March 29th, 2024

Business

A suspected attack by Yemen’s Houthi rebels damages a ship in the Gulf of Aden

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 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 as a U.S. destroyer separately shot down drones ... Read More »

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BoC to announce interest rate decision today, widely expected to hold key rate at 5%

By The Canadian Press on March 6th, 2024

OTTAWA – The Bank of Canada is set to announce its interest rate decision this morning. Economists widely expect the central bank to maintain its key interest rate at five per cent, despite signs inflation is cooling. Canada’s inflation rate dropped to 2.9 per cent in January as price pressures eased across the economy. The ... Read More »

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Shania Twain now has a Barbie modelled after her: ‘My own projection of myself’

By Nicole Thompson, The Canadian Press on March 5th, 2024

As a young girl, Shania Twain says she used to make her own dolls, modelled after Barbie. Her family couldn’t afford to buy her the real deal, Twain says, so she took matters into her own hands. “My Barbie play was always at my cousin’s or at friend’s houses, but at home I would make ... Read More »

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Canfor Corp. reports $117-million loss in fourth quarter after ‘challenging’ 2023

By The Canadian Press on March 5th, 2024

VANCOUVER – Canfor Corp. says it lost $117.1 million in the fourth quarter of 2023, a smaller loss than $207.9 million a year earlier. The Vancouver-based company says sales totalled $1.28 billion, down from $1.37 billion during the same quarter in 2022. The company says it was a challenging year, as weak global lumber market ... Read More »

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Nuvei earns US$14.1 million in fourth quarter, revenues also rise

By The Canadian Press on March 5th, 2024

MONTREAL – Nuvei Corp. says it earned US$14.1 million in the fourth quarter, up from US$9.4 million a year earlier. The Montreal-based payment technology company, which reports in U.S. dollars, says revenue for the quarter ended Dec. 31 was US$321.5 million, up from US$220.3 million during the same quarter in 2022. Earnings per diluted share ... Read More »

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Stellantis to produce electric muscle cars in Windsor. Ont. plant

By The Canadian Press on March 5th, 2024

WINDSOR, Ont. – Stellantis says its electric Dodge Charger will be built at the Windsor, Ont. assembly plant. The automaker says the EV version marks the arrival of the next generation of Dodge muscle cars. Stellantis said in November the plant would install new electric battery capability as part of a three-year collective agreement with ... Read More »

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Bitcoin briefly hits an all-time high, less than two years after FTX scandal clobbered crypto

By Wyatte Grantham-philips, The Associated Press on March 5th, 2024

NEW YORK (AP) – Bitcoin has hit an all-time high less than two years after the collapse of the crypto exchange FTX severely damaged faith in digital currencies and sent prices plunging. The world’s largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 Tuesday, according to CoinMarketCap. That’s just above bitcoin’s previous record set ... Read More »

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Aecon Group’s profit down in fourth quarter at $9.7 million, but up for full year

By The Canadian Press on March 5th, 2024

TORONTO – Aecon Group Inc. says it earned $9.7 million in the fourth quarter of 2023, down from $19.7 million a year earlier. The Toronto-based company says revenue for the quarter ended Dec. 31 totalled $1.13 billion, down from $1.27 billion a year earlier. Earnings per diluted share were 15 cents, down from 26 cents ... Read More »

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S&P/TSX composite essentially flat on Tuesday, U.S. markets fall

By The Canadian Press on March 5th, 2024

TORONTO – Canada’s main stock index moved a hair lower on Tuesday, while U.S. markets fell, led by the Nasdaq losing 1.65 per cent. The S&P/TSX composite index closed down 5.14 points at 21,525.93. In New York, the Dow Jones industrial average was down 404.64 points at 38,585.19. The S&P 500 index was down 52.30 ... Read More »

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Flair Airlines CEO hopes to bid on some Lynx planes after shutdown scuttles deal

By Christopher Reynolds, The Canadian Press on March 5th, 2024

Flair Airlines chief executive Stephen Jones says he still hopes to add several Lynx Air planes to his fleet, even after their tentative merger fell through when Lynx shut down last month. In a phone interview, Jones said the Boeing 737 Max 8s are the same model that comprise the bulk of his 20-plane fleet ... Read More »

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