Business
Stores roll out Boxing Day sales early to woo customers after lacklustre Black Friday
By The Canadian Press on December 22nd, 2022
TORONTO – Stores in Canada are gearing up for Boxing Day sales, with many 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 late last month fell ... Read More »
Be the first to comment!Associates of FTX founder plead guilty to criminal charges
By Ken Sweet And Rebecca Blackwell (), The Associated Press on December 21st, 2022
NASSAU, Bahamas (AP) – A federal prosecutor says two associates of Sam Bankman-Fried have pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange FTX. Carolyn Ellison, the former CEO of Alameda Research, a trading firm started by Bankman-Fried, and Gary Wang, who co-founded FTX along with Bankman-Fried, pleaded guilty to charges ... Read More »
1 responseBahamas hands over FTX founder to the US to face charges
By Ken Sweet And Rebecca Blackwell (), The Associated Press on December 21st, 2022
NASSAU, Bahamas (AP) – Bahamian authorities said Wednesday that former FTX CEO Sam Bankman-Fried has been extradited to the United States, where he faces criminal charges related to the collapse of the cryptocurrency exchange. Bahamas’s attorney general’s office said that Bankman-Fried would be leaving for the United States later Wednesday, noting he had waived his ... Read More »
1 responseB.C. pauses electricity connections for crypto mining, citing ‘massive’ consumption
By The Canadian Press on December 21st, 2022
VICTORIA – The British Columbia government is temporarily suspending requests for electricity connections from cryptocurrency mining operations, saying the decision is aimed at preserving the power supply while supporting climate action and economic goals. A statement from the Ministry of Energy, Mines and Low Carbon Innovation says 21 cryptocurrency projects are requesting a total of ... Read More »
1 responseS&P/TSX composite up 1.4 per cent, U.S. markets also rise
By The Canadian Press on December 21st, 2022
TORONTO – Canada’s main stock index gained almost 1.4 per cent Wednesday with broad-based gains, particularly in energy, while U.S. markets rose further. The S&P/TSX composite index was up 264.21 points at 19,571.1. In New York, the Dow Jones industrial average was up 526.74 points at 33,376.48. The S&P 500 index was up 56.82 points ... Read More »
1 responseWall Street gains ground, turning higher for the week
By Damian J. Troise And Alex Veiga, The Associated Press on December 21st, 2022
NEW YORK – Stocks rose on Wall Street, lifting major indexes into the green for the week as investors welcomed a report showing consumer confidence is holding up better than expected. That’s despite the Federal Reserve’s campaign to fight inflation by reining in the economy with sharp increases in interest rates. The S&P 500 index ... Read More »
1 responseFTX founder agrees to extradition, expected to fly to US
By Ken Sweet, The Associated Press on December 21st, 2022
NEW YORK (AP) – Sam Bankman-Fried told a Bahamian court Wednesday that he has agreed to be extradited to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX. The former FTX CEO appeared at a Magistrate’s Court and is expected to head to Odyssey Aviation to return to the United ... Read More »
1 responseNova Scotia Power bond rating downgraded by credit rating agency DBRS Morningstar
By The Canadian Press on December 21st, 2022
HALIFAX – A prominent credit rating agency has downgraded the bonds of Nova Scotia’s electrical utility amid the company’s conflicts with the provincial government. In an announcement published on Tuesday, DBRS Morningstar dropped the rating one notch to BBB high from A low of Nova Scotia Power, an Emera Inc. subsidiary. The agency says the ... Read More »
1 responseFTX founder could be sent to US after extradition hearing
By Ken Sweet, The Associated Press on December 21st, 2022
NEW YORK (AP) – Sam Bankman-Fried is back in a Bahamian court Wednesday for an extradition hearing that could clear the way for the one-time billionaire to be sent to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX. In a court in Nassau, Bahamas, on Monday, Bankman-Fried’s lawyers said ... Read More »
1 responseFood prices in Canada rise at faster pace than overall inflation, 12 months in a row
By The Canadian Press on December 21st, 2022
OTTAWA – New figures show grocery inflation in Canada surged again in November as the price of basics like bread, eggs and dairy products shot up. Statistics Canada says prices for food purchased from stores rose 11.4 per cent last month compared with a year ago, up from an 11 per cent gain in October. ... Read More »
1 responseInflation rate falls slightly in November even as grocery, shelter costs rise rapidly
By Nojoud Al Mallees, The Canadian Press on December 21st, 2022
OTTAWA – Canada’s annual inflation rate edged down slightly to 6.8 per cent in November, but that’s little relief for Canadians who are facing rapidly rising grocery and shelter costs. In its latest consumer price index report released Wednesday, Statistics Canada said slower price growth for gasoline and furniture last month was offset by rapidly ... Read More »
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