April 17th, 2021

Business

S&P/TSX, Dow Jones and S&P 500 set record highs as mood rises on economic positives

By The Canadian Press on April 15th, 2021

TORONTO – Broad-based optimism lifted Canada’s main stock index to a record close as U.S. stock markets also pushed higher on strong economic news. The S&P/TSX composite index was up 150.26 points at 19,321.92. In New York, the Dow Jones industrial average jumped 305.10 points to a record high of 34,035.99. The S&P 500 index ... Read More »

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CRTC to allow smaller wireless players better access to national networks

By The Canadian Press on April 15th, 2021

Canada’s biggest wireless network operators suffered a major setback today as the CRTC issued orders that will make it easer for smaller rivals to compete, which in turn will likely reduce costs for mobile phone users. The federal telecom regulator is adopting many of the recommendations that consumer groups and smaller telecom businesses pursued as ... Read More »

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After union vote, Bezos vows to do better for Amazon workers

By Joseph Pisani, The Associated Press on April 15th, 2021

NEW YORK – After a union battle at an Alabama warehouse, Amazon founder Jeff Bezos acknowledged that Amazon has to do better for its workers and vowed to make Amazon a safer place to work. Bezos made the promise Thursday in his annual letter to shareholders. He said he didn’t take comfort in the outcome ... Read More »

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Smaller telecoms hope for big win when CRTC releases landmark decision on MVNOs

By David Paddon, The Canadian Press on April 15th, 2021

TORONTO – TextNow of Waterloo, Ont., is one of the smaller, little-known telecom companies that will be affected by a big CRTC regulatory decision that’s to be released Thursday afternoon. Founded in 2009 by two University of Waterloo students, TextNow has an advertising-supported app that provides users with a 10-digit phone number and unlimited calling ... Read More »

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AIMCo names former CMHC head Evan Siddall as next chief executive

By The Canadian Press on April 15th, 2021

EDMONTON – Alberta Investment Management Corp. has named the former head of Canada Mortgage and Housing Corp. as its next chief executive. The investment manager says Evan Siddall will officially start the job on July 1. He will succeed Kevin Uebelein, who has been AIMCo’s CEO since since Jan. 1, 2015. AIMCo has more than ... Read More »

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Bank of America profit doubles in 1Q to $8.1 billion

By Ken Sweet, The Associated Press on April 15th, 2021

NEW YORK – Bank of America’s profits doubled in the first quarter, the bank said Thursday, as the improving economy allowed it to release billions from its loan-loss reserves that it originally set aside in the early days of the pandemic. Bank of America is the latest of the big banks to say it has ... Read More »

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After union fight, Jeff Bezos to focus on Amazon workers

By Joseph Pisani, The Associated Press on April 15th, 2021

NEW YORK – After a union battle at an Alabama warehouse, Amazon founder Jeff Bezos said that as executive chairman he will focus on making the company a better place to work. Bezos made the disclosure Thursday in his annual letter to shareholders. He said he didn’t take comfort in the outcome of the recent ... Read More »

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$1,400 stimulus checks helped March retail sales soar 9.8%

By Joseph Pisani, The Associated Press on April 15th, 2021

NEW YORK – Newly vaccinated and armed with $1,400 stimulus checks, Americans went on a spending spree last month, buying new clothes and going out to eat again. Retail sales surged a seasonally adjusted 9.8% in March after dropping about 3% the month before, the Commerce Department said Thursday. The increase was the biggest since ... Read More »

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Citigroup profit triples in 1Q, tops estimates; revenue down

By Ken Sweet, The Associated Press on April 15th, 2021

NEW YORK – Citigroup’s profits more than tripled in the first quarter, the banking conglomerate said Thursday, helped by the release of billions of dollars from its loan-loss reserves. The bank also announced plans to scale back its global consumer banking franchise outside the U.S. The New York-based company said it earned a profit of ... Read More »

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Toyota recalls Venza SUVs to fix air bag wiring problem

By The Associated Press on April 15th, 2021

DETROIT – Toyota is recalling nearly 280,000 Venza SUVs in the U.S. because a wiring problem can stop the side air bags from inflating in a crash. The recall covers Venzas from the 2009 through 2015 model years. Documents posted Thursday by the U.S. National Highway Traffic Safety Administration say wires to the air bag ... Read More »

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