Business
Best Buy reports another drop in quarterly sales amid cautious buying but business is stabilizing
By Anne D'innocenzio, The Associated Press on August 29th, 2024
NEW YORK (AP) – Best Buy, the nation’s largest consumer electronics chain, on Thursday reported another quarterly drop in sales due to Americans pulling back on purchases of appliances and consumer-electronics gadgets to focus on essentials. But the latest period showed Best Buy’s business stabilizing, and its results topped Wall Street expectations. The retailer based ... Read More »
Be the first to comment!Confused about all the deductions on your paycheque? Here’s what they mean
By Sammy Hudes, The Canadian Press on August 29th, 2024
You’re a few weeks into your new job and payday has arrived. But reading your first paystub, it’s a little unclear what all of these deductions mean. After all, the exact amount of your biweekly direct deposit never came up in the interview process. Financial planning experts say understanding how deductions are calculated on a ... Read More »
Be the first to comment!US economic growth for last quarter is revised up to a solid 3% annual rate
By Paul Wiseman, The Associated Press on August 29th, 2024
WASHINGTON (AP) – The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The Commerce Department had previously estimated that the nation’s gross domestic product – the total output of goods and services – ... Read More »
Be the first to comment!CIBC reports $1.8B Q3 profit, provision for credit losses down from year ago
By The Canadian Press on August 29th, 2024
TORONTO – Canadian Imperial Bank of Commerce reported its third-quarter profit rose compared with a year ago as it set aside less money for bad loans. CIBC says its net income totalled $1.80 billion or $1.82 per diluted share in for the quarter ended July 31, up from $1.43 billion or $1.47 per diluted share ... Read More »
Be the first to comment!Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surges
By Sarah Parvini, The Associated Press on August 29th, 2024
LOS ANGELES (AP) – Nvidia may have exceeded Wall Street estimates as its profit jumped – buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom – but investors seemed less than impressed. The company reported a net income of to $16.6 billion. Adjusted for one-time ... Read More »
Be the first to comment!A Hong Kong court convicts 2 journalists in a landmark sedition case
By Kanis Leung, The Associated Press on August 29th, 2024
HONG KONG (AP) – A Hong Kong court convicted two former editors of a shuttered news outlet on Thursday, in a sedition case that is widely seen as a barometer for the future of media freedom in the city once hailed as a bastion of free press in Asia. Stand News former editor-in-chief Chung Pui-kuen ... Read More »
Be the first to comment!Brazil top court threatens to suspend X operations in latest twist of ongoing feud
By David Biller, The Associated Press on August 28th, 2024
RIO DE JANEIRO (AP) – A Brazilian Supreme Court justice on Wednesday threatened to shut down the local operations of X, formerly Twitter, unless its billionaire owner Elon Musk names an in-country legal representative within 24 hours. The order from Justice Alexandre de Moraes is the latest development in an ongoing feud with Musk’s platform. ... Read More »
Be the first to comment!Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surge
By Sarah Parvini, The Associated Press on August 28th, 2024
LOS ANGELES (AP) – Nvidia may have exceeded Wall Street estimates as its profit jumped – buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom – but investors seemed less than impressed. The company reported a net income of to $16.6 billion. Adjusted for one-time ... Read More »
Be the first to comment!Rogers deal to drop linear channels in acquiring Discovery Science, OWN, Animal Planet content
By Alex Nino Gheciu, The Canadian Press on August 28th, 2024
TORONTO – Content from specialty channels bound for Rogers including Cooking, OWN, Discovery Science, Motor Trend and Animal Planet will be streamed and on demand when the brands switch to the media giant next year. Rogers Communications Inc. says these newly acquired lifestyle brands will disappear as a linear option Jan. 1, 2025 but their ... Read More »
Be the first to comment!Calgarians do better on second day of water rationing as pipe repairs continue
By The Canadian Press on August 28th, 2024
CALGARY – City officials say Calgarians are getting better at cutting down on their water use, but need to do more to stop the taps from potentially running dry. The city says 497 million litres of water were used on Tuesday. That’s above the 450-million-litre cap the city needs to stay under while a major ... Read More »
Be the first to comment!Nvidia stock stock slips even after earnings top Wall Street estimates and demand for AI chips surge
By Sarah Parvini, The Associated Press on August 28th, 2024
LOS ANGELES (AP) – Nvidia may have exceeded Wall Street estimates as its profit jumped – buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom – but investors seemed less than impressed. The company reported a net income of to $16.6 billion. Adjusted for one-time ... Read More »
Be the first to comment!
