Business
Credit Suisse deal halted crisis, Swiss central bank says
By Jamey Keaten And David Mchugh, The Associated Press on March 23rd, 2023
GENEVA (AP) – The Swiss central bank hiked its key interest rate Thursday and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil. In a statement, the Swiss National Bank said it is providing large amounts of support for the deal to merge Switzerland’s biggest banks and ... Read More »
Be the first to comment!Credit Suisse deal halted crisis, Swiss national bank says
By The Associated Press on March 23rd, 2023
The Swiss central bank hiked its key interest rate Thursday and insisted that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil. In a statement, the Swiss National Bank said it’s providing large amounts of support in Swiss francs and foreign currencies and that the Sunday announcement by the ... Read More »
Be the first to comment!Budget 2023 to detail crackdown on ‘junk fees’ for consumers: federal source
By Nojoud Al Mallees, The Canadian Press on March 23rd, 2023
OTTAWA – A federal source says the coming budget will detail how the Liberals plan to go after hidden or unexpected consumer fees, following the United States announcing its own crackdown on these charges. Often referred to as “junk fees,” they can include those tacked on to the initial price of a product or service ... Read More »
Be the first to comment!Ontario budget to bring ‘targeted investments’ but no more paid sick day program
By Allison Jones and Liam Casey, The Canadian Press on March 23rd, 2023
TORONTO – It’s budget day in Ontario and the finance minister says he’s prepared a plan with “targeted investments” to ensure the province’s economy stays resilient in the face of uncertainty. One investment that won’t be in the budget, however, is a sick day program. Government sources told The Canadian Press on the eve of ... Read More »
Be the first to comment!Asian shares mixed after Fed hints rate hikes may end soon
By Yuri Kageyama, The Associated Press on March 23rd, 2023
TOKYO (AP) – Asian shares were mixed Thursday after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching hikes to interest rates. The Fed raised its key overnight rate by a quarter of a percentage point, the same size as its last increase, in its campaign ... Read More »
Be the first to comment!Asian shares decline after Fed hints rate hikes may end soon
By Yuri Kageyama, The Associated Press on March 22nd, 2023
TOKYO (AP) – Asian shares were mostly lower Thursday after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching hikes to interest rates. The Fed raised its key overnight rate by a quarter of a percentage point, the same size as its last increase, in its ... Read More »
Be the first to comment!Lynx Air announces summer service between Toronto and Kelowna, Hamilton and Vancouver
By The Canadian Press on March 22nd, 2023
CALGARY – Budget airline Lynx Air announced it’s launching two new routes for the summer, one from Hamilton to Vancouver and one from Toronto to Kelowna, B.C. The Calgary-based airline says it will offer seasonal summer flights between Toronto Pearson International Airport and Kelowna International Airport starting April 13, and between Hamilton’s John C. Munroe ... Read More »
1 responsePaying down debt, money for health care: Highlights from the Saskatchewan budget
By The Canadian Press on March 22nd, 2023
REGINA – Saskatchewan Finance Minister Donna Harpauer tabled the province’s 2023-24 budget on Wednesday. Here are some of the highlights: — Forecast surplus of nearly $1 billion, with almost all going to pay down debt. — No new taxes and no tax increases. — Revenues of $19.7 billion, a 15 per cent increase from last ... Read More »
1 responseLiberals introduce legislation to create a corporate ownership registry
By The Canadian Press on March 22nd, 2023
OTTAWA – The federal Liberals are moving ahead with plans to create an ownership registry after promising to increase transparency about who owns and controls corporations. Industry Minister François-Philippe Champagne has tabled legislation that would create a corporate beneficial ownership registry. The prospective registry is expected to have the goal of making it easier to ... Read More »
1 responseSaskatchewan budget projects $1B surplus, more money for health care
By Jeremy Simes, The Canadian Press on March 22nd, 2023
REGINA – The Saskatchewan government projected a massive surplus in its budget Wednesday, with no new taxes and millions in new spending. The budget forecasts a $1-billion surplus, fuelled by higher non-renewable resource and taxation revenue, which Finance Minister Donna Harpauer said reflects “balanced management.” Harpauer said the government is to use much of the ... Read More »
1 responseS&P/TSX composite, U.S. markets down Wednesday after Federal Reserve hike
By The Canadian Press on March 22nd, 2023
TORONTO – Markets in Canada and the U.S. sank in the last hour of trading Wednesday, with U.S. markets down around 1.6 per cent after the Federal Reserve hiked interest rates. The S&P/TSX composite index was down 122.14 points at 19,532.78. In New York, the Dow Jones industrial average was down 530.49 points, or 1.6 ... Read More »
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