May 11th, 2021

Business

Ontario fiscal watchdog releases COVID-19 pandemic insolvency report today

By The Canadian Press on April 28th, 2021

TORONTO – Ontario’s fiscal watchdog says insolvencies in the province dropped by 24 per cent last year despite the start of the COVID-19 pandemic. The Financial Accountability Office says the decline is unusual for a recessionary period and is due to a combination of factors. The FAO says high levels of government aid, low interest ... Read More »

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Energy and tech sectors lift S&P/TSX composite, U.S. stock markets mixed

By The Canadian Press on April 28th, 2021

TORONTO – Strength in the energy and technology sectors helped lift Canada’s main stock index to a triple-digit advance in early trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 103.73 points at 19,278.82. In New York, the Dow Jones industrial average was down 112.89 points at 33,872.04. The S&P 500 ... Read More »

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Shopify’s Q1 net income soars to $1.26B, revenue increased 110 per cent

By The Canadian Press on April 28th, 2021

OTTAWA – Shopify Inc.’s net income soared to US $1.26 billion in its latest quarter as the company reaped the rewards of an equity investment it made it in a “buy now, pay later” company. The Ottawa-based e-commerce giant, which keeps its books in U.S. dollars, says its first-quarter net income was a significant rise ... Read More »

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Statistics Canada says retail sales up 4.8 per cent in February

By The Canadian Press on April 28th, 2021

OTTAWA – Statistics Canada says retail sales rose 4.8 per cent to $55.1 billion in February, led by gains at motor-vehicle and parts dealers and gasoline stations. The agency says the overall increase came as core retail sales – which exclude gasoline stations and motor-vehicle and parts dealers – climbed 3.8 per cent in February, ... Read More »

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CGI reports $341.2-million Q2 profit, up from $314.8 million a year ago

By The Canadian Press on April 28th, 2021

MONTREAL – CGI Inc. reported its profit in its latest quarter was up from a year ago as its revenue edged lower. The technology and business consulting firm says it earned $341.2 million or $1.34 per diluted share for the quarter ended March 31. The result compared with a profit of $314.8 million or $1.18 ... Read More »

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Teck Resources reports $305M Q1 profit, boosted by higher commodity prices

By The Canadian Press on April 28th, 2021

VANCOUVER – Teck Resources Ltd. reported a first-quarter profit of $305 million compared with a loss a year earlier, helped by higher commodity prices. The Vancouver-based mining company says prices for copper, zinc and blended bitumen were all higher than a year ago, partially offset by the effect of the strengthening Canadian dollar. The profit ... Read More »

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Ontario fiscal watchdog releasing COVID-19 pandemic insolvency report today

By The Canadian Press on April 28th, 2021

TORONTO – Ontario’s fiscal watchdog will release a report today on the impact of the pandemic on insolvencies across the province. The Financial Accountability Office says it conducted the study at the request of an Ontario legislative committee. The Ontario government has introduced a series of measures to help small businesses survive several rounds of ... Read More »

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EU lawmakers approve post-Brexit trade treaty

By The Associated Press on April 28th, 2021

BRUSSELS – European lawmakers have approved the final ratification of the post-Brexit trade deal between the European Union and the United Kingdom, nearly five years after Britain decided to leave the bloc. The deal, which was finalized on Christmas Eve, had already been ratified by the U.K. Parliament and conditionally came into force pending the ... Read More »

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Facing $11B tax bill, Samsung heirs donate mass art trove

By Kim Tong-Hyung, The Associated Press on April 27th, 2021

SEOUL, Korea, Republic Of – Samsung’s founding family will donate tens of thousands of rare artworks, including Picassos and Dalis, and give hundreds of millions of dollars to medical research to help them pay a massive inheritance tax following last year’s death of chairman Lee Kun-Hee. The Lee family, including his wife and three children, ... Read More »

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India tops 200,000 dead as virus surge breaks health system

By Sheikh Saaliq, The Associated Press on April 27th, 2021

NEW DELHI – India crossed a grim milestone Wednesday of 200,000 people lost to the coronavirus as a devastating surge of new infections tears through dense cities and rural areas alike and overwhelms health care systems on the brink of collapse. The health ministry reported 3,293 daily COVID-19 deaths in the last 24 hours, bringing ... Read More »

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