Business
Hollywood writers, slamming ‘gig economy,’ to go on strike
By Jake Coyle, The Associated Press on May 1st, 2023
NEW YORK (AP) – Television and movie writers declared late Monday that they will launch an industrywide strike for the first time in 15 years, as Hollywood girded for a walkout with potentially widespread ramifications in a fight over fair pay in the streaming era. The Writers Guild of America said that its 11,500 unionized ... Read More »
Be the first to comment!Biden to meet with congressional leaders at WH May 9
By Josh Boak And Lisa Mascaro, The Associated Press on May 1st, 2023
WASHINGTON (AP) – President Joe Biden phoned all four Congressional leaders on Monday afternoon and invited them to a May 9 meeting at the White House – a sign of the rising pressure to raise the debt cap as the Treasury Department is warning of a default as soon as June 1. Administration officials confirmed ... Read More »
Be the first to comment!MEG Energy earns $81M; down 77 per cent from first quarter 2022 as oil prices fall
By The Canadian Press on May 1st, 2023
CALGARY – MEG Energy Corp. says it earned $81 million in the first quarter of 2023, a 77 per cent decrease from the $362 million it earned in the same quarter the previous year. The Calgary-based company says its profit worked out to 28 cents per share, compared to $1.15 cents per share in the ... Read More »
Be the first to comment!Biden to meet with congressional leaders meet at WH May 9
By Josh Boak And Lisa Mascaro, The Associated Press on May 1st, 2023
WASHINGTON (AP) – President Joe Biden phoned all four Congressional leaders on Monday afternoon and invited them to a May 9 meeting at the White House – a sign of the rising pressure to raise the debt cap as the Treasury Department is warning of a default as soon as June 1. An administration official ... Read More »
Be the first to comment!Competition Bureau seeks input on RBC’s proposed takeover of HSBC Bank Canada
By The Canadian Press on May 1st, 2023
OTTAWA – The Competition Bureau has put out a call for information to help it review Royal Bank of Canada’s proposed takeover of HSBC Bank Canada. The agency says it’s looking for input from market participants and Canadians on a range of areas including residential mortgages, personal and business lending and bank accounts. It says ... Read More »
Be the first to comment!S&P/TSX composite dips on Monday, U.S. stock markets also slip
By Sammy Hudes, The Canadian Press on May 1st, 2023
TORONTO – Weakness in energy stocks drove Canada’s main stock index to dip on Monday, while U.S. stock markets also fell to start the trading week. Stephen Duench, vice-president and portfolio manager for AGF Investments Inc., said it was unsurprising to see the markets remain “fairly calm” following the “big swings” of the previous week, ... Read More »
Be the first to comment!Yellen says US could hit debt ceiling as soon as June 1
By Fatima Hussein, The Associated Press on May 1st, 2023
WASHINGTON (AP) – Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. is projected to reach its debt limit as early as June 1, if the body does not raise or suspend the debt limit before then. In a letter to House and Senate leaders, Yellen urged Congress “to protect the full faith ... Read More »
Be the first to comment!FDIC recommends raising insured deposit limit for businesses
By Sharon L. Lynch, The Associated Press on May 1st, 2023
NEW YORK (AP) – U.S. businesses might be able to secure bank deposit insurance for accounts holding more than $250,000 if Congress agrees with the Federal Deposit Insurance Corp.’s new proposal to ease the industry turmoil that has sparked three bank failures in the past two months. The FDIC recommended the change Monday, rethinking the ... Read More »
Be the first to comment!Stock market today: Markets drift after latest bank failure
By Stan Choe, The Associated Press on May 1st, 2023
NEW YORK (AP) – Stocks drifted to a mixed close on Wall Street as investors braced for what they hope will be the last hike to interest rates for a long time. The S&P 500 closed virtually unchanged Monday as the latest historic U.S. banking failure made few waves in markets. Regulators seized First Republic ... Read More »
Be the first to comment!Under pressure from crypto miners, NB Power places pause on electricity requests
By The Canadian Press on May 1st, 2023
FREDERICTON – New Brunswick’s electric utility imposed a moratorium on providing new service to cryptocurrency mining operations last year, saying it was concerned about its ability to meet the increasing demands from the power-hungry sector. Details about the moratorium are contained in a cabinet order dated March 1, 2022, which endorses the indefinite pause and ... Read More »
Be the first to comment!Calgary sets new April record as benchmark price hits $550,800: board
By The Canadian Press on May 1st, 2023
CALGARY – The Calgary Real Estate Board says the city set a new April record last month as the benchmark price of a home sold reached $550,800. The Alberta board says the price amounts to a two per cent increase from March and a 1.19 per cent increase from a year ago. The increase in ... Read More »
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