Business
China eases anti-COVID measures following protests
By Joe Mcdonald, The Associated Press on December 7th, 2022
BEIJING (AP) – China rolled back rules on isolating people with COVID-19 and dropped virus test requirements for some public places Wednesday in a dramatic change to a strategy that confined millions of people to their homes and sparked protests and demands for President Xi Jinping to resign. China has enforced some of the world’s ... Read More »
Be the first to comment!Bank of Canada to announce interest rate decision this morning
By The Canadian Press on December 7th, 2022
OTTAWA – The Bank of Canada is expected to raise its key interest rate today, making it the seventh consecutive time it does so this year. The central bank will publish its rate decision at 10 a.m. accompanied by a news release that will provide insight into the reasons behind the governing council’s decision. Forecasters ... Read More »
Be the first to comment!Asia stocks lower as China scales back many COVID curbs
By Elaine Kurtenbach, The Associated Press on December 7th, 2022
Shares fell in Asia on Wednesday with Hong Kong’s benchmark down more than 2% even as Beijing announced it was drastically scaling back its “zero-COVID” policies, shifting away from trying to isolate every single case. The Hang Seng index in Hong Kong fell 2.5% to 18,949.24 and the Shanghai Composite index was down 0.4% at ... Read More »
Be the first to comment!China announces roll-back of strict anti-COVID-19 measures
By The Associated Press on December 6th, 2022
BEIJING (AP) – In a sharp reversal, China has announced a series of measures rolling back some of the most draconian anti-COVID-19 restrictions. The Wednesday announcement includes limiting the scale of lockdown to individual apartment floors and buildings, rather than entire districts and neighborhoods. People who test positive for the virus will be able to ... Read More »
1 responseCourt upholds all but one rule on airline compensation for passengers
By Caitlin Yardley, The Canadian Press on December 6th, 2022
The rules that bolster compensation for air passengers subjected to delayed flights and damaged luggage have been largely upheld in a Federal Court of Appeal ruling. The court on Tuesday dismissed the appeal that challenged the validity of the passenger bill of rights, with the exception of one regulation that applies to the temporary loss ... Read More »
1 responseA list of some of the air passenger protections upheld by Tuesday’s court ruling
By The Canadian Press on December 6th, 2022
A court ruling has largely upheld the validity of Canada’s air passenger bill of rights, which was introduced by the Canadian Transportation Agency in 2019. Here are some of the passenger rights that the CTA regulations protect, and that were upheld by the federal court of appeal Tuesday: Compensation for delays and cancellations: Airlines must ... Read More »
1 responseMaryland bans TikTok in state agencies, latest state to act
By Brian Witte, Scott Bauer And James Pollard, The Associated Press on December 6th, 2022
ANNAPOLIS, Maryland (AP) – Maryland is banning the use of TikTok and certain China and Russia-based platforms in the state’s executive branch of government, Gov. Larry Hogan said Tuesday, the latest state to address cybersecurity risks presented by the platforms. The Republican governor announced an emergency cybersecurity directive to prohibit the platforms’ use, saying they ... Read More »
Be the first to comment!S&P/TSX composite ends down more than 250 points, U.S. stock markets also down
By The Canadian Press on December 6th, 2022
TORONTO – Canada’s main stock index closed down more than 250 points in broad losses led by energy and technology over interest rate concerns and a drop in crude prices, while U.S. stock markets were also in the red. The S&P/TSX composite index closed down 252.09 points at 1,990.17. In New York, the Dow Jones ... Read More »
Be the first to comment!Stocks fall again on Wall Street, extending recent losses
By Damian J. Troise And Alex Veiga, The Associated Press on December 6th, 2022
NEW YORK – Stocks fell again on Wall Street, extending the markets recent string of losses. Investors are worried that the Federal Reserve will need to keep applying the brakes to the economy in order to get inflation under control, raising the risk of a sharp recession. The S&P 500 fell 1.4% Tuesday, its fourth ... Read More »
1 responseTrump Organization convicted in executive tax dodge scheme
By Michael R. Sisak, The Associated Press on December 6th, 2022
NEW YORK (AP) – Donald Trump’s company was convicted of tax fraud on Tuesday in a case brought by the Manhattan District Attorney, a significant repudiation of financial practices at the former president’s business. The guilty verdict came on the second day of deliberations following a trial in which the Trump Organization was accused of ... Read More »
Be the first to comment!Court upholds all but one rule on airline compensation
By Caitlin Yardley, The Canadian Press on December 6th, 2022
The federal court of appeal ruled to largely uphold the rules that bolster compensation for air passengers subjected to delayed flights and damaged luggage. The court on Tuesday dismissed the appeal that challenged the validity of the passenger bill of rights, with the exception of one regulation that applies to the temporary loss of baggage. ... Read More »
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