Business
Montreal home sales in December fall 39% compared with year ago: Quebec board
By The Canadian Press on January 5th, 2023
MONTREAL – The Quebec Professional Association of Real Estate Brokers says home sales in Montreal last month fell 39 per cent from a year earlier to a level not seen in December since 2014. The real estate organization says sales for the month amounted to 2,232 and contributed to a 2022 sales total of 21,371, ... Read More »
Be the first to comment!Statistics Canada reports $41M merchandise trade deficit for November
By The Canadian Press on January 5th, 2023
OTTAWA – Canada’s merchandise trade balance slipped into a small deficit in November as energy exports fell amid lower prices, Statistics Canada said Thursday. The agency said trade balance came in at a deficit of $41 million for November compared with a revised surplus of $130 million in October. CIBC senior economist Andrew Grantham said ... Read More »
Be the first to comment!Sunwing ‘incredibly sorry’ after holiday travel disruptions leave customers stranded
By The Canadian Press on January 5th, 2023
TORONTO – Sunwing has issued an apology to passengers left stranded after winter storms upended operations but says “most of our customers enjoyed their holidays with minimal disruption.” In a joint statement, Sunwing Travel Group CEO Stephen Hunter and Sunwing Airlines president Len Corrado say they are “incredibly sorry for letting our customers down.” The ... Read More »
Be the first to comment!Consumer insolvencies in November reach highest number since pandemic began
By The Canadian Press on January 5th, 2023
Consumer insolvencies were up 16.3 per cent in November 2022 compared with the same month the year prior, and business insolvencies were up 58.3 per cent. Meanwhile, consumer insolvencies for the 12-month period ended Nov. 30, 2022 were up 9.5 per cent compared with a year earlier. Business insolvencies for the 12-month period were up ... Read More »
Be the first to comment!German regulator: winter gas shortage increasingly unlikely
By The Associated Press on January 5th, 2023
BERLIN (AP) – Germany’s network regulator said Thursday that a gas shortage is “increasingly unlikely” this winter, but cautioned that it remains important to use the fuel sparingly. The Federal Network Agency said in its daily report that it views the situation as “less tight than at the beginning of the winter.” It had described ... Read More »
Be the first to comment!Consumer insolvencies rose 16 per cent year over year in November
By The Canadian Press on January 5th, 2023
Consumer insolvencies were up 16.3 per cent in November 2022 compared with the same month the year prior, and business insolvencies were up 58.3 per cent. Meanwhile, consumer insolvencies for the 12-month period ended Nov. 30, 2022 were up 9.5 per cent compared with a year earlier. Business insolvencies for the 12-month period were up ... Read More »
Be the first to comment!S&P/TSX composite down more than 150 points, U.S. stock markets also lower
By The Canadian Press on January 5th, 2023
TORONTO – Canada’s main stock index was down more than 150 points in late-morning trading as losses in the financial, technology and utility sectors helped lead the way lower and U.S. stock markets also pulled back. The S&P/TSX composite index was down 155.37 points at 19,433.46. In New York, the Dow Jones industrial average was ... Read More »
Be the first to comment!CIBC agrees to settle overtime class-action lawsuit, will pay $153 million
By The Canadian Press on January 5th, 2023
TORONTO – CIBC has agreed to pay a total of $153 million to settle a class-action lawsuit filed more than a decade ago over the bank’s overtime policies, lawyers for the plaintiffs say. Dara Fresco, a former CIBC teller and class counsel, brought this case in 2007. The Ontario Court of Appeal dismissed last year ... Read More »
Be the first to comment!Don’t neglect bonds this year despite tough 2022, experts say
By Craig Wong, The Canadian Press on January 5th, 2023
OTTAWA – Bond portfolios took a beating in 2022 as interest rates climbed, but experts say investors shouldn’t neglect bonds this year as the Bank of Canada nears the end of its rate hike cycle. Christine Tan, assistant vice-president portfolio management at SLGI Asset Management Inc., said high quality bonds is where she’s looking for ... Read More »
Be the first to comment!Another hot reading on job market sends Wall Street lower
By Yuri Kageyama And Matt Ott, The Associated Press on January 5th, 2023
NEW YORK (AP) – Stocks are opening broadly lower on Wall Street and Treasury yields are rising after another hot reading on the job market raised worries that the Federal Reserve will need to continue inflicting pain on the economy in order to fight inflation. The S&P 500 was down 1.2% in the early going ... Read More »
Be the first to comment!Precision Drilling beats debt reduction goal for 2022
By The Canadian Press on January 5th, 2023
CALGARY – Precision Drilling Corp. says it has beat its debt reduction goal for 2022. The company says it reduced its total debt by C$106 million in 2022, exceeding its C$75-million debt reduction goal. As of Dec. 31, 2022, the company says its outstanding debt included US$44 million for a senior credit facility due June ... Read More »
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