Business
Wall Street opens lower following pullback in retail sales
By Elaine Kurtenbach And Matt Ott, The Associated Press on December 15th, 2022
NEW YORK (AP) – Stocks are opening lower across the board on Wall Street as traders grapple with a sharp pullback in retail spending last month and new signals from the Federal Reserve that interest rates will need to go higher than previously expected. The S&P 500 was down 1.4% in the early going Thursday, ... Read More »
Be the first to comment!European Central Bank slows rate hikes but vows more ahead
By David Mchugh, The Associated Press on December 15th, 2022
FRANKFURT, Germany (AP) – The European Central Bank slowed its record pace of interest rate hikes only slightly Thursday, joining the U.S. Federal Reserve and other central banks around the world in reinforcing an inflation crackdown while glimpsing headway against the high prices that are plaguing consumers. The ECB, Bank of England and Swiss National ... Read More »
Be the first to comment!Canadian Real Estate Association reports home sales down in November
By The Canadian Press on December 15th, 2022
OTTAWA – The Canadian Real Estate Association says seasonally adjusted home sales were down 3.3 per cent on a month-over-month basis in November. The association says the move lower more than erased the gain seen in October and resumed the overall trend lower for the year. The drop came as the number of newly listed ... Read More »
Be the first to comment!Tesla stock slips as Musk sells another $3.58B of its shares
By The Associated Press on December 15th, 2022
Shares of Tesla are sliding before the market open on Thursday after news broke that CEO Elon Musk sold another $3.58 billion worth of the electric vehicle maker’s stock this week. The stock slipped to $153 in premarket trading and is nearing two-year lows. Musk, the new owner of Twitter, sold the shares from Monday ... Read More »
Be the first to comment!Retail sales drop at start of key holiday shopping season
By Christopher Rugaber And Anne D'innocenzio, The Associated Press on December 15th, 2022
WASHINGTON (AP) – Americans cut back sharply on retail spending last month as the holiday shopping season began amid high prices and rising interest rates that are forcing some families, particularly lower income households, to cut back on what they buy. Retail sales fell 0.6% from November to December after a sharp 1.3% rise the ... Read More »
Be the first to comment!CMHC reports annual pace of housing starts edged lower in November
By The Canadian Press on December 15th, 2022
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in November edged down 0.2 per cent compared with October. The national housing agency says the seasonally adjusted annual rate of housing starts in November was 264,159 units, down from 264,581 in October. The result came as the annual pace of ... Read More »
Be the first to comment!Retail sales slip at start of key holiday shopping season
By Christopher Rugaber, The Associated Press on December 15th, 2022
WASHINGTON (AP) – Americans cut back on retail spending last month as the holiday shopping season began amid high prices and rising interest rates that are forcing some families, particularly those with lower incomes, to cut back on what they buy. The government said Thursday that retail sales fell 0.6% from November to December, after ... Read More »
Be the first to comment!European Central Bank joins Fed in easing pace of rate hikes
By David Mchugh, The Associated Press on December 15th, 2022
FRANKFURT, Germany (AP) – The European Central Bank slowed its record pace of interest rate hikes only slightly Thursday, joining the U.S. Federal Reserve and other central banks around the world in reinforcing an inflation crackdown while glimpsing headway against the high prices that are plaguing consumers. The Bank of England and Swiss National Bank ... Read More »
Be the first to comment!European Central Bank slows pace of interest rate hikes
By David Mchugh, The Associated Press on December 15th, 2022
FRANKFURT, Germany (AP) – The European Central Bank slowed its record pace of interest rate hikes only slightly Thursday, joining the U.S. Federal Reserve and other central banks around the world in reinforcing an inflation crackdown while glimpsing headway against the high prices that are plaguing consumers. The Bank of England and Swiss National Bank ... Read More »
Be the first to comment!Carlsberg Group buying Waterloo Brewing for $144 million in cash
By The Canadian Press on December 15th, 2022
KITCHENER, Ont. – Waterloo Brewing Ltd. has signed a deal to be bought by the Carlsberg Group for $144 million. Under the agreement, Carlsberg has agreed to pay $4.00 in cash for each Waterloo Brewing share. Waterloo Brewing shares closed at $3.35 on the Toronto Stock Exchange before the deal was announced late Wednesday. Waterloo ... Read More »
Be the first to comment!Transat reports $126.2M fourth-quarter loss and $573.1M revenue
By The Canadian Press on December 15th, 2022
MONTREAL – Travel company Transat A.T. Inc. reported a fourth-quarter net loss attributable to shareholders of $126.2 million compared with a loss of $121.3 million in the same quarter last year. The parent company of Air Transat says the loss amounted to $3.32 per diluted share for the quarter ended Oct. 31 compared with a ... Read More »
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