Business
Stocks lose ground on Wall Street, extending weekly losses
By Damian J. Troise, The Associated Press on December 16th, 2022
NEW YORK (AP) – Stocks fell on Wall Street Friday as worries grow that the Federal Reserve and other central banks are willing to bring on a recession if that’s what it takes to get inflation under control. The S&P 500 shed 1% as of 10:08 a.m. Eastern and is headed for its second straight ... Read More »
1 responseHexo reports $52.1M net loss in Q2, announces share consolidation
By The Canadian Press on December 16th, 2022
GATINEAU, Que. – Hexo Corp. says its most recent quarter delivered a $52.1 million net loss as the cannabis company purged unprofitable products and streamlined its business. The Gatineau, Que.-based firm’s first quarter net loss compared with a net loss of more than $116.9 million a year earlier. The loss for the period ended Oct. ... Read More »
1 responseStocks open lower on Wall Street, extending weekly losses
By Elaine Kurtenbach And Matt Ott, The Associated Press on December 16th, 2022
NEW YORK (AP) – Stocks are off to a weak start on Wall Street as worries grow that the Federal Reserve and other central banks are willing to bring on a recession if that’s what it takes to get inflation under control. The S&P 500 fell 0.5% in the early going Friday. The Dow and ... Read More »
1 responseFirst Quantum disappointed by government order to suspend work at Cobre Panama mine
By The Canadian Press on December 16th, 2022
TORONTO – First Quantum Minerals Ltd. says it is disappointed by a decision by the Panamanian government to order the suspension of work at its Cobre Panama mine. The order came after the company and government failed to reach an agreement on a new profit-sharing agreement for the mine. First Quantum says the government is ... Read More »
1 responseStatistics Canada says wholesale sales up 2.1 per cent in October
By The Canadian Press on December 16th, 2022
OTTAWA – Statistics Canada says wholesale sales rose 2.1 per cent to $83.4 billion in October, boosted by gains in the miscellaneous goods, building material and supplies, and personal and household goods subsectors. The agency says sales were up in six of the seven subsectors it tracks. Sales for the miscellaneous goods subsector gained 5.5 ... Read More »
1 responseTwitter suspends journalists who wrote about owner Elon Musk
By Matt O'brien, The Associated Press on December 16th, 2022
Twitter suspended the accounts of several journalists who cover the social media platform, the latest battle over what can and cannot be said on the site since billionaire Elon Musk took control of it. Accounts of reporters with The New York Times, Washington Post, CNN, Voice of America and other publications, went dark Thursday. The ... Read More »
Be the first to comment!California approves roadmap for carbon neutrality by 2045
By Sophie Austin, The Associated Press on December 15th, 2022
SACRAMENTO, Calif. (AP) – California air regulators voted Thursday to approve an ambitious plan to drastically reduce reliance on fossil fuels by changing practices in the energy, transportation and agriculture sectors, but critics say it doesn’t go far enough to combat climate change. The plan sets out to achieve so-called carbon neutrality by 2045, meaning ... Read More »
1 responseS&P/TSX down 1.5 per cent, U.S. markets fall further one day after Fed hikes rates
By The Canadian Press on December 15th, 2022
TORONTO – Canada’s main stock index fell by almost 1.5 per cent Thursday with broad-based declines, while U.S. stock markets fell even further a day after the U.S. Federal Reserve raised its key interest rate and said it expects rates still needed to go higher. The S&P/TSX composite index was down 291.02 points at 19,600.63. ... Read More »
1 responseUS stocks sink as Fed signals it will remain aggressive
By Damian J. Troise And Alex Veiga, The Associated Press on December 15th, 2022
NEW YORK – Stocks tumbled in the U.S. and Europe as investors grew increasingly concerned that the Federal Reserve and other central banks are willing to risk a recession to bring inflation under control. The S&P 500 fell 2.5% Thursday, erasing its gains from early in the week. The tech-heavy Nasdaq composite lost 3.2% and ... Read More »
1 responseSobeys parent company Empire says cyberattack expected to cost $25M after insurance
By Brett Bundale, The Canadian Press on December 15th, 2022
Sobeys parent company Empire Co. Ltd. has shared new details on a cyberattack that shut down its pharmacy services and other in-store functions last month. The security breach in early November left customers unable to fill prescriptions for four days, while other in-store functions like self-checkout machines, gift card use and the redemption of loyalty ... Read More »
1 responseShell Canada snapping up gas stations in preparation for energy transition
By The Canadian Press on December 15th, 2022
CALGARY – Shell Canada says its purchase of 56 gas stations from the parent company of Sobeys is part of Shell’s long-term plan to grow its network of retail fuel stations across the country. The two companies announced Thursday that Shell will acquire the gas stations from Sobeys parent Empire Co. Ltd. for about $100 ... Read More »
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