Business
Stocks open higher on Wall Street but remain lower for week
By Elaine Kurtenbach And Matt Ott, The Associated Press on December 8th, 2022
NEW YORK (AP) – Stocks are opening modestly higher on Wall Street, but remain lower for the week after five straight losses. The S&P 500 was up 0.2% in the early going Thursday and the tech-heavy Nasdaq was down 0.1%. The Dow Jones Industrial Average was up 0.5%. Energy companies were doing better than the ... Read More »
Be the first to comment!TC Energy shuts down Keystone pipeline system after leak in Nebraska
By The Canadian Press on December 8th, 2022
CALGARY – TC Energy Corp. says it has shut down its Keystone pipeline after a leak in Nebraska. The company says it has mobilized people and equipment in response to a confirmed release of oil into a creek, about 32 kilometres south of Steele City, Neb. TC Energy says an emergency shutdown and response was ... Read More »
Be the first to comment!US jobless claims up modestly last week
By Matt Ott, The Associated Press on December 8th, 2022
WASHINGTON (AP) – Slightly more Americans filed for jobless claims last week but the labor market remains one of strongest parts of the U.S. economy. Applications for unemployment benefits rose to 230,000 for the week ending Dec. 3, up by 4,000 from the previous week’s 226,000, the Labor Department reported Thursday. The four-week moving average ... Read More »
Be the first to comment!Financial institutions have a role to play in preserving biodiversity: COP negotiator
By The Canadian Press on December 8th, 2022
MONTREAL – Canada’s negotiators at the COP15 conference say business groups and financial institutions have a role to play in preserving the planet’s biodiversity. Basile van Havre, co-chair of one of the Montreal conference’s working groups, says the private sector is looking for rules and certainty on the environmental effectiveness of its investments. He says ... Read More »
1 responseHolmes’ former partner gets nearly 13 years in Theranos case
By Michael Liedtke, The Associated Press on December 7th, 2022
SAN JOSE, Calif. (AP) – A judge has sentenced former Theranos executive Ramesh “Sunny” Balwani to nearly 13 years in prison for his role in the company’s blood-testing hoax – a sentence slightly longer than that given to the CEO, who was his lover and accomplice in one of Silicon Valley’s biggest scandals. THIS IS ... Read More »
1 responseLiberals propose changes to foreign investment screening to protect national security
By Nojoud Al Mallees and Jim Bronskill, The Canadian Press on December 7th, 2022
OTTAWA – The Liberal government is aiming to address evolving national security concerns by proposing several changes to Canada’s investment screening law, including giving broader powers to the industry minister. Proposed amendments to the Investment Canada Act would require foreign investors to notify the federal government about investments in certain business sectors. Industry Minister François-Philippe ... Read More »
1 responseSunwing abandons plan to hire foreign pilots before winter travel rush: union
By The Canadian Press on December 7th, 2022
TORONTO – Unifor says Sunwing is walking away from its plans to hire temporary foreign pilots ahead of the busy winter travel season. In a news release, the labour union says the Toronto-based airline has abandoned its plan to hire about 65 pilots through a temporary foreign worker program from Europe. Sunwing did not immediately ... Read More »
1 responseS&P/TSX composite edges lower after brief rally on Bank of Canada announcement
By The Canadian Press on December 7th, 2022
TORONTO – Canada’s main stock index closed in slight negative territory Wednesday, reversing the morning rally that came after the Bank of Canada announced plans to hike its key interest rate by half a percentage point. The S&P/TSX composite index was down 16.95 points at 19,973.22. In New York, the Dow Jones industrial average was ... Read More »
1 responseSlump in tech stocks helps send Wall Street to another loss
By Damian J. Troise And Alex Veiga, The Associated Press on December 7th, 2022
NEW YORK – More weakness in tech stocks sent Wall Street mostly lower after another day of wobbly trading. The S&P 500 ended 0.2% lower Wednesday, its fifth straight loss. The Nasdaq, which is heavily weighted with tech companies, lost 0.5%. The Dow Jones Industrial Average ended just barely in the green. Treasury yields fell. ... Read More »
1 responseNational security concerns prompt bill to modernize foreign investment screening
By The Canadian Press on December 7th, 2022
OTTAWA – The Liberal government says it will make the most significant updates to the federal investment screening law in more than a decade to address evolving national security concerns. Industry Minister François-Philippe Champagne plans to table the proposed changes to the Investment Canada Act later today. Champagne’s ministerial mandate letter directs him to promote ... Read More »
Be the first to comment!Dollarama sees another strong quarter as demand for consumable products continues
By Caitlin Yardley, The Canadian Press on December 7th, 2022
MONTREAL – Dollarama Inc. recorded another strong quarter as inflationary pressures continue to drive consumer demand for consumable products at the discount retailer. The Montreal-based retailer raised its comparable-store sales growth guidance Wednesday as it reported that its third-quarter profit and sales were up compared with a year ago. During a call with analysts, Dollarama’s ... Read More »
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