Business
S&P/TSX composite ekes out gain, U.S. stock markets down after inflation data
By Rosa Saba, The Canadian Press on April 12th, 2023
TORONTO – Canada’s main stock index eked out a gain Wednesday, while U.S. markets slumped later in the day to post small losses on the heels of fresh inflation data. The S&P/TSX composite index was up 32.47 points at 20,454.32. In New York, the Dow Jones industrial average was down 38.29 points at 33,646.50.The S&P ... Read More »
Be the first to comment!WestJet says third parties should share compensation costs after flight delays
By The Canadian Press on April 12th, 2023
CALGARY – The CEO of WestJet Airlines says his company is asking the federal government to allow airlines to recover passenger compensation costs from other industry partners, if they played a role in causing flight delays or disruptions. Under the current air passenger bill of rights framework, airlines are the only party required to compensate ... Read More »
Be the first to comment!Muskrat Falls hydroelectric project in N.L. considered commissioned: CEO
By The Canadian Press on April 12th, 2023
ST. JOHN’S, N.L. – Newfoundland and Labrador’s Muskrat Falls hydroelectric project is considered commissioned after years of delays and billions of dollars in cost overruns. Jennifer Williams, CEO of Newfoundland and Labrador Hydro, made the announcement today to reporters in St. John’s following a weekend of successful final testing. She says the project will be ... Read More »
Be the first to comment!Judge considers probe of whether Fox News withheld evidence
By Randall Chase, The Associated Press on April 12th, 2023
WILMINGTON, Del. (AP) – The judge presiding over a defamation case against Fox News said Wednesday he likely will order an independent review to determine whether the network improperly withheld evidence, a step that could lead to sanctions. The move by Delaware Superior Court Judge Eric Davis came amid a burst of fresh revelations in ... Read More »
Be the first to comment!Laurentian Bank plans high-interest online savings account as part of digital push
By Stéphane Rolland, The Canadian Press on April 12th, 2023
MONTREAL – Laurentian Bank is preparing a digital push, including a high-interest online savings account, as it looks to attract more deposits and reach customers outside Quebec. Rania Llewellyn, the bank’s president and CEO, said the Montreal-based bank is executing on its strategic plan and is changing processes that used to require customers physically go ... Read More »
Be the first to comment!Bank turmoil led Fed officials to forecast fewer rate hikes
By Christopher Rugaber, The Associated Press on April 12th, 2023
WASHINGTON (AP) – Turmoil in the banking system after two major banks collapsed led many Federal Reserve officials to envision fewer rate increases this year out of concern that banks will reduce their lending and weaken the economy. The uncertainty stemming from the banking sector also helped Fed officials coalesce around their decision to raise ... Read More »
Be the first to comment!Rogers CEO pledges to work with rival companies to provide TTC cell service
By The Canadian Press on April 12th, 2023
TORONTO – Rogers Communications Inc. president and CEO Tony Staffieri says his company will not attempt to prevent any of its rivals from offering cellphone service to their customers on Toronto’s subway system once Rogers takes control of the wireless infrastructure. Speaking Wednesday at a lunch hosted by Canadian Club Toronto, Staffieri pledged the network ... Read More »
Be the first to comment!Beware risk of ‘mutually sabotaging competition’ on corporate subsidies: Freeland
By The Canadian Press on April 12th, 2023
WASHINGTON – Finance Minister Chrystia Freeland is warning of the dangers of a global “race to the bottom” as government spending fuels the growth of the new green economy. Freeland issued the “polite reminder” today during a speech hosted by the Peterson Institute for International Economics in Washington, D.C. She prefaced her warning by heaping ... Read More »
Be the first to comment!Interest rate hold could add heat to real estate markets: mortgage experts
By The Canadian Press on April 12th, 2023
TORONTO – Mortgage experts expect the Bank of Canada’s decision to hold its key interest rate to add heat to the country’s real estate markets. They say the second consecutive hold since rates started climbing in March 2022 will likely give buyers and sellers more confidence to make a purchase soon. Victor Tran of mortgage ... Read More »
Be the first to comment!Bank of Canada holds key interest rate at 4.5%, says no plans to cut soon
By The Canadian Press on April 12th, 2023
OTTAWA – The Bank of Canada held its key interest rate steady at and telegraphed that it may need to keep rates higher for longer as the effects of tighter borrowing conditions continue to ripple through the economy. The central bank also released a new economic forecast Wednesday and said recent data has reinforced its ... Read More »
Be the first to comment!Tech and industrial stocks help boost S&P/TSX composite, U.S. stock markets mixed
By The Canadian Press on April 12th, 2023
TORONTO – Strength in technology and industrial stocks helped Canada’s main stock index climb higher in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 87.29 points at 20,509.14. In New York, the Dow Jones industrial average was up 10.19 points at 33,694.98. The S&P 500 index was down 4.71 ... Read More »
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