Business
Metro warns food inflation could persist as suppliers continue to increase prices
By Brett Bundale, The Canadian Press on November 16th, 2022
One of Canada’s biggest grocers says it’s continuing to receive many requests from food suppliers for price increases next year. Metro Inc. president and CEO Eric La Flèche said Wednesday the retailer expects food inflation to moderate in the new year as prices are compared against the high inflation of 2022. But the outlook remains ... Read More »
Be the first to comment!Here’s a list of October inflation rates for selected Canadian cities
By The Canadian Press on November 16th, 2022
OTTAWA – Canada’s national annual inflation rate was 6.9 per cent in October, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets): – St. John’s, N.L.: 6.4 per cent (5.8) – Charlottetown-Summerside: 9.4 ... Read More »
Be the first to comment!Here’s a list October inflation rates for Canadian provinces
By The Canadian Press on November 16th, 2022
OTTAWA – Canada’s national annual inflation rate was 6.9 per cent in October, Statistics Canada says. Here’s what happened in the provinces (previous month in brackets): – Newfoundland and Labrador: 6.5 per cent (6.1) – Prince Edward Island: 8.7 per cent (8.4) – Nova Scotia: 7.7 per cent (7.3) – New Brunswick: 6.9 per cent ... Read More »
Be the first to comment!Toronto-based Waabi launches AI-powered self-driving system for trucking
By The Canadian Press on November 16th, 2022
Toronto-based Waabi says it is launching its self-driving system in the real world as it looks to push trucking towards a more autonomous future. Company founder and chief executive Raquel Urtasun says the system, called the Waabi Driver, combines AI-driven navigation with an array of sensors including laser-based lidar, cameras and radars to help steer ... Read More »
Be the first to comment!CMHC says annual pace of housing starts slowed in October
By The Canadian Press on November 16th, 2022
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts slowed in October from its high for the year reached in September. The national housing agency says the seasonally adjusted annual rate of housing starts in October was 267,055 units, down 11 per cent from 298,811 units in September. The annual ... Read More »
Be the first to comment!Canada’s annual inflation rate was unchanged in October
By The Canadian Press on November 16th, 2022
OTTAWA – Canada’s annual inflation rate held steady at 6.9 per cent last month. After declining for several months, Statistics Canada said the rate of inflation was unchanged in October from September as gas prices went up. In its latest consumer price index report released Wednesday, the federal agency said higher mortgage interest costs also ... Read More »
Be the first to comment!US retail sales rose 1.3% last month, a sign of resilience
By Christopher Rugaber, The Associated Press on November 16th, 2022
WASHINGTON (AP) – Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the holiday shopping season begins amid painfully high inflation and rising interest rates. The government said Wednesday that retail sales rose 1.3% in October from September, up from a flat reading in September ... Read More »
Be the first to comment!Metro reports Q4 profit down from year ago as it takes one-time Air Miles charge
By The Canadian Press on November 16th, 2022
MONTREAL – Metro Inc. reported its fourth-quarter profit fell compared with a year ago as it took a $60-million charge related to the company’s decision to have its Jean Coutu drugstore chain withdraw from the Air Miles loyalty program next year. The grocery and drugstore retailer says it earned $168.7 million or 70 cents per ... Read More »
Be the first to comment!Poland, NATO say missile strike wasn’t a Russian attack
By Vasilisa Stepanenko, The Associated Press on November 16th, 2022
PRZEWODOW, Poland (AP) – NATO member Poland and the head of the military alliance both said Wednesday there is “no indication” that a missile that came down in Polish farmland, killing two people, was an intentional attack, and that air defenses in neighboring Ukraine likely launched the Soviet-era projectile to fend off a Russian assault ... Read More »
Be the first to comment!Loblaw Companies Ltd. reports Q3 profit and revenue up from year ago
By The Canadian Press on November 16th, 2022
BRAMPTON, Ont. – Loblaw Companies Ltd. reported its third-quarter profit rose about 30 per cent compared with a year ago. The grocery and drugstore retailer says its net earnings available to common shareholders totalled $556 million or $1.69 per diluted share for the quarter ended Oct. 8. The result was up from $431 million or ... Read More »
Be the first to comment!Poland, NATO say missile landing wasn’t Russian attack
By Vasilisa Stepanenko, The Associated Press on November 16th, 2022
PRZEWODOW, Poland (AP) – Poland said Wednesday there is “absolutely no indication” that a missile which came down in Polish farmland, killing two people, was a intentional attack on the NATO country, and that neighbor Ukraine likely launched the Soviet-era projectile as it fended off a Russian air assault that savaged its power grid. “Ukraine’s ... Read More »
Be the first to comment!
