Business
Powell at Jackson Hole: ‘The time has come’ for the Fed to soon begin reducing interest rates
By Christopher Rugaber, The Associated Press on August 23rd, 2024
JACKSON HOLE, Wyoming (AP) – With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday. Powell did not say when rate cuts would begin or how large they might be, but the Fed is ... Read More »
Be the first to comment!Stock market today: Wall Street climbs ahead of speech by Fed chief Powell
By Yuri Kageyama And Matt Ott, The Associated Press on August 23rd, 2024
NEW YORK (AP) – Stocks are climbing on Wall Street, but the market’s focus is thousands of miles to the west, where the head of the Federal Reserve is about to give a highly anticipated speech about interest rates. The S&P 500 was 0.6% higher Friday, less than a half hour before Fed Chair Jerome ... Read More »
Be the first to comment!The biggest diamond in over a century is found in Botswana – a whopping 2,492 carats
By Sello Motseta, The Associated Press on August 23rd, 2024
GABORONE, Botswana (AP) – The largest diamond found in more than a century has been unearthed at a mine in Botswana, and the country’s president showed off the fist-sized stone to the world at a viewing ceremony Thursday. The Botswana government says the huge 2,492-carat diamond is the second-biggest ever discovered in a mine. It’s ... Read More »
Be the first to comment!Statistics Canada says retail sales down 0.3% at $65.7B in June
By The Canadian Press on August 23rd, 2024
OTTAWA – Statistics Canada says retail sales fell 0.3 per cent to $65.7 billion in June as sales dropped at new car dealers. Core retail sales – which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers – rose 0.4 per cent in June. Sales at motor vehicle and parts dealers fell ... Read More »
Be the first to comment!Teamsters take down picket lines at CN, stoppage continues at CPKC
By The Canadian Press on August 23rd, 2024
OTTAWA – The Teamsters Canada Rail Conference says it has taken down picket lines at Canadian National Railway Co. and its workers will begin returning to work on Friday. However, the union said the work stoppage at Canadian Pacific Kansas City Ltd. remains ongoing pending an order from the Canada Industrial Relations Board. Following months ... Read More »
Be the first to comment!Canadians await details on railway reopening after feds intervene in labour dispute
By The Canadian Press on August 23rd, 2024
OTTAWA – Businesses and industry leaders are anxiously awaiting updates on when Canada’s freight trains could start moving again now that the federal government has intervened in a work stoppage that halted all shipments for a full day. Following months of increasingly fraught bargaining, Canadian Pacific Kansas City Ltd. and Canadian National Railway Co. locked ... Read More »
Be the first to comment!B.C.’s West Coast Express to remain shut on Friday, as railways ready for restart
By Nono Shen, The Canadian Press on August 22nd, 2024
VANCOUVER – An end to a countrywide rail stoppage may be in sight, but riders of British Columbia’s West Coast Express are facing at least one more day without the service. The federal government has ordered binding arbitration in the dispute involving the Teamsters Canada Rail Conference union, Canadian National Railway Co., and Canadian Pacific ... Read More »
Be the first to comment!Major commuter lines remain idle amid rail labour dispute
By Ritika Dubey and Jordan Omstead, The Canadian Press on August 22nd, 2024
Some commuters in the Toronto area will have to make alternate travel plans for a second day despite Ottawa’s intervention in an unprecedented Canada-wide rail lockout. The agency responsible for GO Transit says service will not resume Friday on the Milton line or at the Hamilton GO station, which serve a combined 8,100 customers. A ... Read More »
Be the first to comment!Now is not time to balance B.C.’s budget, says Conroy as province posts $5B deficit
By The Canadian Press on August 22nd, 2024
VICTORIA – British Columbia’s finance minister says now is not the time to balance the province’s budget. Katrine Conroy says the New Democratic government does plan for a balanced budget “in the future” but it will be the responsibility of a later finance minister. “Right now is not the right time. We have to make ... Read More »
Be the first to comment!CN, CPKC prepare to restart railways after Ottawa steps in to end stoppage
By The Canadian Press on August 22nd, 2024
MONTREAL – Canada’s two biggest railways are preparing to get trains running again after Ottawa said it would step in to end a bitter labour dispute. Canadian National Railway Co. says it has ended its lockout of workers that began earlier today and is to immediately begin a recovery plan. The company says while it’s ... Read More »
Be the first to comment!CP NewsAlert: Canadian National Railway ending lockout
By The Canadian Press on August 22nd, 2024
MONTREAL – Canadian National Railway Co. says it has ended its lockout of workers and is to immediately begin a recovery plan. More coming... Read More »
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