Business
Stocks rally on Wall Street as bank fears ease further
By Stan Choe, The Associated Press on March 29th, 2023
NEW YORK (AP) – Stocks rallied as Wall Street shook off more of the fear that dominated it earlier this month. The S&P 500 rose 1.4% Wednesday. The Dow Jones Industrial Average rose 1% and the Nasdaq composite rose 1.8%. They followed similar gains in other markets around the world. A measure of nervousness among ... Read More »
Be the first to comment!Budget measures unlikely enough to spur major carbon capture investments: Experts
By Amanda Stephenson, The Canadian Press on March 29th, 2023
CALGARY – A question mark continues to hang over the future of carbon capture and storage projects in Canada, in spite of a pledge in Tuesday’s federal budget to deliver more investment certainty for major emissions-reducing projects. “Look, we have set some very aggressive climate targets in Canada. You can’t kick the can down the ... Read More »
Be the first to comment!Businesses praise credit card fee relief but consumers savings not guaranteed
By Sammy Hudes, The Canadian Press on March 29th, 2023
Small business owners are praising a measure in the federal budget to lower credit card interchange fees, but some industry representatives argued the move will do little to save costs for consumers. Ottawa announced it has reached deals with Visa and Mastercard to lower such fees by up to 27 per cent from their current ... Read More »
Be the first to comment!$264M offered in Gulf oil sale held under climate compromise
By Kevin Mcgill And Matthew Brown, The Associated Press on March 29th, 2023
NEW ORLEANS (AP) – Oil companies offered a combined $264 million for drilling rights in the Gulf of Mexico on Wednesday in a sale mandated by last year’s climate bill compromise. The auction was the first in the Gulf in more than a year and drew interest from industry giants including ExxonMobil, Shell and Chevron. ... Read More »
Be the first to comment!Saskatchewan to spend $6 million for some hip and knee surgeries in Calgary
By The Canadian Press on March 29th, 2023
REGINA – The Saskatchewan government is to spend up to $6 million to send patients to Calgary for hip and knee surgeries. An agreement made public today shows the province is to work with private provider Canadian Surgical Solutions. Health Minister Paul Merriman has said the surgeries are publicly funded but the province won’t pay ... Read More »
Be the first to comment!Bank of Canada watching for potential spillovers from global banking stresses
By The Canadian Press on March 29th, 2023
MONTREAL – A senior Bank of Canada official says the central bank is keeping a close eye on the stresses to the global banking system ahead of its next interest rate decision and monetary policy report in April. In a speech to the National Bank financial services conference, Bank of Canada deputy governor Toni Gravelle ... Read More »
Be the first to comment!With no end to federal deficits in sight, budget spells dismay for some economists
By The Canadian Press on March 29th, 2023
OTTAWA – The federal Liberals’ latest budget announced new spending primarily on the clean economy and health care, but even with that relatively tight focus, the federal government is projected to continue running deficits over the next five years. Many economists are expressing disappointment in the federal budget and its fiscal projections, noting the government ... Read More »
Be the first to comment!Mortgage moves ‘good news’ for borrowers, but budget lacks housing support: experts
By The Canadian Press on March 29th, 2023
TORONTO – Real estate observers say a new mortgage code of conduct promised in the federal budget will be handy for Canadians facing financial difficulties, but they still feel the economic plan was lacking needed housing affordability measures. The code of conduct is meant to ensure federally-regulated financial institutions will provide fair and equitable access ... Read More »
Be the first to comment!Budget 2023 unlikely to be enough to spur major carbon capture investments: Experts
By The Canadian Press on March 29th, 2023
CALGARY – Industry watchers say Tuesday’s federal budget likely won’t be enough to convince Canadian oil and gas companies to pull the trigger on expensive, emissions-reducing carbon capture and storage projects. The oil and gas industry believes carbon capture and storage technology is the key to meeting its greenhouse gas emissions reduction targets. Companies have ... Read More »
Be the first to comment!$263 million offered for Gulf oil under climate compromise
By Kevin Mcgill And Matthew Brown, The Associated Press on March 29th, 2023
NEW ORLEANS (AP) – Oil companies offered a combined $264 million for drilling rights in the Gulf of Mexico on Wednesday in a sale mandated by last year’s climate bill compromise. The auction was the first in the Gulf in more than a year and drew interest from industry giants including ExxonMobil, Shell and Chevron. ... Read More »
Be the first to comment!Businesses praise budget’s credit card fee relief but some question consumer savings
By The Canadian Press on March 29th, 2023
OTTAWA – Small business owners are praising a measure in Tuesday’s federal budget to lower credit card interchange fees, but some industry representatives argue the move will do little to save money for consumers. Ottawa says it reached deals with Visa and Mastercard to lower such fees by up to 27 per cent from their ... Read More »
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