Business
Bank of England raises UK interest rates to highest level since 2008
By Pan Pylas, The Associated Press on May 11th, 2023
LONDON (AP) – The Bank of England has raised interest rates to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. The decision on Thursday by the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5% ... Read More »
Be the first to comment!Canadian Tire reports first-quarter profit and revenue down from year ago
By The Canadian Press on May 11th, 2023
TORONTO – Canadian Tire Corp. Ltd. says its first-quarter profit fell compared with a year ago as it faced unseasonably mild winter weather, a slow start to spring in several regions of Canada and a fire at a key distribution centre in Ontario. The retailer reported net income attributable to shareholders of $7.8 million or ... Read More »
Be the first to comment!Shooting at Mercedes factory in Germany leaves 2 dead
By The Associated Press on May 11th, 2023
BERLIN (AP) – A man opened fire at a Mercedes-Benz factory in southwestern Germany on Thursday, leaving two people dead, authorities the company said. The shooting occurred in Sindelfingen, a city near Stuttgart. The suspect, a 53-year-old man, was taken into custody, a spokesman for the Stuttgart prosecutor’s office said. Police received the first emergency ... Read More »
Be the first to comment!Shooting at Mercedes factory in Germany leaves 1 dead, 1 wounded
By The Associated Press on May 11th, 2023
BERLIN (AP) – A man opened fire at a Mercedes-Benz factory in southwestern Germany on Thursday, leaving one person dead and another seriously wounded, authorities said. The shooting occurred in Sindelfingen, a city near Stuttgart. The suspect, a 53-year-old man, was taken into custody, a spokesman for the Stuttgart prosecutor’s office said. Police received the ... Read More »
Be the first to comment!Long-haul carrier Emirates sees highest-ever profit in 2022 of $2.9B after pandemic grounded flights
By Jon Gambrell, The Associated Press on May 11th, 2023
DUBAI, United Arab Emirates (AP) – Long-haul carrier Emirates saw its most-profit year ever in 2022, earning $2.9 billion after bouncing back from the coronavirus pandemic shutting down global aviation, the airline announced Thursday. The carrier’s revival comes as Dubai, which owns the airline, has seen property prices skyrocket and people flood into the city-state ... Read More »
Be the first to comment!China’s ban on Canadian beef still in place year-and-a-half later; industry in dark
By Amanda Stephenson, The Canadian Press on May 11th, 2023
CALGARY – A Chinese ban on Canadian beef that industry officials expected would be short-lived remains in place 17 months later, and industry representatives say they remain in the dark about the reasons. China has been blocking beef shipments from Canadian processing plants ever since an atypical case of BSE, or mad cow disease, was ... Read More »
Be the first to comment!Are Canada’s green corporate subsidies a new race to the bottom or a path to the top?
By Nojoud Al Mallees, The Canadian Press on May 11th, 2023
OTTAWA – The federal Liberals have made it clear that Canada’s road to a greener economy will be paved with billions of dollars in corporate subsidies. Proponents say these may be necessary for Canada to attract investment, especially in competition with the United States – but others are expressing doubts that the hefty handouts will ... Read More »
Be the first to comment!RioCan sees net income slip in Q1 as fair value on investment properties decreases
By The Canadian Press on May 10th, 2023
TORONTO – RioCan Real Estate Investment Trust says net income for the first quarter was $118 million, down from $160 million a year earlier. The Toronto-based company says same property net operating income grew by 3.4 per cent, driven in part by increases in rent and occupancy. RioCan says the decrease in net income was ... Read More »
Be the first to comment!Nutrien sees earnings slump in Q1, but expects demand to rise later in 2023
By The Canadian Press on May 10th, 2023
SASKATOON – Nutrien Ltd. says net earnings for the third quarter were US$576 million, down 58 per cent from US$1.4 billion a year earlier. The Saskatoon-based company, which reports in U.S. dollars, says sales for the quarter ended March 31 were US$6.1 billion, down 20 per cent from US$7.7 billion a year earlier. Diluted net ... Read More »
Be the first to comment!Manulife reports net income of $1.4B in first results under new standards
By The Canadian Press on May 10th, 2023
TORONTO – Manulife Financial Corp. says it had a net income of $1.4 billion attributed to shareholders in the first quarter in its first results under new accounting standards. It says profits were up about $100 million from its transitional net income last year, which reflects what last year’s results would have been under the ... Read More »
Be the first to comment!WSP Global says earnings, revenue rose in first quarter of 2023
By The Canadian Press on May 10th, 2023
MONTREAL – WSP Global Inc. says its net earnings attributable to shareholders for the first quarter were $112.5 million, up 18.4 per cent from $95.0 million a year earlier. The Montreal-based company says revenues for the quarter ended April 1 were $3.5 billion, up 28.7 per cent from $2.7 billion the same quarter last year. ... Read More »
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