Business
S&P/TSX composite edges lower in late-morning trading, U.S. stocks mixed
By The Canadian Press on February 7th, 2023
TORONTO – Canada’s main stock index edged lower in late-morning trading as losses in the technology and utility sectors helped to more than offset gains in energy stocks, while U.S. stock markets were mixed. The S&P/TSX composite index was down 4.23 points at 20,624.69. In New York, the Dow Jones industrial average was down 120.45 ... Read More »
Be the first to comment!Canadian business insolvencies up 37.2% in 2022, consumer insolvencies up 11.2%
By The Canadian Press on February 7th, 2023
OTTAWA – The number of insolvencies filed by Canadian businesses in 2022 was up 37.2 per cent compared with 2021. The Office of the Superintendent of Bankruptcy says there were 3,402 business insolvencies last year, up from 2,480 in 2021. Business bankruptcies totalled 2,621 for the year, up from 1,942, while proposals filed by businesses ... Read More »
Be the first to comment!One-third of households say they’re financially worse off compared to year ago: poll
By The Canadian Press on February 7th, 2023
OTTAWA – A new poll finds one-third of Canadian households say their financial situation has worsened over the last year. According to a Leger poll commissioned by the Association for Canadian Studies, 34 per cent of Canadian households say they’re financially worse off compared with a year ago. The majority of respondents, 58 per cent, ... Read More »
1 responseLuxury parka maker Canada Goose to expand into eyewear, luggage and home categories
By The Canadian Press on February 7th, 2023
TORONTO – Canada Goose Holdings Inc. says it plans to build its customer base with a focus on women and generation Z and expand into new product categories like eyewear, luggage and home as it charts a new five-year growth path. In a financial outlook and strategic plan released Tuesday, the company says it also ... Read More »
1 responseAspiring pilots say licence processing backlogs at Transport Canada slowing careers
By Amanda Stephenson, The Canadian Press on February 7th, 2023
CALGARY – Against the backdrop of a global pilot shortage, hopefuls aspiring to a career in the skies say their Canadian licensing applications are taking far too long to process. Student pilots who have completed the training requirements for their private or commercial pilots’ licences say their credentials are being delayed due to what they ... Read More »
1 responseWhat to know about investing with your student line of credit
By Pascale Malenfant, The Canadian Press on February 7th, 2023
MONTREAL – When Pablo Mhanna-Sandoval received his offer of admission for law school in the spring of 2022, he immediately started securing a student line of credit. “I initially took out a line of credit as an insurance to make sure I had some liquidity down the line in the last two years of my ... Read More »
1 responseStocks open mostly lower on Wall Street, except for tech
By Joe Mcdonald And Matt Ott, The Associated Press on February 7th, 2023
NEW YORK (AP) – Stocks are opening mostly lower on Wall Street, but gains in some tech stocks were pushing the Nasdaq barely higher. The S&P 500 index fell 0.2% in the early going Tuesday and the Dow Jones Industrial Average fell 0.4%. A solid gain in Microsoft nudged the Nasdaq up 0.1%. Treasury yields ... Read More »
1 responseCrypto company Hut 8 Mining signs deal to merge with US Bitcoin
By The Canadian Press on February 7th, 2023
TORONTO – Canadian cryptocurrency company Hut 8 Mining Corp. says it has signed a deal to merge with U.S. Data Mining Group Inc., the company behind US Bitcoin Corp. Under the agreement, the combined company will be named Hut 8 Corp. and will be an U.S.-domiciled company. The deal will see shareholders of Hut 8 ... Read More »
Be the first to comment!Statistics Canada reports merchandise trade deficit $160 million in December
By The Canadian Press on February 7th, 2023
OTTAWA – Statistics Canada says the country posted a merchandise trade deficit of $160 million in December as both exports and imports fell compared with November. The result followed a revised deficit of $219 million for November compared with an initial reading for the month that showed a $41 million deficit. Statistics Canada says exports ... Read More »
1 responseToy company Spin Master reports Q4 revenue down from year ago
By The Canadian Press on February 7th, 2023
TORONTO – Spin Master Corp. says its preliminary fourth-quarter revenue totalled US$465.8 million, down from US$620.5 million a year earlier. The toy company, which keeps its books in U.S. dollars, says toy revenue for the quarter totalled US$396.7 million, down from US$542.0 million, while entertainment revenue amounted to US$31.2 million, up from US$28.5 million. Digital ... Read More »
1 responseCineplex reports $10.2M Q4 profit compared with $21.8M loss a year earlier
By The Canadian Press on February 7th, 2023
TORONTO – Cineplex Inc. reported a profit of $10.2 million in its fourth quarter compared with a loss of $21.8 million a year earlier as its revenue increased more than 15 per cent. The movie theatre company says its net profit amounted to 16 cents per diluted share for the quarter ended Dec. 31 compared ... Read More »
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