Business
Vancouver’s November home sales fell 53% from a year ago, 15% from October: board
By The Canadian Press on December 2nd, 2022
VANCOUVER – The Real Estate Board of Greater Vancouver says the typically slow conditions it sees in November were even more sluggish last month as home sales dropped 53 per cent from a year ago and 15 per cent from October. The B.C. board says sales in the region totalled 1,614 last month and were ... Read More »
Be the first to comment!EU tentatively backs $60-per-barrel price cap on Russian oil
By Raf Casert, Fatima Hussein And David Mchugh, The Associated Press on December 2nd, 2022
BRUSSELS (AP) – The European Union tentatively agreed to a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. After a last-minute flurry of negotiations, the EU presidency, held ... Read More »
Be the first to comment!BoC expected to end year off with one more rate increase, likely to pause hikes soon
By Nojoud Al Mallees, The Canadian Press on December 2nd, 2022
OTTAWA – The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on Wednesday. Forecasters anticipate the central bank will raise its key interest rate, which is currently at 3.75 per cent, by either a quarter or half a ... Read More »
Be the first to comment!Rail strike averted: Biden signs bill enforcing agreement
By Josh Boak And Aamer Madhani, The Associated Press on December 2nd, 2022
WASHINGTON (AP) – President Joe Biden signed a bill Friday to avert a freight rail strike that he said could have plunged the U.S. into a catastrophic recession. At the White House, Biden signed a measure passed Thursday by the Senate and Wednesday by the House. It binds rail companies and workers to a proposed ... Read More »
Be the first to comment!US hiring stays strong, complicating Fed’s inflation fight
By Christopher Rugaber, The Associated Press on December 2nd, 2022
WASHINGTON (AP) – The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy – a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday. ... Read More »
1 responseStocks sag on Wall Street after strong data on wages, jobs
By Stan Choe, The Associated Press on December 2nd, 2022
NEW YORK (AP) – Worries about inflation are hurting Wall Street Friday after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation. The S&P 500 was 0.8% lower in morning trading and on track to erase much of what ... Read More »
1 responseUnemployment rate drops slightly to 5.1% in November, labour market still hot
By Nojoud Al Mallees, The Canadian Press on December 2nd, 2022
OTTAWA – Employment was little changed in November as the economy added a modest 10,000 jobs, Statistics Canada says. In its latest labour force survey, the federal agency says Canada’s unemployment was 5.1 per cent last month, down from 5.2 per cent in October. “The main overriding feature of today’s report was that you were ... Read More »
1 responseNovember auto sales in Canada up from year ago: DesRosiers report
By The Canadian Press on December 2nd, 2022
TORONTO – A report by DesRosiers Automotive Consultants says light vehicle sales in November rose 4.1 per cent compared with last year. The firm estimates 114,966 light vehicle were sold last month. The result was up from 110,448 in November 2021. However, DAC noted that sales totalled 143,315 in November 2019 before the pandemic struck. ... Read More »
1 responseStocks fall after gains for worker wages fan inflation fears
By Stan Choe, The Associated Press on December 2nd, 2022
NEW YORK (AP) – Worries about inflation are hitting Wall Street Friday after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation. The S&P 500 was 1% lower in early trading, on track to wipe out most of what ... Read More »
Be the first to comment!‘Fashion doesn’t stop at handbags:’ Resurrected Bentley changes stores, plots growth
By Brett Bundale, The Canadian Press on December 2nd, 2022
A luggage and bag store isn’t exactly top of mind during lockdowns. So Bentley & Co. Ltd. quietly tightened operations and positioned itself for a post-pandemic comeback. The retailer’s predecessor, Bentley Leathers Inc., filed for bankruptcy protection in late 2019. It then began cutting its store count, overhauling its online platform, upgrading its warehouse and ... Read More »
Be the first to comment!US hiring stayed strong in November despite Fed rate hikes
By Christopher Rugaber, The Associated Press on December 2nd, 2022
WASHINGTON (AP) – The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy – a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday. ... Read More »
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