September 18th, 2021

Business

Salaries expected to go up, but real wages of workers could edge down after inflation

By The Canadian Press on September 15th, 2021

TORONTO – Wages are expected to go up in Canada next year, but workers are unlikely to get a real pay raise as inflation risks eroding salary gains, according to a new survey and data released Wednesday. A LifeWorks survey on the salary plans of Canadian employers showed a projected average annual pay increase of ... Read More »

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Gains in energy sector help lift S&P/TSX composite higher, U.S. stock markets mixed

By The Canadian Press on September 15th, 2021

TORONTO – Gains in the energy sector as the price of oil climbed higher helped lift Canada’s main stock index in late morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 58.19 points at 20,611.44. In New York, the Dow Jones industrial average was up 96.96 points at 34,674.53. The ... Read More »

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CN drops bid for Kansas City Southern; CP to acquire U.S. railway in US$31B deal

By The Canadian Press on September 15th, 2021

MONTREAL – The battle between rival Canadian railways over Kansas City Southern is over. Canadian Pacific Railway Ltd. said Wednesday it has reached a deal to acquire KCS for approximately US$31 billion, after Canadian National Railway Co. dropped its rival takeover offer for the U.S. railway. The news came after KCS on Sunday ruled the ... Read More »

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August industrial output slows to 0.4% gain after Ida hits

By Martin Crutsinger, The Associated Press on September 15th, 2021

WASHINGTON (AP) – U.S. industrial production slowed to a 0.4% gain in August as shutdowns of petroleum refineries and petrochemical plants caused by Hurricane Ida curbed manufacturing activity. Plant closures long the Gulf Coast as well as lost oil production during last month’s hurricane shaved 0.3 percentage points from output, the Federal Reserve reported Wednesday. ... Read More »

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Sand, Catan, piñatas lead Toy Hall of Fame finalists

By The Associated Press on September 15th, 2021

ROCHESTER, N.Y. (AP) – Cabbage Patch Kids, the rosy-cheeked dolls that left store shelves picked clean during the first big holiday toy craze, are up for a spot in the National Toy Hall of Fame, part of a finalist group announced Wednesday that also includes garden-variety sand and the toy fire engine. Also among finalists ... Read More »

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CREA lowers home sales forecast, but nudges average price higher

By The Canadian Press on September 15th, 2021

OTTAWA – The Canadian Real Estate Association is forecasting the country will wrap the year with fewer home sales than it previously predicted as it says tight supply conditions will continue to push housing costs up. The association is forecasting about 656,300 homes will change hands this year, an almost 19 per cent increase from ... Read More »

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Wages expected to go up, but workers’ spending power could still drop after inflation

By The Canadian Press on September 15th, 2021

TORONTO – A new survey says wages are going up in Canada, with employers projecting an average annual pay increase of 2.5 per cent for next year. When excluding organizations that are planning salary freezes, the poll found average salaries are expected to rise 2.7 per cent in 2022. The LifeWorks survey demonstrates growing confidence ... Read More »

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August industrial output slows to 0.4% gain after Ida strike

By Martin Crutsinger, The Associated Press on September 15th, 2021

WASHINGTONIn (AP) – U.S. industrial production slowed to a 0.4% gain in August as the shutdowns caused by Hurricane Ida curbed manufacturing activity. Closures of petrochemical plants and petroleum refining along the Gulf Coast shaved 0.3 percentage points from output, the Federal Reserve reported Wednesday, which was just half the 0.8% increase recorded in July. ... Read More »

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CN drops bid and ends takeover battle for U.S. railway Kansas City Southern

By The Canadian Press on September 15th, 2021

MONTREAL – Canadian National Railway Co. is dropping its takeover offer for Kansas City Southern, ending its takeover battle for the U.S. railway. The decision comes after KCS on Sunday ruled a rival bid by from Canadian Pacific Railway Ltd. was a superior proposal to its deal with CN. CN was dealt a setback last ... Read More »

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Canadian Press NewsAlert: CN ends takeover fight for Kansas City Southern

By The Canadian Press on September 15th, 2021

MONTREAL – Canadian National Railway Co. says it is dropping its takeover offer for Kansas City Southern. The decision comes after the U.S. railway ruled a rival bid by from Canadian Pacific Railway Ltd. was a superior proposal to its deal with CN. More coming. Companies in this story: (TSX:CNR, TSX:CP)... Read More »

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