Business
Credit Suisse shares soar after announcing central bank aid
By Jamey Keaten And David Mchugh, The Associated Press on March 16th, 2023
GENEVA (AP) – Credit Suisse’s shares have soared 30% after it announced it will move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank. It’s a massive swing Thursday after its shares plunged 30% on the SIX stock exchange a day earlier after its biggest shareholder said ... Read More »
Be the first to comment!Japan, South Korea move forward on trade issue before summit
By Mari Yamaguchi, The Associated Press on March 16th, 2023
TOKYO (AP) – Japan and South Korea agreed on steps toward resolving a trade dispute that has been one of the strains the nations’ leaders aimed to resolve at a highly anticipated summit Thursday. Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol will meet later in the day in Tokyo in ... Read More »
Be the first to comment!Seoul: Japan agreed to lift export controls on South Korea
By Mari Yamaguchi, The Associated Press on March 16th, 2023
TOKYO (AP) – South Korea’s trade minster says Japan has agreed to lift its export controls on South Korea. Trade Minister Lee Chang-yang said Thursday that South Korea subsequently agreed to withdraw its WTO complaints over the Japanese curbs. Lee says the two countries reached the agreements during talks this week. The announcement came just ... Read More »
Be the first to comment!Alimentation Couche-Tard Inc. reports earnings of US$737M in third quarter
By The Canadian Press on March 15th, 2023
LAVAL, Que. – Alimentation Couche-Tard Inc. says it earned US$737.4 million in its third quarter ended Jan. 29, down 1.2 per cent from a year earlier. The Laval, Que.-based company says earnings per diluted share in the quarter were 73 cents, up from 70 cents a year earlier, while earnings for the financial year to ... Read More »
Be the first to comment!Oil prices plunge, Canadian energy stocks take beating as global banking fears spread
By The Canadian Press on March 15th, 2023
CALGARY – Crude oil prices took a beating Wednesday as market chaos related to a spreading banking crisis continued. The North American benchmark West Texas Intermediate plunged more than four per cent on Wednesday to hover around US$68 per barrel. That’s the lowest crude price since December of 2021. Oil prices have been falling all ... Read More »
Be the first to comment!S&P/TSX composite falls more than 300 points on bank fears, U.S. markets mixed
By Rosa Saba, The Canadian Press on March 15th, 2023
TORONTO – Canada’s main stock index sank Wednesday, pulled down by the energy and financial sectors as mounting apprehensions over the global banking sector spread, while U.S. markets were mixed as the tech sector held its own. The S&P/TSX composite index was down 315.32 points, or 1.6 per cent, at 19,378.84. In New York, the ... Read More »
Be the first to comment!Wall Street falls on new bank fears, bond yields plunge
By Stan Choe, The Associated Press on March 15th, 2023
NEW YORK (AP) – Stocks fell amid fresh worries about the banking sector, although Wall Street more than halved its losses by the closing bell. The S&P 500 closed with a decline of 0.7%. The Dow posted a slightly steeper drop, while the Nasdaq rose slightly thanks to late gains in tech shares. Treasury yields ... Read More »
Be the first to comment!Bank fears spread to Europe, drag down shares of big lenders
By Jamey Keaten And David Mchugh, The Associated Press on March 15th, 2023
GENEVA (AP) – Fears about the world banking system spread to Europe on Wednesday as shares in the globally connected Swiss bank Credit Suisse plunged and dragged down other major European lenders in the wake of bank failures in the United States. At one point, Credit Suisse shares lost more than a quarter of their ... Read More »
Be the first to comment!Regulator says Silicon Valley Bank’s Canadian assets being restructured
By The Canadian Press on March 15th, 2023
OTTAWA – Canada’s banking regulator says the Canadian branch of Silicon Valley Bank is being restructured in a way that will allow it to continue operations in the country. The Office of the Superintendent of Financial Institutions says it has taken permanent control of the failed bank’s Canadian assets and they will be transitioned to ... Read More »
Be the first to comment!French strike nationwide as garbage piles up over pensions
By Sylvie Corbet, The Associated Press on March 15th, 2023
PARIS (AP) – A joint committee of Senate and National Assembly lawmakers has validated French President Emmanuel Macron’s pension plan, meaning it could be submitted to votes by both houses of Parliament on Thursday, unless his government chooses to impose the changes in the meantime. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows ... Read More »
Be the first to comment!Flair launches $50-million lawsuit against leasing companies after plane seizures
By Christopher Reynolds, The Canadian Press on March 15th, 2023
MONTREAL – Flair Airlines has filed a $50-million lawsuit against several plane-leasing companies over the “unlawful” seizure of four of its aircraft over the weekend. The filings in Ontario Superior Court state that a trio of leasing firms found a better deal for the Boeing 737 Maxes with a third party and then “set Flair ... Read More »
Be the first to comment!
