Business
Canadian home sales drop 40 per cent in February compared with year ago
By The Canadian Press on March 15th, 2023
OTTAWA – The Canadian Real Estate Association says homes sales shrunk by 40 per cent in February compared with a year ago. The association says February sales were comparable to what was recorded during the same month in 2018 and 2019, before the COVID-19 pandemic. The year-over-year drop in home sales in February came as ... Read More »
Be the first to comment!US stock fall as bank worries spread to Europe; Dow down 500
By Joe Mcdonald And Matt Ott, The Associated Press on March 15th, 2023
BEIJING – Stocks are tumbling on Wall Street Wednesday as worries about the strength of banks worsen on both sides of the Atlantic Ocean. The S&P 500 was 1.4% lower in early trading, while markets in Europe slumped even further as shares of Switzerland’s Credit Suisse tumbled to a record low. The Dow Jones Industrial ... Read More »
Be the first to comment!Canadian Press NewsAlert: CP Rail’s takeover of KCS gains final regulatory approval
By The Canadian Press on March 15th, 2023
WASHINGTON – 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 today 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!Canadian Press NewsAlert: Home sales drop 40% in February compared with year ago
By The Canadian Press on March 15th, 2023
OTTAWA – The Canadian Real Estate Association says homes sales in February dropped 40 per cent compared with a year ago. The drop comes as national home sales rose 2.3 per cent in February compared with January. More coming... Read More »
Be the first to comment!Tech sectors expects collapse of SVB to have ‘chilling’ effect on investments
By The Canadian Press on March 15th, 2023
TORONTO – Members of Canada’s technology sector say they’re worried the collapse of the Silicon Valley Bank will have a chilling effect on investments in their industry. Chris Albinson, chief executive at Communitech, says Canadian companies that didn’t even bank with SVB will feel the effects of its collapse, especially when fundraising. He already saw ... Read More »
Be the first to comment!Credit Suisse shares sink as key investor vows no more help
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 outlets that it would not inject more money into the ailing Swiss bank. The turmoil in the Credit Suisse stock price prompted an automatic ... Read More »
Be the first to comment!UK Treasury chief predicts no recession in Britain this year
By Danica Kirka, The Associated Press on March 15th, 2023
LONDON (AP) – U.K. Treasury chief Jeremy Hunt has predicted the country will not enter technical recession this year. Hunt summed up the state of the British economy by saying authorities remain vigilant and “take whatever steps are necessary for economic stability.” “Today the Office for Budget Responsibility forecast that because of changing international factors ... Read More »
Be the first to comment!US wholesale inflation fell last month on lower food costs
By Christopher Rugaber, The Associated Press on March 15th, 2023
WASHINGTON (AP) – Wholesale price increases in the United States slowed sharply last month as food costs declined, a sign that inflationary pressures may be easing. From January to February, the government’s producer price index fell 0.1%, after a 0.3% rise from December to January, which was revised sharply lower. Compared with a year ago, ... Read More »
Be the first to comment!CMHC says annual rate of housing starts climbed 13 per cent in February
By The Canadian Press on March 15th, 2023
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts climbed 13 per cent in February. The national housing agency says the seasonally adjusted annual rate of housing starts for the second month of the year was 243,959 units compared with 216,514 in January. The result came as the annual rate ... Read More »
Be the first to comment!Possible Air Canada Pilots Association merger with Air Line Pilots Association
By The Canadian Press on March 14th, 2023
MISSISSAUGA, Ont. – The Air Canada Pilots Association says it has reached an agreement in principle on a possible merger with the Air Line Pilots Association — the largest airline pilot union in the world. In a release Tuesday the two associations said the deal would now be voted on by Air Canada pilots as ... Read More »
Be the first to comment!British Columbia announces new energy ‘framework’ on heels of LNG facility approval
By The Canadian Press on March 14th, 2023
VANCOUVER – The British Columbia government says it’s rolling out a new framework for approving oil and gas projects that will ensure the province meets its emissions targets in the coming decades. Premier David Eby said Tuesday the framework will require new liquefied natural gas facilities to have a “credible plan” for net-zero emissions by ... Read More »
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