Business
Asian shares track Wall St gains on cooler inflation data
By Elaine Kurtenbach, The Associated Press on December 13th, 2022
BANGKOK (AP) – Stocks rose Wednesday in Asia after a rally on Wall Street spurred by news that inflation in the U.S. cooled more than expected last month. The 7.1% consumer price index reading for November raised hopes Tuesday for easing pressure on the economy ahead of an interest rate policy update from the U.S. ... Read More »
1 responseFTX founder charged in scheme to defraud crypto investors
By Ken Sweet And Fatima Hussein, The Associated Press on December 13th, 2022
NEW YORK (AP) – The U.S. government charged Samuel Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company’s multibillion-dollar collapse. Federal prosecutors said Bankman-Fried devised “a ... Read More »
1 responseS&P/TSX composite index barely budges Tuesday while U.S. stock markets rise
By The Canadian Press on December 13th, 2022
TORONTO – Strength in the energy sector helped Canada’s main stock index hold its ground Tuesday against losses in the financial industry, while U.S. markets were up, with the Nasdaq composite rising more than one per cent. The S&P/TSX composite index was up 3.76 points at 20,023.46. In New York, the Dow Jones industrial average ... Read More »
1 response‘Pre-loved doesn’t mean second-best’: Young Canadians thrift holiday gifts
By Caitlin Yardley, The Canadian Press on December 13th, 2022
MONTREAL – Marissa Myers has been shopping almost exclusively at second-hand stores for the past three years. The 24-year-old sales associate at a non-profit consignment store in Calgary grew up shopping second-hand and is a self-proclaimed “avid thrifter.” “There’s absolutely no way that I can justify shopping new and retail when there’s already so many ... Read More »
1 responseP.E.I. utility Maritime Electric estimates cost of hurricane Fiona at $35 million
By The Canadian Press on December 13th, 2022
CHARLOTTETOWN – Prince Edward Island’s electric utility says it will cost about $35 million to repair damage to the company’s distribution system caused by post-tropical storm Fiona. A spokesperson for Maritime Electric said that estimate is based on invoices received to date, adding that a final total should be available next month. Utility spokesperson Kim ... Read More »
1 responseStocks rise as Wall Street cheers cooler inflation report
By Stan Choe And Damian J. Troise, The Associated Press on December 13th, 2022
NEW YORK (AP) – Wall Street is rising Tuesday after a report showed inflation cooled more than expected last month, offering hope that pressure may ease on an already squeezed economy. The S&P 500 was 1% higher in afternoon trading. The Dow Jones Industrial Average was up 140 points, or 0.4%, at 34,148, as of ... Read More »
1 responseFusion breakthrough is a milestone for climate, clean energy
By Matthew Daly, Michael Phillis, Jennifer Mcdermott And Maddie Burakoff, The Associated Press on December 13th, 2022
WASHINGTON (AP) – Scientists announced Tuesday that they have for the first time produced more energy in a fusion reaction than was used to ignite it – a major breakthrough in the decades-long quest to harness the process that powers the sun. Researchers at the Lawrence Livermore National Laboratory in California achieved the result, which ... Read More »
1 responseFTX’s Bankman-Fried charged by US for ‘scheme’ to defraud
By Ken Sweet, The Associated Press on December 13th, 2022
NEW YORK (AP) – The U.S. government charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company’s multibillion-dollar collapse. The 13-page indictment says that, beginning ... Read More »
1 responseRogers-Shaw deal would cause ‘severe vulnerability’ for Videotron: Competition Bureau
By The Canadian Press on December 13th, 2022
OTTAWA – A lawyer representing Canada’s competition watchdog says Rogers Communications Inc. and Shaw Communications Inc.’s plan to sell Freedom Mobile to Quebecor Inc.’s Videotron will put Videotron in a position of “severe vulnerability.” John Tyhurst made the argument before the Competition Tribunal today, saying it will create a relationship of dependence between a big ... Read More »
Be the first to comment!A slowdown in US inflation eases some pressure on households
By Christopher Rugaber, The Associated Press on December 13th, 2022
WASHINGTON (AP) – Inflation in the United States slowed again last month in the latest sign that price increases are cooling despite the pressures they continue to inflict on American households. Consumer prices rose 7.1% in November from a year ago, the government said Tuesday. That was down sharply from 7.7% in October and a ... Read More »
Be the first to comment!Pearson shares travel tips in effort to get ahead of busy holiday travel season
By The Canadian Press on December 13th, 2022
TORONTO – With the busy holiday travel season around the corner, Canada’s busiest airport is looking to redeem itself from a reputation of cancellations and delays this past summer. Toronto Pearson International Airport released its travel tips for passengers Tuesday. Pearson says the week leading up to Christmas is expected to be the busiest time ... Read More »
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