Business
Disney shareholders back CEO Iger, rebuff activist shareholders who wanted to shake up the company
By The Associated Press on April 3rd, 2024
BURBANK, Calif. (AP) – Disney shareholders rallied behind longtime CEO Robert Iger, voting Wednesday to rebuff activist investor Nelson Peltz and his ally, former Disney chief financial officer Jay Rasulo, who had sought seats on the company’s board. The company had recommended a slate of directors that did not include Peltz or Rasulo. The dissident ... Read More »
Be the first to comment!Powell: Fed still sees rate cuts this year; election timing won’t affect decision
By Christopher Rugaber, The Associated Press on April 3rd, 2024
WASHINGTON (AP) – Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February. “The recent data do not … materially change the overall picture,” Powell said ... Read More »
Be the first to comment!Powell: Federal Reserve is still on track to cut rates despite signs of persistent inflation
By Christopher Rugaber, The Associated Press on April 3rd, 2024
WASHINGTON (AP) – Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February. “The recent data do not … materially change the overall picture,” Powell said ... Read More »
Be the first to comment!Greater Vancouver home sales down nearly 5% in March as prices rise: board
By The Canadian Press on April 3rd, 2024
VANCOUVER – Greater Vancouver’s real estate board says the number of homes that changed hands in March fell from the previous year, as total sales were nearly one-third lower than the 10-year average. Greater Vancouver Realtors says there were 2,415 home sales in the region last month, a 4.7 per cent decrease from the 2,535 ... Read More »
Be the first to comment!S&P/TSX composite up as price of oil moves higher, U.S. stock markets also rise
By The Canadian Press on April 3rd, 2024
TORONTO – Strength in energy and base metal stocks helped lift Canada’s main stock index higher as the price of oil rose in late-morning trading, while U.S. stock markets also moved up. The S&P/TSX composite index was up 78.02 points at 22,153.12. In New York, the Dow Jones industrial average was up 79.91 points at ... Read More »
Be the first to comment!Car sales up 9.2 per cent in March, though signs of weakness increasing: Desrosiers
By The Canadian Press on April 3rd, 2024
TORONTO – DesRosiers Automotive Consultants Inc. says March auto sales were up 9.2 per cent from last year, but it marks a slowdown from a record February gain. It says an estimated 159,000 units were sold last month, while sales for the first quarter overall totalled 401,000 vehicles, up 15.3 per cent from the first ... Read More »
Be the first to comment!Tech industry says barriers keep Canadian companies from selling to government
By Anja Karadeglija, The Canadian Press on April 3rd, 2024
OTTAWA – Bureaucracy makes it too difficult for Canadian tech companies to sell to government, a new report from an industry group says – and all that red tape is keeping them from a bigger piece of the billions spent on procurement. In some cases, companies find it easier to sell to foreign governments, says ... Read More »
Be the first to comment!Stock market today: Wall Street drifts in early trading as its momentum ebbs following a big run
By Yuri Kageyama And Matt Ott, The Associated Press on April 3rd, 2024
NEW YORK (AP) – U.S. stock indexes are drifting in early trading, as Wall Street’s momentum ebbs following its big run over the last six months. The S&P 500 was down 0.1% early Wednesday, coming off its worst day in four weeks. The Dow Jones Industrial Average slipped 11 points, and the Nasdaq composite was ... Read More »
Be the first to comment!Lithium company Winsome Resources signs option deal to buy Storonoway’s Renard mine
By The Canadian Press on April 3rd, 2024
Australian lithium company Winsome Resources has signed a call option agreement that will allow it to buy the Renard diamond mine in northern Quebec and its associated infrastructure for $52 million. Winsome says the proposed deal offers an opportunity to minimize the impact of the development of its Adina lithium project in Quebec. The agreement ... Read More »
Be the first to comment!Lightspeed Commerce cutting 280 jobs as it focuses on profitable growth
By The Canadian Press on April 3rd, 2024
MONTREAL – Lightspeed Commerce Inc. says it is cutting about 280 jobs. The Montreal-based technology company says the move represents about 10 per cent of its head count-related operating expenditures. In addition, Lightspeed says it has undertaken several other cost reduction initiatives in facilities and operations. It says it expects that the majority of the ... Read More »
Be the first to comment!Inflation has slid again in Europe. What that means for interest rates
By David Mchugh, The Associated Press on April 3rd, 2024
FRANKFURT, Germany (AP) – The inflation that has squeezed European shoppers fell more than expected in March to 2.4%, as cost spikes in the grocery aisle eased and overall price rises headed down in the two biggest economies, Germany and France. The annual figure for the 20 countries that use the euro currency came in ... Read More »
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