August 24th, 2019

Business

Billionaire David Koch, conservative donor, dies at age 79

By Steve Peoples, The Associated Press on August 23rd, 2019

WASHINGTON – Billionaire industrialist David H. Koch, who with his older brother, Charles, transformed American politics by pouring their riches into conservative causes, has died at age 79. Charles Koch announced the death on Friday, saying, “It is with a heavy heart that I now must inform you of David’s death.” David Koch, who lived ... Read More »

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Statistics Canada says June retail sales essentially unchanged from May

By The Canadian Press on August 23rd, 2019

OTTAWA – Statistics Canada says retail sales were essentially unchanged in June as lower sales at motor vehicle and parts dealers and gas stations offset gains in most of the other subsectors. Economists on average had expected a decline of 0.1 per cent, according to the financial markets data firm Refinitiv. Sales were down in ... Read More »

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Cargojet Inc. new deal with Amazon to grow business with the retailer

By The Canadian Press on August 23rd, 2019

MISSISSAUGA, Ont. – Cargojet Inc. has signed a new deal with Amazon.com that could see the online retailer acquire a stake in the company which provides overnight air cargo services. Amazon uses Cargojet’s overnight air network and charter aircraft services to move packages between facilities and to other carrier locations. Under the agreement, Cargojet will ... Read More »

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Apple wants people to know how to clean its new credit card

By Michael Liedtke, The Associated Press on August 22nd, 2019

SAN FRANCISCO – Apple believes some of its zealous customers will treasure its new titanium credit card so much that they will spend time polishing its white finish. That’s why Apple has posted instructions on how to clean the card properly and warned that some materials might leave blemishes that are difficult to remove. The ... Read More »

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Peppa Pig to get new owner: GI Joe maker Hasbro

By The Associated Press on August 22nd, 2019

NEW YORK – Hasbro is going whole hog on Peppa Pig. The maker of Monopoly and GI Joe will pay about $4 billion to buy Entertainment One Ltd., a British entertainment company that produces “Peppa Pig,” ”PJ Masks” and other animated shows for preschoolers. “Peppa Pig,” which stars a pink cartoon pig with a British ... Read More »

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TSX moves lower on signals about interest rate cuts from Federal Reserve

By The Canadian Press on August 22nd, 2019

TORONTO – Canada’s main stock index moved lower amid signals that the U.S. Federal Reserve may not cut interest rates as much as markets have expected. The S&P/TSX composite index closed down 55.77 points at 16,253.46. In New York, the Dow Jones industrial average was up 49.51 points at 26,252.24. The S&P 500 index was ... Read More »

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Acadian Timber shares fall after Brookfield sells its 45% stake to Macer

By The Canadian Press on August 22nd, 2019

TORONTO – Shares in Vancouver-based Acadian Timber Corp. continue to drop after Brookfield Asset Management Inc. sold its 45 per cent stake in the timberland operator to held Macer Forest Holdings Inc. Brookfield announced after markets closed Tuesday it had sold the stake for $128 million or $17 per share. Since then, the shares have ... Read More »

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North American stock markets down in late-morning trading, loonie down

By The Canadian Press on August 22nd, 2019

TORONTO – Canada’s main stock index was down in late-morning trading, as the key industrials sector fell and the health-care sector, which includes the big cannabis companies, also lost ground. The S&P/TSX composite index was down 50.25 points at 16,258.98. In New York, the Dow Jones industrial average was down 7.73 points at 26,195.00. The ... Read More »

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Statistics Canada reports wholesale sales up 0.6 per cent in June

By The Canadian Press on August 22nd, 2019

OTTAWA – Statistics Canada says wholesale sales climbed 0.6 per cent to $64.1 billion in June following a drop of 1.9 per cent in May. Economists had expected an increase of 0.3 per cent for June, according to the financial markets data firm Refinitiv. Sales were up in four of seven subsectors, representing 54 per ... Read More »

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CIBC hikes dividend as it reports third-quarter profit rise, beating estimates

By The Canadian Press on August 22nd, 2019

TORONTO – The Canadian Imperial Bank Of Commerce hiked its dividend and reported a two per cent rise in its third-quarter net income to beat analyst estimates. The Toronto-based lender saw growth in Canadian personal and small business banking and its U.S. commercial banking platform, but this was offset by weaker capital markets earnings. CIBC ... Read More »

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