Business
Wholesale inflation in US further slowed in November to 7.4%
By Christopher Rugaber, The Associated Press on December 9th, 2022
WASHINGTON (AP) – Wholesale prices in the United States rose 7.4% in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool. The latest year-over-year figure was down from 8% in October and from a recent peak of 11.7% in March. On ... Read More »
Be the first to comment!Laurentian Bank posts $55.7M in earnings in Q4, revenue up slightly from year ago
By The Canadian Press on December 9th, 2022
MONTREAL – Laurentian Bank of Canada says it earned $55.7 million in its most recent quarter as its revenue rose and provision for credit losses eased slightly. The Montreal bank says its net income for its fourth quarter compared with a net loss of $102.9 million at the same time last year and was coupled ... Read More »
Be the first to comment!Roots records $2.2M in earnings in Q3, sales down 8.5% from last year
By The Canadian Press on December 9th, 2022
TORONTO – Roots Corp. says it earned about $2.2 million in its latest quarter as sales dropped by 8.5 per cent since the same time last year. The Toronto clothing retailer says its net income for the third quarter fell from $10.8 million a year ago. The decrease amounted to a fall from 25 cents ... Read More »
Be the first to comment!Crescent Point to acquire Kaybob Duvernay drilling assets from Paramount Resources
By The Canadian Press on December 9th, 2022
CALGARY – Crescent Point Energy Corp. says it has signed an agreement with Paramount Resources Ltd. to acquire additional Kaybob Duvernay assets for $375 million. The Calgary oil and gas company says those assets include 130 net drilling locations across almost 65,000 net acres of Crown land. They produce more than 4,000 barrels of oil ... Read More »
Be the first to comment!From missing family time to making food, Canadians are cutting back amid inflation
By The Canadian Press on December 9th, 2022
MONTREAL – It has not been an easy year for Canadians financially. Decades-high inflation and soaring interest rates have led many to take a closer look at their spending habits and, consequently, make some tough choices. On Wednesday, the Bank of Canada hiked its key interest rate for the seventh time in a row, bringing ... Read More »
Be the first to comment!Steep surcharges for mailing parcels may dampen holiday spirits
By The Canadian Press on December 9th, 2022
OTTAWA – Canadians sending parcels this holiday season may be surprised to see a steep surcharge on domestic shipping due to the high price of diesel. The Canadian postal service’s package surcharge rose to nearly 40 per cent last week on domestic parcels and fell slightly to 37 per cent this week. Canada Post spokesman ... Read More »
Be the first to comment!Igor brand Gorgonzola mild ripened blue-veined cheese was sold in Ontario and Quebec
By The Canadian Press on December 8th, 2022
OTTAWA – The Canadian Food Inspection Agency has issued a recall for Igor brand Gorgonzola mild ripened blue-veined cheese due to possible Listeria contamination. The affected product distributed by Jan K. Overweel Limited was sold in 350g packages with a best-before date of Feb. 01, 2023. The cheese was sold in Ontario and Quebec. There ... Read More »
1 responseBoC shifting from how much to raise rates to whether to raise them: Deputy Governor
By Ian Bickis, The Canadian Press on December 8th, 2022
The Bank of Canada’s steep rate hike cycle could be coming to an end, but don’t expect rates to start going back down any time soon. Following Wednesday’s half-percentage point increase, future decisions will depend on a range of data, including consumer demand, business activity, and of course inflation, said Bank of Canada Deputy Governor ... Read More »
1 responseS&P/TSX composite edges down; U.S. markets tick higher on quiet trading day
By The Canadian Press on December 8th, 2022
TORONTO – Canada’s main stock index edged downwards and U.S. markets ticked slightly higher on what was overall a quiet day of trading Thursday. The S&P/TSX composite index closed down 4.03 points at 19,969.19. In New York, the Dow Jones industrial average was up 183.56 points at 33,781.48. The S&P 500 index was up 29.59 ... Read More »
1 responseStocks rise on Wall Street, but remain lower for the week
By Damian J. Troise And Alex Veiga, The Associated Press on December 8th, 2022
NEW YORK – Stocks closed higher on Wall Street but remain lower for the week after five straight losses. The S&P 500 rose 0.8% Thursday and the tech-heavy Nasdaq added 1.1%. The Dow Jones Industrial Average rose 0.5%. U.S. crude oil prices settled lower, marking their lowest point of the year. The yield on the ... Read More »
1 responseBanks get court approval to host virtual or hybrid AGMs for another year
By The Canadian Press on December 8th, 2022
TORONTO – Canada’s most prominent banks and insurers say they are sticking with the virtual or hybrid annual general meetings they adopted during the COVID-19 pandemic for another year. The group of 12 banks and insurers say they recently obtained a court order allowing them to hold the meetings in these formats again. Though they ... Read More »
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