Business
In Newfoundland, ‘commissioning’ of troubled hydro dam met with skepticism, unease
By Sarah Smellie, The Canadian Press on April 14th, 2023
ST. JOHN’S, N.L. – Though Muskrat Falls has weighed heavily on Newfoundland and Labrador’s finances and residents’ morale, reaction was surprisingly muted to an announcement this week that the project is finally considered to be in working order. The project is years overdue and billions over budget, but Newfoundland and Labrador Hydro CEO Jennifer Williams’ ... Read More »
Be the first to comment!Low unemployment could boost trend of union organizing in retail, service: experts
By Rosa Saba, The Canadian Press on April 14th, 2023
With Canada’s unemployment rate holding near record lows, experts say an increased interest in unions among retail and service workers that began during the COVID-19 pandemic will continue – even as workers face an uphill battle against large, powerful employers. The pandemic was a catalyst for many frontline workers, who union organizers say were spurred ... Read More »
Be the first to comment!Olymel to close pork plant in Vallée-Jonction, Que., lay off nearly 1,000 workers
By The Canadian Press on April 14th, 2023
MONTREAL – Quebec pork producer Olymel says it will close a major slaughterhouse south of Quebec City and lay off 994 workers. The company said today the Vallée-Jonction plant in the Beauce region will be the latest factory to shutter, after previously announcing the closure of several other facilities in recent months. Olymel CEO Yanick ... Read More »
Be the first to comment!Average home price to end the year 4.8% lower than 2022, will rise 4.7% in 2024: CREA
By Tara Deschamps, The Canadian Press on April 14th, 2023
The Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024. The association’s prediction revealed Friday amounts to an average price of $670,389 this year and $702,214 next year, when prices are ... Read More »
Be the first to comment!Supreme Court asked to preserve abortion pill access rules
By Mark Sherman And Jessica Gresko, The Associated Press on April 14th, 2023
WASHINGTON (AP) – A drug manufacturer asked the Supreme Court on Friday to preserve access to its abortion drug free from restrictions imposed by lower court rulings, while a legal fight continues. Danco Laboratories filed its emergency request with the high court less than two days after an appeals court ruling in a case from ... Read More »
Be the first to comment!CP Rail, Kansas City Southern Rail merger now official
By The Canadian Press on April 14th, 2023
CALGARY – The merger of Canadian Pacific Railway Ltd. with Kansas City Southern Railway Co. is now official. The fusion, under the banner of Canadian Pacific Kansas City, marks the continent’s first major railroad rail merger in more than two decades. It combines the two smallest of North America’s seven Class 1 railroads, after the ... Read More »
Be the first to comment!Average home price to end the year 4.8% lower than 2022, will rise 4.7% in 2023: CREA
By The Canadian Press on April 14th, 2023
OTTAWA – The Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024. The association’s prediction amounts to an average price of $670,389 this year and $702,214 next year, when prices are ... Read More »
Be the first to comment!Statistics Canada says manufacturing sales down 3.6% in February
By The Canadian Press on April 14th, 2023
OTTAWA – Statistics Canada says manufacturing sales fell 3.6 per cent to $71.5 billion in February, as sales of petroleum and coal products helped lead the drop. The agency says the decline followed a revised 4.5 per cent increase in January. The initial reading for the first month of the year had been for a ... Read More »
Be the first to comment!Canadian Pacific and KCS officially combine under Canadian Pacific Kansas City banner
By The Canadian Press on April 14th, 2023
CALGARY – Canadian Pacific Railway Ltd. and Kansas City Southern have officially combined to create Canadian Pacific Kansas City. CP completed its US$31-billion acquisition of KCS in December 2021, but placed the KCS shares into a voting trust, which ensured the U.S. railway operated independently during a regulatory review. The U.S. Surface Transportation Board gave ... Read More »
Be the first to comment!‘A reflection’: Stampede tarp auction an indicator of Alberta’s booming economy
By Bill Graveland, The Canadian Press on April 13th, 2023
CALGARY – The amount of money that was flowing freely at the annual Calgary Stampede canvas auction Thursday night was just the sort of gusher that Alberta’s oil and gas industry likes to see. The event is typically considered a bellwether for Alberta’s energy industry, as many sponsors that pay to have their company names ... Read More »
Be the first to comment!Reitmans sees sales rise, earnings decline in fourth quarter and fiscal year
By The Canadian Press on April 13th, 2023
MONTREAL – Reitmans (Canada) Ltd. says it saw sales rise in its fourth quarter and full fiscal year, while net earnings were down. The Montreal-based retailer says sales for the fourth quarter of fiscal 2023 increased by 11.4 per cent to $211.9 million, while sales for the full year rose 20.9 per cent to $800.6 ... Read More »
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