Business
Stocks open lower on Wall Street ahead of Christmas holiday
By Elaine Kurtenbach And Matt Ott, The Associated Press on December 23rd, 2022
NEW YORK (AP) – Stocks are off to a weak start on Wall Street following some mixed news on the economy. The S&P 500 was down 0.5% Friday. The government reported that a key measure of inflation is continuing to slow, though it’s still far higher than anyone wants to see. Also, growth in consumer ... Read More »
1 responseUS futures fall after data shows inflation eased last month
By Elaine Kurtenbach And Matt Ott, The Associated Press on December 23rd, 2022
BANGKOK (AP) – U.S. markets bounced between gains and losses early Friday after a closely-watched gauge of consumer inflation showed that a long surge in consumer prices seems to be easing. Futures for the Dow and S&P briefly shot up after the report was released, but are now down about 0.2% just minutes before the ... Read More »
1 responseAfter a strong year for the economy, 2023 will be shaped by high interest rates
By Nojoud Al Mallees, The Canadian Press on December 23rd, 2022
OTTAWA – The Canadian economy started off the year with a remarkable recovery from the COVID-19 pandemic, but heading in 2023, high interest rates are expected to take a significant toll. “2022 was quite a rollercoaster,” said Randall Bartlett, senior director of Canadian economics at Desjardins. After taking a deep plunge during the pandemic, the ... Read More »
1 responseCanadian economy grew by 0.1% in October, Statistics Canada says
By The Canadian Press on December 23rd, 2022
OTTAWA – The Canadian economy grew slightly in October with the latest reading on real gross domestic product coming in higher than expected. Statistics Canada says the economy grew by 0.1 per cent, outperforming its preliminary estimate that real GDP would remain unchanged for the month. The federal agency says growth in services-producing industries, led ... Read More »
1 responseAn inflation meaasure watched by the Fed eases to 5.5%
By Paul Wiseman, The Associated Press on December 23rd, 2022
WASHINGTON (AP) – A measure of inflation closely watched by the Federal Reserve slowed last month, another sign that a long surge in consumer prices seems to be easing. Friday’s report from the Commerce Department showed that prices rose 5.5% in November from a year earlier, down from a revise 6.1% increase in October. Excluding ... Read More »
1 responseCanadian Press NewsAlert: Statistics Canada says economy grew by 0.1% in October
By The Canadian Press on December 23rd, 2022
OTTAWA – Statistics Canada says real gross domestic product grew by 0.1 per cent in October. The agency also says its early estimate for November indicates real GDP was essentially unchanged for that month. More coming... Read More »
Be the first to comment!Statistics Canada to release October GDP data this morning
By The Canadian Press on December 23rd, 2022
OTTAWA – Statistics Canada is set to release its latest economic reading this morning. The federal agency is expected to release real gross domestic product figures for the month of October. In a preliminary estimate released last month, Statistics Canada said real GDP was essentially unchanged for the month, with the economy neither expanding nor ... Read More »
1 responseP.E.I. budget update: Government revenue up by $240 million, deficit up by $2 million
By The Canadian Press on December 22nd, 2022
CHARLOTTETOWN – Prince Edward Island’s government says its revenues will rise by $238.6 million this fiscal year partly because it is collecting more in taxes than originally estimated. But despite the jump in tax dollars, the province is projecting that its deficit will grow because of spending related to inflation and to the damage caused ... Read More »
1 responseS&P/TSX composite down more than 200 points, U.S. markets also reverse gains
By Rosa Saba, The Canadian Press on December 22nd, 2022
TORONTO – Canada’s main stock index closed down more than 200 points Thursday, pulled down by broad-based losses, while U.S. markets also reversed much of the gains made Wednesday, with the Nasdaq tumbling more than two per cent. The S&P/TSX composite index was down 221.44 points, or 1.13 per cent, at 19,349.66. In New York, ... Read More »
1 responseUS stocks slide as economic data stokes rate hike worries
By Damian J. Troise, Stan Choe And Alex Veiga, The Associated Press on December 22nd, 2022
NEW YORK (AP) – Stocks closed lower on Wall Street as stronger-than-expected reports on the economy caused worries to flare about interest rates staying high. The S&P 500 closed 1.4% lower after being down as much as 2.9% earlier. The Nasdaq fell 2.2% and the Dow gave up 1%. Employers laid off fewer workers than ... Read More »
1 responseSenate passes $1.7 trillion bill to fund gov’t, aid Ukraine
By Kevin Freking, The Associated Press on December 22nd, 2022
WASHINGTON (AP) – The Senate passed a massive $1.7 trillion spending bill Thursday that finances federal agencies through September and provides another large round of aid to Ukraine one day after Ukrainian President Volodymyr Zelenskyy’s dramatic address to a joint meeting of Congress. The bill, which runs for 4,155 pages, includes about $772.5 billion for ... Read More »
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