Business
NPR quits Elon Musk’s Twitter over ‘government-funded’ label
By The Associated Press on April 12th, 2023
WASHINGTON (AP) – National Public Radio is quitting Twitter over the social media company’s recent actions under owner Elon Musk to stamp it with labels the news organization says are meant to undermine its credibility. “NPR’s organizational accounts will no longer be active on Twitter because the platform is taking actions that undermine our credibility ... Read More »
Be the first to comment!Text of Bank of Canada’s rate announcement statement
By The Canadian Press on April 12th, 2023
OTTAWA – The Bank of Canada kept its key interest rate target on hold at 4.5 per cent on Wednesday. Here is the text of the central bank’s rate announcement: The Bank of Canada today held its target for the overnight rate at 4.5 per cent, with the Bank Rate at 4.75 per cent and ... Read More »
Be the first to comment!RoboCop? No, RoboDog: Robotic dog rejoins New York police
By Karen Matthews, The Associated Press on April 12th, 2023
NEW YORK (AP) – New York City officials unveiled three new high-tech policing devices Tuesday, including a robotic dog that critics called creepy when it first joined the police pack 2 1/2 years ago. The new devices, which also include a GPS tracker for stolen cars and a cone-shaped security robot, will be rolled out ... Read More »
Be the first to comment!Bank of Canada holds key interest rate at 4.5%, bumps up growth forecast for 2023
By The Canadian Press on April 12th, 2023
OTTAWA – The Bank of Canada announced today that it will continue to hold its key interest rate steady at 4.5 per cent, as was widely anticipated by economists. The central bank says recent data is reinforcing its confidence that inflation will continue to fall in the coming months. Canada’s annual inflation rate fell to ... Read More »
Be the first to comment!Cineplex doesn’t expect to recoup any material amount of the $1.24B owed by Cineworld
By The Canadian Press on April 12th, 2023
TORONTO – Cineplex Inc. says it does not expect to recover any material amount from U.K.-based Cineworld Group PLC, its once-suitor which owes the Toronto movie theatre chain $1.24 billion. U.K.-based Cineworld entered into a restructuring agreement with some of its lenders last week and filed a proposed Chapter 11 plan of reorganization Tuesday. If ... Read More »
Be the first to comment!Cheaper gas and food provide some relief from US inflation
By Christopher Rugaber, The Associated Press on April 12th, 2023
WASHINGTON (AP) – U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices for nearly two years. The government said Wednesday that consumer prices rose just 0.1% from February to March, down from 0.4% from January to February and ... Read More »
Be the first to comment!Inflation slows but stays high enough for Fed to hike again
By Christopher Rugaber, The Associated Press on April 12th, 2023
WASHINGTON (AP) – U.S. consumer inflation eased in March, with less expensive gas and lower food prices providing some relief to households that have struggled under the weight of surging prices for nearly two years. The government said Wednesday that consumer prices rose just 0.1% from February to March, down from 0.4% from January to ... Read More »
Be the first to comment!Brookfield Infrastructure to buy freight container company Triton International
By The Canadian Press on April 12th, 2023
TORONTO – Brookfield Infrastructure Partners LP and its institutional partners have signed a deal to acquire freight container leasing company Triton International Ltd. for about US$4.7 billion in cash and shares. Under the deal, Brookfield Infrastructure will pay US$85 per Triton common share including US$68.50 in cash and US$16.50 in Brookfield Infrastructure Corp. class A ... Read More »
Be the first to comment!MTY Food Group reports Q1 profit up, acquisitions help revenue more than double
By The Canadian Press on April 12th, 2023
MONTREAL – MTY Food Group Inc. reported a first-quarter profit of $18.4 million, up from $16.6 million a year earlier, as acquisitions helped its revenue to more than double. The restaurant franchisor says its profit amounted to 75 cents per diluted share for the quarter ended Feb. 28, up from 68 cents per diluted share ... Read More »
Be the first to comment!Grocery’s power imbalance has politicians, shoppers questioning rising prices
By Brett Bundale, The Canadian Press on April 12th, 2023
Whether you’re catching a flight, opening a new bank account or picking up groceries, a small group of big names takes up most of the market share. Competition Ltd. is a Canadian Press series that explores what this means for products – and prices – in the country. – – – The flyer for the ... Read More »
Be the first to comment!Bank of Canada expected to hold key interest rate steady at 4.5% today
By The Canadian Press on April 12th, 2023
OTTAWA – The Bank of Canada is set to announce its interest rate decision this morning. Economists widely anticipate the central bank will continue to hold its key interest rate steady at 4.5 per cent, even as the economy is running hotter than expected. Despite elevated interest rates, the economy continued to grow at the ... Read More »
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