August 25th, 2019

Business

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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Estate planning for Fido: How to make sure pets live the good life if you go

By Aleksandra Sagan, The Canadian Press on August 22nd, 2019

If four-year-old Gracie’s parents die, a trusted family member receives $10,000 from their estate to care for the Bernese Mountain Dog and poodle mix. Gracie’s owner Suzanne Willett is part of a growing number of Canadians who include their furry family members in estate plans to ensure they’re well cared for if something happens to ... Read More »

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CIBC hikes dividend as it reports third-quarter profit up two per cent

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 as growth in Canadian personal and small business banking was offset by weaker capital markets earnings. The Toronto-based bank says it will now pay a quarterly dividend of $1.44 per share, up ... Read More »

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Trump flip-flops on tax cuts, saying US has ‘strong economy’

By Kevin Freking, Josh Boak And Jonathan Lemire, The Associated Press on August 22nd, 2019

WASHINGTON – A day after considering cutting taxes to promote economic growth, President Donald Trump changed course and said he would abandon the idea because the nation already had “a strong economy.” Trump’s flip-flop on Wednesday came after recent market volatility and economic uncertainty, and amid a debate about whether the United States was heading ... Read More »

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Retailers’ results show sharp divide between losers, winners

By Anne D'Innocenzio, The Associated Press on August 21st, 2019

NEW YORK – The divide between retail winners and losers is widening. That became even more evident Wednesday with the latest batch of earnings reports: Big-box stores and off-price retailers have been responding faster to shoppers’ increasing shift online with expanded deliveries and better merchandise. But many mall-based clothing chains and department stores continue to ... Read More »

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Trump flip-flops on tax cuts, citing ‘strong economy’

By Kevin Freking, Josh Boak And Jonathan Lemire, The Associated Press on August 21st, 2019

WASHINGTON – A day after considering cutting taxes to promote economic growth, President Donald Trump on Wednesday changed course and said he would abandon the idea because the nation already had “a strong economy.” Trump’s flip-flop came after recent market volatility and economic uncertainty, and amid a debate about whether the United States was heading ... Read More »

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More Telcos raise concern over CRTC’s new wholesale broadband rates

By Ian Bickis, The Canadian Press on August 21st, 2019

TORONTO – A growing number of telecom companies are pushing back against the CRTC’s decision to lower the rates they can charge smaller internet providers to use their networks. Shaw Communications Inc. warned Wednesday of long-term negative consequences from the decision to dramatically reduce the federally regulated wholesale broadband prices. “In time, this decision will ... Read More »

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North American stock markets almost recover from last week’s big losses

By The Canadian Press on August 21st, 2019

TORONTO – North American stock indexes have almost recovered from last week’s steep losses after moving higher on some strong earnings results. The S&P/TSX composite index closed up 95.92 points at 16,309.23. In New York, the Dow Jones industrial average was up 240.29 points at 26,202.73. The S&P 500 index was up 23.92 points at ... Read More »

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