Business
Wall Street tumbles, Dow down 700 on worries about rates
By Damian J. Troise And Stan Choe, The Associated Press on December 22nd, 2022
NEW YORK (AP) – Worries about higher interest rates are pummeling Wall Street Thursday, and the Dow Jones Industrial Average is tumbling more than 700 points, following some stronger-than-expected reports on the U.S. economy. The S&P 500 was 2.7% lower in afternoon trading, bringing Wall Street’s main measure of health back to a loss of ... Read More »
Be the first to comment!FTX founder Bankman-Fried allowed $250M bond, house arrest
By Larry Neumeister, The Associated Press on December 22nd, 2022
NEW YORK (AP) – The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents’ home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said Thursday. Assistant U.S. Attorney Nicolas Roos said in U.S. District Court ... Read More »
1 responseFTX founder Bankman-Fried to make 1st US court appearance
By Larry Neumeister, The Associated Press on December 22nd, 2022
NEW YORK (AP) – The cryptocurrency entrepreneur Sam Bankman-Fried was expected to make his initial U.S. court appearance Thursday on charges that he swindled investors and looted customer deposits on his FTX trading platform. Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after deciding not to challenge his extradition. ... Read More »
1 responseStatistics Canada says job vacancies down in October, lowest level since August 2021
By The Canadian Press on December 22nd, 2022
OTTAWA – Statistics Canada says the number job vacancies fell by 4.8 per cent in October to their lowest level since August 2021. The agency says the number of job vacancies fell by 44,300 to 871,300 in October. The month-over-month drop came as vacancies in the construction sector fell 17,200 or 20.4 per cent and ... Read More »
1 responseHow to protect yourself against ‘renoviction’ as rental markets heat up
By Amanda Stephenson, The Canadian Press on December 22nd, 2022
CALGARY – With Canada’s already-hot rental market expected to come under even more pressure in 2023, experts say tenants should guard against “renoviction” by educating themselves about their rights. The term renoviction is used to describe a situation when a landlord cites the need for major renovations as the reason behind an eviction. While most ... Read More »
1 responseOttawa says no to Glencore’s Sukunka open-pit coal mine project in B.C.
By The Canadian Press on December 22nd, 2022
OTTAWA – The federal government is blocking development of Glencore’s Sukunka open-pit metallurgical coal mine project located near Tumbler Ridge, B.C. Environment Minister Steven Guilbeault says the scientific evidence gathered in assessing the proposal showed that its negative impacts were significant and could not be mitigated. The project assessment by British Columbia raised concerns about ... Read More »
Be the first to comment!Boxing Day sales start early to woo customers after lacklustre Black Friday
By Brett Bundale, The Canadian Press on December 22nd, 2022
Stores in Canada are gearing up for Boxing Day sales, with some rolling out deals early in the hopes of enticing budget-conscious shoppers. The Canadian promotional retail event has been overshadowed in recent years by its American counterpart, Black Friday. But experts say Black Friday and Cyber Monday sales fell short of expectations last month, ... Read More »
Be the first to comment!The year in markets: stocks and bonds both tumbled in ‘perfect storm’
By Craig Wong, The Canadian Press on December 22nd, 2022
OTTAWA – Investors had few places to hide this year. As of closing Wednesday, Canada’s main stock index has dropped 12 per cent from the all-time high it hit in the spring. Bond markets, which typically move in the opposite direction to stocks, also fell sharply after central banks around the world aggressively raised interest ... Read More »
Be the first to comment!Superior Plus buying Certarus in deal worth $1.05 billion including debt
By The Canadian Press on December 22nd, 2022
TORONTO – Superior Plus Corp. has signed a deal to buy Certarus Ltd., a privately owned distributor of compressed natural gas, renewable natural gas and hydrogen, in a deal valued at $1.05 billion including debt. Superior Plus CEO Luc Desjardins says the acquisition is a strategic and transformative transaction for the company, which is a ... Read More »
Be the first to comment!US economy grew 3.2% in Q3, an upgrade from earlier estimate
By Paul Wiseman, The Associated Press on December 22nd, 2022
WASHINGTON (AP) – Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a healthy upgrade from its earlier estimate of third-quarter growth. The rise in gross domestic product – the economy’s output in goods and services ... Read More »
Be the first to comment!Alimentation Couche-Tard buying U.S. company True Blue Car Wash
By The Canadian Press on December 22nd, 2022
LAVAL, Que. – Alimentation Couche-Tard Inc. has signed a deal to buy all of the membership interests of U.S. company True Blue Car Wash LLC. Financial terms of the agreement for the operator of car wash sites under the Clean Freak and Rainstorm banners were not immediately available. Couche-Tard CEO Brian Hannasch says True Blue ... Read More »
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