Business
Enbridge posts $1.85-billion profit, makes progress on acquisitions in Q2
By The Canadian Press on August 2nd, 2024
CALGARY – Enbridge Inc. saw its second-quarter profit hit $1.85 billion, where it roughly also sat a year ago. The Calgary-based pipeline company says its earnings for the period ended June 30 amounted to 86 cents per share compared with 91 cents a year prior. The results beat analysts’ expectations of 63 cents per share, ... Read More »
Be the first to comment!Stock market today: A global sell-off for stocks whips back to Wall Street after weak jobs data
By Stan Choe, The Associated Press on August 2nd, 2024
NEW YORK (AP) – A sell-off for stocks has made it all the way around the world, and Wall Street is tumbling again Friday on worries about whether the U.S. economy’s growth can hold up until the Federal Reserve cuts interest rates. The S&P 500 was 1.6% lower in early trading and on track for ... Read More »
Be the first to comment!Imperial Oil reports $1.13 billion in net income, up from $675 million a year ago
By The Canadian Press on August 2nd, 2024
CALGARY – Imperial Oil Ltd. saw a significant spike in net income in its second quarter, which reached $1.13 billion. The Calgary-based company says those results compared with a net income of $675 million a year prior. The increase seen in the period ended June 30 amounted to earnings of $2.11 per share on a ... Read More »
Be the first to comment!Stock market today: Wall Street tumbles on worries about U.S. economy after weak jobs report
By Elaine Kurtenbach And Matt Ott, The Associated Press on August 2nd, 2024
BANGKOK – Wall Street pointed sharply lower early Friday morning after a worse-than-expected government employment report spooked investors who were already panicked over signs of weakness in the U.S. economy. Futures for the S&P 500 were down 1.4% after the Labor Department reported that U.S. employers added a meager 114,000 jobs in July. Futures for ... Read More »
Be the first to comment!US added just 114,000 jobs in July, unemployment rate hits 4.3% as interest rates take economic toll
By Paul Wiseman, The Associated Press on August 2nd, 2024
WASHINGTON (AP) – U.S. hiring decelerated sharply last month in the face of high interest rates as employers added a weak 114,000 jobs. Friday’s Labor Department report showed a drop from the 179,000 jobs created in June. Forecasters had expected to see 175,000 jobs in July. The unemployment rate rose to 4.3%. The economy has ... Read More »
Be the first to comment!Auto parts maker Magna International sees Q2 net income hit US$328 million
By The Canadian Press on August 2nd, 2024
AURORA, ONTARIO – Magna International Inc. says its second-quarter profit tumbled from a year ago to US$328 million. The Aurora, Ont.-based auto parts manufacturer, which keeps its books in U.S. dollars, says those earnings compared with US$354 million a year earlier. The results for the period ended June 30 amounted to US$1.09 per diluted share ... Read More »
Be the first to comment!Markets tumble, led by 5.8% drop in Tokyo following a tech-driven retreat on Wall Street
By Elaine Kurtenbach, The Associated Press on August 2nd, 2024
BANGKOK (AP) – World shares tumbled Friday, with Japan’s Nikkei 225 index slumping 5.8% as investors panicked over signs of weakness in the U.S. economy. The declines followed a retreat on Wall Street after weak data raised worries the Federal Reserve may have missed its window to cut interest rates before it undercut economic growth. ... Read More »
Be the first to comment!Asian shares tumble, led by 5.1% drop in Tokyo following a tech-driven retreat on Wall St
By Elaine Kurtenbach, The Associated Press on August 1st, 2024
BANGKOK (AP) – Shares tumbled Friday in Asia, with Japan’s Nikkei 225 index slumping 5.1%. The declines followed a retreat on Wall Street after weak data on the U.S. economy raised worries the Federal Reserve may have missed its window to cut interest rates, which its chairman Jerome Powell has said could come in September, ... Read More »
Be the first to comment!Asian shares tumble, led by 4.5% drop in Tokyo following a tech-driven retreat on Wall St
By The Associated Press on August 1st, 2024
BANGKOK (AP) – Shares fell Friday in Asia, with Japan’s Nikkei 225 index slumping nearly 4.7% before regaining some ground. The declines followed a retreat in U.S. stocks after weak data raised worries the Federal Reserve may have missed its window to cut interest rates before undercutting the economy’s growth. The Nikkei 225 in Tokyo ... Read More »
Be the first to comment!U.S. employers likely added 175,000 jobs in July as labor market cools gradually
By Paul Wiseman, The Associated Press on August 1st, 2024
WASHINGTON (AP) – The U.S. job market isn’t sizzling hot anymore. Companies aren’t hiring the way they were a year or two ago. But they aren’t slashing jobs either, and American workers continue to enjoy an unusual degree of job security. This is just what the inflation fighters at the Federal Reserve want to see: ... Read More »
Be the first to comment!Google to charge new fee on ads in response to Canada’s digital services tax
By The Canadian Press on August 1st, 2024
OTTAWA – Google says it will pass on the cost of the Liberal government’s digital services tax to advertisers. The company says it will implement a 2.5 per cent surcharge for ads displayed in Canada, starting in October. A Google spokesperson says the fee is meant to cover part of the cost of complying with ... Read More »
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