Business
Russia, Ukraine extend grain deal to aid world’s poor
By The Associated Press on March 18th, 2023
KYIV, Ukraine (AP) – Turkish President Recep Tayyip Erdogan and Ukrainian officials said Saturday that an unprecedented wartime deal that allows grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat and high food prices are pushing more people into poverty has been extended. Ukrainian ... Read More »
Be the first to comment!Nestlé Good Start Soothe Infant Formula recalled for potential bacteria contamination
By The Canadian Press on March 18th, 2023
A voluntary recall has been issued for one sku of Nestlé Good Start Soothe Infant Formula due to a potential bacteria contamination. Distributor Perrigo Company says the product is being recalled out of an abundance of caution due to the potential presence of Cronobacter sakazakii. The affected formula was sold across Canada in 942 gram ... Read More »
Be the first to comment!Luc Bertrand to helm board of TMX Group, replacing Charles Winograd
By The Canadian Press on March 17th, 2023
TORONTO – TMX Group Ltd. says it intends to appoints Luc Bertrand as the new chair of the company’s board starting May 2. Upon Bertrand’s election as an independent director at the company’s annual and special meeting, Bertrand will replace Charles Winograd, who will retire after serving as chair for more than a decade. The ... Read More »
1 responseS&P/TSX down Friday as markets continue to grapple with bank collapses
By Rosa Saba, The Canadian Press on March 17th, 2023
TORONTO – Canada’s main stock index closed down over 150 points Friday, with U.S. indexes also posting losses, as the globe continued to grapple with a crisis of confidence in the financial system triggered by two U.S. bank failures. “This crisis was a bit of a sucker-punch to the market,” said Pierre-Benoît Gauthier, assistant vice-president ... Read More »
1 responseHaaland criticized over ‘difficult’ choice on Willow project
By Matthew Daly, The Associated Press on March 17th, 2023
WASHINGTON (AP) – In early March, President Joe Biden met with members of Alaska’s bipartisan congressional delegation as they implored him to approve a contentious oil drilling project in their state. Around the same time, Interior Secretary Deb Haaland held a very different meeting on the same topic. Gathering at Interior headquarters a half-mile (0.8 ... Read More »
1 responseSpanish company drops LNG terminal in New Brunswick citing high costs to ship gas
By The Canadian Press on March 17th, 2023
FREDERICTON – The Spanish company behind a proposal to export liquefied natural gas to Europe through a terminal in Saint John, N.B., says it will not go ahead with the project because the costs are too high. New Brunswick Premier Blaine Higgs says he is disappointed by Repsol’s decision to drop the project but not ... Read More »
1 responseMarkets slump Friday as investors grapple with banking fallout, rate uncertainty
By Rosa Saba, The Canadian Press on March 17th, 2023
TORONTO – Financial markets have flip-flopped all week as a global crisis in confidence over the banking sector has led to a dramatic shift in expectations for central banks’ fight against inflation, and has made a recession more likely. The S&P/TSX Composite was down by less than one per cent at mid-afternoon on Friday, weighed ... Read More »
1 responseBanking complaints agencies report record numbers for 2022
By The Canadian Press on March 17th, 2023
TORONTO – Canada’s two banking complaints agencies say there were a record number of inquiries and cases opened last year. The Ombudsman for Banking Services and Investments (OBSI) says banking inquiries were up 56 per cent and the number of banking cases it opened was up 33 per cent, while the ADR Chambers Banking Ombuds ... Read More »
Be the first to comment!CP Rail, Kansas City Southern Rail to combine next month after U.S. approval
By Christopher Reynolds, The Canadian Press on March 17th, 2023
MONTREAL – Canadian Pacific Railway Ltd. has announced it will officially combine with Kansas City Southern Railway Co. on April 14, under the new banner of Canadian Pacific Kansas City. The U.S. rail regulator approved the US$31-billion this week, clearing the final hurdle in CP’s bid to buy KCS and create the only railway stretching ... Read More »
Be the first to comment!Markets slump Friday as investors grapple with banking fallout and rate uncertainty
By The Canadian Press on March 17th, 2023
TORONTO – Financial markets have flip-flopped all week as a global crisis in confidence over the banking sector has led to a dramatic shift in expectations for central banks’ fight against inflation, and has made a recession more likely. After the closures of Silicon Valley Bank and Signature Bank in the United States last weekend, ... Read More »
Be the first to comment!Biden calls for tougher penalties for execs of failed banks
By Zeke Miller, The Associated Press on March 17th, 2023
WASHINGTON (AP) – President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry. Biden wants the Federal Deposit Insurance Corporation to be able to force the return of ... Read More »
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