Business
Scotiabank reports $2.09B Q4 profit, down from $2.56B a year ago
By The Canadian Press on November 29th, 2022
TORONTO – Scotiabank reported fourth-quarter net income of $2.09 billion, down from $2.56 billion in the same quarter last year. The bank says the profit amounted to $1.63 per diluted share for the quarter ended Oct. 31, down from $1.97 per diluted share a year earlier. Revenue for the quarter totalled $7.63 billion, down from ... Read More »
Be the first to comment!Statistics Canada to release third quarter GDP data today
By The Canadian Press on November 29th, 2022
OTTAWA – Statistics Canada will release its latest reading on economic growth this morning. The federal agency is scheduled to release gross domestic product figures for September and the third quarter. Statistics Canada’s preliminary estimate for the third quarter suggests the economy grew by 0.4 per cent. That’s in contrast to 0.8 per cent growth ... Read More »
Be the first to comment!Biden calls on Congress to head off potential rail strike
By Josh Funk, The Associated Press on November 28th, 2022
OMAHA, Neb. (AP) – President Joe Biden on Monday called on Congress to pass legislation to intervene and block a railroad strike before next month’s deadline in the stalled contract talks. Biden said a tentative agreement approved in September provided a pay raise for workers, health care benefits and a better leave policy. But talks ... Read More »
1 responseManitoba suspends new cryptocurrency operations, citing high energy demand
By The Canadian Press on November 28th, 2022
WINNIPEG – The Manitoba government is temporarily halting any new connections of cryptocurrency operations to the hydroelectric grid. Finance Minister Cameron Friesen, the minister responsible for Crown-owned Manitoba Hydro, says there will be an 18-month pause pending a review of the industry’s energy demands. The technology that underpins cryptocurrencies – blockchain – requires a large ... Read More »
1 responseLiberals did not show fiscal restraint in fall update: parliamentary budget officer
By The Canadian Press on November 28th, 2022
OTTAWA – Parliamentary budget officer Yves Giroux says the federal government did not show fiscal restraint in its recent fall economic statement. Giroux told MPs at a House of Commons finance committee that the federal government is spending a significant portion of the new fiscal room it has this year. High inflation and the COVID-19 ... Read More »
1 responseCN names Edmond Harris new executive vice-president and chief operating officer
By The Canadian Press on November 28th, 2022
MONTREAL – Canadian National Railway Co. says Edmond Harris will be its new executive vice-president and chief operating officer. The Montreal-based rail company says Harris will succeed Rob Reilly effective immediately. CN president and CEO Tracy Robinson said in a statement that Harris will provide leadership and experience as CN moves into the next phase ... Read More »
1 responseTD-Canada Post lending program paused after suspicious activity detected
By The Canadian Press on November 28th, 2022
TORONTO – TD Bank Group says it paused the MyMoney lending program it recently launched with Canada Post after it detected suspicious activity on its system. Spokeswoman Amy Thompson says processing was affected when the bank’s security system noticed “early warning signs of irregular activities” and the bank decided to pause the program to investigate. ... Read More »
1 responseS&P/TSX composite down on oil pessimism, U.S. markets fall further
By The Canadian Press on November 28th, 2022
TORONTO – Canada’s main stock index was down by more than 150 points or 0.8 per cent Monday, weighed down by losses in energy, financials, utilities and metals, while U.S. indexes tumbled by more than 1.5 per cent. The S&P/TSX composite index was down 163.28 points at 20,220.49. In New York, the Dow Jones industrial ... Read More »
Be the first to comment!US stock indexes fall as lockdown protests spread in China
By Damian J. Troise And Alex Veiga, The Associated Press on November 28th, 2022
NEW YORK – Stocks fell broadly on Wall Street as protests spread in China calling for President Xi Jinping to step down amid growing anger over severe restrictions imposed as part of his “zero COVID” strategy in the world’s second-largest economy. The S&P 500 and the Dow Jones Industrial Average each lost 1.5%, and the ... Read More »
Be the first to comment!Line 5 shutdown ‘draconian,’ both sides must consider ‘imperfect’ alternatives: judge
By The Canadian Press on November 28th, 2022
WASHINGTON – A judge in Wisconsin is ordering Enbridge Inc. and an Indigenous band to confer about “imperfect” alternatives to shutting down the cross-border Line 5 pipeline. District Court Judge William Conley calls the prospect of shutting off the line “draconian” and wants Enbridge and the Bad River Band of the Lake Superior Chippewa to ... Read More »
Be the first to comment!Freedom Mobile under Videotron would be effective competitor, tribunal hears
By The Canadian Press on November 28th, 2022
OTTAWA – A wireless communications specialist says Freedom Mobile under Videotron Ltd. would be a strong competitor in the telecom market as the hearing on Rogers Communications Inc.’s $26-billion proposed takeover of Shaw Communications Inc. continued. William Webb, chief technology officer at Access Partnership and a Shaw witness, told the Competition Tribunal Monday that Freedom ... Read More »
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