Business
US stock indexes fall as lockdown protests spread in China
By Damian J. Troise And Alex Veiga, The Associated Press on November 28th, 2022
NEW YORK – Stocks fell broadly on Wall Street as protests spread in China calling for President Xi Jinping to step down amid growing anger over severe restrictions imposed as part of his “zero COVID” strategy in the world’s second-largest economy. The S&P 500 and the Dow Jones Industrial Average each lost 1.5%, and the ... Read More »
Be the first to comment!Line 5 shutdown ‘draconian,’ both sides must consider ‘imperfect’ alternatives: judge
By The Canadian Press on November 28th, 2022
WASHINGTON – A judge in Wisconsin is ordering Enbridge Inc. and an Indigenous band to confer about “imperfect” alternatives to shutting down the cross-border Line 5 pipeline. District Court Judge William Conley calls the prospect of shutting off the line “draconian” and wants Enbridge and the Bad River Band of the Lake Superior Chippewa to ... Read More »
Be the first to comment!Freedom Mobile under Videotron would be effective competitor, tribunal hears
By The Canadian Press on November 28th, 2022
OTTAWA – A wireless communications specialist says Freedom Mobile under Videotron Ltd. would be a strong competitor in the telecom market as the hearing on Rogers Communications Inc.’s $26-billion proposed takeover of Shaw Communications Inc. continued. William Webb, chief technology officer at Access Partnership and a Shaw witness, told the Competition Tribunal Monday that Freedom ... Read More »
Be the first to comment!BlockFi seeks protection as FTX collapse rattles crypto
By Michelle Chapman, The Associated Press on November 28th, 2022
Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection as the fallout from the collapse of crypto exchange FTX spreads outward. In a Monday filing for bankruptcy protection in New Jersey, where it is based, BlockFi claimed more than 100,000 creditors, with BlockFi’s liabilities ranging from $1 billion to $10 billion. “Chapter 11 is ... Read More »
1 responseOpening days delayed for Canada’s largest and most lucrative lobster fisheries
By The Canadian Press on November 28th, 2022
HALIFAX – The opening days for two of Canada’s largest and most profitable lobster fisheries have been delayed because of bad weather. The federal Fisheries Department says it is delaying by one day – to Tuesday – the opening of Lobster Fishing Area 33, which extends from Cow Bay in Halifax County south to Port ... Read More »
1 responseEarly data points to mixed Black Friday online as inflation hits shoppers
By The Canadian Press on November 28th, 2022
OTTAWA – Early data for Black Friday suggest a mixed bag for online sales as inflation hits shoppers ahead of the holiday season. Shopify Inc. said sales by merchants on its system set a new record for Black Friday as they rose 17 per cent compared with a year ago. The e-commerce company said merchant ... Read More »
1 responseIndo-Pacific strategy good first step, but more details needed: business leaders
By The Canadian Press on November 28th, 2022
TORONTO – The Canadian Chamber of Commerce says Canada’s Indo-Pacific strategy is a good first step, but more details are needed on how the country can close gaps at home that could impede the strategy’s success. President and CEO Perrin Beatty says while much of the strategy focuses on the countries in that region, more ... Read More »
1 responseCannTrust execs linked to unlicensed growing caused ‘incredible’ damage, court hears
By The Canadian Press on November 28th, 2022
TORONTO – A lawyer representing Ontario’s securities regulator says three former executives whose cannabis company was caught growing pot in unlicensed rooms were in positions to disclose the improper growing but didn’t. Dihim Emami, a lawyer for the Ontario Securities Commission, said in a Toronto court today that by not disclosing the unlicensed growing at ... Read More »
1 responseGovernment can’t solve housing issues alone, private sector must be involved: CMHC
By The Canadian Press on November 28th, 2022
OTTAWA – A new report by Canada Mortgage and Housing Corp. says government alone can’t solve the country’s housing challenges. The report by CMHC deputy chief economist Aled ab Iorwerth says the scale of the problem is so large that the private sector must be involved. The national housing agency says rent subsidies and more ... Read More »
Be the first to comment!S&P/TSX composite down in late-morning trading, U.S. stocks also lower
By The Canadian Press on November 28th, 2022
TORONTO – Canada’s main stock index was down about 100 points in late-morning, weighed down by losses in the energy, base metal and utility sectors, while U.S. stock markets also retreated. The S&P/TSX composite index was down 101.44 points at 20,282.33. In New York, the Dow Jones industrial average was down 265.05 points at 34,081.98. ... Read More »
Be the first to comment!E3 Lithium gets $27M from feds to support oilfield lithium extraction
By The Canadian Press on November 28th, 2022
CALGARY – An Alberta-based company aiming to extract lithium from the province’s old oilfields has received $27 million from the federal government. E3 Lithium has developed a technology to extract lithium, a light metal used to make EV batteries, from oilfield brines. E3 Lithium has already drilled test wells within Alberta’s historic Leduc oilfield region. ... Read More »
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