Business
Stock market today: Worries about the economy hit Wall Street, and the Dow drops nearly 500 points
By Stan Choe, The Associated Press on August 1st, 2024
NEW YORK (AP) – Just a day after rallying on hopes that the Federal Reserve is about to cut interest rates, U.S. stocks tumbled Thursday after weak data raised worries the Fed may have missed its window to do so before undercutting the economy’s growth. The S&P 500 sank 1.4% after a report showed U.S. ... Read More »
Be the first to comment!Open Text Corp. earns US$248.2 million in fourth quarter
By The Canadian Press on August 1st, 2024
WATERLOO, ONT. – Open Text Corp. says it earned US$248.2 million in its fourth quarter, up from a loss of US$48.7 million a year earlier. The Waterloo, Ont.-based company says revenues for the quarter totalled US$1.4 billion, down from US$1.5 billion during the same quarter last year. Diluted earnings per share were 91 cents US, ... Read More »
1 responseCalgary home sales decline 10% in July from last year, prices rise: board
By The Canadian Press on August 1st, 2024
CALGARY – The Calgary Real Estate Board says July home sales dropped 10 per cent year-over-year as 2,380 properties were sold. The board says the benchmark price across all home types was $606,700 for July, similar to last month and nearly eight per cent higher than last year. Ann-Marie Lurie, chief economist at CREB, says ... Read More »
Be the first to comment!Quebec labour tribunal orders Amazon to stop interfering with union affairs
By The Canadian Press on August 1st, 2024
MONTREAL – Quebec’s labour tribunal has directed Amazon to stop interfering in union affairs, and to pay the union a total of $30,000 in moral and punitive damages. The Administrative Labour Tribunal also directed Amazon to refrain from making statements or publishing messages that aim to criticize the unionization campaign or to question the usefulness ... Read More »
1 responseS&P/TSX composite drops almost 400 points Thursday, U.S. markets also fall
By The Canadian Press on August 1st, 2024
TORONTO – Canada’s main stock index more than wiped out its gains from the day before on Thursday, declining 1.7 per cent with most major sectors down,while U.S. markets also fell. The S&P/TSX composite index closed down 387.60 points at 22,723.21. In New York, the Dow Jones industrial average was down 494.82 points at 40,347.97. ... Read More »
Be the first to comment!First Nation calls for removal of mining firm from managing Yukon disaster site
By The Canadian Press on August 1st, 2024
WHITEHORSE – The Na-Cho Nyak Dun First Nation in Yukon says the company that owns the gold mine where there was a massive ore slide and cyanide spill should be removed from managing the cleanup. The nation said in a statement that the Eagle Gold mine’s owner, Victoria Gold Corp., has failed to follow government ... Read More »
Be the first to comment!Fuel retailer Parkland Corp. lowers 2024 earnings forecast as consumer demand falls
By Amanda Stephenson, The Canadian Press on August 1st, 2024
CALGARY – Fuel retailer and convenience store operator Parkland Corp. lowered its earnings forecast for the year Thursday due to what it said are” ongoing weaknesses” in consumer demand that could continue through the end of 2024. The Calgary-headquartered company revised its guidance for adjusted earnings before interest, taxes, depreciation and amortization for the year ... Read More »
Be the first to comment!Off-site water tests show uptick in cyanide in water downstream from Yukon mine slide
By The Canadian Press on August 1st, 2024
WHITEHORSE – Yukon government officials say some water samples taken downstream from the site of the Eagle Gold mine show cyanide levels that “significantly exceed” guidelines for aquatic life. Brendan Mulligan, a senior scientist with the Yukon’s Department of Environment, says there’s been a “pattern of increasing cyanide levels” in water samples taken close to ... Read More »
Be the first to comment!CNRL curtailing production from new natural gas wells as low prices persist
By Amanda Stephenson, The Canadian Press on August 1st, 2024
CALGARY – Canada’s largest oil and gas producer is postponing the start of production from some of its planned new natural gas wells due to persistent low prices. Canadian Natural Resources Ltd. said Thursday about 20 of its remaining planned 2024 natural gas wells will be drilled this year, but the company will curtail production ... Read More »
Be the first to comment!Toronto raises fines for more than 100 parking violations to reduce congestion
By The Canadian Press on August 1st, 2024
TORONTO – Fines for more than 100 parking offences in Toronto are increasing today, an initiative the city says is aimed at reducing congestion and promoting safer roads. The city says it raised the fines for 123 offences to help curb illegal parking, stopping and standing. It says increasing parking fines can reduce congestion by ... Read More »
Be the first to comment!Ten people arrested, more than 100 charges laid in SIM swap scam: Toronto police
By The Canadian Press on August 1st, 2024
Toronto police say they have arrested 10 people and laid more than 100 charges in a wide-reaching SIM swap scam. Investigators say more than 1,500 cellular accounts throughout Canada were compromised, resulting in more than $1 million in combined losses to victims, telecom companies and financial institutions. Det. David Coffey from the Toronto police Financial ... Read More »
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