Business
Crude oil tumbles on report that OPEC plus could hike production
By The Canadian Press on November 21st, 2022
CALGARY – Crude oil prices slumped to a 10-month low Monday on a report that OPEC plus may hike output at its next meeting. The benchmark West Texas Intermediate is down US$5 as of late morning, trading around US$75.43. That’s about US$10 lower than the price of oil at the beginning of last week, and ... Read More »
1 responseP.E.I. potato farmers still hurting by last year’s export ban to the United States
By The Canadian Press on November 21st, 2022
CHARLOTTETOWN – Potato farmers in Prince Edward Island are feeling the impact of lost customers one year after table potato shipments to the United States were banned for four months. Canada stopped sending the Island’s best known export to the U.S. on Nov. 21, 2021, after potato wart fungus – a disease that disfigures potatoes ... Read More »
1 responseS&P/TSX composite down as oil prices drop and energy sector falls
By The Canadian Press on November 21st, 2022
TORONTO – Canada’s main stock index was down more than 100 points in late-morning trading, weighed down by losses in the energy sector as the price of oil moved lower, while U.S. stock markets also fell. The S&P/TSX composite index down 157.23 points at 19,823.68. In New York, the Dow Jones industrial average was down ... Read More »
1 responseUS supply chain under threat as unions, railroads, clash
By Josh Funk, The Associated Press on November 21st, 2022
OMAHA, Neb. (AP) – Railroad engineers accepted their deal with the railroads that will deliver 24% raises but conductors rejected theirs, threatening the health of the economy just before the holidays and casting more doubt on whether the industry will be able to resolve the labor dispute before next month’s deadline without the help of ... Read More »
Be the first to comment!Iger back on top in a Disney plot twist that few saw coming
By The Associated Press on November 21st, 2022
BURBANK, Calif. (AP) – Bob Iger, the enterprising entertainment executive who brought Star Wars, Pixar and Marvel under the Disney marquee and challenged the streaming dominance of Netflix, will replace his handpicked successor, CEO Bob Chapek, whose two-year tenure has been marked by clashes, missteps and a weakening financial performance. The stunning development comes two ... Read More »
Be the first to comment!ATS Automation Tooling Systems Inc. changes name to ATS Corp.
By The Canadian Press on November 21st, 2022
ATS Automation Tooling Systems Inc. has changed its name to ATS Corp. ATS CEO Andrew Hider says the new name provides a great platform for the future and serves as the flagship for the company’s many operating brands. The maker of automation systems says the new name allows it to honour its origins while signalling ... Read More »
Be the first to comment!Stocks open lower; Disney lifts Dow after reinstating Iger
By Joe Mcdonald And Matt Ott, The Associated Press on November 21st, 2022
NEW YORK (AP) – Stocks are opening lower on Wall Street at the beginning of a holiday-shortened week. The S&P 500 was down 0.4% in the early going Monday, while drops in tech companies helped pull the Nasdaq down 0.5%. The Dow Jones Industrial Average was just barely in the green, thanks largely to a ... Read More »
Be the first to comment!Big rail unions split on contract with engineers ratifying
By Josh Funk, The Associated Press on November 21st, 2022
OMAHA, Neb. (AP) – Railroad engineers accepted their deal with the railroads that will deliver 24% raises but conductors rejected the contract, casting more doubt on whether the industry will be able to resolve the labor dispute before next month’s deadline without the help of Congress. A split vote Monday from the two biggest railroad ... Read More »
Be the first to comment!New Brunswick seafood giant Cooke Inc. acquires Tassal Group of Australia for $1.5B
By The Canadian Press on November 21st, 2022
SAINT JOHN, N.B. – New Brunswick seafood giant Cooke Inc. says it has completed a C$1.5-billion acquisition of Australian seafood producer Tassal Group Ltd. The parent company of Cooke Aquaculture Inc. says the deal is the largest-ever purchase for the family-owned company since its launch in 1985. Cooke says it acquired all outstanding shares of ... Read More »
Be the first to comment!AltaGas chief executive Randy Crawford to retire next year
By The Canadian Press on November 21st, 2022
CALGARY – AltaGas Ltd. says chief executive Randy Crawford will retire in the first half of next year. The company says Crawford is expected to remain in his role until a successor is named. AltaGas says it is working with external advisers to evaluate internal and external candidates for the top job. The company owns ... Read More »
Be the first to comment!Smith Financial signs deal to buy Home Capital Group for $44 per share
By The Canadian Press on November 21st, 2022
TORONTO – Mortgage lender Home Capital Group Inc. has signed a deal to be acquired by Smith Financial Corp. that values the company at $1.7 billion. Under the agreement, Smith Financial will pay $44 in cash per share for the shares in Home Capital it does not already own. Home Capital shares closed at $27.05 ... Read More »
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