Business
S&P/TSX composite up almost 100 points, U.S. markets also up
By The Canadian Press on November 18th, 2022
TORONTO – Canada’s main stock index gained almost 100 points Friday, boosted by strength in industrials and telecom, while U.S. markets were also up. The S&P/TSX composite index was up 96.33 points at 19,980.91. In New York, the Dow Jones industrial average was up 199.37 points at 33,745.69. The S&P 500 index was up 18.78 ... Read More »
1 responseStocks end higher on Wall Street but still fall for the week
By Damian J. Troise And Alex Veiga, The Associated Press on November 18th, 2022
NEW YORK – Stocks ended higher on Wall Street but still wound up with weekly losses after several days of bumpy trading. Some retailers posted big gains after reporting surprisingly strong quarterly results and giving investors encouraging forecasts. Gap, Ross Stores and Foot Locker all rose sharply. Energy stocks fell along with crude oil prices. ... Read More »
1 responseOntario Teachers’ Pension Plan becomes second public pension to write off crypto bet
By Ian Bickis, The Canadian Press on November 18th, 2022
TORONTO – For the second time this year a major Canadian public pension is writing down to zero a bet on cryptocurrency as the risky market sours. The Ontario Teachers’ Pension Plan said this week it will write off its US$95-million investment in FTX, the cryptocurrency exchange that collapsed last week, following a move by ... Read More »
1 responseManitoba government introduces bill to enact promised minimum wage increase
By The Canadian Press on November 18th, 2022
WINNIPEG – The Manitoba government has introduced a bill in the legislature to formally enact a raise in the minimum wage. The wage is normally adjusted every October in line with the inflation rate of the previous year, but the province announced in the summer the rate would rise higher to deal with a sudden ... Read More »
1 responseRogers, Shaw merger will hurt low-income Canadians the most, tribunal hears
By The Canadian Press on November 18th, 2022
OTTAWA – An economics professor says the big winners of Rogers Communications Inc.’s $26-billion proposed takeover of Shaw Communications Inc. would be the telecoms’ families and that low-income Canadians would be hit the hardest. Speaking before the Competition Tribunal Friday, Dalhousie University’s Lars Osberg said low-income Canadians, who are already facing inflationary pressures, will feel ... Read More »
1 responseS&P/TSX composite up nearly 100 points, U.S. stock markets also rise
By The Canadian Press on November 18th, 2022
TORONTO – Strength in the telecommunications, industrial and financial sectors helped Canada’s main stock index gain nearly 100 points in late-morning trading, while U.S. stock markets also gained ground. The S&P/TSX composite index was up 95.50 points at 19,980.08. In New York, the Dow Jones industrial average was up 187.42 points at 33,733.74. The S&P ... Read More »
1 responseShawcor sells oilfield asset management business in deal worth at least $15M
By The Canadian Press on November 18th, 2022
TORONTO – Shawcor Ltd. says it has sold its oilfield asset management business to Force Inspection Services Inc. in a deal worth at least $15 million. The company says it will keep the western Canadian real estate assets related to the business, but may choose to sell them in the future. Under the agreement, Shawcor ... Read More »
2 responsesWall Street opens higher but is still headed for weekly loss
By Joe Mcdonald And Matt Ott, The Associated Press on November 18th, 2022
NEW YORK (AP) – Stocks are opening higher on Wall Street but are still heading for losses for the week after several days of bumpy trading. Several retailers were posting big gains in the early going Friday after reporting surprisingly strong quarterly results. Gap, Ross Stores and Foot Locker all rose sharply. Energy stocks were ... Read More »
Be the first to comment!Women making small gains, but still troublingly under-represented in the c-suite
By Amanda Stephenson, The Canadian Press on November 18th, 2022
CALGARY – It’s been eight years since Canadian securities regulators instituted so-called comply-or-explain rules in an effort to increase the number of women in the nation’s corporate boardrooms and executive offices. So ask Kelly Schmitt what she thinks about the latest round of Canadian Securities Administrators data showing that in 2022, just 66 per cent ... Read More »
Be the first to comment!Rio Tinto calls off deal with dissident shareholders at Turquoise Hill
By The Canadian Press on November 18th, 2022
TORONTO – Rio Tinto has called off a controversial side agreement it had signed with a pair of shareholders that opposed the company’s plan to buy a minority stake in Turquoise Hill Resources Ltd. that it does not already own. The mining giant says it will now work with Turquoise Hill to set a new ... Read More »
Be the first to comment!Ontario Teachers’ Pension Plan writes down FTX investment to zero
By The Canadian Press on November 18th, 2022
TORONTO – The Ontario Teachers’ Pension Plan says it is writing down its US$95-million investment in FTX, the cryptocurrency exchange that collapsed last week, to zero. The Ontario pension fund invested US$75 million in FTX International and its US entity FTX.US in October 2021 followed by an additional US$20 million in FTX.US in January this ... Read More »
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