Business
Some recent homebuyers will find rate hikes painful as mortgages go up: BoC
By The Canadian Press on November 22nd, 2022
OTTAWA – Recent homebuyers with variable-rate mortgages will find the adjustment to higher interest rates more painful, said Bank of Canada senior deputy governor Carolyn Rogers. Speaking before the networking group Young Canadians in Finance in Ottawa Tuesday, the senior deputy governor said the share of households with a variable-rate mortgage has increased over the ... Read More »
1 responseCompetition watchdog pushes back on concerns Shaw has about its business
By The Canadian Press on November 22nd, 2022
OTTAWA – Counsel for the Competition Bureau is trying to build the case that Shaw Communications Inc. is not in as troubled a position as the company has made it seem. During cross-examination of Shaw’s chief financial officer Trevor English Tuesday, the competition watchdog pointed to Shaw’s fiscal 2020 financials, noting free cash flow of ... Read More »
2 responsesS&P/TSX composite climbs as energy and materials gain, U.S. markets also up
By The Canadian Press on November 22nd, 2022
TORONTO – Canada’s main stock index was up close to 200 points in late-morning trading as energy stocks climbed along with the price of oil, while U.S. stocks were also up. The S&P/TSX composite index was up 182.69 points at 20,159.82, boosted also by the materials sector. In New York, the Dow Jones industrial average ... Read More »
Be the first to comment!Canadian retail sales down 0.5% in September, led by drop in sales at gas stations
By The Canadian Press on November 22nd, 2022
OTTAWA – Retail sales fell 0.5 per cent to $61.1 billion in September led by a drop in sales at gas stations along with food and beverage stores, Statistics Canada said Tuesday. However, the agency said its initial estimate for October pointed to a gain of 1.5 per cent for the month, though it cautioned ... Read More »
Be the first to comment!Q&A: Padma Lakshmi donates to provide equal opportunities
By Glenn Gamboa, The Associated Press on November 22nd, 2022
Padma Lakshmi’s career has been filled with highlights, from creating the Hulu series “Taste the Nation” to hosting “Top Chef” to writing a best-selling memoir and numerous cookbooks. But one of her life’s “seminal moments,” she says, was decidedly lower-profile. When Lakshmi visited Shanti Bhavan, a boarding school in her home state of Tamil Nadu ... Read More »
Be the first to comment!Stocks are mostly higher in the early going on Wall Street
By Joe Mcdonald, The Associated Press on November 22nd, 2022
NEW YORK (AP) – Stocks are mostly higher in the early going on Wall Street but trading remained unsteady ahead of the Thanksgiving holiday in the U.S. The S&P 500 was holding on to a gain of 0.2% in the first few minutes of trading Tuesday, but the tech-heavy Nasdaq turned lower and was down ... Read More »
Be the first to comment!Federal consumer carbon price to expand to three Atlantic provinces next summer
By The Canadian Press on November 22nd, 2022
OTTAWA – Three Atlantic provinces will be subject to the federal consumer carbon price next summer, with their residents getting the quarterly rebate cheques meant to prevent households from being worse off financially as a result of the program. Environment Minister Steven Guilbeault will announce the change today after a federal review determined the provincial ... Read More »
Be the first to comment!Spin Master buying Canadian puzzle company 4D Brands International
By The Canadian Press on November 22nd, 2022
TORONTO – Spin Master Corp. says it has signed a deal to buy Canadian puzzle company 4D Brands International Inc. Financial terms of the agreement for the maker of three dimensional model construction kits were not immediately available. Spin Master co-founder Anton Rabie says 4D’s puzzles offers innovation for a classic pastime. The company’s kits ... Read More »
Be the first to comment!Statistics Canada reports retail sales down 0.5% in September
By The Canadian Press on November 22nd, 2022
OTTAWA – Statistics Canada says retail sales fell 0.5 per cent to $61.1 billion in September led by a drop in sales at gas stations along with food and beverage stores. However, the agency says its initial estimate for October pointed to a gain of 1.5 per cent for the month, though it cautioned the ... Read More »
Be the first to comment!George Weston reports third-quarter profit and revenue up from year ago
By The Canadian Press on November 22nd, 2022
TORONTO – George Weston Ltd. reported a third-quarter profit available to common shareholders from continuing operations of $889 million, up from $238 million a year earlier. The company, which owns large interests in Loblaw Companies Ltd. and Choice Properties Real Estate Investment Trust, says the profit amounted to $6.14 per diluted share for the quarter ... Read More »
Be the first to comment!OECD forecast: High rates, inflation to slow world growth
By Paul Wiseman, The Associated Press on November 22nd, 2022
Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023. That was the sobering forecast issued Tuesday by the Paris-based Organization for Economic Cooperation and Development. In the OECD’s estimation, the world ... Read More »
Be the first to comment!
