Business
China’s GDP grew by 4.5% in quarter, boosted by consumption
By The Associated Press on April 17th, 2023
BEIJING (AP) – China’s gross domestic product grew 4.5% in the first quarter of the year, boosted by increased consumption and retail sales, after authorities abruptly abandoned the stringent “zero-COVID” strategy. The growth in the world’s No. 2 economy from January to March compared to the same period in 2022 was the fastest in the ... Read More »
Be the first to comment!China’s GDP growth rises to 4.5% amid consumption boost
By The Associated Press on April 17th, 2023
BEIJING (AP) – China’s economy grew 4.5% in the first quarter of the year, boosted by increased consumption and retail sales, after authorities abruptly abandoned the stringent “zero-COVID” strategy. The growth in the world’s No. 2 economy from January to March compared to the same quarter last year outpaced the 2.9% growth in the previous ... Read More »
Be the first to comment!Costco executive tells MPs it has not sought to increase profits amid inflation
By The Canadian Press on April 17th, 2023
OTTAWA – A Costco executive has told a parliamentary committee studying food inflation that the wholesale retailer has not sought to increase its profits amid rapidly rising grocery prices. Pierre Riel, the executive vice-president and chief operating officer of Costco Wholesale International and Canada, spoke before the committee Monday evening. Riel is the fifth executive ... Read More »
Be the first to comment!Alberta NDP promises $200 million to create post-secondary campus in downtown Calgary
By The Canadian Press on April 17th, 2023
CALGARY – Alberta’s Opposition NDP is promising up to $200 million to create a post-secondary campus in downtown Calgary if it wins the upcoming election. Leader Rachel Notley says the money would go toward creating a permanent downtown campus to bring businesses, students and researchers together for collaboration and to support economic diversification. The funding ... Read More »
Be the first to comment!S&P/TSX composite posts small gain Monday, U.S. markets also rise
By Rosa Saba, The Canadian Press on April 17th, 2023
TORONTO – Canada’s main stock index posted a small gain to start the week while U.S. markets also rose in the latter half of the afternoon after sagging for most of the day. Monday was a benign trading day with investors in “wait and see” mode, said Kevin Headland, chief investment strategist at Manulife Investment ... Read More »
Be the first to comment!CBC ‘pausing’ its use of Twitter after ‘government-funded media’ label applied
By The Canadian Press on April 17th, 2023
TORONTO – CBC/Radio-Canada says it is “pausing” its use of Twitter, a day after its main account was labelled “government-funded media” by the social media platform. In a tweet announcing the pause, the public broadcaster says its journalism is impartial and independent and to suggest otherwise is untrue. CBC has not tweeted from its main ... Read More »
Be the first to comment!EllisDon CEO Geoff Smith stepping down in June, Kieran Hawe named next CEO
By The Canadian Press on April 17th, 2023
MISSISSAUGA, Ont. – Construction company EllisDon says Geoff Smith will step down as president and chief executive in June. The company says he will be replaced by Kieran Hawe, EllisDon’s current chief operating officer, construction. Smith will continue to serve on the company’s board of directors as executive chair, and will continue to be responsible ... Read More »
Be the first to comment!Macron says he hears people anger but pension law was needed
By Sylvie Corbet, The Associated Press on April 17th, 2023
PARIS (AP) – French President Emmanuel Macron said Monday that he heard people’s anger over raising the retirement age from 62 to 64, but insisted that it was needed to keep the pension system afloat as the population ages. In an televised address to the nation, Macron said “this changes were needed to guarantee everyone’s ... Read More »
Be the first to comment!Macron addresses France amid anger over pension reform
By Sylvie Corbet, The Associated Press on April 17th, 2023
PARIS (AP) – French President Emmanuel Macron said Monday that he heard people’s anger over raising the retirement age from 62 to 64, but insisted that it was needed. In an televised address to the nation, Macron said “this changes were needed to guarantee everyone’s pension,” after he enacted the pension law on Saturday. “Gradually ... Read More »
Be the first to comment!Home Capital deal to be bought by Smith Financial clears key regulatory hurdle
By The Canadian Press on April 17th, 2023
TORONTO – Home Capital Group Inc. says its deal to be acquired by Smith Financial Corp. has cleared a key regulatory hurdle. The mortgage lender says the Commissioner of Competition has issued a “no-action letter” in respect to the deal that values the company at $1.7 billion. Smith Financial announced in November 2022 that it ... Read More »
Be the first to comment!Magna to engineer and build off-road electric vehicle for industrial group Ineos
By The Canadian Press on April 17th, 2023
Magna International Inc. says it will engineer and build electric off-road vehicles for U.K.-based industrial conglomerate Ineos Group Ltd. Aurora, Ont.-based Magna says the contract will see it produce the vehicles at its facility in Graz, Austria with a 2026 expected start. Magna began working with Ineos in 2018 to engineer its first vehicle, a ... Read More »
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