Business
Macklem says interest rate cut in June possible after holding policy rate once again
By Nojoud Al Mallees, The Canadian Press on April 10th, 2024
OTTAWA – Bank of Canada governor Tiff Macklem says the central bank could begin lowering its key interest rate at its next decision in June after deciding to hold it steady for now. “Yes, it’s within the realm of possibilities,” Macklem said in response to a question about the possibility of a rate cut in ... Read More »
Be the first to comment!Canfor closing Jackson mill as part of restructuring in Alabama
By The Canadian Press on April 10th, 2024
VANCOUVER – Canfor Corp. is closing its Jackson mill in southern Alabama at the end of June as part of a restructuring of its operations in the state. The forestry company says as part of the changes in Alabama it will add a second shift at its nearby Fulton mill. Canfor is also set to ... Read More »
Be the first to comment!BoC holds key interest rate at 5%, signals that it’s inching closer to rate cuts
By The Canadian Press on April 10th, 2024
OTTAWA – The Bank of Canada continued to hold its key interest rate at five per cent today and said it has begun to see the economic conditions necessary to lower interest rates. Governor Tiff Macklem says economic data since January has improved the central bank’s confidence that inflation will continue to slow, even as ... Read More »
Be the first to comment!Former Trump executive Allen Weisselberg sentenced to 5 months in jail for lying in civil fraud case
By Michael R. Sisak, The Associated Press on April 10th, 2024
NEW YORK (AP) – Allen Weisselberg, a retired executive in Donald Trump’s real estate empire, was sentenced on Wednesday to five months in jail for lying under oath during his testimony in the civil fraud lawsuit brought against the former president by New York’s attorney general. Weisselberg, 76, pleaded guilty last month to two counts ... Read More »
Be the first to comment!Roots CEO sees consumers getting back to discretionary spending in back half of year
By Tara Deschamps, The Canadian Press on April 10th, 2024
TORONTO – Roots Corp. executives say the back half of 2024 will likely see consumers edging back into purchasing discretionary goods they forewent as inflation and interest rates climbed. “Interest rates are playing a big impact on consumer discretionary spending broadly. We saw that in the fourth quarter and we expect to continue to see ... Read More »
Be the first to comment!Higher gas and rents keep US inflation elevated, likely delaying Fed rate cuts
By Christopher Rugaber, The Associated Press on April 10th, 2024
WASHINGTON (AP) – Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year. Prices outside the volatile food and ... Read More »
Be the first to comment!US inflation up again in March in latest sign that price pressures remain elevated
By Christopher Rugaber, The Associated Press on April 10th, 2024
WASHINGTON (AP) – Consumer price increases remained high last month, boosted by gas, rents, and car insurance, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year. Prices outside the volatile food and energy categories ... Read More »
Be the first to comment!Delta Air Lines posts a narrow Q1 profit and says travel demand remains strong despite flight scares
By David Koenig, The Associated Press on April 10th, 2024
Delta Air Lines eked out a narrow first-quarter profit and said Wednesday that demand for travel is strong heading into the summer-vacation season, with travelers seemingly unfazed by recent incidents in the industry that ranged from a panel blowing off a jetliner midflight flight to a tire falling off another plane during takeoff. Delta reported ... Read More »
Be the first to comment!Quebecor expanding discount wireless brand Fizz to four provinces
By Sammy Hudes, The Canadian Press on April 10th, 2024
Quebecor Inc.’s Fizz is expanding to Ontario, Manitoba, Alberta and B.C. through a framework that allows regional cellphone providers to compete across Canada using networks built by its larger rivals. The flanker – a term commonly used to describe discount brands owned by major carriers – says it will offerintroductory plans starting at $14 a ... Read More »
Be the first to comment!Retailer Roots reports $14.6M Q4 profit, up from $13.0M a year earlier
By The Canadian Press on April 10th, 2024
TORONTO – Roots Corp. reported its fourth-quarter profit rose to $14.6 million, up from $13.0 million a year earlier, as its sales fell nearly three per cent. The Toronto-based retailer says the profit amounted to 36 cents per share for the quarter ended Feb. 3, up from 31 cents per share a year earlier. Overall ... Read More »
Be the first to comment!BoC to announce interest rate decision this morning, expected to hold rate at 5%
By The Canadian Press on April 10th, 2024
OTTAWA – The Bank of Canada is set to announce its interest rate decision this morning. It’s widely expected to maintain its key interest rate at five per cent, but economists will be watching for any hints about the timing of upcoming rate cuts. Forecasters expect the central bank to begin lowering its key rate ... Read More »
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