Business
BoC can address banking system stress, even as it fights inflation: Macklem
By The Canadian Press on May 4th, 2023
TORONTO – Bank of Canada governor Tiff Macklem says the central bank is ready to step in if stress in the global banking system affects Canada, but emphasized it won’t back off from its inflation fight as it works to bring inflation down to its 2 per cent target. According to prepared remarks Macklem is ... Read More »
Be the first to comment!Jury finds Ed Sheeran didn’t copy Marvin Gaye classic
By Larry Neumeister, The Associated Press on May 4th, 2023
NEW YORK (AP) – A jury concluded Thursday that British singer Ed Sheeran didn’t steal key components of Marvin Gaye’s classic 1970s tune “Let’s Get It On” when he created his hit song “Thinking Out Loud.” The verdict in New York came after a two-week trial that featured a courtroom performance by Sheeran as the ... Read More »
Be the first to comment!Bell Canada CEO touts competition, prices as parent company reports Q1 profit down
By Sammy Hudes, The Canadian Press on May 4th, 2023
Bell Canada president and CEO Mirko Bibic said he’s encouraged by the state of competition in Canada’s telecommunications sector following the closure of rival company Rogers Communications Inc.’s merger with Shaw Communications Inc. last month. Bibic said the deal’s approval, which hinged on the sale of Freedom Mobile to Quebecor Inc.’s Videotron, will create a ... Read More »
Be the first to comment!S&P/TSX composite down in late-morning trading even as Shopify shares rise
By The Canadian Press on May 4th, 2023
TORONTO – Canada’s main stock index edged lower in late-morning trading as losses led by the financial and industrial sectors outweighed strength in shares of Shopify Inc. after the e-commerce company announced it was cutting staff and selling its logistics business. The S&P/TSX composite index was down 2.41 points at 20,352.27. In New York, the ... Read More »
Be the first to comment!TD calls off deal to buy U.S. bank First Horizon over regulatory uncertainty
By Ian Bickis, The Canadian Press on May 4th, 2023
TORONTO – TD Bank Group has called off its US$13.4-billion deal to acquire U.S. bank First Horizon Corp., citing regulatory uncertainty around the takeover. The bank said Thursday it had reached a mutual agreement with the Tennessee-based bank to terminate the acquisition because it was unclear when and if it would be able to obtain ... Read More »
Be the first to comment!Stock market today: Wall Street falls as banks tumble again
By Stan Choe, The Associated Press on May 4th, 2023
NEW YORK (AP) – Stocks are falling Thursday as Wall Street’s worries about the U.S. banking system crank even higher. The S&P 500 was 0.7% lower in early trading as several market-moving forces swirled, from the latest rate increase by the European Central Bank to a report indicating more U.S. workers got laid off last ... Read More »
Be the first to comment!Bell Canada parent company reports Q1 profit down from last year, revenue higher
By The Canadian Press on May 4th, 2023
MONTREAL – BCE Inc. reported its first-quarter profit fell compared with a year ago as its revenue edged higher. The parent company of Bell Canada says it earned a profit attributable to common shareholders of $725 million or 79 cents per diluted share for the quarter ended March 31, down from $877 million or 96 ... Read More »
Be the first to comment!Stock market today: Wall Street dips as bank worries linger
By Joe Mcdonald And Matt Ott, The Associated Press on May 4th, 2023
NEW YORK (AP) – Stocks are slipping as Wall Street’s worries about the U.S. banking system crank even higher. The S&P 500 was 0.3% lower in early trading Thursday as several market-moving forces swirled, from the latest rate increase by the European Central Bank to a report indicating more U.S. workers got laid off last ... Read More »
Be the first to comment!Pilots decry industry push for solo flying
By The Canadian Press on May 4th, 2023
MONTREAL – Pilots are speaking out against an aviation industry push toward having a sole crew member in the cockpit. At a news conference in Montreal, leaders of three of the largest pilot unions representing more than 150,000 workers say a proposal to Europe’s aviation regulator aims to boost airline profits at the cost of ... Read More »
Be the first to comment!European Central Bank slows pace of rate hikes but vows more
By David Mchugh, The Associated Press on May 4th, 2023
FRANKFURT, Germany (AP) – The European Central Bank slowed the pace of its interest rate increases Thursday, stepping back like the U.S. Federal Reserve from a string of jumbo hikes aimed at snuffing out inflation. But The ECB also says it is “not pausing” even as its efforts are working by making mortgages and business ... Read More »
Be the first to comment!Statistics Canada says merchandise trade surplus $972 million in March
By The Canadian Press on May 4th, 2023
OTTAWA – Statistics Canada says the country posted a merchandise trade surplus in March of $972 million as imports fell more than exports. The agency says the surplus compared with a revised deficit of $487 million in February. The initial reading for February released last month had indicated a surplus of $422 million. The reading ... Read More »
Be the first to comment!
