Business
Rise of the techie cargo thieves: How digitally savvy theft has invaded trucking
By Christopher Reynolds, The Canadian Press on March 24th, 2024
MONTREAL – One day last spring, Peel police Det. Mark Haywood executed a search warrant on a property west of Toronto and found a semi-trailer loaded with snowmobiles. “Seeing an entire container full of brand new Ski-Doos valued at, like, $24,000 (each) – that’s a pretty good recovery for our unit,” said Haywood, who heads ... Read More »
Be the first to comment!S&P/TSX composite down more than 100 points, one day after breaking record
By The Canadian Press on March 22nd, 2024
TORONTO – Canada’s main stock index took a breather Friday, closing down more than 100 points a day after setting a new all-time closing high. The S&P/TSX composite index closed down 103.18 points at 21,984.08. In New York, the Dow Jones industrial average was down 305.47 points at 39,475.90. The S&P 500 index was down ... Read More »
Be the first to comment!Red Sea attacks could push more cargo to Port of Vancouver after record year: CEO
By Christopher Reynolds, The Canadian Press on March 22nd, 2024
Attacks on cargo vessels in the Red Sea could drive more shippers toward the Port of Vancouver after a year of record-high volumes, its CEO said. “We know that the Red Sea impacts have caused significant rerouting of cargo for vessel operators to all markets,” Peter Xotta, the head of the Vancouver Fraser Port Authority, ... Read More »
Be the first to comment!Stock market today: Wall Street hangs near records as it closes its best week of the year
By Damian J. Troise, The Associated Press on March 22nd, 2024
NEW YORK (AP) – Wall Street had a wobbly finish to its best week of the year so far. The S&P 500 ended 0.1% lower Friday after spending the day bouncing between gains and losses. It set all-time high in each of the last three days. The Dow Jones Industrial Average slumped 0.8%, and the ... Read More »
Be the first to comment!Atlantic Canada’s insolvent SaltWire Network granted extension to creditor protection
By Michael MacDonald, The Canadian Press on March 22nd, 2024
HALIFAX – A Nova Scotia judge approved Friday an extension to a court order protecting Atlantic Canada’s largest media company from a long list of creditors owed more than $90 million. Nova Scotia Supreme Court Justice John Keith said insolvent SaltWire Network Inc. can continue to operate under the Companies’ Creditors Arrangement Act (CCAA) until ... Read More »
Be the first to comment!Lululemon shares sink on disappointing outlook, slowdown in U.S. business
By Tara Deschamps, The Canadian Press on March 22nd, 2024
Shares in Lululemon Athletica Inc. were down about 15 per cent in afternoon trading Fridayas investors reacted to lower revenue projections and a U.S. slowdown. The Vancouver-based athletic apparel retailer’s fourth quarter, which ended Jan. 28, brought US$669.5 million in earnings, up from US$119.8 million a year earlier. However, the company estimates its fiscal 2024 ... Read More »
Be the first to comment!Stellantis lays off about 400 salaried workers to handle uncertainty in electric vehicle transition
By The Associated Press on March 22nd, 2024
DETROIT (AP) – Jeep maker Stellantis is laying off about 400 white-collar workers in the U.S. as it deals with the transition from combustion engines to electric vehicles. The company formed in the 2021 merger between PSA Peugeot and Fiat Chrysler said the workers are mainly in engineering, technology and software at the headquarters and ... Read More »
Be the first to comment!Lululemon shares sink 17% after retailer notes ‘slowdown’ in U.S. business
By The Canadian Press on March 22nd, 2024
VANCOUVER – Lululemon Athletica Inc.’s stock dropped roughly 17 per cent in Friday morning trading and remained down into the afternoon as the market reacted to financial results released the day before. The Vancouver-based athletic apparel retailer’s fourth quarter brought US$669.5 million in earnings, up from US$119.8 million a year earlier. Despite the increase, executives ... Read More »
Be the first to comment!Port of Vancouver boasts record cargo volume, despite strike and cooling economy
By The Canadian Press on March 22nd, 2024
VANCOUVER – The Vancouver Fraser Port Authority says record cargo volume rolled through its terminals last year, despite a sputtering global economy and a big drop in container shipments. An unprecedented 150.4 million tonnes of bulk, breakbulk and container goods traversed the docks at the country’s largest port, a six per cent increase over the ... Read More »
Be the first to comment!French President Macron regrets the Senate’s vote to reject the EU-Canada trade deal
By Sylvie Corbet, The Associated Press on March 22nd, 2024
BRUSSELS (AP) – French President Emmanuel Macron said Friday he “regrets” the Senate’s vote to reject legislation to ratify a trade deal between the European Union and Canada that has been criticized by farmers as bringing unfair competition from abroad. The EU-Canada Comprehensive Economic and Trade Agreement, or CETA, provisionally went into effect in September ... Read More »
Be the first to comment!Trump’s social media company approved to go public, potentially netting former president billions
By The Associated Press on March 22nd, 2024
NEW YORK (AP) – Donald Trump is returning to the stock market. Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the former president’s media business in a Friday vote. That means Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will ... Read More »
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