November 25th, 2020

Business

Bertelsmann’s Penguin division snaps up Simon & Schuster

By Frank Jordans And Hillel Italie, The Associated Press on November 25th, 2020

BERLIN – German media giant Bertelsmann said Wednesday that it is buying publisher Simon & Schuster, further expanding its existing U.S. portfolio that already includes the number one American publisher Penguin Random House. Bertelsmann said it is buying the New York-based firm, whose authors include Stephen King, Hillary Clinton and John Irving, from ViacomCBS for ... Read More »

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S&P/TSX composite edges lower, while U.S. stock markets are mixed

By The Canadian Press on November 25th, 2020

TORONTO – Canada’s main stock index edged lower in late-morning trading as the financial, industrial and metals and mining sectors pulled back, while U.S. stock markets were mixed. The S&P/TSX composite index was down 2.94 points at 17,271.31. In New York, the Dow Jones industrial average was down 144.85 points at 29,901.39. The S&P 500 ... Read More »

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Ontario records 1,373 new COVID-19 cases; set to release holiday guidelines

By The Canadian Press on November 25th, 2020

Ontario is reporting 1,373 new cases of COVID-19 today, and 35 new deaths linked to the virus. Health Minister Christine Elliott says 445 of today’s new cases are in Toronto, while 415 are in Peel Region. Eleven fewer people are hospitalized with COVID-19, according to today’s numbers, for a total of 523. The number in ... Read More »

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Slight gain of 1.3% in October for manufactured goods

By Martin Crutsinger, The Associated Press on November 25th, 2020

WASHINGTON – Orders to U.S. factories for big-ticket manufactured goods showed a modest gain in October but much of the strength came from a big jump in orders for military equipment. Orders for durable goods, items expected to last at least three years, rose a better-than-expected 1.3% in October and that gain followed an upwardly ... Read More »

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S&P/TSX composite edges lower in early trading, U.S. stock markets mixed

By The Canadian Press on November 25th, 2020

TORONTO – Canada’s main stock index edged lower in early trading, weighed down by losses in the financial, energy and metals and mining sectors. The S&P/TSX composite index was down 4.55 points at 17,269.70. In New York, the Dow Jones industrial average was down 116.88 points at 29,929.36. The S&P 500 index was down 7.78 ... Read More »

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US jobless claims up for 2nd straight week as virus worsens

By Paul Wiseman, The Associated Press on November 25th, 2020

WASHINGTON – The number of Americans applying for unemployment benefits rose last week for a second straight week to 778,000, evidence that the U.S. economy and job market remain under strain as coronavirus cases surge and colder weather heighten the risks. The Labor Department’s report Wednesday said that jobless claims climbed from 748,000 the week ... Read More »

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Unchanged from early estimate, US economy grew 33.1% in Q3

By Martin Crutsinger, The Associated Press on November 25th, 2020

WASHINGTON – The second of three estimates on U.S. growth for the July-September quarter was unchanged at a record pace of 33.1%. But a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some economists even raising the spectre of a double-dip recession. While the overall increase in the ... Read More »

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Pension fund managers call for strengthened ESG disclosure by companies

By The Canadian Press on November 25th, 2020

TORONTO – A group of Canadian pension plan investment managers is calling on companies to standardize their environmental, social, and governance disclosure to help them in their investment decision-making and better assess and manage their risks. The eight fund mangers together manage a total of about $1.6 trillion in assets. They say they are committed ... Read More »

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Modest gain of 1.3% in October for manufactured goods

By Martin Crutsinger, The Associated Press on November 25th, 2020

WASHINGTON – Orders to U.S. factories for big-ticket manufactured goods showed a modest gain in October with a key category that tracks business investment also showing weakness. Orders for durable goods, items expected to last at least three years, edged up a slight 1.3% in October after a 2.1% gain in September, the Commerce Department ... Read More »

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Cascades to close its napkin plant in Laval, Que. in June 2021

By The Canadian Press on November 25th, 2020

KINGSEY FALLS, Que. – Cascades Inc. says it will close its napkin plant in Laval, Que., at the end of June next year. The plant currently employs 54 workers. Cascades says it will offer to relocate as many employees as possible to its other operations in Quebec and employees who are not able, or do ... Read More »

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