Be the first to comment!Billions of bottles: Canadian statistics paint grim picture of plastic litter problem
By The Canadian Press on April 25th, 2024
OTTAWA – New Canadian data suggest that over a nine-year period between 2012 and 2020, the equivalent of more 15 billion plastic bottles and as many as 14 billion plastic grocery bags became litter in Canada’s environment. The data come as Canadian negotiators are at an Ottawa convention centre with peers from 174 other countries ... Read More »
Be the first to comment!Bombardier boosts order backlog even as global demand for business jets softens
By Christopher Reynolds, The Canadian Press on April 25th, 2024
MONTREAL – Under the wing of a new logo, Bombardier Inc. said it lengthened its order book last quarter even as global demand for business jets idles. The company grew its first-quarter backlog by five per cent year-over-year to US$14.9 billion. Its book-to-bill – the ratio of orders received to deliveries billed, a key indicator ... Read More »
Be the first to comment!Alberta to appeal ruling ordering release of documents on coal mining in Rockies
By The Canadian Press on April 25th, 2024
EDMONTON – Alberta is appealing a judge’s ruling that ordered the release of internal documents on coal mining in the province’s Rocky Mountains. The lawyer for the ranchers who requested the documents under freedom of information laws is confirming the decision from Alberta Energy. King’s Bench Justice Kent Teskey ruled earlier this month that the ... Read More »
Be the first to comment!Nova Scotia elver fisher says early signs of improved enforcement of fishery
By The Canadian Press on April 25th, 2024
HALIFAX – A Nova Scotia commercial fisher says he sees early signs the federal government has increased its enforcement of illegal fishing for baby eels. Stanley King, of Atlantic Elver Fishery, reacted today to recent news that the federal Fisheries Department arrested five people from Maine for illegal fishing in Digby County, N.S. King says ... Read More »
1 response
