Business
Cenovus Energy plans capital budget between $4B and $4.5B for 2023
By The Canadian Press on December 6th, 2022
CALGARY – Cenovus Energy Inc. says its capital budget will total between $4.0 billion and $4.5 billion in 2023, including about $2.8 billion of sustaining capital. The company says between $1.2 billion and $1.7 billion will be spent on optimization and growth, including construction of the West White Rose project, optimization of its oilsands assets ... Read More »
Be the first to comment!DoorDash Canada moves to tiered commission system, charging some restaurants 29%
By Tara Deschamps, The Canadian Press on December 6th, 2022
TORONTO – DoorDash is changing the way it charges commission to Canadian restaurants with a new, tiered model. The San Francisco-based food delivery service announced the switch Tuesday, saying it will offer restaurants more “flexibility” and help them take advantage of digital growth opportunities. “Part of the thinking … was to give them that transparency ... Read More »
Be the first to comment!Toronto home sales down 49 per cent from last year as listing decline and rates rise
By The Canadian Press on December 6th, 2022
TORONTO – The Toronto Regional Real Estate board says November home sales showed a similar retreat to recent months with activity down by about half from last year. The board says November’s 49 per cent decline from last year to 4,544 sales came as rising interest rates continue to put pressure on affordability and the ... Read More »
Be the first to comment!The challenge and stresses of young people choosing a career in a post-pandemic world
By Caitlin Yardley, The Canadian Press on December 6th, 2022
MONTREAL – Though the winter vacation is fast approaching for students, young people across the country anxious about their post-secondary plans and possible career paths likely won’t get a break from worries about the future. Eighteen-year-old Juliet Keeley is a first-year psychology student at Concordia University. For Keeley, the decision to begin a major in ... Read More »
Be the first to comment!Consumer debt tops $2.36 trillion in third quarter, up 7.3 per cent from last year
By The Canadian Press on December 6th, 2022
Equifax Canada says an increase in borrowers helped push total consumer debt to $2.36 trillion in the third quarter for a 7.3 per cent rise from last year, even as mortgage volumes decline. It says average non-mortgage debt rose to $21,183 for the highest level since the second quarter of 2020, with early signs of ... Read More »
Be the first to comment!Auditor general probes COVID-19 vaccine procurement, pandemic benefits
By The Canadian Press on December 6th, 2022
OTTAWA – Canada’s auditor general is expected to release two highly anticipated reports on the government’s handling of the COVID-19 crisis in 2021, including access to vaccines and pandemic benefits. Karen Hogan’s first report will detail how well the government did getting ahold of COVID-19 vaccine doses and tracking how many people got them. The ... Read More »
Be the first to comment!Execs from grocery giants push back against inflation profiteering claims
By Nojoud Al Mallees, The Canadian Press on December 5th, 2022
OTTAWA – Grocery executives are disputing an accusation that grocery giants are taking advantage of inflation to drive up their own profits. Executives from Loblaw and Empiretestified at the House of Commons agriculture committee Monday as part of its study of food inflation. “Empire does not like inflation,” said Pierre St-Laurent, chief operating officer of ... Read More »
1 responseCanada ‘watching closely’ as Biden pressed to fix Inflation Reduction Act ‘glitches’
By James McCarten, The Canadian Press on December 5th, 2022
WASHINGTON – Prime Minister Justin Trudeau said Monday that Canada will be “watching closely” as the United States responds to complaints from Europe about the North American protectionism built into President Joe Biden’s signature climate change initiative. Biden received an earful from French President Emmanuel Macron about “super aggressive” climate incentives in the Inflation Reduction ... Read More »
1 responseLoblaw exec pushes back on claim that grocery giant is profiteering from inflation
By The Canadian Press on December 5th, 2022
OTTAWA – A Loblaw executive is disputing an accusation that the grocery giant is taking advantage of inflation to drive up its own profits. The company’s senior vice president of retail finance, Jodat Hussain, testified at the House of Commons agriculture committee today as part of its study of food inflation. Hussain told MPs Loblaw ... Read More »
1 responseS&P/TSX composite ends down 1.2 per cent, U.S. stock markets also end lower
By The Canadian Press on December 5th, 2022
TORONTO – Canada’s main stock index closed down almost 1.2 per cent Monday as oil prices dropped while U.S. markets were down even more as signs of heightened business activity renewed fears about the interest rate hike path ahead. The S&P/TSX composite index closed down 243.40 points at 20,242.26 as both energy and information technology ... Read More »
1 responseStocks slide as strong data suggests Fed has more to do
By Damian J. Troise And Alex Veiga, The Associated Press on December 5th, 2022
NEW YORK – Stocks closed lower on Wall Street and Treasury yields rose after surprisingly strong economic reports highlighted the Federal Reserve’s difficult fight against inflation. The S&P 500 fell 1.8% Monday. The Dow Jones Industrial Average lost 1.4% and the tech-heavy Nasdaq gave back 1.9%. Small-company stocks fell even more. The services sector, which ... Read More »
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