March 4th, 2024

Business

TSX gains more than 100 points, U.S. stock markets rise to new records

By Rosa Saba, The Canadian Press on February 29th, 2024

TORONTO – Canada’s main stock index gained more than 100 points Thursday, boosted by gains in energy stocks, while U.S. markets also rose. The gains south of the border closed out February with more all-time highs for U.S. markets, with both the S&P 500 and the Nasdaq composite notching new records. In New York, the ... Read More »

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S&P/TSX composite gains more than 100 points, U.S. stock markets also rise

By The Canadian Press on February 29th, 2024

TORONTO – Canada’s main stock index gained more than 100 points Thursday, boosted by gains in energy stocks, while U.S. markets also rose. The S&P/TSX composite index closed up 119.84 points at 21,363.61. In New York, the Dow Jones industrial average was up 47.37 points at 38,996.39. The S&P 500 index was up 26.51 points ... Read More »

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Stock market today: S&P 500 and Nasdaq climb to record highs, led by more gains in tech companies

By Stan Choe, The Associated Press on February 29th, 2024

NEW YORK (AP) – Wall Street closed out its fourth winning month in a row with more record highs. The S&P 500 rose 0.5% Thursday, beating the all-time high it set last week. The Nasdaq composite climbed 0.9%, besting its record set in 2021. The Dow Jones Industrial Average edged up 0.1%. Yields eased in ... Read More »

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CIBC, TD cap round of earnings that largely beat subdued expectations

By Ian Bickis, The Canadian Press on February 29th, 2024

TORONTO – CIBC and TD Bank wrapped a round of quarterly bank results Thursday that, like the Canadian economy itself, largely beat what were fairly low expectations. Analysts had been expecting lower profits as banks grapple with slower mortgage growth, less business activity and the financial pressure of putting money aside for potentially bad loans. ... Read More »

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P.E.I. budget projects $85-million deficit, increase in health-care spending

By The Canadian Press on February 29th, 2024

CHARLOTTETOWN – Prince Edward Island’s Progressive Conservative government today tabled a $3.2-billion budget with a projected deficit of $85 million. Finance Minister Jill Burridge’s operating budget includes $140 million in new spending, with an emphasis on health and housing, and projects a $152-million increase in revenue. Last year, the government budgeted a total of $3.09 ... Read More »

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Lion Electric lays off 100 more workers after $100 million earnings loss

By The Canadian Press on February 29th, 2024

SAINT-JÉRÔME, Que. – The Lion Electric Co. says it is laying off 100 more employees or about seven per cent of its total workforce in a move to reduce costs. The move affects workers – mainly on the nightshift – at its Saint-Jérôme factory in Quebec’s Laurentian region. The maker of electric buses and trucks ... Read More »

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Tribunal wraps first ‘junk fee’ case over online fees for Cineplex movie tickets

By Anja Karadeglija, The Canadian Press on February 29th, 2024

OTTAWA – The Competition Tribunal heard a second day of arguments Thursday in a case that could decide whether Cineplex can keep charging customers an extra fee for buying movie tickets online. It’s the first time the tribunal is hearing a case involving “drip pricing” since the Competition Act explicitly recognized it as a harmful ... Read More »

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Income tax indexing highlights Nova Scotia budget as inflation complaints rise

By Michael Tutton and Keith Doucette, The Canadian Press on February 29th, 2024

HALIFAX – Nova Scotia has tabled a $16.5-billion budget that indexes provincial income tax rates to inflation – a move the government said Thursday will provide relief from the province’s rising cost of living. “Cost of living has become top of mind for people as we experience some of the highest increases in inflation in ... Read More »

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Tribunal to wrap first ‘junk fee’ case over online fees for Cineplex movie tickets

By Anja Karadeglija, The Canadian Press on February 29th, 2024

OTTAWA – The Competition Tribunal is hearing a second day of arguments Thursday in a case that could decide whether Cineplex can keep charging customers an extra fee for buying movie tickets online. It’s the first time the tribunal is hearing a case involving “drip pricing” since the Competition Act explicitly recognized it as a ... Read More »

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Canadian Natural Resources hits record oil production amid rising U.S. demand

By The Canadian Press on February 29th, 2024

CALGARY – Canadian Natural Resources Ltd. drew on its abundant reserves to set a slew of production records last quarter, boosting its bottom line. The Calgary-based company churned out 1.42 million barrels of oil equivalent per day in the fourth quarter, up nearly 10 per cent year over year to break its all-time quarterly production ... Read More »

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