Business
House Republicans pass US debt bill, push Biden on spending
By Lisa Mascaro And Kevin Freking, The Associated Press on April 26th, 2023
WASHINGTON (AP) – House Republicans passed sweeping legislation Wednesday that would raise the government’s legal debt ceiling by $1.5 trillion in exchange for steep spending restrictions, a tactical victory for Speaker Kevin McCarthy as he challenges President Joe Biden to negotiate and prevent a catastrophic federal default this summer. Biden has threatened to veto the ... Read More »
Be the first to comment!Industrial and energy stocks drag down S&P/TSX composite, U.S. stock markets mixed
By The Canadian Press on April 26th, 2023
TORONTO – Canada’s main stock index was down at the market close on Wednesday, driven by drops in industrials and energy stocks, while U.S. stock markets were mixed. The S&P/TSX composite index was down 73.15 points at 20,366.72. In New York, the Dow Jones industrial average was down 228.96 points at 33,301.87. The S&P 500 ... Read More »
Be the first to comment!Canadian Pacific Kansas City first-quarter earnings up more than 35%
By The Canadian Press on April 26th, 2023
CALGARY – Canadian Pacific Kansas City says its net income for the first quarter of 2023 was $800 million, up more than 35 per cent from $590 million a year earlier. The Calgary-based railway company says diluted earnings per share were 86 cents, up more than 36 per cent from 63 cents the same quarter ... Read More »
Be the first to comment!Stock market today: First Republic falls more, tech rallies
By Stan Choe, The Associated Press on April 26th, 2023
NEW YORK (AP) – Wall Street closed lower again, though a rally for Microsoft and some other Big Tech stocks helped limit the losses. The S&P 500 fell 0.4% Wednesday after erasing an earlier gain. The index is coming off its worst day in a month, hurt by concerns about the strength of U.S. banks. ... Read More »
Be the first to comment!Precision Drilling reports $95.8M Q1 profit, revenue up nearly 60% from year ago
By The Canadian Press on April 26th, 2023
CALGARY – Precision Drilling Corp. reported a first-quarter profit compared with a loss a year ago as its revenue rose nearly 60 per cent, helped by stronger drilling activity and price increases in the U.S. and Canada. The oilfield services company says it earned $95.8 million or $5.57 per diluted share for the quarter ended ... Read More »
Be the first to comment!Stellantis to offer buyouts amid electric vehicle transition
By Tom Krisher, The Associated Press on April 26th, 2023
DETROIT (AP) – Another automaker is trying to cut its workforce to trim expenses and stay competitive as the industry makes the long and costly transition to electric vehicles. Stellantis on Wednesday said it’s offering buyouts to groups of white-collar and unionized employees in the U.S., as well as hourly workers in Canada. The cuts ... Read More »
Be the first to comment!Bank of Canada considered raising interest rates at its last meeting
By Nojoud Al Mallees, The Canadian Press on April 26th, 2023
OTTAWA – The Bank of Canada considered raising interest rates earlier this month, as it feared being too slow to react to sticky inflation. In its summary of deliberations released Wednesday, the central bank says its governing council contemplated another rate hike. The main arguments in favour of another rate hike were resilience in economic ... Read More »
Be the first to comment!Teck says Glencore bid remains ‘non-starter,’ but leaves door open for suitors
By Amanda Stephenson, The Canadian Press on April 26th, 2023
Teck Resources Ltd.’s move to cancel a key shareholder vote on its plan to separate its businesses may be seen as a win for Glencore in its ongoing campaign to acquire the Vancouver-based mining company. But Teck is standing by its assertion that the offer by the Swiss commodities giant remains a “non-starter,” and Teck ... Read More »
Be the first to comment!Ukraine’s Zelenskyy upbeat after talk with China’s Xi
By David Rising And Joe Mcdonald, The Associated Press on April 26th, 2023
KYIV, Ukraine (AP) – Ukrainian President Volodymyr Zelenskyy said he and Chinese leader Xi Jinping had a “long and meaningful” phone call Wednesday, their first known contact since Russia invaded Ukraine over a year ago, and Beijing appointed an envoy to pursue a “political settlement.” The nearly hour-long call came two months after Beijing, which ... Read More »
Be the first to comment!Disney sues DeSantis, calling park takeover ‘retaliation’
By Anthony Izaguirre, The Associated Press on April 26th, 2023
TALLAHASSEE, Fla. (AP) – Disney sued Florida Gov. Ron DeSantis on Wednesday over the Republican’s takeover of its theme park district, alleging the governor waged a “targeted campaign of government retaliation” after the company opposed a law critics call “Don’t Say Gay.” The suit, filed in Tallahassee, was filed minutes after a Disney World oversight ... Read More »
Be the first to comment!Disney sues DeSantis over theme park takeover
By Anthony Izaguirre, The Associated Press on April 26th, 2023
TALLAHASSEE, Fla. (AP) – Disney sued Florida Gov. Ron DeSantis on Wednesday over the Republican’s takeover of its theme park district, alleging the governor waged a “targeted campaign of government retaliation” after the company opposed a law critics call “Don’t Say Gay.” The suit was filed minutes after a Disney World oversight board appointed by ... Read More »
Be the first to comment!
