Business
Wall Street rallies on rate hopes, notches gain for the week
By Stan Choe And Alex Veiga, The Associated Press on January 6th, 2023
NEW YORK – Wall Street rallied amid hopes inflation may continue to cool and the Federal Reserve may ease up on its interest rate hikes following some mixed readings on the U.S. economy. The S&P 500 shook off a shaky start and closed 2.3% higher Friday, marking its first winning week in the last five. ... Read More »
1 responseFeds must enforce vaping penalties to protect kids: advocates
By Laura Osman, The Canadian Press on January 6th, 2023
OTTAWA – Advocates on both sides of the vaping debate say the government must do more to enforce penalties for selling vapes to kids after a review concluded no changes to the legislation were warranted. The Tobacco and Vaping Products Act aims to walk the narrow the line between giving people who smoke a safer ... Read More »
1 responseAlzheimer’s drug that modestly slows disease OK’d by FDA
By Matthew Perrone, The Associated Press on January 6th, 2023
WASHINGTON (AP) – U.S. health officials on Friday approved a closely watched Alzheimer’s drug that modestly slows the brain-robbing disease, albeit with potential safety risks that patients and their doctors will have to carefully weigh. The drug, Leqembi, is the first that’s been convincingly shown to slow the decline in memory and thinking that defines ... Read More »
1 responseTight labour market means rise in gig work unlikely during recession: economists
By Rosa Saba, The Canadian Press on January 6th, 2023
Economists say the expected economic slowdown in 2023 may not result in higher levels of gig work, unlike previous recessions when levels of contract work and self-employment spiked. They say the tight labour market, combined with a changing workforce and stubborn inflation, will make this recession different from those that preceded it. “This is a ... Read More »
1 responseLabour market posts one last surprise for 2022, adds 104,000 jobs in December
By Nojoud Al Mallees, The Canadian Press on January 6th, 2023
OTTAWA – The Canadian labour market ended the year on a strong note as the economy added a whopping 104,000 jobs in December, showing no signs of the slowdown many economists have been anticipating. Statistics Canada reported Friday the unemployment rate fell slightly to 5.0 per cent last month. This marks the third decline in ... Read More »
1 responseGlobal food prices in 2022 hit record high amid drought, war
By The Associated Press on January 6th, 2023
ROME (AP) – Global prices for food commodities like grain and vegetable oils were the highest on record last year even after falling for nine months in a row, the U.N. Food and Agriculture Organization said, as Russia’s war in Ukraine, drought and other factors drove up inflation and worsened hunger worldwide. The FAO Food ... Read More »
1 responseLabour market kept roaring to end off the year with 104,000 jobs added in December
By Nojoud Al Mallees, The Canadian Press on January 6th, 2023
OTTAWA – The Canadian economy added 104,000 jobs in December as the unemployment rate fell slightly to 5.0 per cent, Statistics Canada said Friday. This marks the third decline in the unemployment rate in fourth months, edging it closer to the record-low of 4.9 per cent reached in June and July. “You always have to ... Read More »
Be the first to comment!Stocks edge higher following signs of wage growth cooling
By Yuri Kageyama, The Associated Press on January 6th, 2023
NEW YORK (AP) – Stocks are opening mostly higher on Wall Street and Treasury yields are falling on hopes that the nation’s high inflation will keep cooling after a mixed report on the job market showed that gains for workers’ pay unexpectedly slowed last month. The S&P 500 rose 0.2% early Friday, the Dow Jones ... Read More »
Be the first to comment!Cooler hiring and milder pay gains could aid inflation fight
By Christopher Rugaber, The Associated Press on January 6th, 2023
WASHINGTON (AP) – America’s employers added a solid 223,000 jobs in December, evidence that the economy remains healthy even as the Federal Reserve is rapidly raising interest rates to try to slow economic growth and the pace of hiring. With companies continuing to add jobs across the economy, the unemployment rate fell from 3.6% to ... Read More »
Be the first to comment!Here’s a quick glance at unemployment rates for December, by Canadian city
By The Canadian Press on January 6th, 2023
OTTAWA – The national unemployment rate held steady at 5.0 per cent in December. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers ... Read More »
Be the first to comment!Here’s a quick glance at unemployment rates for December, by province
By The Canadian Press on January 6th, 2023
OTTAWA – Canada’s national unemployment rate held steady at 5.0 per cent in December. Here are the jobless rates last month by province (numbers from the previous month in brackets): _ Newfoundland and Labrador 10.1 per cent (10.7) _ Prince Edward Island 5.6 per cent (6.8) _ Nova Scotia 6.7 per cent (6.0) _ New ... Read More »
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