Business
Experts share tips for young Canadians finding themselves in debt for the first time
By Caitlin Yardley, The Canadian Press on December 20th, 2022
MONTREAL – While enrolled in university, Eloho Orogun was approached on campus to apply for a $500 student credit card, advertised as a means to improve his credit score. Met with a self-described shopping problem, it was not long before Orogun opened a second student card with a larger limit. “The more money I had, ... Read More »
1 responseStocks open lower on Wall Street, continuing a weak patch
By Joe Mcdonald And Matt Ott, The Associated Press on December 20th, 2022
NEW YORK (AP) – Stocks are opening mostly lower on Wall Street and bond yields are rising globally after the Bank of Japan surprised investors by raising an upper limit for yields on Japanese government bonds. The move, which amounted to an interest rate increase, sent markets lower in Japan and the rest of Asia ... Read More »
Be the first to comment!Nova Scotia’s latest budget forecast calls for smaller-than-expected deficit
By The Canadian Press on December 20th, 2022
HALIFAX – Nova Scotia’s finance minister says the province is expected to end its fiscal year in the red, but the projected size of the deficit for 2022-23 will be smaller than expected. Allan MacMaster made the prediction today as he presented a budget update that forecasts a deficit of $142.6 million for the fiscal ... Read More »
Be the first to comment!Statistics Canada says retail sales up 1.4 per cent at $62 billion in October
By The Canadian Press on December 20th, 2022
OTTAWA – Statistics Canada says retail sales in October posted their largest increase in five months, led higher by gains at gasoline stations and food and beverage stores. The agency says retail sales increased 1.4 per cent to $62.0 billion in October. However, Statistics Canada also says that its preliminary estimate points to 0.5 per ... Read More »
Be the first to comment!In a surprise move, Bank of Japan loosens bond yield cap
By Associated Press, The Associated Press on December 20th, 2022
The Bank of Japan broadened caps for government bond yields, a surprise move that pushed bond yields higher globally and dinged stocks in Asia. The central bank on Tuesday said that it would allow the yield curve on the Japanese Government Bond to range 50 basis points either side of its 0% target, up from ... Read More »
Be the first to comment!Imperial Oil plans $1.7 billion in capital spending in 2023
By The Canadian Press on December 20th, 2022
CALGARY – Imperial Oil Ltd. is planning $1.7 billion in capital spending for next year. The company says the plan includes a ramp-up for its Strathcona renewable diesel project, application of solvent technologies at Cold Lake and ongoing investment on an in-pit tailings project at its Kearl oilsands facility. Brad Corson, Imperial’s chairman, president and ... Read More »
Be the first to comment!Magna International to buy Veoneer’s active safety business for US$1.525 billion
By The Canadian Press on December 20th, 2022
TORONTO – Magna International Inc. has signed a deal to buy Veoneer’s active safety business from investment firm SSW Partners for US$1.525 billion in cash. The Ontario auto parts company says the deal adds significant engineering resources and expands its advanced driver assistance systems customer base and geographic diversification. The acquisition will add 2,200 engineers, ... Read More »
Be the first to comment!Amazon to make big business changes in EU settlement
By Associated Press, The Associated Press on December 20th, 2022
Amazon has agreed to make major changes to its business practices to settle antitrust investigations that found the ecommerce giant gave itself an unfair advantage over rival merchants, European Union regulators said Tuesday. Amazon promised to give products from rival sellers equal visibility in the “buy box,” a premium piece of real estate on its ... Read More »
Be the first to comment!Employers boosting fertility treatment benefits but critics say provinces can do more
By Camille Bains, The Canadian Press on December 20th, 2022
More companies are offering or boosting coverage for fertility treatments as they fill a void left by Canada’s health-care system, which provides limited coverage in most of the country for people trying to have a baby. Several big banks have hiked coverage this year for reproductive procedures and some also provide for surrogacy expenses as ... Read More »
Be the first to comment!‘A long time coming’: Unifor’s new president on where workers stand in 2023
By Rosa Saba, The Canadian Press on December 20th, 2022
TORONTO – The new president of Canada’s largest private-sector union is looking to pave a new path heading into 2023 after a year filled with economic uncertainty and worker strikes, all on top of a months-long scandal that shook members’ trust. “I have a lot to offer in terms of the direction that I think ... Read More »
Be the first to comment!Teck to sell closed Quintette mine to Conuma Resources for $120M, plus royalties
By The Canadian Press on December 19th, 2022
VANCOUVER – Teck Resources Limited says it has reached a deal to sell its closed Quintette steelmaking coal mine in northeast British Columbia to Conuma Resources Ltd. Teck says Conuma Resources will pay $120 million in cash for the mine, plus an ongoing 25 per cent net profits interest royalty payable after Conuma recovers its ... Read More »
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