Business
Asian shares sink on revived worries over recession, China
By Elaine Kurtenbach, The Associated Press on December 1st, 2022
BANGKOK (AP) – Shares retreated in Asia on Friday after a mixed day on Wall Street as optimism over signs the Federal Reserve may temper its aggressive interest rate hikes was replaced by worries the economy might be headed for a recession. A U.S. measure of inflation that’s closely watched by the Federal Reserve eased ... Read More »
Be the first to comment!B.C.’s Medical Services Commission accuses Telus LifePlus program of extra-billing
By The Canadian Press on December 1st, 2022
VANCOUVER – British Columbia’s Medical Services Commission has applied for a court injunction against a Telus Health program alleging it is extra-billing for health services. Health Minister Adrian Dix says the action filed in B.C. Supreme Court relates to the company’s LifePlus program, which charges membership fees to patients. The court petition alleges Telus is ... Read More »
1 responseNew paid sick leave rules come into effect for federally regulated workers
By Nojoud Al Mallees, The Canadian Press on December 1st, 2022
OTTAWA – Employees in federally regulated private-sector workplaces are now eligible for 10 days of paid sick leave after members of Parliament voted unanimously in favour of the move last year. As of Dec. 31, workers who have been continuously employed for at least 30 days will have access to their first three paid sick ... Read More »
1 responseS&P/TSX composite up 70 points, U.S. markets mixed but keep Wednesday gains
By Rosa Saba, The Canadian Press on December 1st, 2022
TORONTO – Canada’s main stock index closed up around 70 points Thursday, with mixed results across sectors, while U.S. markets largely held on to the outsized gains they made the day before. “Based on what we saw yesterday, and the potential for volatility that we’ve been seeing every day around the inflation story, changes from ... Read More »
1 responseFinal witnesses speak during hearing on Rogers, Shaw $26-billion proposed deal
By The Canadian Press on December 1st, 2022
OTTAWA – Canada’s competition watchdog is holding firm in its opposition to Rogers Communications Inc.’s $26-billion proposed takeover of Shaw Communications Inc., as the telecom companies remain set on getting the deal across the finish line. The final group of witnessesspoke before the Competition Tribunal Thursday during a hearing on the merger. Testimony and cross-examination ... Read More »
1 responseSenate moves to avert rail strike amid dire warnings
By Kevin Freking And Josh Funk, The Associated Press on December 1st, 2022
WASHINGTON (AP) – The Senate moved quickly Thursday to avert a rail strike that the Biden administration and business leaders warned would have had devastating consequences for the nation’s economy. The Senate passed a bill to bind rail companies and workers to a proposed settlement that was reached between the rail companies and union leaders ... Read More »
1 responseWall Street ends mixed in an uneven start for December
By Damian J. Troise And Alex Veiga, The Associated Press on December 1st, 2022
NEW YORK – Stocks ended mixed after an uneven day of trading and bond yields fell broadly after the government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October. The S&P 500 ended 0.1% lower Thursday. The benchmark index is coming off its second straight monthly gain. A ... Read More »
Be the first to comment!Volkswagen searching in Canada for first North American battery factory site
By The Canadian Press on December 1st, 2022
OTTAWA – Volkswagen AG says it has started searching in Canada for the site of its first battery factory in North America. The automotive giant says its chief executive Oliver Blume has signed an agreement with Industry Minister François-Philippe Champagne to work to identify suitable sites. The agreement comes as an addition to an August ... Read More »
Be the first to comment!Some Tums peppermint tablets recalled due to fibreglass, paper, foil fragments
By The Canadian Press on December 1st, 2022
OTTAWA – Health Canada has announced a recall of certain Tums antacid tablets due to possible contamination with fragments of fibreglass, paper, aluminum foil and other materials. The federal agency says on its website that manufacturer GlaxoSmithKline (GSK) Consumer Healthcare initiated the recall. The affected products are peppermint regular strength tablets that are sold in ... Read More »
Be the first to comment!November home sales down 20%, year-to-date sales on track for record: Calgary board
By The Canadian Press on December 1st, 2022
CALGARY – The Calgary Real Estate Board says the city’s November home sales dipped by more than 20 per cent since the same time last year, but 2022 is still on track to set a record. The Alberta board says last month’s sales amounted to 1,648, down 22 per cent from a year ago, but ... Read More »
Be the first to comment!Banks outline downturn prep in latest earnings results while still talking growth
By Ian Bickis, The Canadian Press on December 1st, 2022
TORONTO – From boosting cash on hand to cutting staff, Canadian banks are taking a variety of strategies to prepare for a widely expected economic slowdown in the year ahead. Banks outlined some of their approaches in their fourth quarter results this week, which saw executives strike notes of caution because of the variety of ... Read More »
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