Business
CBC keeps accounts ‘on pause’ amid review after Twitter axes ‘government-funded’ tag
By The Canadian Press on April 21st, 2023
The CBC is leaving its Twitter accounts inactive as it evaluates the social media platform’s decision to remove the “government-funded media” tag on its accounts. CBC spokesperson Leon Mar says the public broadcaster is “reviewing this latest development” and will leave its Twitter accounts “on pause” before taking any next steps. Twitter removed the “government-funded ... Read More »
Be the first to comment!Eastern Canada sees price jump at the pump, but experts say gas costs could level off
By The Canadian Press on April 21st, 2023
TORONTO – After a surge in gas prices across Eastern Canada earlier this week, experts say costs at the pump could level off despite the normal high-demand period associated with this time of year. As the cost of oil edged below US$80 per barrel this week, gas prices soared to around 164.9 cents per litre ... Read More »
Be the first to comment!Former industry minister takes job at Rogers two years after leaving office
By The Canadian Press on April 21st, 2023
OTTAWA – Former Liberal industry minister Navdeep Bains is joining Rogers as the company’s new chief corporate affairs officer. Rogers announced several new appointments to its executive leadership team on Thursday, including Bains and a former Shaw executive. Bains served in Prime Minister Justin Trudeau’s cabinet as industry minister from 2015 until early 2021, and ... Read More »
Be the first to comment!Tech and industrial stocks help lift S&P/TSX composite, U.S. stock markets lower
By The Canadian Press on April 21st, 2023
TORONTO – Strength in technology and industrial stocks helped Canada’s main stock index creep higher in late-morning trading, while U.S. stock markets fell on the final day of trading for the week. The S&P/TSX composite index was up 4.33 points at 20,635.02. In New York, the Dow Jones industrial average was down 54.51 points at ... Read More »
Be the first to comment!Canadian consumers pull back on spending amid high prices, interest rates: Experts
By Brett Bundale, The Canadian Press on April 21st, 2023
Canadian consumers are pulling back on spending as rising prices and high interest rates appear to be taking a toll on retail sales. Retail sales slipped 0.2 per cent to $66.3 billion in February amid a drop in spending at general merchandise stores and gasoline stations and fuel vendors, Statistics Canada said Friday. The early ... Read More »
Be the first to comment!Stock market today: Wall Street quiet at the open, P&G gains
By Elaine Kurtenbach, The Associated Press on April 21st, 2023
Stocks are barely moving on Wall Street as investors close out what has been a week of relatively quiet trading. The S&P 500 and Dow are up by less than 0.1%, while the Nasdaq is slightly lower. The market has a handful of earnings reports to assess Friday. Shares of hospital operator HCA Healthcare jumped ... Read More »
Be the first to comment!Statistics Canada says retail sales down 0.2% in February
By The Canadian Press on April 21st, 2023
OTTAWA – Statistics Canada says retail sales fell 0.2 per cent to $66.3 billion in February as a drop in sales at gasoline stations and fuel vendors and general merchandise stores led the way lower. The agency also says that its early estimate for March points to a decline of 1.4 per cent for that ... Read More »
Be the first to comment!Norwegian sovereign wealth fund to support Teck Resources plan to split business
By The Canadian Press on April 21st, 2023
VANCOUVER – Norway’s sovereign wealth fund says it will vote to support Teck Resources Ltd.’s plan to split the company’s metals and steelmaking coal businesses into two separate companies at a key shareholder meeting next week. The decision comes as Teck works to secure support for its plan over an unsolicited takeover proposal by Swiss ... Read More »
Be the first to comment!Cost of VW battery plant subsidy raises questions on necessity of securing it
By The Canadian Press on April 21st, 2023
SAINT THOMAS, Ont. – There’s nothing small about the $13 billion in subsidies that Canada has promised Volkswagen to secure the automaker’s first battery plant outside of Europe, but it remains to be seen whether the deal is enough to kick start the manufacturing sector’s future. The rising sticker shock of establishing a manufacturing base ... Read More »
Be the first to comment!Outdoor store MEC commits to cutting carbon emissions from products, supply chain
By The Canadian Press on April 21st, 2023
VANCOUVER – Canadian outdoor retailer Mountain Equipment Co. has set sweeping new emissions targets for its supply chain, part of what the company is calling a stronger, science-based plan to help address the climate crisis. MEC said its goal is to slash emissions by 55 per cent by 2030 and 90 per cent by 2050. ... Read More »
Be the first to comment!Twitter scraps ‘government-funded media’ tag on public broadcasters
By The Canadian Press on April 20th, 2023
Twitter removed the “government-funded media” tag on public broadcasters including the CBC Thursday without any explanation. The move came after the Global Task Force for public media called on Twitter earlier in the day to correct its description of public broadcasters in Canada, Australia, New Zealand and South Korea. The group chaired by CBC president ... Read More »
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