Business
S&P/TSX composite index down Tuesday morning, U.S. markets rise
By The Canadian Press on July 23rd, 2024
TORONTO – Losses in the energy sector led Canada’s main stock index lower in late-morning trading on Tuesday, while U.S. stock markets rose. The S&P/TSX composite index was down 50.37 points at 22,822.28. In New York, the Dow Jones industrial average was up 29.98 points at 40,445.42. The S&P 500 index was up 16.88 points ... Read More »
Be the first to comment!Legal tech firm Clio smashes Canadian software financing record with US$900M raise
By The Canadian Press on July 23rd, 2024
BURNABY, B.C. – Clio has raised a US$900-million round of funding that the legal tech firm says is the largest software raise in Canadian tech history. The Burnaby, B.C.-based company says the Series F investment is based on a US$3 billion valuation. The funding round was led by New Enterprise Associates, whose portfolio includes investments ... Read More »
Be the first to comment!US opens investigation into Delta after global tech meltdown leads to massive cancellations
By Matt Ott, The Associated Press on July 23rd, 2024
U.S. airline regulators have opened an investigation into Delta Air Lines, which is still struggling to restore operations on Tuesday, more than four full days after a faulty software update caused technological havoc worldwide and disrupted global air travel. Transportation Secretary Pete Buttigieg announced the Delta investigation on the X social media platform Tuesday “to ... Read More »
Be the first to comment!Newfoundland refinery operator charged for flash explosion that killed worker
By The Canadian Press on July 23rd, 2024
ST. JOHN’S, N.L. – The owner of a refinery in Newfoundland has been charged with health and safety violations for a flash explosion at the plant in 2022 that killed a worker and injured seven others. A news release from the Newfoundland and Labrador government says Braya Renewable Fuels is facing a dozen charges under ... Read More »
Be the first to comment!US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
By Alex Veiga, The Associated Press on July 23rd, 2024
LOS ANGELES (AP) – The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth ... Read More »
Be the first to comment!‘Complete panic’: How to spot red flags in moving scams
By Nina Dragicevic, The Canadian Press on July 23rd, 2024
Jenny Wilcockson missed the first red flag – the estimated price for her movers came in much lower than quotes from other companies. Planning a complicated move from Hamilton, Ont., to Yarmouth, N.S., Wilcockson was sensitive to cost, but the company had a professional-looking website, the employee was very reassuring and responsive, and they explained ... Read More »
Be the first to comment!Wildfire near Jasper National Park prompts evacuation and highway closures
By Dean Bennett and David Boles, The Canadian Press on July 23rd, 2024
EDMONTON – Multiple wildfires in Jasper National Park flared up with a vengeance late Monday night, forcing all park visitors along with the 4,700 residents of the Jasper townsite to flee west with little notice over mountain roads through darkness, soot and ash. Photos and video shared on social media illuminated a midnight cavalcade of ... Read More »
Be the first to comment!Coca-Cola raises full-year sales guidance after stronger-than-expected second quarter
By Dee-ann Durbin, The Associated Press on July 23rd, 2024
Coca-Cola is raising is full-year sales guidance after a stronger-than-expected second quarter. The Atlanta beverage giant said Monday that it now expects organic sales to grow between 9% and 10% this year, up from 8% to 9% previously. Revenue rose 3% to $12.4 billion for the April-June period. That was higher than Wall Street anticipated. ... Read More »
Be the first to comment!UPS boosts volume in US for first time since 2022, but profit and revenue slide
By Michelle Chapman, The Associated Press on July 23rd, 2024
UPS boosted its volume in the U.S. for the first time since 2022 during its second quarter, but profit and revenue fell short of Wall Street expectations, partly due to a hefty charge. Shares dropped 7% before the market opened on Tuesday. CEO Carol Tome said the package delivery company returned to volume growth in ... Read More »
Be the first to comment!Faster progress needed on removing interprovincial trade barriers: CFIB report
By The Canadian Press on July 23rd, 2024
TORONTO – Doing business across provincial lines is starting to get easier but progress is slow, says the Canadian Federation of Independent Business. In a report released Tuesday, the CFIB says it’s important for provinces and the federal government to remove barriers to interprovincial trade to improve productivity and boost the economy. It says the ... Read More »
Be the first to comment!Wildfire near Jasper National Park prompts evacuation order and highway closures
By The Canadian Press on July 22nd, 2024
A wildfire in Alberta is forcing a well-known mountain community to evacuate. An evacuation order has been issued for the town of Jasper, with residents being advised to head west on Highway 16 to British Columbia. Highway 16 has also been closed for westbound travel at the Jasper Park gates, on the east side. Eastbound ... Read More »
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