Business
Don’t mistake ‘luck for emergency preparedness’ in B.C. ship fire: TSB chair says
By Ashley Joannou, The Canadian Press on July 31st, 2024
VANCOUVER – The chair of Canada’s Transportation Safety Board says it was luck rather than preparedness that helped in putting out a fire on a cargo ship off Vancouver Island’s coast in October 2021. Kathy Fox said more urgent and effective action is needed to address marine emergencies in Canadian waters after the MV Zim ... Read More »
Be the first to comment!NFI Group posts first quarterly profit in three years as revenue rises
By The Canadian Press on July 31st, 2024
WINNIPEG – NFI Group Inc. says it earned US$3 million in its second quarter, up from a net loss of US$48 million a year earlier. The Winnipeg-based company says its revenue for the quarter totalled US$851 million, up from US$660 million last year. Earnings per share were two cents US, compared with a loss of ... Read More »
Be the first to comment!Western Forest Products narrows loss in second quarter to $5.7 million
By The Canadian Press on July 31st, 2024
VANCOUVER – Western Forest Products Inc. says it lost $5.7 million during the second quarter, compared with a loss of $20.7 million a year earlier. The Vancouver-based company says revenues were $309.5 million, rising from $276 million during the same quarter last year. Diluted loss per share was one cent, compared with a loss of ... Read More »
Be the first to comment!Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours
By The Associated Press on July 31st, 2024
SAN FRANCISCO (AP) – Facebook and Instagram parent company Meta Platforms Inc. reported stronger-than-expected results for the second quarter on Wednesday, sending shares sharply higher in after-hours trading. The Menlo Park, California-based company earned $13.47 billion, or $5.16 per share, in the April-June period. That’s up 73% from $7.8 billion, or $2.98 per share, in ... Read More »
Be the first to comment!S&P/TSX up almost 300 points as oil prices rise; Wall St. rallies and Fed holds rates
By Rosa Saba, The Canadian Press on July 31st, 2024
TORONTO – Gains in energy stocks and base metals led Canada’s main stock index up almost 300 points in a broad-based rally Wednesday, while major tech names led a rally on U.S. stock markets, and the U.S. Federal Reserve held its key interest rate steady. The S&P/TSX composite index closed up 286.14 points, or 1.3 ... Read More »
Be the first to comment!S&P/TSX composite up almost 300 points as oil prices rise, U.S. markets rally
By The Canadian Press on July 31st, 2024
TORONTO – Gains in energy stocks and base metals led Canada’s main stock index up almost 300 points in a broad-based rally Wednesday, while major tech names led a rally on U.S. stock markets, and the U.S. Federal Reserve held its key interest rate steady. The S&P/TSX composite index closed up 286.14 points at 23,110.81. ... Read More »
Be the first to comment!Coast Guard to end staffing at two B.C. lighthouses, following safety concerns
By The Canadian Press on July 31st, 2024
VICTORIA – Safety concerns have prompted the Canadian Coast Guard to make what is says is the “difficult decision” to end staffing at two lighthouses along British Columbia’s coast. Fisheries and Oceans Canada says “aids to navigation” will continue operating at both the Carmanah Point and Pachena Point light stations located along the Vancouver Island ... Read More »
Be the first to comment!Stock market today: S&P 500 jumps to best day in 5 months as tech rebounds, rate cuts come into view
By Stan Choe, The Associated Press on July 31st, 2024
NEW YORK (AP) – Big technology stocks drove a rally for U.S. indexes, as Wall Street grew even more convinced long-sought cuts to interest rates will be arriving soon. The S&P 500 jumped 1.6% Wednesday for its best day in five months. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite soared 2.6%. ... Read More »
Be the first to comment!New money to expand cellular service in parts of rural N.S. with spotty coverage
By The Canadian Press on July 31st, 2024
GREENFIELD, N.S. – Nova Scotia has announced its next steps to improve the sporadic cellular phone coverage in rural areas across the province, committing Wednesday to spend another $18.6 million to build 27 new telecommunication towers. The government has recently been under pressure to accelerate its plans to increase coverage, after some rural residents didn’t ... Read More »
Be the first to comment!Economy continues to grow at modest pace as forecasters brace for more rate cuts
By Nojoud Al Mallees, The Canadian Press on July 31st, 2024
OTTAWA – The Canadian economy continued to keep its head just above water in May, growing 0.2 per cent, led by expansions in manufacturing and the public sector. Statistics Canada’s gross domestic product report on Wednesday said retail and wholesale trade as well as the oil and gas sector weighed on growth. However, it highlighted ... Read More »
Be the first to comment!US stands by decision that 50 million air bag inflators are dangerous, steps closer to huge recall
By The Associated Press on July 31st, 2024
DETROIT (AP) – U.S. auto safety regulators say they stand by a conclusion that more than 50 million air bag inflators are dangerous and should not be in use, taking another step toward a massive recall. The decion Wednesday by the National Highway Traffic Safety Administration involves inflators made by ARC Automotive Inc. in Tennessee ... Read More »
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