March 4th, 2024

Business

Stock market today: Wall Street climbs to more records as bond yields ease

By Stan Choe, The Associated Press on March 1st, 2024

NEW YORK (AP) – Wall Street added to its records as U.S. stocks closed out another winning week. The S&P 500 rose 0.8% Friday. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite rose 1.1%. More leaps for Dell and other companies on excitement around artificial-intelligence technology helped drive the market. Dell soared ... Read More »

Be the first to comment!

CMHC ends first-time homebuyer incentive, a program critics say ‘made no sense’

By Ian Bickis, The Canadian Press on March 1st, 2024

Canada’s housing agency says it is ending the first-time homebuyer incentive program, which many had criticized as unhelpful. Canada Mortgage and Housing Corp. said in a notice on its website that the deadline for new or updated submissions to the program is midnight eastern time on March 21. The plan was meant to help first-time ... Read More »

Be the first to comment!

Calgary home sales up almost 23 per cent in February, prices rising

By The Canadian Press on March 1st, 2024

CALGARY – The Calgary Real Estate Board (CREB) says February home sales were up nearly 23 per cent from last year as new listings rose. The board says sales totalled 2,135 units, while the volume of sales in dollars rose 41.3 per cent to $1.25 billion. New listings were up 13.6 per cent to 2,711, ... Read More »

Be the first to comment!

Boeing is reportedly in talks to buy Spirit AeroSystems, its key supplier on the troubled 737 Max

By David Koenig, The Associated Press on March 1st, 2024

DALLAS (AP) – Boeing is in talks to buy Spirit AeroSystems, which builds fuselages for Boeing 737 Max jetliners, including the one that suffered a door-panel blowout in January, according to a person knowledgeable about the discussions. The timing of a deal – or whether the two sides even reach a final agreement – is ... Read More »

Be the first to comment!

Body Shop Canada files for bankruptcy protection, plans restructuring

By Tara Deschamps, The Canadian Press on March 1st, 2024

TORONTO – The Body Shop Canada Ltd. says it will close 33 stores and halt its e-commerce operations as it seeks to restructure itself under the Bankruptcy and Insolvency Act. The Canadian subsidiary of the international cosmetics brand announced Friday that it will immediately begin liquidating almost a third of its 105 stores. The company ... Read More »

Be the first to comment!

AtkinsRéalis to sell Linxon joint venture after beating earnings expectations

By Christopher Reynolds, The Canadian Press on March 1st, 2024

MONTREAL – AtkinsRéalis chief executive Ian Edwards announced the engineering firm is looking to sell its money-losing joint venture with Hitachi Energy after beating earnings expectations and notching a record services backlog last quarter. The CEO said the company formerly known as SNC-Lavalin plans to explore the sale of its stake in Linxon, which focuses ... Read More »

Be the first to comment!

CMHC says first-time homebuyer incentive discontinued

By The Canadian Press on March 1st, 2024

OTTAWA – Canada’s housing agency says it is ending the first-time homebuyer incentive program. Canada Mortgage and Housing Corp. says the deadline for new or updated submissions to the program is midnight eastern time on March 21. The plan was meant to help reduce monthly mortgage payments for first-time buyers by having the government take ... Read More »

Be the first to comment!

S&P/TSX composite up more than 200 points as price of oil rises

By The Canadian Press on March 1st, 2024

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, helped by strength in the energy stocks as the price of oil moved higher. The S&P/TSX composite index was up 216.53 points at 21,580.14. In New York, the Dow Jones industrial average was up 23.14 points at 39,019.53. The S&P ... Read More »

Be the first to comment!

MEG Energy promotes chief operating officer Darlene Gates to chief executive

By The Canadian Press on March 1st, 2024

CALGARY – MEG Energy Corp. is promoting Darlene Gates to the role of chief executive. The oilsands company says Gates, who is the company’s chief operating officer, will take over the top job on May 1 when Derek Evans steps down from the role. She will also be nominated for election to the MEG board ... Read More »

Be the first to comment!

Stock market today: Wall Street drifts in early trading and holds near record highs

By Zimo Zhong And Matt Ott, The Associated Press on March 1st, 2024

NEW YORK (AP) – Wall Street is drifting near its record highs in early trading. The S&P 500 edged up 0.1% early Friday after setting an all-time high the day before. The Dow slipped 33 points, or 0.1%, and the Nasdaq composite was up 0.3% a day after surpassing the record high it set in ... Read More »

Be the first to comment!