Business
Fed minutes: Officials cited strong hiring to justify hikes
By Christopher Rugaber, The Associated Press on January 4th, 2023
WASHINGTON (AP) – Federal Reserve officials suggested at their most recent meeting that a continuing streak of robust hiring could keep inflation elevated and was a key reason why they expected to raise interest rates this year more than they had previously forecast. In the minutes of their mid-December meeting released Wednesday, the officials indicated ... Read More »
Be the first to comment!Feds: Lack of safeguards led to Superior refinery explosion
By The Associated Press on January 4th, 2023
MADISON, Wis. (AP) – Federal regulators have determined that a lack of safeguards during a maintenance shutdown led to a 2018 explosion at an oil refinery in Superior. The U.S. Chemical Safety Board released a final report last week on the April 2018 explosion at the refinery, Wisconsin Public Radio reported Wednesday. Calgary-based Husky Energy ... Read More »
Be the first to comment!Half of Canadian workers to seek new job in 2023 in hunt for better pay, perks: poll
By The Canadian Press on January 4th, 2023
TORONTO – New research suggests half of Canadians workers plan to look for a new job in 2023, a nearly twofold increase from a year ago. A survey by recruitment firm Robert Half conducted in the fall found 50 per cent of respondents indicated they planned to search for a new job in the next ... Read More »
Be the first to comment!Vancouver’s December home sales down 52% from year ago: B.C. real estate board
By The Canadian Press on January 4th, 2023
VANCOUVER – The Greater Vancouver Real Estate Board says home sales and prices continued their fall in December, dropping by 52 per cent and three per cent respectively from a year ago. The B.C. board says last month’s sales totalled 1,295, about 20 per cent lower than they were in November and 38 per cent ... Read More »
Be the first to comment!Meta fined 390M euros in latest European privacy crackdown
By Kelvin Chan, The Associated Press on January 4th, 2023
LONDON (AP) – European Union regulators on Wednesday hit Facebook parent Meta with hundreds of millions in fines for privacy violations and banned the company from forcing users in the 27-nation bloc to agree to personalized ads based on their online activity. Ireland’s Data Protection Commission imposed two fines totaling 390 million euros ($414 million) ... Read More »
Be the first to comment!Financial and tech stocks help lift S&P/TSX composite, energy down as oil falls
By The Canadian Press on January 4th, 2023
TORONTO – Strength in the financial and technology sectors helped lead Canada’s main stock index higher in late-morning trading despite weakness in energy stocks as the price of oil fell. The S&P/TSX composite index was up 91.66 points at 19,535.43. In New York, the Dow Jones industrial average was up 68.89 points at 33,205.26. The ... Read More »
Be the first to comment!Ireland fines Meta 390M euros in latest privacy crackdown
By The Associated Press on January 4th, 2023
LONDON (AP) – Irish regulators on Wednesday hit Facebook parent Meta with hundreds of millions in fines for online privacy violations and banned the company from forcing European users to agree to personalized ads based on their online activity. Ireland’s Data Protection Commission imposed two fines totaling 390 million euros ($414 million) in its decision ... Read More »
Be the first to comment!US job openings fell slightly in November yet still high
By Christopher Rugaber, The Associated Press on January 4th, 2023
WASHINGTON (AP) – U.S. job openings slipped in November but remained high suggesting businesses remain determined to add workers, a blow to the Federal Reserve’s efforts to cool hiring and wage gains. There were 10.46 million job vacancies on the last day of November, down slightly from 10.51 million in October, the Labor Department said ... Read More »
Be the first to comment!Technology stocks lead Wall Street higher in early trading
By Joe Mcdonald And Matt Ott, The Associated Press on January 4th, 2023
NEW YORK (AP) – Stocks are opening higher on Wall Street, led by gains in the tech sector, which has been taking a beating over the past year. Salesforce rose nearly 4% in the early going Wednesday after becoming the latest tech company to announce layoffs. The company, a member of the Dow Jones Industrial ... Read More »
Be the first to comment!CIBC to appeal New York court liability ruling in Cerberus lawsuit
By The Canadian Press on January 4th, 2023
TORONTO – CIBC says it will appeal a New York court decision finding the Canadian bank liable for damages in a lawsuit brought by Cerberus Capital Management LP. The bank says it expects the total amount of damages, inclusive of prejudgment interest, will be about US$848 million through to Dec. 1, 2022. CIBC says it ... Read More »
Be the first to comment!Aurora Cannabis closes sale of Aurora Polaris facility for $15M in gross proceeds
By The Canadian Press on January 4th, 2023
EDMONTON – Aurora Cannabis Inc. says it has closed the sale of its Aurora Polaris facility. The company says gross proceeds from the sale totalled about $15 million. Aurora announced in 2021 that it would close the Alberta property as part of a plan to streamline its operations. It said at the time that the ... Read More »
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