Business
Vietnamese electric vehicle maker VinFast launches first showroom in Canada
By The Canadian Press on November 16th, 2022
TORONTO – Vietnamese electric vehicle maker VinFast says it has opened its first Canadian showroom as it prepares for a wider expansion into the market. The company says its first store is in Toronto’s Yorkdale Shopping Centre, while it plans to open seven more stores in the country by year end including at the CF ... Read More »
1 responseS&P/TSX composite edges higher, U.S. stock markets lower in late-morning trading
By The Canadian Press on November 16th, 2022
TORONTO – Canada’s main stock index edged higher as gains in the industrial and utility sectors helped outweigh losses in the energy and base metal stocks, while U.S. stock markets were down in late-morning trading. The S&P/TSX composite index was up 16.80 points at 20,011.58. In New York, the Dow Jones industrial average was down ... Read More »
Be the first to comment!Canada’s annual inflation rate unchanged in October as gas prices climbed
By Nojoud Al Mallees, The Canadian Press on November 16th, 2022
OTTAWA – Canada’s annual inflation rate held steady in October after several months of slowing as gas prices climbed. In its latest consumer price index report, Statistics Canada said the country’s annual inflation rate was 6.9 per cent last month, remaining unchanged from September. Although inflation staying high is not good news, RSM Canada economist ... Read More »
1 responseNFI Group reports US$42.6M Q3 loss, revenue up from year ago
By The Canadian Press on November 16th, 2022
WINNIPEG – NFI Group Inc. reported a loss of US$42.6 million in its latest quarter compared with a loss of US$15.4 million in the same quarter last year as its revenue edged higher. NFI chief executive Paul Soubry says the results reflect the ongoing impacts of unreliable supplier performance, associated production inefficiencies and heightened inflation ... Read More »
1 responseMetro 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 »
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