Business
Air cargo company Cargojet reports $30.5M Q1 profit, revenue down from year ago
By The Canadian Press on May 1st, 2023
MISSISSAUGA, Ont. – Air cargo company Cargojet Inc. reported a first-quarter profit of $30.5 million as its revenue edged lower to start the year. Cargojet chief executive Ajay Virmani says the company is not immune to softening industry trends as well as the macro factors of slower economic growth, higher interest rates and persistent inflation. ... Read More »
Be the first to comment!First Republic Bank seized, sold to JPMorgan Chase
By Ken Sweet, The Associated Press on May 1st, 2023
NEW YORK (AP) – Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. San Francisco-based First Republic is the third midsize bank to fail in two months. It is ... Read More »
Be the first to comment!Regulators seize First Republic Bank, sell to JPMorgan Chase
By Ken Sweet, The Associated Press on May 1st, 2023
NEW YORK (AP) – The Federal Deposit Insurance Corp. says JPMorgan Chase Bank will take over all deposits and most of the assets of troubled First Republic Bank. The FDIC said early Monday that California regulators had closed First Republic and appointed it as receiver. JPMorgan Chase will assume “all of the deposits and substantially ... Read More »
Be the first to comment!British shops in Canada see demand for King Charles goods, despite royal drama
By Tara Deschamps, The Canadian Press on May 1st, 2023
When Queen Elizabeth died in September, Carl Hulme happened to be in England – the perfect spot to scoop up commemorative fine bone china, tea towels and canvas bags to stock his Blimeys British Store and Gift Shop in Essex, Ont. Most of it sold by the time goods marking King Charles’ May 6 coronation ... Read More »
Be the first to comment!Stock market today: Tokyo gains, most Asian markets closed
By Elaine Kurtebach, The Associated Press on April 30th, 2023
Shares advanced Monday in Tokyo and Sydney while most Asian markets were closed for May 1 holidays. The traditional Labor Day holidays around the globe likely limited initial market reactions to a delay in an expected decision by U.S. regulators on what to do with troubled First Republic Bank. San Francisco-based First Republic has struggled ... Read More »
Be the first to comment!Grand & Toy launches ‘brand refresh’ as it narrows focus to business customers
By Brett Bundale, The Canadian Press on April 30th, 2023
Grand & Toy invented next-day delivery, so the story goes. In 1882, long before online stores and big-box retail, the Canadian office supplies company loaded goods onto a wheelbarrow or horse-drawn wagon and delivered items to business customers within a day. The company grew steadily for a century, opening dozens of stores and becoming a ... Read More »
Be the first to comment!S&P/TSX composite gains more than 100 points Friday, U.S. markets also rise
By Rosa Saba, The Canadian Press on April 28th, 2023
TORONTO – Canada’s main stock index gained more than 100 points Friday on strength in the energy sector, while U.S. indexes also rose to cap off a volatile week in North American markets. The S&P/TSX composite index was up 113.90 points at 20,636.54. In New York, the Dow Jones industrial average was up 272 points ... Read More »
Be the first to comment!Ritual to add consumer fee to orders placed on platform starting May 1
By The Canadian Press on April 28th, 2023
TORONTO – Ritual is going to begin charging consumers a fee for every order they place on the food pickup platform. The Toronto-based technology company says users will be charged between 15 and 99 cents for orders under $30 and $1.99 for orders above $30 starting May 1. In an email to users, Ritual says ... Read More »
Be the first to comment!Stock market today: Wall Street rises to cap a winning April
By Stan Choe, The Associated Press on April 28th, 2023
NEW YORK (AP) – Wall Street closed out a winning April with gains Friday as more companies say their profits at the start of the year weren’t as bad as expected. The S&P 500 rose 0.8% Friday. The Dow and the Nasdaq also rose. Exxon Mobil and Intel climbed after reporting better results for the ... Read More »
Be the first to comment!Champagne vows to take action if telecoms don’t reach deal for TTC cell service
By Sammy Hudes, The Canadian Press on April 28th, 2023
Canada’s industry minister vowed to step in if Canada’s major telecom providers don’t reach an agreement to ensure wireless service is available for all riders on Toronto’s subway system. Speaking at a press conference in Montreal on Friday, François-Philippe Champagne said he’s not shy about “pushing the telcos to do what’s right for Canadians.” “Because ... Read More »
Be the first to comment!Imperial targeting mid-to-late decade for its Cold Lake carbon capture project
By Amanda Stephenson, The Canadian Press on April 28th, 2023
CALGARY – Imperial Oil Ltd. could begin injecting and storing harmful CO2 emissions from its Cold Lake operations by the middle of this decade – well before the completion of a massive carbon capture and storage transportation line that has been proposed for the Canadian oilsands, the company said Friday. Imperial – which on Friday ... Read More »
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