Business
Bank CEOs say cash reserves are ready ahead of potential slowdown
By Ian Bickis, The Canadian Press on January 9th, 2023
TORONTO – Canada’s big banks say they have the cash reserves needed ahead of a potential economic slowdown, while minimizing the risks it poses to their finances. Speaking at the RBC bank CEO conference in Toronto Monday, executives said they would all be able to meet the higher capital requirements the regulator imposed in December ... Read More »
1 responseManitoba reveals new tourism slogan to pitch to post-pandemic visitors
By The Canadian Press on January 9th, 2023
WINNIPEG – Manitoba’s tourism industry has a new slogan and marketing campaign to try to lure more visitors. Travel Manitoba, a provincial Crown corporation, has changed its marketing tag line from “Canada’s heart beats,” adopted eight years ago, to “Canada’s heart is calling.” There are also new advertisements and new lettering that features a polar ... Read More »
1 responseNova Scotians warned about ‘pig-butchering’ crypto scam that has cost victims $750K
By Lyndsay Armstrong, The Canadian Press on January 9th, 2023
HALIFAX – The Nova Scotia securities regulator is warning about a cryptocurrency scam that has so far cost residents hundreds of thousands of dollars. Nova Scotians should be wary of this so-called “pig-butchering” scheme, which starts with unsolicited messages or advertisements recommending investment in crypto assets, Paul Radford, chair of the Nova Scotia Securities Commission, ... Read More »
1 responseNova Scotia securities regulator says a crypto-trading scam has cost victims $750,000
By The Canadian Press on January 9th, 2023
HALIFAX – The Nova Scotia Securities Commission is warning about a cryptocurrency scam that has so far cost residents hundreds of thousands of dollars. Commission spokesperson David Harrison says that since the fall more than 20 Nova Scotians have reported losing a total of about $750,000. The regulator says victims of the scam received texts, ... Read More »
Be the first to comment!Gonez Media acquires Toronto’s Now Magazine, plans relaunch under Now banner
By The Canadian Press on January 9th, 2023
TORONTO – Online media company Gonez Media (GMI) says it has acquired Now Magazine. Financial terms of the agreement were not immediately available. Now Magazine published its last print edition last year, but has maintained its website. GMI says it plans to relaunch the publication it under the Now banner in a digital-only format on ... Read More »
Be the first to comment!S&P/TSX composite up more than 150 points in late-morning trading
By The Canadian Press on January 9th, 2023
TORONTO – Strength in the energy, technology and base metal sectors helped Canada’s main stock index gain more than 150 points in late-morning trading, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 157.61 points at 19,972.12. In New York, the Dow Jones industrial average was up 293.11 points at 33,923.72. ... Read More »
Be the first to comment!Cenovus says extreme winter weather affected refinery production
By The Canadian Press on January 9th, 2023
CALGARY – Cenovus Energy Inc. says its refinery throughput for the third quarter of 2022 and the first quarter of 2023 will be weaker than expected. The Calgary-based oil company says extreme winter weather, along with operational issues and third-party pipeline outages, has negatively affected its U.S. and Canadian refining operations. Cenovus says its Lloydminster ... Read More »
Be the first to comment!Bank CEOs say higher credit requirements manageable following regulator boost
By The Canadian Press on January 9th, 2023
TORONTO – Canadian bank CEOs say they’re able to adapt to the higher credit requirements the banking regulator has set in preparation for more uncertain economic times ahead. RBC chief executive Dave McKay says the bank will stay well above the 11 per cent stability buffer requirement even with the pending $13.5-billion acquisition of HSBC ... Read More »
Be the first to comment!TMX Group buys 21% stake in VettaFi Holdings for $234 million
By The Canadian Press on January 9th, 2023
TORONTO – TMX Group Ltd. has signed a deal to buy a 21 per cent stake in VettaFi Holdings LLC for $234 million. U.S.-based VettaFi is a privately owned data, analytics, indexing and digital distribution company. TMX chief operating officer Jay Rajarathinam says the investment includes an agreement that will accelerate TMX’s global index strategy ... Read More »
Be the first to comment!Tilray CEO ‘frustrated’ with ‘slow’ march toward U.S. legalization, reports Q2 loss
By Tara Deschamps, The Canadian Press on January 9th, 2023
Tilray Brands Inc. reported a second-quarter net loss of US$61.6 million in its most recent quarter as it temporarily slowed cannabis production because of the “longer-than-anticipated march toward legalization” in some markets. Among the markets whose timing is hampering the Leamington, Ont. pot company is the U.S., where its chief executive said, “we do not ... Read More »
Be the first to comment!Wall Street opens higher, adding to gains made last week
By Elaine Kurtenbach And Matt Ott, The Associated Press on January 9th, 2023
NEW YORK (AP) – Stocks are opening higher on Wall Street, extending gains from last week when the market posted its first weekly gain in five weeks. Energy stocks were among the biggest winners as crude oil prices rose about 3%. Technology stocks were also higher. Macy’s sank after tempering its sales forecast for its ... Read More »
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