Business
Two blows to B.C.’s credit status, as S&P cuts rating and Moody’s turns negative
By The Canadian Press on April 9th, 2024
NEW YORK – British Columbia’s credit status took a double blow on Tuesday, with S&P downgrading the province due to the risk of “outsize” deficits, and Moody’s turning its outlook negative. S&P Global Ratings blamed big government spending as it dropped its credit rating for the province and BC Hydro’s provincially guaranteed unsecured debt from ... Read More »
Be the first to comment!Zebra mussels may prompt closure of national park lake, Manitoba government says
By The Canadian Press on April 9th, 2024
WINNIPEG – The Manitoba government says Parks Canada is considering closing a popular lake to boating this year because of zebra mussels. Jamie Moses, the province’s natural resources minister, says the potential closure of Clear Lake, in Riding Mountain National Park, would harm tourism, the economy and area residents. Moses says he wants the federal ... Read More »
Be the first to comment!S&P downgrades B.C.’s credit rating, citing ‘outsized’ deficits, ‘record’ spending
By The Canadian Press on April 9th, 2024
NEW YORK – British Columbia’s credit rating has been downgraded by S&P due to concerns that big spending by the government could lead to “outsized” deficits and lower internal liquidity levels. S&P Global Ratings says it lowered the rating for the province and BC Hydro’s provincially guaranteed unsecured debt from “AA” status to “AA-minus.” The ... Read More »
Be the first to comment!S&P/TSX gains 100 points, U.S. markets mixed ahead of inflation reports
By Rosa Saba, The Canadian Press on April 9th, 2024
TORONTO – Broad-based strength led by base metals helped Canada’s main stock index gain more than 100 points on Tuesday, while U.S. markets muddled to a mixed close ahead of highly anticipated inflation data coming this week. Markets continued in their holding pattern ahead of an action-packed Wednesday that will see fresh data on inflation ... Read More »
Be the first to comment!S&P/TSX composite gains 100 points, U.S. markets mixed ahead of inflation report
By The Canadian Press on April 9th, 2024
TORONTO – Broad-based strength led by base metals helped Canada’s main stock index gain more than 100 points on Tuesday, while U.S. markets muddled to a mixed close ahead of highly anticipated inflation data coming this week. The S&P/TSX composite index closed up 101.48 points at 22,361.78. In New York, the Dow Jones industrial average ... Read More »
Be the first to comment!Stock market today: Wall Street steadies as bond yields ease ahead of inflation report
By Stan Choe, The Associated Press on April 9th, 2024
NEW YORK (AP) – Stocks meandered to a mixed close on Wall Street as traders made their final moves before several potentially market-moving reports later in the week. The S&P 500 edged up 0.1% Tuesday. The Dow Jones Industrial Average was little changed, and the Nasdaq composite inched up 0.3%. Treasury yields eased in the ... Read More »
Be the first to comment!Higher oil doesn’t shake industry talk on spending discipline at CAPP conference
By The Canadian Press on April 9th, 2024
TORONTO – The price of oil has been on a steady climb all year, but the talk at Canada’s biggest oil and gas conference is still focused on spending discipline. Industry leaders at the Canadian Association of Petroleum Producers conference, held in Toronto this year, have been emphasizing their predictability and focus on returning money ... Read More »
Be the first to comment!Controversial wind-powered hydrogen project gets final approval in Newfoundland
By The Canadian Press on April 9th, 2024
ST. JOHN’S, N.L. – A controversial wind-powered hydrogen development proposed for the west coast of Newfoundland has cleared its last hurdle with the provincial government. The Newfoundland and Labrador government announced today it has approved the environmental impact assessment submitted by World Energy GH2 for its plan to erect two 164-turbine wind farms and an ... Read More »
Be the first to comment!Norfolk Southern agrees to $600M settlement in fiery Ohio derailment. Locals fear it’s not enough
By Josh Funk, The Associated Press on April 9th, 2024
Norfolk Southern has agreed to pay $600 million in a class-action lawsuit settlement for a fiery February 2023 train derailment in eastern Ohio, but local residents worry the money not only won’t go far enough to cover future health needs that could be tremendous but also won’t amount to much once divvied up. “It’s not ... Read More »
Be the first to comment!Chair of Alberta Energy Regulator says he’s stepping down in September
By The Canadian Press on April 9th, 2024
CALGARY – The board chair of the Alberta Energy Regulator says he’s stepping down from the job in September. David Goldie says it’s a good time to take on new challenges as he approaches the five-year mark at the watchdog agency. Goldie joined the AER in 2019 when the board was given the mandate to ... Read More »
Be the first to comment!Telecoms tout eclipse plans after wireless networks handle increased traffic
By Sammy Hudes, The Canadian Press on April 9th, 2024
TORONTO – Canada’s two largest mobile carriers say bolstered capacity measures helped their networks handle the extra wireless traffic in hot-spot regions where tens of thousands of people gathered to take in Monday’s total solar eclipse. BCE Inc. said its Bell network saw five times the regular volume of traffic in areas including Niagara, Hamilton, ... Read More »
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