Business
S&P/TSX composite plunges Friday as U.S. markets nosedive over jobs, tech woes
By Christopher Reynolds, The Canadian Press on August 2nd, 2024
Shockwaves on Wall Street unleashed by jobs data out of the U.S. sent strong tremors north of the border Friday, as Canada’s main stock index took a tumble over fears of a weakening U.S. economy and tech sector. The S&P/TSX composite index plunged 495.58 points to close at 22,227.63. In New York, the Dow Jones ... Read More »
Be the first to comment!Telus contends with tough competition, Telus International challenges in Q2
By Ritika Dubey, The Canadian Press on August 2nd, 2024
Telus Corp. posted an increase in net new customers in its second quarter, but fierce competition among cell service providers took a toll on its average revenue per user. The telecommunications company reported average revenue per mobile phone user of $58.49 in the second quarter, down 3.4 per cent or $2.07 compared with the same ... Read More »
Be the first to comment!US hiring fell sharply in July, an unexpected setback for the economy stoking recession fears
By Paul Wiseman And Christopher Rugaber, The Associated Press on August 2nd, 2024
WASHINGTON (AP) – The U.S. economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month with raised interest rates taking a toll on businesses and households. Employers added just 114,000 jobs in July – 35% fewer than expected – and unemployment, now at 4.3%, ... Read More »
Be the first to comment!Weak US July hiring slams global markets, Wall Street stocks tumble as unemployment climbs to 4.3%
By Paul Wiseman And Christopher Rugaber, The Associated Press on August 2nd, 2024
WASHINGTON (AP) – The U.S. economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month with raised interest rates taking a toll on businesses and households. Employers added just 114,000 jobs in July – 35% fewer than expected – and unemployment, now at 4.3%, ... Read More »
Be the first to comment!S&P/TSX composite plunges Friday as U.S. markets nosedive
By The Canadian Press on August 2nd, 2024
TORONTO – Canada’s main stock index sank on Friday as major indices spanning energy, technology and finance all tumbled. The S&P/TSX composite index was down 495.58 points at 22,227.63. In New York, the Dow Jones industrial average was down 610.71 points at 39,737.26. The S&P 500 index was down 100.12 points at 5,346.56, while the ... Read More »
Be the first to comment!Stock market today: Dow drops 600 on weak jobs data as a global sell-off whips back to Wall Street
By Stan Choe, The Associated Press on August 2nd, 2024
NEW YORK (AP) – Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. The S&P 500 fell 1.8% Friday for its first back-to-back loss of at least 1% since April. The Dow Jones Industrial Average lost 1.5%, and the Nasdaq composite fell ... Read More »
Be the first to comment!Imperial Oil remains confident in renewable diesel project; construction progresses
By Amanda Stephenson, The Canadian Press on August 2nd, 2024
CALGARY – Imperial Oil Ltd. provided an update on what will be Canada’s largest renewable diesel facility, saying construction of the complex near Edmonton is going well and should be completed sometime next spring. The $720-million project under way at Imperial’s Strathcona refinery is expected to have a capacity of more than one billion litres ... Read More »
Be the first to comment!Weak US hiring in July slams global markets, Dow plunges 900 points as unemployment climbs to 4.3%
By Paul Wiseman And Christopher Rugaber, The Associated Press on August 2nd, 2024
WASHINGTON (AP) – The U.S. economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month with raised interest rates taking a toll on businesses and households. Employers added just 114,000 jobs in July ““ 35% fewer than expected ““ and unemployment, now at 4.3%, ... Read More »
Be the first to comment!Stock market today: Dow drops 800 on weak jobs data as a global sell-off whips back to Wall Street
By Stan Choe, The Associated Press on August 2nd, 2024
NEW YORK (AP) – Stocks are tumbling Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. The S&P 500 was sinking by 2.2% in afternoon trading, potentially on pace for its worst day since 2022, and on track for its first back-to-back loss of ... Read More »
Be the first to comment!Alberta court certifies class action alleging Uber workers are employees
By The Canadian Press on August 2nd, 2024
CALGARY – A pair of law firms say an Alberta court has certified a class action alleging Uber Technologies Inc. has so much control over drivers and couriers in the province that it constitutes employment. McKenzie Lake Lawyers LLP and Duboff Edwards Schachter Law Corp. say the ride-hailing giant has misclassified the employment status of ... Read More »
Be the first to comment!Weak US hiring in July slams global markets, Dow plunges, as unemployment climbs to 4.3%
By Paul Wiseman And Christopher Rugaber, The Associated Press on August 2nd, 2024
WASHINGTON (AP) – The U.S. economy suffered an unexpected setback in July as hiring fell sharply and the unemployment rate rose for the fourth straight month with sustained higher interest rates taking a toll on businesses and consumers. Friday’s report from the Labor Department showed that employers added just 114,000 jobs in July ““ 35% ... Read More »
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