Business
Tech and financial stocks help boost S&P/TSX composite, U.S. stock markets also rise
By The Canadian Press on March 21st, 2024
TORONTO – Canada’s main stock index was up 100 points in late-morning trading, helped by strength in technology and financial stocks, while U.S. stock markets also pushed higher. The S&P/TSX composite index was up 100.84 points at 22,146.55. In New York, the Dow Jones industrial average was up 306.46 points at 39,818.59. The S&P 500 ... Read More »
Be the first to comment!Apple has kept an illegal monopoly over smartphones in US, Justice Department says in antitrust suit
By Michael Liedtke, Lindsay Whitehurst And Mike Balsamo, The Associated Press on March 21st, 2024
WASHINGTON (AP) – The Justice Department on Thursday announced a sweeping antitrust lawsuit against Apple, accusing the tech giant of engineering an illegal monopoly in smartphones that boxes out competitors and stifles innovation. The lawsuit, filed in federal court in New Jersey, alleges that Apple has monopoly power in the smartphone market and uses its ... Read More »
Be the first to comment!February home sales hit strongest pace in a year as mortgage rates ease and more houses hit market
By Alex Veiga, The Associated Press on March 21st, 2024
LOS ANGELES (AP) – Sales of previously occupied U.S. homes rose in January from the previous month to the strongest pace in a year with homebuyers encouraged by a modest pullback in mortgage rates and more properties on the market. Existing home sales climbed 9.5% last month from January to a seasonally adjusted annual rate ... Read More »
Be the first to comment!BoC expects quantitative tightening to end in 2025, deputy governor says
By The Canadian Press on March 21st, 2024
OTTAWA – Bank of Canada deputy governor Toni Gravelle says the central bank expects quantitative tightening to end sometime in 2025. Gravelle is delivering a speech today in Toronto on how the central bank plans to manage its balance sheet after that. The Bank of Canada launched quantitative easing operations for the first time ever ... Read More »
Be the first to comment!Deadlines, credits and life changes: the biggest tax pitfalls experts say to avoid
By Rosa Saba, The Canadian Press on March 21st, 2024
The deadline to file your taxes may feel like it’s far away, but experts say that not getting started early is one of the biggest mistakes Canadians make at tax season. Without that extra time, you might make other common missteps, they say, such as missing tax credits or overlooking important deadlines. Here are some ... Read More »
Be the first to comment!Federal minimum wage rising to $17.30 an hour on April 1
By The Canadian Press on March 21st, 2024
OTTAWA – The federal minimum wage is rising to $17.30 per hour on April 1. The increase from $16.65 reflects the increase in the annual average consumer price index for 2023. The government says about 30,000 employees in the federally regulated private sector will benefit from the increase. Ottawa introduced the federal minimum wage in ... Read More »
Be the first to comment!RBC to convert HSBC locations as soon as takeover closes next week
By The Canadian Press on March 21st, 2024
TORONTO – Royal Bank of Canada is planning to turn its soon-to-be-acquired HSBC Bank Canada properties into RBC locations immediately after taking ownership. RBC spokesperson Christine Stewart says the bank will begin converting HSBC branches and offices on March 28, the same day its $13.5-billion takeover deal will close, if it clears customary conditions. Branches ... Read More »
Be the first to comment!Stock market today: Wall Street extends its push into record highs, led by chipmakers
By Yuri Kageyama, The Associated Press on March 21st, 2024
NEW YORK (AP) – Stocks are extending their push to record highs in early trading on Wall Street, led by big gains in chipmakers. The S&P 500 was up 0.5% in the early going Thursday. The Dow Jones Industrial Average was up 177 points, or 0.5%. The Nasdaq composite added 0.8%. Micron led chipmakers higher ... Read More »
Be the first to comment!Alimentation Couche-Tard seeing low-income customers cut back on store visits: CEO
By The Canadian Press on March 21st, 2024
LAVAL, Que. – The head of Alimentation Couche-Tard Inc. says lower income consumers feeling strained by economic headwinds are cutting back on how often they visit the chain’s convenience stores. Brian Hannasch says these customers are also adopting more value-seeking behaviour and in some cases, trading down for products they see as more affordable. He’s ... Read More »
Be the first to comment!WSP Global acquires firm specialized in Indigenous and stakeholder engagement
By The Canadian Press on March 21st, 2024
MONTREAL – WSP Global Inc. says it has acquired Communica Public Affairs Inc., a firm specialized in Indigenous and stakeholder engagement. Financial terms of the deal were not immediately available. The engineering company says the acquisition improves its ability to respond to the increasing demand for stakeholder engagement and information management services. Communica was founded ... Read More »
Be the first to comment!Bank of England keeps key interest rate steady and avoids explicit signals that cuts are imminent
By Pan Pylas, The Associated Press on March 21st, 2024
LONDON (AP) – The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday even though inflation continues to drop from multi-decade peaks. The decision was widely anticipated in financial markets and comes a day after the U.S. Federal Reserve also left its key interest rate unchanged. But ... Read More »
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