Business
Bank of England hikes interest rates again but softens pace
By The Associated Press on December 15th, 2022
LONDON (AP) – Britain’s central bank on Thursday raised its key interest rate increase again but toned down the pace as inflation shows signs of easing, mirroring action by the U.S. Federal Reserve and ahead of an anticipated identical move by European policymakers. The Bank of England raised the benchmark rate by half a percentage ... Read More »
Be the first to comment!Empire selling gas stations in Western Canada, reports Q2 profit up from year ago
By The Canadian Press on December 15th, 2022
STELLARTON, N.S. – Empire Co. Ltd. announced a deal to sell its 56 gas stations in Western Canada to a subsidiary of Shell Canada for about $100 million in cash. The sale came as the parent company of Sobeys reported it earned $189.9 million in its latest quarter, up from $175.4 million in the same ... Read More »
Be the first to comment!Six-month COVID-19 vaccine delay would have cost $156B: study
By Kelly Geraldine Malone, The Canadian Press on December 15th, 2022
A study from the C.D. Howe Institute estimates Canada would have lost $156 billion in economic activity in 2021 had COVID-19 vaccines been rolled out six months later than they were. That would have been equivalent to about 12.5 per cent of Canada’s gross domestic product. “The results show that vaccination was highly beneficial to ... Read More »
Be the first to comment!Taynton Bay Spirits pickle vodka recalled over high levels of copper
By The Canadian Press on December 15th, 2022
The Canadian Food Inspection Agency has issued a recall for Taynton Bay Spirits pickle vodka due to high levels of copper. The affected product was sold in 750 millilitre bottles in British Columbia, Alberta and online. It may also have been distributed nationally. The Canadian Food Inspection Agency says there have been illnesses reported with ... Read More »
Be the first to comment!World shares decline after Fed warns of higher rates to come
By Elaine Kurtenbach, The Associated Press on December 15th, 2022
BANGKOK (AP) – Shares skidded in Europe and Asia on Thursday after a retreat on Wall Street by investors dismayed over the Federal Reserve’s warning that still more interest rate hikes are in store following its latest increase. Oil prices fell and U.S. futures also dropped. The declines followed the U.S. Federal Reserve’s hike in ... Read More »
Be the first to comment!Financial intelligence agency tracking signs of homegrown terrorism financing
By Jim Bronskill, The Canadian Press on December 15th, 2022
OTTAWA – Efforts by Canada’s financial intelligence agency over the last three years uncovered activity related to homegrown terrorism, the bankrolling of international terrorist groups and attempts by Canadians to take part in extremism abroad. Those three main themes emerge from the Financial Transactions and Reports Analysis Centre of Canada’s review of its intelligence disclosures ... Read More »
Be the first to comment!Canada’s banking regulator to make announcement on mortgage stress test
By The Canadian Press on December 15th, 2022
OTTAWA – Canada’s banking regulator is expected to make an announcement regarding the interest rate used in a key stress test for uninsured mortgages this morning. As inflation remains hot, the cost of borrowing has skyrocketed for Canadians. The Bank of Canada has hiked its key interest rate seven consecutive times since March, bringing it ... Read More »
Be the first to comment!Ex-CannTrust execs to keep seeking acquittal after OSC says no prospect of conviction
By The Canadian Press on December 15th, 2022
TORONTO – Lawyers for three former cannabis leaders charged with offences linked to unlicensed growing are expected to continue seeking an acquittal for their clients in court today. The lawyers’ request was first made Wednesday, when the Ontario Securities Commission revealed it no longer had a reasonable prospect of conviction against Peter Aceto, Eric Paul ... Read More »
Be the first to comment!The self-driving era is here, the question is what comes next
By Ian Bickis, The Canadian Press on December 15th, 2022
TORONTO – The self-driving era is here, just not the one that was promised. Instead of sleek pods without steering wheels ready to chauffeur buyers off the lot, there are mostly driverless Chevy compacts, Chrysler minivans, and Ford box trucks with bolted-on hardware trundling around bits of the U.S. southwest and, as of August, a ... Read More »
Be the first to comment!Asia stocks follow Wall St down as Fed warns of higher rates
By Elaine Kurtenbach, The Associated Press on December 14th, 2022
BANGKOK (AP) – Asian shares skidded Thursday after a retreat on Wall Street as markets registered their dismay over the Federal Reserve’s warning that still higher interest rates are in store following its latest increase. Oil prices fell while U.S. futures edged higher. Japan reported its trade deficit in November surged to over 2 trillion ... Read More »
1 responseEverland brand organic coconut chocolate bark recalled over undeclared milk
By The Canadian Press on December 14th, 2022
The Canadian Food Inspection Agency has issued a recall for Everland brand organic coconut chocolate bark because the candy contains milk that is not listed on the label. The affected product was sold in 113g packages in British Columbia, Alberta and online. The recall was triggered by Canadian Food Inspection Agency test results. The agency ... Read More »
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