Business
Nexus applicants can shuffle off to Buffalo as Canada, U.S. expand pilot project
By The Canadian Press on December 1st, 2022
WASHINGTON – An experimental bid to rescue the troubled Nexus trusted-traveller program between Canada and the United States has expanded to the Peace Bridge. New York congressman Rep. Brian Higgins says Nexus applicants in Canada can now sit down with border agents on opposite sides of the link between Fort Erie, Ont., and Buffalo, N.Y. ... Read More »
1 responseNew paid sick leave rules coming into effect for federally regulated workers
By 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. As of Dec. 31, workers who have been continuously employed for at least 30 days will have access to three paid sick days. Workers will then get a fourth sick day as of Feb. 1, and will ... Read More »
1 responseCIBC reports Q4 profit down from year ago as expenses, provisions and margins weigh
By The Canadian Press on December 1st, 2022
TORONTO – Higher expenses, lower interest margins and more money set aside for potentially bad loans all weighed on CIBC’s earnings which declined in the fourth quarter from a year ago. The bank saw its net interest margin, a key measure of loan profitability, slip in the quarter in part from the trend of more ... Read More »
1 responseS&P/TSX composite up nearly 100 points, U.S. stock markets trade lower
By The Canadian Press on December 1st, 2022
TORONTO – Canada’s main stock index was up nearly 100 points in late-morning trading, as strength in the technology sector help lead the market higher, while U.S. stock markets were down. The S&P/TSX composite index was up 97.85 points at 20,551.11. In New York, the Dow Jones industrial average was down 311.98 points at 34,277.79. ... Read More »
1 responseCdn. tech sector participation and pay gaps persist and in some cases, worsen: report
By The Canadian Press on December 1st, 2022
TORONTO – A new report shows women, people of colour and immigrants in Canada’s tech sector saw employment and pay inequities persist – and in some cases, worsen – between 2001 and 2016. The research from the Brookfield Institute for Innovation + Entrepreneurship at Toronto Metropolitan University shows women were increasingly excluded from tech work ... Read More »
1 responseTD Bank Group reports earnings up as it sees growth in margins and loans
By Ian Bickis, The Canadian Press on December 1st, 2022
TORONTO – TD Bank Group saw earnings climb in the fourth quarter, despite setting aside more money for potentially bad loans, as it benefitted in part from higher interest margins on its loans. The bank, with a substantial deposit base that gives it access to cheaper funding, has benefitted more than some other banks from ... Read More »
1 responseGerman parliament votes to approve EU-Canada trade pact
By The Associated Press on December 1st, 2022
BERLIN (AP) – German lawmakers on Thursday approved a free-trade deal between the European Union and Canada, moving the accord a step closer to taking full effect. The pact, formally known as the Comprehensive Economic and Trade Agreement, or CETA, was signed in late 2016. Most of its terms have been implemented provisionally since 2017, ... Read More »
1 responseTips to deal with shrinkflation at the mall as some shoppers question discounts
By Brett Bundale, The Canadian Press on December 1st, 2022
At first glance, it might seem like the deals have never been better as posters in store windows and online ads trumpet a steady stream of holiday sales. But some consumers say the discounts are more hype than real, giving shoppers the illusion of a bargain rather than actually saving them money. Call it shrinkflation ... Read More »
Be the first to comment!Stocks open December with modest gains on Wall Street
By Elaine Kurtenbach, The Associated Press on December 1st, 2022
NEW YORK (AP) – Stocks are opening mostly higher on Wall Street and bond yields are pulling back after the government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October. The S&P 500 was up 0.1% in the early going Thursday. The benchmark index is coming off its ... Read More »
Be the first to comment!Applications for jobless benefits decline last week
By Matt Ott, The Associated Press on December 1st, 2022
WASHINGTON (AP) – The number of Americans applying for unemployment benefits came back down last week, hovering near levels suggesting the U.S. labor market has been largely unaffected by the Federal Reserve’s aggressive interest rate hikes. Applications for jobless aid fell to 225,000 for the week ending Nov. 26, a decline of 16,000 from the ... Read More »
Be the first to comment!An inflation gauge tracked by the Fed slows to still-high 6%
By Paul Wiseman, The Associated Press on December 1st, 2022
WASHINGTON (AP) – A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday’s report from the Commerce Department showed that prices rose 6% ... Read More »
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