Business
Toy company Spin Master behind powerhouse brands like Paw Patrol sees Q4 revenue drop
By The Canadian Press on February 7th, 2023
TORONTO – Toy maker Spin Master Corp. recorded a drop in revenue in its latest quarter after stores ordered inventory early to avoid supply shortages and high inflation took a toll on demand later in the year. Spin Master CEO and global president Max Rangel said Tuesday the company had an “exceptionally strong” first half ... Read More »
Be the first to comment!Cineplex lowers ticket prices for ’80 For Brady’ but CEO says it’s an ‘experiment’
By David Friend, The Canadian Press on February 7th, 2023
TORONTO – The head of Cineplex Inc. says he’s open to more experiments with ticket prices after charging less to see “80 For Brady” at its movie theatres proved a success on the opening weekend. Chief executive Ellis Jacob told The Canadian Press it might make sense to lower the cost of movie tickets in ... Read More »
Be the first to comment!Stocks drift after Fed cites long road ahead on inflation
By Stan Choe, The Associated Press on February 7th, 2023
NEW YORK (AP) – Stocks are drifting after Federal Reserve Chair Jerome Powell said progress is being made in the fight against inflation even after a stunningly strong jobs report last week, though a long battle remains. The S&P 500 was moving between small gains and losses in afternoon trading, after spiking briefly to a ... Read More »
Be the first to comment!Fed’s Powell: Strong hiring could force further rate hikes
By Christopher Rugaber, The Associated Press on February 7th, 2023
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that if the job market further strengthens in the coming months or inflation readings accelerate, the Fed might have to raise its benchmark interest rate higher than it now projects. Powell’s remarks followed the government’s blockbuster report last week that employers added 517,000 jobs in ... Read More »
Be the first to comment!Stocks drift; Fed’s Powell sees long road ahead on inflation
By Stan Choe, The Associated Press on February 7th, 2023
NEW YORK (AP) – Stocks are mixed on Wall Street after the Federal Reserve’s head said he still sees progress being made against inflation, even after a stunningly strong jobs report last week. The S&P 500 was 0.3% lower Tuesday afternoon, after spiking briefly to a big gain and then losing it all as Fed ... Read More »
Be the first to comment!Fed Chair Powell sees ‘significant’ inflation drop in 2023
By Christopher Rugaber, The Associated Press on February 7th, 2023
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that last week’s blockbuster U.S. jobs report showed it would likely take time to curb high inflation but that he expects a “significant decline” in inflation this year. At the same time, Powell said the job market’s strength and the persistence of inflation pressures mean ... Read More »
Be the first to comment!Slowing growth a ‘good thing’ when economy is overheated: BoC’s Macklem
By The Canadian Press on February 7th, 2023
QUEBEC – Bank of Canada governor Tiff Macklem says that although a slowing economy may not seem like a good thing, it is when the economy is overheated. According to prepared remarks the governor is delivering to members of CFA Quebec in Quebec City today, Macklem says higher interest rates are working to cool the ... Read More »
Be the first to comment!UK energy giant BP’s profits double to $27.7 billion
By Danica Kirka, The Associated Press on February 7th, 2023
LONDON (AP) – British energy firm BP reported record annual earnings Tuesday, fueling demands that the U.K. government boost taxes for companies benefiting from the high price of oil and natural gas after Russia’s invasion of Ukraine. London-based BP said underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, ... Read More »
Be the first to comment!WestJet pilots at an ‘impasse’ with airline over contract talks: union
By The Canadian Press on February 7th, 2023
CALGARY – The union representing WestJet pilots says contract negotiations with the airline have been unproductive and federal arbitration may be needed to avert a strike. ALPA Canada, which represents approximately 1,800 pilots at WestJet and its low-cost subsidiary Swoop, says it has been negotiating with the Calgary-based company since September. It says the two ... Read More »
Be the first to comment!Luxury parka maker Canada Goose charts path to triple revenue in five years
By Brett Bundale, The Canadian Press on February 7th, 2023
Luxury outerwear maker Canada Goose Holdings Inc. has charted a new five-year growth path it says could nearly triple its annual revenue by 2028. The Canadian parka brand laid out an ambitious financial outlook and strategic plan on Tuesday that includes attracting more customers, adding new products and expanding into new markets. “We know how ... Read More »
Be the first to comment!Germany, Denmark, Netherlands pledge Ukraine Leopard 1 tanks
By Susie Blann, The Associated Press on February 7th, 2023
KYIV, Ukraine (AP) – Germany, Denmark and the Netherlands say they plan to provide Ukraine with at least 100 refurbished Leopard 1 battle tanks. The announcement Tuesday comes after Germany agreed last month to allow deliveries of the more modern Leopard 2 tanks to Ukraine. In a joint statement, the defense ministers of Denmark, Germany ... Read More »
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