Business
Japan’s Nikkei 225 soars 10% and other world markets are mixed after the week’s rollercoaster start
By Elaine Kurtenbach, The Associated Press on August 6th, 2024
BANGKOK (AP) – Japan’s benchmark Nikkei 225 index soared more than 10% on Tuesday, rebounding after a rollercoaster start to the week that sent markets tumbling in Europe and on Wall Street. European markets were mostly lower, with Germany’s DAX down 0.4% at 17,277.27 and the CAC 40 in Paris 0.7% lower, at 7,098.89. In ... Read More »
Be the first to comment!Greater Toronto home sales up in July from last year, listings jump
By The Canadian Press on August 6th, 2024
TORONTO – The Toronto Regional Real Estate Board says home sales in July were up from last year but down from a month earlier, while listings jumped. The board says there were 5,391 homes sold in July in the Greater Toronto Area, a 3.3 per cent rise compared with the 5,220 homes sold in the ... Read More »
Be the first to comment!Is Singapore’s housing model a realistic solution for Canada’s affordability woes?
By Chuck Chiang, The Canadian Press on August 6th, 2024
VANCOUVER – Urban planner Louisa-May Khoo says she got a sense of deja-vu when British Columbia Premier David Eby announced the BC Builds housing program earlier this year. Khoo, a University of British Columbia public scholar, was a veteran of Singapore’s planning and development sector starting in 1996 before arriving in Vancouver in 2018. When ... Read More »
Be the first to comment!Potential China EV tariffs welcomed by GM Canada as BYD looks to enter market
By Ian Bickis, The Canadian Press on August 6th, 2024
The potential of tariffs on Chinese electric vehicle imports is being welcomed by the Canadian head of General Motors as major producer BYD looks to enter the market. “We’re encouraged by the government’s examination of these issues,” said Kristian Aquilina, president of GM Canada. “Because on the basis of strong competition, a fair playing field, ... Read More »
Be the first to comment!Saudi Arabia’s Aramco reports lower half-year profits as economic worries dampen energy prices
By Jon Gambrell, The Associated Press on August 5th, 2024
DUBAI, United Arab Emirates (AP) – Saudi oil giant Aramco reported half-year profits Tuesday of $56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy. Aramco, formally known as the Saudi Arabian Oil Co., said its overall revenue for the half-year was $220.7 billion, up from $218.6 ... Read More »
Be the first to comment!Japan’s share benchmark soars nearly 11% a day after massive sell-offs that shook Wall Street
By Stan Choe, The Associated Press on August 5th, 2024
NEW YORK (AP) – Japan’s benchmark Nikkei 225 index soared nearly 11% early Tuesday, a day after it set markets tumbling in Europe and on Wall Street. The Japanese index advanced more than 3,300 points, not quite making up for the huge loss of more than 4,400 points the day before, when it plunged 12.4% ... Read More »
Be the first to comment!Nuvei to buy Brazil-based Pay2All as Canadian fintech firm expands its reach
By The Canadian Press on August 5th, 2024
MONTREAL – Nuvei Corp. says it has secured a deal to buy Brazilian payments institution Pay2All. The Montreal-based payment technology firm says the agreement would expand its reach in Brazil and the broader Latin American market. Nuvei says in a statement today that the deal will let it provide payment services as an “issuer of ... Read More »
Be the first to comment!Google illegally maintains monopoly over internet search, judge rules
By Matthew Barakat And Michael Liedtke, The Associated Press on August 5th, 2024
WASHINGTON (AP) – A judge on Monday ruled that Google’s ubiquitous search engine has been illegally exploiting its dominance to squash competition and stifle innovation in a seismic decision that could shake up the internet and hobble one of the world’s best-known companies. The highly anticipated decision issued by U.S. District Judge Amit Mehta comes ... Read More »
Be the first to comment!Dow drops 1,000 points, and Japanese stocks suffer worst crash since 1987 as markets quake worldwide
By Stan Choe, The Associated Press on August 5th, 2024
NEW YORK (AP) – A scary Monday that started with a plunge abroad reminiscent of 1987 ‘s crash swept around the world and pummeled Wall Street with more steep losses, as fears worsened about a slowing U.S. economy. The S&P 500 dropped 3% for its worst day in nearly two years. The Dow Jones Industrial ... Read More »
Be the first to comment!Wall Street has its worst day since 2022 as fear of a US economic slowdown deepens; Dow sinks 1,000
By Stan Choe, The Associated Press on August 5th, 2024
NEW YORK (AP) – Wall Street fell the most in nearly two years, continuing a global rout in financial markets, as fear worsens that the U.S. economy is slowing down. The S&P 500 fell 3% Monday. The Dow Jones Industrial Average dropped more than 1,000 points, and the Nasdaq composite slid 3.4%. That followed a ... Read More »
Be the first to comment!Google loses massive antitrust case over its search dominance
By Matthew Barakat And Michael Liedtke, The Associated Press on August 5th, 2024
WASHINGTON (AP) – A judge on Monday ruled that Google’s ubiquitous search engine has been illegally exploiting its dominance to squash competition and stifle innovation in a seismic decision that could shake up the internet and hobble one of the world’s best-known companies. The highly anticipated decision issued by U.S. District Judge Amit Mehta comes ... Read More »
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