March 28th, 2024

Business

Tight-lipped Bank of Canada holds key rate at 5%, says it’s too early to cut rates

By Nojoud Al Mallees, The Canadian Press on March 6th, 2024

OTTAWA – The Bank of Canada brushed off questions about rate cuts as it held its policy rate at five per cent Wednesday, arguing inflation is still too high to justify lower borrowing costs. Governor Tiff Macklem, who held a news conference after the interest rate announcement, acknowledged that inflation has continued to ease and ... Read More »

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Yemen Houthi attack on a ship kills 2, marking the rebels’ first fatal assault on shipping

By Jon Gambrell And Tara Copp, The Associated Press on March 6th, 2024

DUBAI, United Arab Emirates (AP) – A missile attack by Yemen’s Houthi rebels on a commercial ship in the Gulf of Aden killed two of its crew members and forced survivors to abandon the vessel on Wednesday, authorities said, the first fatal strike in a campaign of assaults by the group over Israel’s war on ... Read More »

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SEC approves rule that requires some companies to publicly report emissions and climate risks

By Suman Naishadham, The Associated Press on March 6th, 2024

WASHINGTON (AP) – The U.S. Securities and Exchange Commission on Wednesday approved a rule that will require some public companies to report their greenhouse gas emissions and climate risks, after last-minute revisions that weakened the rule in the face of strong pushback from companies. The rule was one of the most anticipated in recent years ... Read More »

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Yemen Houthi attack hits a ship, causing the first deaths in their assaults on shipping

By Jon Gambrell And Tara Copp, The Associated Press on March 6th, 2024

DUBAI, United Arab Emirates (AP) – An attack by Yemen’s Houthi rebels on a commercial ship in the Gulf of Aden killed some of its crew and forced survivors to abandon the vessel on Wednesday, authorities said, the first fatal strike in a campaign of assaults by the group over Israel’s war on Hamas in ... Read More »

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RBC raises renewable funding target, reports little progress on oil and gas emissions

By The Canadian Press on March 6th, 2024

TORONTO – Royal Bank of Canada says it plans to ramp up its renewable energy funding as it also reported little progress on reducing the emissions intensity of its oil and gas financing. The bank says in its latest annual climate report out Wednesday that it has set a goal to triple renewable energy funding ... Read More »

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S&P/TSX composite up almost 150 points in late-morning, U.S. markets also rise

By The Canadian Press on March 6th, 2024

TORONTO – Broad-based strength lifted Canada’s main stock index by almost 150 points in late-morning trading, while U.S. markets also rose. The S&P/TSX composite index was up 144.26 points at 21,670.19. In New York, the Dow Jones industrial average was up 236.15 points at 38,821.34. The S&P 500 index was up 40.81 points at 5,119.46,while ... Read More »

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A likely Yemen Houthi attack hits a ship, causing the first ‘fatalities’ in the assaults on shipping

By Jon Gambrell And Tara Copp, The Associated Press on March 6th, 2024

DUBAI, United Arab Emirates (AP) – A suspected attack by Yemen’s Houthi rebels on a commercial ship in the Gulf of Aden caused “fatalities” and forced the crew to abandon the vessel on Wednesday, authorities said, the first fatal attack in a campaign of assaults by the group over Israel’s war on Hamas in the ... Read More »

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Egypt floats its currency, agrees with the IMF to increase bailout loan to $8 billion

By Samy Magdy, The Associated Press on March 6th, 2024

CAIRO (AP) – Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation. The flotation of the Egyptian pound, combined with a ... Read More »

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Suspected Yemen Houthi rebel attack hits a ship in the Gulf of Aden, sends crew fleeing in lifeboats

By Jon Gambrell, The Associated Press on March 6th, 2024

DUBAI, United Arab Emirates (AP) – A suspected attack by Yemen’s Houthi rebels damaged a ship in the Gulf of Aden and sent the crew fleeing for their lives on Wednesday, authorities said, the latest in a campaign of assaults by the group over Israel’s war on Hamas in the Gaza Strip. The attack came ... Read More »

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US job openings stay steady at nearly 8.9 million in January, a sign labor market remains strong

By Paul Wiseman, The Associated Press on March 6th, 2024

WASHINGTON (AP) – U.S. job openings barely changed in January but remained elevated, suggesting that the American job market remains healthy. The Labor Department reported Wednesday that U.S. employers posted 8.86 million job vacancies in January, down slightly from 8.89 million in December and about in line with economists’ expectations. Layoffs fell modestly, but so ... Read More »

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