Business
Enbridge makes progress on utility purchases; raises earnings forecast
By Amanda Stephenson, The Canadian Press on August 2nd, 2024
CALGARY – Enbridge Inc. has raised its earnings forecast for the year in light of the successful completion of two previously announced purchases of U.S. gas utilities. The Calgary-based energy infrastructure company said Friday it now expects adjusted earnings for 2024 of between $17.7 billion and $18.3 billion, up from a previous forecast of $16.6 ... Read More »
Be the first to comment!Weak US hiring slams global markets as unemployment climbs to 4.3%; Dow plunges
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 »
Be the first to comment!July auto sales bounce back after software outage: DesRosiers
By The Canadian Press on August 2nd, 2024
TORONTO – DesRosiers Automotive Consultants says July sales bounced back after a flat performance a month earlier when dealerships were dealing with a major software outage. The consultancy estimates light vehicle sales in July were up 11 per cent from 2023 levels. The agency adds a year-over-year jump in July sales was expected as July ... Read More »
Be the first to comment!Weak US hiring slams global markets 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 »
Be the first to comment!‘Ontario’s moment:’ Minister says Canada building blueprint for nuclear energy future
By The Canadian Press on August 2nd, 2024
WASHINGTON – Ontario is selling itself as the nuclear North Star to guide the direction of American power as the United States looks to de-carbonize amid ever-increasing demand for energy. “It really underscores both Canada and the U.S.’s national and economic interests – that we work together to harness this capability to produce clean energy,” ... Read More »
Be the first to comment!S&P/TSX composite plunges in late-morning trading Friday, U.S. markets nosedive
By The Canadian Press on August 2nd, 2024
TORONTO – Canada’s main stock index sank Friday morning as major indices spanning energy, technology and industrials all tumbled. The S&P/TSX composite index was down 500.57 points at 22,222.64. In New York, the Dow Jones industrial average was down 779.97 points at 39,568.00. The S&P 500 index was down 124.13 points at 5,322.55, while the ... Read More »
Be the first to comment!Canada finishes space launch negotiations with the United States
By The Canadian Press on August 2nd, 2024
OTTAWA – Canada is a step closer to the final frontier after completing negotiations with the United States on an agreement with major implications for domestic space launches. The agreement, which is yet to be signed, will establish the legal and technical safeguards needed to use U.S. space launch technology, expertise and data for launches ... Read More »
Be the first to comment!Vancouver’s July home sales slid 5% from last year, listings up 20%
By The Canadian Press on August 2nd, 2024
VANCOUVER – Greater Vancouver Realtors says last month’s home sales in the region dropped five per cent from a year ago, even as the number of new listings jumped 20 per cent. The real estate body says sales in the market totalled 2,333 last month, while new listings reached 5,597. The composite benchmark price for ... Read More »
Be the first to comment!Telus Corp. reports Q2 net income up from year ago
By The Canadian Press on August 2nd, 2024
VANCOUVER – Telus Corp. says its net income attributable to common shares came in at $228 million in its second quarter, 14 per cent higher compared with the same time last year. The telecommunications company says earnings per diluted share for the quarter ended June 30 was 15 cents compared with 14 cents a year ... Read More »
Be the first to comment!Stock market today: Weak US jobs data pummels markets as a global sell-off whips back to Wall Street
By Stan Choe, The Associated Press on August 2nd, 2024
NEW YORK (AP) – U.S. stocks are tumbling Friday on worries about whether the U.S. economy’s growth can hold up until the Federal Reserve cuts interest rates, as a sell-off for stocks whips all the way around the world back to Wall Street. The S&P 500 was sinking by 2.4% in morning trading, potentially on ... Read More »
Be the first to comment!Alberta renewable energy pause has left legacy of cancelled development: study
By Bob Weber, The Canadian Press on August 2nd, 2024
EDMONTON – Alberta’s seven-month moratorium on renewable power approvals has left a legacy of dozens of cancelled projects and legal uncertainty, says an analysis done on the one-year anniversary of the move. The clean energy think tank The Pembina Institute says in a report released Friday that 53 wind and solar projects were abandoned after ... Read More »
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