Business
US economy grew at weak 1.1% rate in Q1 in sign of slowdown
By Paul Wiseman, The Associated Press on April 27th, 2023
WASHINGTON (AP) – The U.S. economy slowed sharply from January through March, decelerating to just a 1,1% annual pace as higher interest rates hammered the housing market and businesses reduced inventories. Thursday’s estimate from the Commerce Department showed that the nation’s gross domestic product – the broadest gauge of economic output – weakened after growing ... Read More »
Be the first to comment!Canadian Press NewsAlert: TotalEnergies sells Canadian operations to Suncor
By The Canadian Press on April 27th, 2023
CALGARY – 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. More coming. Companies in this story: (TSX:BBD.B)... Read More »
Be the first to comment!US Navy says Iran seized Marshall Islands-flagged oil tanker
By The Associated Press on April 27th, 2023
DUBAI, United Arab Emirates (AP) – The U.S. Navy on Thursday said Iran seized a Marshall Islands-flagged oil tanker in the Gulf of Oman on Thursday amid wider tensions over Tehran’s nuclear program. The Navy’s Mideast-based 5th Fleet identified the vessel as the Advantage Sweet. Satellite tracking data for the vessel from MarineTraffic.com showed it ... Read More »
Be the first to comment!LCBO to phase out paper bags, 15 years after trashing plastic
By The Canadian Press on April 27th, 2023
TORONTO – The Liquor Control Board of Ontario says it will phase out paper bags at its retail stores, a move the provincial agency says will save the equivalent of 188,000 trees each year. The Crown corporation says 15 years after it trashed single-use plastic bags, it will discontinue paper bags over the coming months ... Read More »
Be the first to comment!Glencore willing to take takeover offer for Teck Resources directly to shareholders
By The Canadian Press on April 27th, 2023
VANCOUVER – Swiss commodities giant Glencore says 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. The statement came after Teck repeated its assertion that the Glencore’s offer is a “non-starter,” even after the ... Read More »
Be the first to comment!Bombardier reports Q1 profit compared with a loss a year ago, revenue up 17%
By The Canadian Press on April 27th, 2023
MONTREAL – Bombardier Inc. reported a profit in its latest quarter compared with a loss a year ago as its revenue gained 17 per cent, helped by higher deliveries and selling prices for its medium and large aircraft as well as increased services revenue. The aircraft maker, which keeps its books in U.S. dollars, says ... Read More »
Be the first to comment!Trudeau visits N.Y.C. to build momentum as Canada, U.S. partner on critical minerals
By The Canadian Press on April 27th, 2023
NEW YORK – Prime Minister Justin Trudeau is in New York City to pitch America’s movers and shakers on the virtues of Canada as a trade and investment partner. Experts on both sides of the border hope to hear more about how Ottawa plans to rapidly grow its critical minerals sector. Former diplomat Louise Blais, ... Read More »
Be the first to comment!Stock market today: Bank fears send Asia shares mostly lower
By Yuri Kageyama, The Associated Press on April 26th, 2023
TOKYO (AP) – Asian shares mostly fell Thursday, echoing the drop on Wall Street, as worries about the U.S. banking sector and inflationary pressures weighed on investor sentiment. Japan’s benchmark Nikkei 225 declined 0.2% in morning trading to 28,349.95. Australia’s S&P/ASX 200 slipped 0.4% to 7,288.70. South Korea’s Kospi rose nearly 0.1% to 2,486.90. Hong ... Read More »
Be the first to comment!BC Financial Services Authority issues ‘landmark penalty’ against Kamloops woman
By The Canadian Press on April 26th, 2023
KAMLOOPS, B.C. – The BC Financial Services Authority has issued its largest penalty to date against a Kamloops, B.C., woman who it says failed to comply with an order to stop unlicensed rental property management services. The authority says Kathy Alaina Bakker provided unauthorized rental property management for 10 properties in the city between December ... Read More »
Be the first to comment!Canadian Pacific Kansas City says first-quarter earnings rose ahead of merger
By The Canadian Press on April 26th, 2023
CALGARY – Fresh from a historic merger, Canadian Pacific Kansas City president and CEO Keith Creel says the company is focused on a disciplined integration into a railway network that he believes will become “the most relevant in North America.” “We’re not going to get ahead of our skis. We’re going to be methodical about ... Read More »
Be the first to comment!Canadian Pacific Kansas City first-quarter earnings up more than 35 per cent
By The Canadian Press on April 26th, 2023
CALGARY – Canadian Pacific Kansas City’s net income for the first quarter of 2023 was $800 million, up more than 35 per cent from $590 million a year earlier, the company said Wednesday. It was the last earnings report for the company’s operations before the historic merger of Canadian Pacific Railway and Kansas City Southern ... Read More »
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