September 24th, 2017

Business

Financial watchdog warns 50,000 people could lose jobs due to minimum wage hike

By Shawn Jeffords, The Canadian Press on September 12th, 2017

TORONTO – More than 50,000 people could lose their jobs if the Ontario government goes ahead with its plan to raise the minimum wage to $15 an hour by 2019, the province’s financial watchdog said Tuesday. The job losses would be concentrated among teens and young adults, while the number of minimum wage workers in ... Read More »

Be the first to comment!

Toronto and U.S. stock markets move higher, loonie slips against U.S. dollar

By The Canadian Press on September 12th, 2017

TORONTO – North American stock markets gained ground in late-morning as the loonie slipped against the U.S. dollar. The S&P/TSX composite index was up 46.04 points to 15,086.34, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 51.67 points to 22,109.04. The S&P 500 index was up 3.83 points ... Read More »

Be the first to comment!

Postings of US job openings hit a record high in July

By Josh Boak, The Associated Press on September 12th, 2017

WASHINGTON – Job openings posted by U.S. employers reached an all-time high in July, suggesting that the steady hiring of the past year will endure. The Labor Department says openings edged up 0.9 per cent from June to 6.2 million, the highest on records dating to 2000. Hiring also increased, but the record number of ... Read More »

Be the first to comment!

Bombardier forecasts 12,550 planes will be shipped with up to 150 seats by 2036

By The Canadian Press on September 12th, 2017

MIRABEL, Que. – Bombardier says there is a global market worth US$820 billion over the next 20 years for 12,550 commercial planes the size it produces. The 100- to 150-seat segment, which includes its CSeries passenger jets, will lead the way with 6,800 deliveries valued at US$580 billion at 2017 list prices. Bombardier says it ... Read More »

Be the first to comment!

Charles Oakley sues Knicks owners, claiming defamation

By The Associated Press on September 12th, 2017

NEW YORK – Former New York Knicks star Charles Oakley has sued the team’s owners, saying he was defamed when they claimed he committed assault and was an alcoholic. The lawsuit details how Oakley was treated before and after he was forcefully removed from Madison Square Garden during a Feb. 8 game. The lawsuit filed ... Read More »

Be the first to comment!

Samsung eyes foldable smartphone, voice-controlled speaker

By Youkyung Lee, The Associated Press on September 12th, 2017

SEOUL, Korea, Republic Of – Samsung Electronics Co. said Tuesday it aims to launch a foldable smartphone next year under its Galaxy Note brand. Koh Dong-jin, president of mobile business at Samsung Electronics, said the company is setting its eyes on 2018 to release a smartphone with a bendable display. But he said there are ... Read More »

Be the first to comment!

Wisconsin set to approve $3 billion for Foxconn

By Scott Bauer, The Associated Press on September 12th, 2017

MADISON, Wis. – The Wisconsin Senate was poised to approve nearly $3 billion in cash payments for Taiwan-based Foxconn Technology Group on Tuesday, an unprecedented incentive package for the electronics company to locate a flat-screen factory in the state. The proposed subsidy would be the largest ever from a U.S. state to a foreign company ... Read More »

Be the first to comment!

Home Capital shareholders vote ‘no’ on second tranche for Buffett investment

By The Canadian Press on September 12th, 2017

TORONTO – Shareholders of Home Capital Group Inc. (TSX:HCG) voted against Warren Buffett’s additional investment in the alternative mortgage lender, keeping the legendary investor’s stake at 19.99 per cent. At a special meeting, more than 88 per cent of shareholders voted against of Buffett’s Berkshire Hathaway acquiring 23.9 million more shares for $246.7 million, at ... Read More »

Be the first to comment!

Oil will keep flowing, but UN sanctions hit North Korea hard

By Eric Talmadge, The Associated Press on September 12th, 2017

TOKYO – North Korea will be feeling the pain of new United Nations sanctions targeting some of its biggest remaining foreign revenue streams. But the Security Council eased off the biggest target of all: the oil the North needs to stay alive, and to fuel its million-man military. Though the United States had proposed a ... Read More »

Be the first to comment!

Financial watchdog warns over 50,000 job cuts could result from wage hike

By The Canadian Press on September 12th, 2017

TORONTO – The province’s financial watchdog says that Ontario’s proposed minimum wage hike could result in more than 50,000 job losses. In a report released today, Financial Accountability Officer Stephen LeClair estimates that job losses will be concentrated among teens and young adults. In July, Premier Kathleen Wynne announced her government would increase Ontario’s minimum ... Read More »

Be the first to comment!