Business
Cisco cuts thousands of jobs, 7% of workforce, as it shifts focus to AI, cybersecurity
By The Associated Press on August 14th, 2024
SAN JOSE, California (AP) – Cisco Systems is planning to lay off 7% of its employees, its second round of job cuts this year as the company shifts its focus to more rapidly growing areas in technology, such as artificial intelligence and cybersecurity. The company based in San Jose, California, did not specify the number ... Read More »
1 responseGold mining company faces multiple legal challenges after Yukon ore slide
By The Canadian Press on August 14th, 2024
WHITEHORSE – The company that owns a Yukon gold mine that was the site of what the nearby First Nation has called an “environmental catastrophe” is facing a litany of legal challenges in Yukon, Ontario and British Columbia. Both the Yukon government and the First Nation of Na-Cho Nyak Dun have filed documents in separate ... Read More »
1 responseS&P/TSX composite rises Wednesday, U.S. stock markets coast after inflation report
By The Canadian Press on August 14th, 2024
TORONTO – Canada’s main stock index rose Wednesday amid broad-based strength on Bay St., while U.S. stock markets coasted after the latest report on inflation. The S&P/TSX composite index closed up 141.83 points at 22,760.01. In New York, the Dow Jones industrial average was up 242.75 points at 40,008.39. The S&P 500 index was up ... Read More »
1 responseWestJet says flight cancellations post-hailstorm to continue for ‘foreseeable future’
By The Canadian Press on August 14th, 2024
CALGARY – WestJet says it will be issuing flight cancellations “for the foreseeable future” after planes were damaged by a Calgary hailstorm last week, upending travel plans for thousands of passengers. The country’s second-biggest carrier says 16 aircraft, or 10 per cent of its fleet, remain out of commission nine days after the tempest rained ... Read More »
1 responseStock market today: Wall Street ticks higher after inflation data clears the path for cuts to rates
By Stan Choe, The Associated Press on August 14th, 2024
NEW YORK (AP) – Wall Street ticked higher after the latest update on inflation came in almost exactly as economists expected. The S&P 500 rose 0.4% Wednesday, coming off one of its best days of the year. The Dow Jones Industrial Average added 0.6%, and the Nasdaq composite ended basically flat. Treasury yields were steady ... Read More »
1 responseSweet and salty deal worth $30 billion would put M&M’s and Snickers alongside Cheez-It and Pringles
By Dee-ann Durbin And Michelle Chapman, The Associated Press on August 14th, 2024
M&M’s maker Mars is buying Kellanova, the maker of Cheez-Its and Pop-Tarts, for nearly $30 billion in an effort to broaden its snacking portfolio and expand globally. Kellanova was created last year when the Kellogg Co. split into two companies. Chicago-based Kellanova sells many of the former company’s most profitable brands, including Pringles, Eggo, Town ... Read More »
Be the first to comment!B.C. report explores inequalities in justice, health, child-welfare systems
By The Canadian Press on August 14th, 2024
VANCOUVER – British Columbia’s Human Rights Commissioner says inequalities are baked into the province’s justice, health and child-welfare systems. Kasari Govender says her office’s latest report is aimed at spotlighting the human rights issues people face when they come into contact with 10 provincial systems, especially Indigenous people, women and other marginalized groups. Govender says ... Read More »
Be the first to comment!Rogers says Corus’s business model ‘broken’ after being accused of ‘predatory’ action
By Sammy Hudes, The Canadian Press on August 14th, 2024
Corus Entertainment Inc. has filed a complaint with Canada’s broadcasting regulator alleging Rogers Communications Inc. is “engaging in predatory behaviour” to suppress potential competition and breaching its regulatory requirements. In a July 26 letter to the CRTC, posted online in redacted form this week, Corus vice-president and associate general counsel Matt Thompson asked for regulatory ... Read More »
Be the first to comment!Victoria Gold says it opposes Yukon application for receiver, First Nation also files
By The Canadian Press on August 14th, 2024
WHITEHORSE – The company that owns the gold mine where a failure led to a massive release of cyanide-contaminated ore says it plans to oppose an application by the Yukon government seeking the appointment of a receiver over the firm and its property. The First Nation of Na-Cho Nyak Dun says it has also filed ... Read More »
Be the first to comment!Eight hospitalized, three dozen displaced after Vancouver apartment fire
By The Canadian Press on August 14th, 2024
VANCOUVER – Officials with the City of Vancouver say eight people have been taken to hospital after a fire at an apartment building in the Kitsilano neighbourhood. A statement from the city says the fire began at about 2:30 a.m. Wednesday and firefighters arrived “immediately” to fight the flames and evacuate residents. The city says ... Read More »
Be the first to comment!Power utility Hydro One reports Q2 profit and revenue up from year ago
By The Canadian Press on August 14th, 2024
TORONTO – Hydro One Ltd. reported its second-quarter profit rose compared with a year ago. The power utility says its net income attributable to common shareholders amounted to $292 million or 49 cents per diluted share for the quarter ended June 30. The result was up from a profit of $265 million or 44 cents ... Read More »
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