Business
Teamsters launch court appeal of Ottawa’s move to end rail shutdown
By Christopher Reynolds, The Canadian Press on August 30th, 2024
MONTREAL – The union representing thousands of railroaders has appealed the moves that ended the rail shutdown last week – a work stoppage that halted freight and commuter traffic across the country. In filings to the Federal Court of Appeal, the Teamsters union challenged directives for binding arbitration issued to a labour board by federal ... Read More »
Be the first to comment!Scotiabank closes first phase of investment in U.S. bank KeyCorp
By The Canadian Press on August 30th, 2024
TORONTO – Scotiabank says it has completed the first step in its investment in KeyCorp with the acquisition of a 4.9 per cent stake in the U.S. bank. The Canadian bank says it paid US$17.17 per share or about US$800 million for the stake. Scotiabank announced earlier this month a deal to acquire a 14.9 ... Read More »
Be the first to comment!Teamsters launch court appeal of feds’ move to end rail shutdown
By Christopher Reynolds, The Canadian Press on August 30th, 2024
The union representing thousands of railroaders has appealed the moves that ended the rail shutdown last week – a work stoppage that halted freight and commuter traffic across the country. In filings to the Federal Court of Appeal, the Teamsters union challenged directives for binding arbitration issued to a labour board by federal Labour Minister ... Read More »
Be the first to comment!Canadian rail union says it has filed lawsuits challenging back-to-work orders
By Josh Funk, The Associated Press on August 30th, 2024
The Teamsters union that represents workers at both of Canada’s largest freight railroads has filed the lawsuits it promised challenging the orders that forced employees back to work and got the trains moving again, the union announced Friday. The Teamsters Canada Rail Conference doesn’t want to let the precedent stand that the government can block ... Read More »
Be the first to comment!Canadian economy grows at 2.1% annual pace in Q2, per-capita household spending drops
By Nojoud Al Mallees, The Canadian Press on August 30th, 2024
OTTAWA – The economy grew at an annualized rate of 2.1 per cent in the second quarter – beating the Bank of Canada’s forecast – but continued to shrink on a per-person basis. Statistics Canada’s real gross domestic product report on Friday said growth was supported by higher government spending, business investment in engineering structures ... Read More »
Be the first to comment!Canadian economy grows at 2.1% annual pace in Q2, per-capita household spending slows
By Nojoud Al Mallees, The Canadian Press on August 30th, 2024
OTTAWA – The economy grew at an annualized rate of 2.1 per cent in the second quarter – beating the Bank of Canada’s forecast – but continued to shrink on a per-person basis. Statistics Canada’s real gross domestic product report on Friday said growth was supported by higher government spending, business investment in engineering structures ... Read More »
Be the first to comment!Teamsters launch court appeal of labour minister’s move to end rail shutdown
By The Canadian Press on August 30th, 2024
The union representing thousands of rail workers is appealing the federal government’s decision to end a shutdown that halted freight traffic and commuters across the country. In filings to the Federal Court of Appeal, the Teamsters union is challenging a directive for binding arbitration issued to a labour board by Labour Minister Steven MacKinnon following ... Read More »
Be the first to comment!Canadian economy grows at 2.1% annual pace in Q2 even as household spending drops
By The Canadian Press on August 30th, 2024
OTTAWA – The economy grew at an annualized rate of 2.1 per cent in the second quarter – beating the Bank of Canada’s forecast – but continued to shrink on a per-person basis. Statistics Canada’s real gross domestic product report on Friday said growth was supported by higher government spending, business investment in engineering structures ... Read More »
Be the first to comment!Federal Reserve’s favored inflation gauge shows price pressures easing as rate cuts near
By Christopher Rugaber, The Associated Press on August 30th, 2024
WASHINGTON (AP) – An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years. Prices rose just 0.2% from June to July, ... Read More »
Be the first to comment!Canadian economy grows 2.1% in second quarter
By The Canadian Press on August 30th, 2024
OTTAWA – Statistics Canada says the economy grew at an annualized rate of 2.1 per cent in the second quarter, surpassing the Bank of Canada’s forecast. Growth was supported by higher government spending, business investment in engineering structures as well as machinery and equipment and household spending on services. Meanwhile, the economy posted declines in ... Read More »
Be the first to comment!CWB reports Q3 profit down from year ago, provision for credit losses up
By The Canadian Press on August 30th, 2024
EDMONTON – CWB Financial Group reported its third-quarter profit fell compared with a year ago as it saw the amount it set aside for bad loans climb higher. The company behind Canadian Western Bank, which agreed in June to be acquired by National Bank of Canada, says its common shareholders’ net income amounted to $41.4 ... Read More »
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