Business
Statistics Canada to shed light on commuting habits, labour force dynamics
By The Canadian Press on November 30th, 2022
OTTAWA – A new census release from Statistics Canada Wednesday is expected to shed light on how people got to work last year, and what kind of jobs they were doing. A notable development in the Canadian economy last year was the tightening of the labour market, and there are still nearly one million job ... Read More »
Be the first to comment!Enbridge finalizes Woodfibre LNG deal to assume 30 per cent ownership stake
By The Canadian Press on November 29th, 2022
CALGARY – Enbridge Inc. says it has completed a previously announced transaction giving it a 30 per cent ownership stake in the Woodfibre liquefied natural gas (LNG) project. Enbridge announced in July a partnership with Pacific Energy Corp., part of the Singapore-based RGE Group, to jointly invest in the construction and operation of the Woodfibre ... Read More »
1 responseCost savings, staff retention packages discussed at hearing on Rogers-Shaw deal
By The Canadian Press on November 29th, 2022
OTTAWA – Retention packages at Shaw Communications Inc. will cost up to $50 million if the company’s $26-billion proposed merger with Rogers Communications Inc. crosses the finish line. Counsel for the Competition Bureau brought up the figure during cross-examination of accountant and witness Andy Harington at Tuesday’s Competition Tribunal hearing. Harington’s testimony was focused on ... Read More »
1 responseGas driller pleads no contest to polluting town’s water
By Michael Rubinkam, The Associated Press on November 29th, 2022
MONTROSE, Pa. (AP) – Pennsylvania’s most active gas driller pleaded no contest Tuesday to criminal charges, capping a landmark environmental case against a company prosecutors say polluted a rural community’s drinking water 14 years ago and then tried to evade responsibility. Residents of the tiny crossroads of Dimock in northeastern Pennsylvania said their aquifer was ... Read More »
1 responseS&P/TSX composite posts small gain on energy prices, U.S. markets mixed
By The Canadian Press on November 29th, 2022
TORONTO – Canada’s main stock index was up slightly Tuesday as gains in energy outweighed minor losses across other sectors, while U.S. markets were mixed but trending lower. The S&P/TSX composite index was up 56.92 points at 20,277.41. In New York, the Dow Jones industrial average was up 3.07 points at 33,852.53. The S&P 500 ... Read More »
1 responseWall Street ends an uneven day of trading with mixed results
By Damian J. Troise And Alex Veiga, The Associated Press on November 29th, 2022
NEW YORK – Stocks ended an unsteady day with mixed results as gains for energy companies were offset by losses in technology and other sectors. Trading was uneven Tuesday as investors closely watch developments in China and economic data amid worries about stubbornly hot inflation. The S&P 500 slipped 0.2% and the tech-heavy Nasdaq lost ... Read More »
1 responseRBC raises competition concerns as it strikes deal to buy HSBC Canada for $13.5B
By Ian Bickis, The Canadian Press on November 29th, 2022
TORONTO – Royal Bank of Canada has struck a deal to pay $13.5 billion in cash to swallow up HSBC Bank Canada, the seventh largest bank in the country by assets and – since the Big Six banks are largely untouchable – the biggest takeover prize around. The deal means one less competitor in an ... Read More »
Be the first to comment!Bank of Canada lost $522 million in third quarter, marking first loss in its history
By The Canadian Press on November 29th, 2022
OTTAWA – The Bank of Canada lost $522 million in the third quarter of this year, marking the first loss in its 87-year history. In the central bank’s latest quarterly financial report, it says revenue from interest on its assets did not keep pace with interest charges on deposits at the bank, which have grown ... Read More »
1 response‘Strong position’: Saskatchewan’s bottom line stable, government posts $1.1B surplus
By Mickey Djuric, The Canadian Press on November 29th, 2022
REGINA – Saskatchewan’s bank account remains relatively unchanged while its bottom line continues to be affected by Russia’s invasion of Ukraine, global supply shortages and rising inflation. The province is reporting a $1.1 billion surplus in its mid-year financial update, an increase of over $50 million from last quarter. The Saskatchewan Party government says the ... Read More »
1 response75% of U.S. owners of Cdn. rec properties bought after foreign buyer ban: survey
By The Canadian Press on November 29th, 2022
TORONTO – A new report from Royal LePage shows 75 per cent of U.S. citizens living in border towns and owning recreational properties in Canada made their purchase after the federal government announced its forthcoming foreign buyer ban. The two-year ban will apply to non-Canadian citizens and non-permanent residents and is expected to come into ... Read More »
1 responseCanadian home prices expected to fall 3.3% in 2023: Re/Max report
By The Canadian Press on November 29th, 2022
TORONTO – A new report predicts average home sale prices in Canada will fall 3.3 per cent next year with the biggest declines expected in Ontario and Western Canada where some markets may see prices fall 10 to 15 per cent. The report by Re/Max Canada made the forecast using surveys of brokers and agents ... Read More »
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