Business
Brookfield reports Q3 profit down, revenue and operating funds from operations up
By The Canadian Press on November 10th, 2022
TORONTO – Brookfield reported its third-quarter profit fell compared with a year ago when it benefited from higher valuation and disposition gains. The alternative asset manager, which keeps its books in U.S. dollars, says its net income attributable to common shareholders totalled US$423 million or 24 cents per share for the quarter ended Sept. 30, ... Read More »
Be the first to comment!Tips for first-time homebuyers as affordability in Canada continues to deteriorate
By Brett Bundale, The Canadian Press on November 10th, 2022
It took three years for Ross Davison and his wife to purchase their first home. The Ottawa couple began looking before the pandemic but were repeatedly sidelined by rapidly rising house prices, climbing interest rates and tougher mortgage rules. “It felt like a constantly changing game,” Davison said. “Things were always jumping just out of ... Read More »
Be the first to comment!Wall Street surges after data show inflation cooling in US
By Stan Choe, The Associated Press on November 10th, 2022
NEW YORK (AP) – Stocks are galloping toward their best day in years Thursday as exhilaration sweeps Wall Street and financial markets worldwide after a report showed inflation in the United States slowed last month by even more than expected. The S&P 500 was 3.3% higher in early trading, while the data sent prices immediately ... Read More »
Be the first to comment!S&P/TSX composite up more than 400 points, U.S. stock markets surge higher
By The Canadian Press on November 10th, 2022
TORONTO – Canada’s main stock index was up more than 400 points in early trading, while U.S. stock markets also surged higher after a report that inflation in the United States eased in October. The S&P/TSX composite index was up 462.17 points at 19,806.42. In New York, the Dow Jones industrial average was up 750.02 ... Read More »
Be the first to comment!Ont. AI sector saw big job gains recently, but won’t be unscathed by downturn: report
By Tara Deschamps, The Canadian Press on November 10th, 2022
TORONTO – Research shows Ontario’s artificial intelligence industry saw tremendous growth before this year’s broader tech downturn materialized, but the sector is unlikely to remain unscathed. The report released Thursday said 22,458 AI jobs were created in Ontario between April 2021 and March 2022, up 210 per cent from the previous year. Another 59,673 AI ... Read More »
Be the first to comment!Slightly more Americans apply for jobless benefits last week
By Matt Ott, The Associated Press on November 10th, 2022
WASHINGTON (AP) – The number of Americans applying for jobless benefits rose slightly last week, but the labor market remains healthy despite job cuts that have begun to spread across industries most affected by soaring interest rates, such as housing and technology. Unemployment claims for the week ending Nov. 5 rose by 7,000 to 225,000 ... Read More »
Be the first to comment!US consumer inflation eased to 7.7% over past 12 months
By Paul Wiseman, The Associated Press on November 10th, 2022
WASHINGTON (AP) – Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows and consumers grow more cautious. Consumer inflation reached 7.7% in October from a year earlier and 0.4% from September, the Labor Department said ... Read More »
Be the first to comment!Cineplex reports $30.9M Q3 profit, revenue up more than 30% from year ago
By The Canadian Press on November 10th, 2022
TORONTO – Cineplex Inc. reported a profit in its latest quarter compared with a loss a year earlier as theatre attendance and revenue both rose more than 30 per cent. The movie theatre company says it earned $30.9 million or 43 cents per diluted share for the quarter ended Sept. 30. The result compared with ... Read More »
Be the first to comment!Pathways president says industry will be judged on whether it accomplishes its goals
By Amanda Stephenson, The Canadian Press on November 10th, 2022
CALGARY – Not that many years ago, the idea of showcasing the Canadian oilsands at an international summit on climate change would have been laughable. It is just three years since green energy think-tank the Pembina Institute declared the oilsands as on a “collision course” with this country’s climate goals, and fewer than six years ... Read More »
Be the first to comment!Cascades reports third-quarter loss, sales up from year ago
By The Canadian Press on November 10th, 2022
KINGSEY FALLS, Que. – Cascades Inc. reported a loss in its latest quarter compared with a profit a year ago as its sales rose. The company says it net loss attributable to shareholders amounted to $2 million or two cents per diluted share for the quarter ended Sept. 30. The result compared with a profit ... Read More »
Be the first to comment!Canadian Tire reports Q3 profit down from year ago, raises dividend
By The Canadian Press on November 10th, 2022
TORONTO – Canadian Tire Corp., Ltd. raised its dividend as it reported its third-quarter profit fell compared with a year ago. The retailer says it will now pay a quarterly dividend of $1.725 per share, up from $1.625 per share. The increased payment to shareholders came as Canadian Tire says its net income attributable to ... Read More »
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