Business
LockBit carried out 101 cyberattacks in February: NordLocker report
By The Canadian Press on March 15th, 2023
A digital storage firm company says the ransomware group whose software was used to attack Indigo Books & Music carried out 101 attacks in the month of February, a record for the group that began operating in 2019. NordLocker says LockBit has carried out more than 1,300 attacks since January 2020, and doubled its monthly ... Read More »
Be the first to comment!Swiss bank drags down big lenders as fears spread to Europe
By Jamey Keaten And David Mchugh, The Associated Press on March 15th, 2023
GENEVA (AP) – Shares in the globally connected Swiss bank Credit Suisse plunged Wednesday and dragged down other major European lenders as fears about deeper problems in the world banking system spread 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!Magnet Forensics deal draws conflicting advice from proxy advisors
By The Canadian Press on March 15th, 2023
Investors are getting conflicting advice from independent proxy advisors on whether the takeover price for cybersecurity firm Magnet Forensics Inc. is fair. Glass Lewis & Co. has recommended against the deal, saying the valuation for the Waterloo, Ont. based company is inadequate and that the proposed premium is “marginal” at best. The advice comes a ... Read More »
Be the first to comment!Stocks tumble on Wall Street on renewed fears about banks
By Stan Choe, The Associated Press on March 15th, 2023
NEW YORK (AP) – Stocks are back to falling on Wall Street Wednesday as worries worsen about the strength of banks on both sides of the Atlantic. The S&P 500 was 1.3% lower in midday trading, while markets in Europe fell more sharply as shares of Switzerland’s Credit Suisse tumbled to a record low. The ... Read More »
Be the first to comment!S&P/TSX composite drops over 350 points as concern over global banking sector spreads
By The Canadian Press on March 15th, 2023
TORONTO – Canada’s main stock index sank along with international markets in late-morning trading as mounting apprehensions over the global banking sector spread. The S&P/TSX composite index was down 353.53 points at 19,340.63 after troubles at Switzerland’s Credit Suisse rattled markets only days after two high-profile bank failures in the U.S. In New York, the ... Read More »
Be the first to comment!Flair launches $50-million lawsuit against leasing companies following plane seizures
By The Canadian Press on March 15th, 2023
TORONTO – Flair Airlines has filed a $50-million lawsuit against several plane-leasing companies over what it claims were unlawful seizures of four of its aircraft over the weekend. The filings in Ontario Superior Court state that a trio of leasing companies found a better deal for the planes with a third party and then set ... Read More »
Be the first to comment!CP Rail’s US$31billion takeover of KCS gains final regulatory approval
By Christopher Reynolds, The Canadian Press on March 15th, 2023
MONTREAL – The U.S. rail regulator is giving a green light to Canadian Pacific Railway Ltd.’s takeover of Kansas City Southern Railway Co. The Surface Transportation Board’s approval Wednesday clears the final hurdle in CP’s bid to buy KCS for US$31 billion in a deal that would create the only single-line rail network linking Canada, ... Read More »
Be the first to comment!S&P/TSX composite down over 300 points amid worries about global banking sector
By The Canadian Press on March 15th, 2023
TORONTO – Canada’s main stock index was down along with international markets in early trading amid continued worries about the global banking sector. The S&P/TSX composite index was down 301.99 points at 19,392.17 after troubles at Switzerland’s Credit Suisse rattled markets only days after high profile bank failures in the U.S. In New York, the ... Read More »
Be the first to comment!Credit Suisse shares sink as global fears about banks grow
By Jamey Keaten, The Associated Press on March 15th, 2023
GENEVA (AP) – Battered shares of Credit Suisse lost more than one-quarter of their value Wednesday, hitting a record low after its biggest shareholder – the Saudi National Bank – told news outlets that it would not inject more money into the Swiss bank beset by problems long before the failure of two U.S. lenders. ... Read More »
Be the first to comment!Stocks fall on Wall Street on renewed fears about banks
By Stan Choe, The Associated Press on March 15th, 2023
NEW YORK (AP) – Stocks are back to falling on Wall Street Wednesday as worries worsen about the strength of banks on both sides of the Atlantic. The S&P 500 was 1.1% lower in early trading, while markets in Europe fell more sharply as shares of Switzerland’s Credit Suisse tumbled to a record low. The ... Read More »
Be the first to comment!‘How are you going to compete?’: Canadians grapple with tight housing market
By The Canadian Press on March 15th, 2023
Eight interest rate hikes in less than a year have left thousands of Canadians feeling like homeownership is out of reach for now – and maybe even forever. The benchmark rate, which sits at 4.5 per cent and has pushed borrowing costs up, is eating into prospective buyers’ budgets and leaving many stuck in a ... Read More »
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