January 19th, 2021

Business

Bank of America 4Q profit falls 18% on lower interest rates

By Ken Sweet, The Associated Press on January 19th, 2021

CHARLOTTE, N.C. – Bank of America’s fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down its results. However the bank was able to release more than $800 million from its credit reserves, a sign that it sees the U.S. economy improving in the coming months. The North Carolina-based bank said ... Read More »

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Lumentum buys Coherent in $5.7B push into lasers, photonics

By The Associated Press on January 19th, 2021

Lumentum Holdings will spend $5.7 billion in cash and stock to buy Coherent and expand its reach into lasers and photonics. The San Jose, California, company said Tuesday that it would pay a 49% premium to the closing price of Coherent shares on Friday. The deal includes $100 in cash and slightly more than one ... Read More »

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S&P/TSX composite edges lower in late-morning trading, U.S. stock markets up

By The Canadian Press on January 19th, 2021

TORONTO – Canada’s main stock index edged lower amid small losses in the financial, industrial and telecom sectors, while U.S. stock markets climbed higher. The S&P/TSX composite index was down 4.25 points at 17,940.63. In New York, the Dow Jones industrial average was up 84.50 points at 30,898.76. The S&P 500 index was up 14.31 ... Read More »

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Pandemic pressures expected to put IT, e-commerce skills in high demand

By Salmaan Farooqui, The Canadian Press on January 19th, 2021

Prior to 2021, recruiting firm Randstad’s annual list of the upcoming year’s most in-demand jobs would typically feature roles such as truck drivers, heavy duty mechanics and welders. However, the COVID-19 pandemic’s sweeping effect on the economy has upended those trends, and roles such as customer service representatives, essential retail workers, security analysts and architects ... Read More »

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Greater Vancouver business organization says members face uncertain outlook in 2021

By The Canadian Press on January 19th, 2021

VANCOUVER – The association representing businesses across Metro Vancouver says the costs of COVID-19 continue to mount for its members. The Greater Vancouver Board of Trade has released its annual Region in Review report showing pandemic-related challenges obscure the path to economic recovery. The survey shows many board of trade members have been hit, with ... Read More »

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New books with buzz? Dozens excerpted in free e-preview

By The Associated Press on January 19th, 2021

NEW YORK – Excerpts from upcoming works by Pulitzer Prize-winner Viet Thanh Nguyen and crime writer Lisa Scottoline are among 46 books previewed in a free e-book collection. “Buzz Books 2021: Spring/Summer” was released Tuesday by the industry newsletter Publishers Lunch. Besides Nguyen’s “The Committed” and Scottoline’s “Eternal,” books excerpted include Cynthia D’Aprix Sweeney’s “Good ... Read More »

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North American stock markets up in early trading, loonie also climbs

By The Canadian Press on January 19th, 2021

TORONTO – Gains in the metals and mining and industrial sectors helped lift Canada’s main stock index in early trading, while U.S. stock markets also climbed. The S&P/TSX composite index was up 26.47 points at 17,971.35. In New York, the Dow Jones industrial average was up 208.98 points at 31,023.24. The S&P 500 index was ... Read More »

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Statistics Canada says wholesale sales rose in November, manufacturing sales down

By The Canadian Press on January 19th, 2021

OTTAWA – Statistics Canada says wholesale sales grew for the seventh consecutive month in November to hit a record high, while manufacturing sales fell for the month. The agency says wholesale sales rose 0.7 per cent to an all-time high of $67.4 billion as five of seven subsectors reported stronger sales. The gains were led ... Read More »

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Shipments along St. Lawrence stayed flat in 2020, lifted by strong demand for grain

By Jon Victor, The Canadian Press on January 19th, 2021

MONTREAL – Cargo shipping on the St. Lawrence Seaway remained flat last year, despite COVID-19’s harsh toll on demand for many products shipped along the waterway. Nearly 38 million tonnes of cargo were shipped last year along the route stretching from the lower St. Lawrence River to the Great Lakes, with record shipments of grain ... Read More »

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European car sales suffer worst plunge ever in pandemic

By The Associated Press on January 19th, 2021

MILAN – European car sales plunged by nearly a quarter last year as the pandemic provoked the worst crisis ever to hit the capital-intensive industry. New car registrations sank by 23.7%, or 3 million vehicles, to 9.9 million units, according to new figures released Tuesday by the European Automobile Manufacturers Association. It said lockdowns and ... Read More »

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