Business
RBC cements dominant status as it closes HSBC Canada takeover
By Ian Bickis, The Canadian Press on April 3rd, 2024
TORONTO – Royal Bank of Canada has reinforced its status as Canada’s biggest companyafter successfully navigating its takeover of HSBC Canada, making it an even bigger target for critics. The bank is now worth about $193 billion, some $50 billion ahead of second-place TD Bank, after RBC saw a roughly 24 per cent rebound in ... Read More »
Be the first to comment!BC Hydro wants more clean power to help meet demand, clean energy targets
By The Canadian Press on April 3rd, 2024
VICTORIA – BC Hydro is looking for more clean power to add to its grids as electricity demands are expected to increase by 15 per cent in the next six years. The Ministry of Energy, Mines and Low Carbon Innovation says the Crown power utility has issued its first call in 15 years and is ... Read More »
Be the first to comment!S&P/TSX composite ticks higher Wednesday, U.S. stock markets mixed
By The Canadian Press on April 3rd, 2024
TORONTO – Strength in energy and base metal stocks helped lift Canada’s main stock index on Wednesday, while U.S. stock markets were mixed but held relatively steady after two straight days of losses. The S&P/TSX composite index closed up 37.36 points at 22,112.46. In New York, the Dow Jones industrial average was down 43.10 points ... Read More »
Be the first to comment!Stock market today: Wall Street edges higher following its worst day in weeks
By Stan Choe, The Associated Press on April 3rd, 2024
NEW YORK (AP) – Stocks closed mostly higher, as Wall Street steadied itself following its worst day in weeks. The S&P 500 rose 0.1% Wednesday, clawing back a bit of its loss from the prior day. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite added 0.2%. Treasury yields eased after a report ... Read More »
Be the first to comment!Amid opposition, Northvolt forging ahead to open Quebec battery factory by 2026
By Stéphane Blais, The Canadian Press on April 3rd, 2024
MONTREAL – Swedish manufacturer Northvolt says it’s forging ahead with plans to open an electrial vehicle battery megaplant near Montreal by 2026, despite a tight timeline and opposition from environmental groups. The company’s North American CEO said today that the company still has to get about a dozen different authorizations to complete construction on the ... Read More »
Be the first to comment!BlackBerry CEO sexually harassed senior employee, lawsuit claims
By Tara Deschamps, The Canadian Press on April 3rd, 2024
A former BlackBerry Ltd. employee has filed a lawsuit against the company and its new chief executive John Giamatteo, who she claims sexually harassed her and then retaliated against her after she reported the behaviour. The complainant, a California-based woman of colour who worked for the Waterloo, Ont.-based tech company for more than a decade, ... Read More »
Be the first to comment!RBC agrees to disclose key climate metric on energy funding
By The Canadian Press on April 3rd, 2024
TORONTO – RBC says it plans to disclose a key climate metric that the New York City Comptroller has been pushing it to adopt. Chief executive Dave McKay says in an interview that the bank plans to disclose the ratio of how its clean energy funding compares with its fossil fuel financing in its next ... Read More »
Be the first to comment!WSP Global shares fall after short seller releases critical report
By The Canadian Press on April 3rd, 2024
MONTREAL – Shares of WSP Global Inc. fell in trading Wednesday after a prominent U.S. short-seller took aim at the engineering firm. Spruce Point Capital Management attacked WSPin a 68-page report and argued in a press release that the company “appears to be under greater financial … stress” than its filings suggest. The New York-based ... Read More »
Be the first to comment!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 »
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