Business
S&P/TSX composite up in broad-based rally, U.S. stocks also higher
By The Canadian Press on April 27th, 2023
TORONTO – The heavyweight energy and financial sectors helped lead a broad-based rally as Canada’s main stock index rose more than 100 points in late-morning trading, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 103.26 points at 20,469.98. In New York, the Dow Jones industrial average was up 218.27 points ... Read More »
Be the first to comment!Bombardier sees profits rise despite supply chain ‘challenges,’ economic slowdown
By Christopher Reynolds, The Canadian Press on April 27th, 2023
MONTREAL – Bombardier Inc. turned a profit in its latest quarter despite the ongoing supply chain issues plaguing the aviation sector, as the business jet maker notched slightly more deliveries at higher prices. The company, which keeps its books in U.S. dollars, earned US$302 million in net income in the quarter ended March 31 after ... Read More »
Be the first to comment!Say goodbye to the dress: Hudson’s Bay to close Kleinfeld Bridal in its Toronto store
By The Canadian Press on April 27th, 2023
TORONTO – Hudson’s Bay is closing its Kleinfeld Bridal location, nearly 10 years after opening the upscale wedding gown salon at its flagship Toronto department store. The retailer says Kleinfeld Hudson’s Bay will close to new customers on Sunday, but will keep any booked consultations and continue to serve existing customers through 2024 and beyond, ... Read More »
Be the first to comment!Iran navy seizes Marshall Islands oil tanker in Gulf of Oman
By Jon Gambrell, The Associated Press on April 27th, 2023
DUBAI, United Arab Emirates (AP) – Iran’s navy seized a Marshall Islands-flagged oil tanker in the Gulf of Oman on Thursday amid wider tensions over Tehran’s nuclear program, the latest-such capture in a waterway crucial for global energy supplies. The Navy’s Mideast-based 5th Fleet identified the vessel as the Advantage Sweet. Satellite tracking data for ... Read More »
Be the first to comment!Average home price will not revert to pre-pandemic levels this year: CMHC
By The Canadian Press on April 27th, 2023
TORONTO – The Canada Mortgage and Housing Corp. says the average home price will not revert to pre-pandemic levels in 2023 because declines in prices will taper off soon and bottom out sometime this year. The federal housing agency is predicting home prices and sales will record year-over-year declines and by the end of the ... Read More »
Be the first to comment!Owe money to the CRA this tax season? Here are some repayment options
By Craig Wong, The Canadian Press on April 27th, 2023
OTTAWA – Getting an income tax refund can be a happy bonus for your household budget, but an unexpected tax bill can be an unpleasant surprise, especially if you don’t have the cash on hand to pay it. But, experts say, the Canada Revenue Agency is willing to work with taxpayers to arrange payment plans ... Read More »
Be the first to comment!Stock market today: Facebook’s parent Meta leads tech higher
By Yuri Kageyama And Matt Ott, The Associated Press on April 27th, 2023
NEW YORK (AP) – Wall Street is opening higher after Meta Platforms became the latest Big Tech stock to report fatter profits than expected for the start of the year. The S&P 500 was 0.7% higher in early trading Thursday and on pace for its first gain in three days. The Dow was up 0.3%, ... Read More »
Be the first to comment!TotalEnergies sells Canadian operations to Suncor in deal worth up to $6.1B
By The Canadian Press on April 27th, 2023
CALGARY – French company TotalEnergies says it has signed a deal to sell its Canadian operations to Suncor Energy Inc. in an agreement worth up to $6.1 billion. Under the deal, Suncor will pay $5.5 billion in cash, plus up to an additional $600 million that is conditional on Western Canadian Select benchmark oil pricing ... Read More »
Be the first to comment!Glencore willing to take Teck Resources bid directly to shareholders
By The Canadian Press on April 27th, 2023
VANCOUVER – Swiss commodities giant Glencore said it is willing to present its takeover offer directly to shareholders of Teck Resources Ltd. if the company’s board does not come to the negotiating table regarding its unsolicited proposal. “We believe that with engagement, we could further improve our proposal’s structure, terms and value, which would be ... Read More »
Be the first to comment!TotalEnergies sells Canadian operations to Suncor in deal worth up to $6.1 billion
By The Canadian Press on April 27th, 2023
CALGARY – French company TotalEnergies says it has signed a deal to sell its Canadian operations to Suncor Energy Inc. in an agreement worth up to $6.1 billion. Under the deal, Suncor will pay $5.5 billion in cash, plus up to an additional $600 million that is conditional on Western Canadian Select benchmark oil pricing ... Read More »
Be the first to comment!Jobless claims fall again with labor market churning along
By Matt Ott, The Associated Press on April 27th, 2023
Applications for unemployment benefits in the U.S. fell last week as the labor market continues to show strength despite some weakness in other parts of the economy. The number of Americans filing for jobless claims for the week ending April 22 fell by 16,000 to 230,000, the Labor Department reported Thursday. The four-week moving average ... Read More »
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