November 25th, 2020

Business

Mnuchin denies trying to limit Biden’s economic options

By Martin Crutsinger And Christopher Rugaber, The Associated Press on November 20th, 2020

WASHINGTON – Treasury Secretary Steven Mnuchin denied on Friday that he is attempting to limit President-elect Joe Biden’s options for reviving the pandemic-damaged economy by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said the programs were not being heavily utilized and Congress can make better use of the money by ... Read More »

Be the first to comment!

S&P/TSX composite reaches to within five per cent of record high; U.S. markets fall

By Ross Marowits, The Canadian Press on November 20th, 2020

TORONTO – Canada’s main stock index moved to within about five percentage points of its record high Friday on a broad-based rally involving technologies along with cyclical sectors like materials and energy. The S&P/TSX composite index closed up 109.29 points to 17.019.10. The intraday high of 17,048.87 was less than 1,000 points from the peak ... Read More »

Be the first to comment!

Shoe retailer Caleres to close 133 Naturalizer stores in U.S., Canada

By The Canadian Press on November 20th, 2020

TORONTO – More than 130 Naturalizer stores in the United States and Canada will be closed by early 2021 as Caleres Inc. adopts a digital sales strategy for the shoe chain. Calares says a large percentage of Naturalizer’s sales already originate online, a trend in consumer shopping habits that has accelerated during the COVD pandemic. ... Read More »

Be the first to comment!

S&P/TSX composite reached to within five per cent of record high; U.S. markets fall

By The Canadian Press on November 20th, 2020

TORONTO – Canada’s main stock index moved to within about five percentage points of its record high on a broad-based rally involving technologies along with cyclical sectors like materials and energy. The S&P/TSX composite index closed up 109.29 points to 17.019.10. In New York, the Dow Jones industrial average was down 219.75 points at 29,263.48. ... Read More »

Be the first to comment!

Ontario moving Toronto, Peel Region into lockdown starting Monday

By The Canadian Press on November 20th, 2020

TORONTO – Ontario is moving the COVID-19 hot spots of Toronto and Peel Region into lockdown starting Monday. The government says that means no indoor organized public events or social gatherings except with members of the same household. The lockdown will limit non-essential retailers to curbside pickup, ban indoor dining at restaurants, close personal care ... Read More »

Be the first to comment!

Canadian Press NewsAlert: Ontario moving Toronto, Peel Region into lockdown

By The Canadian Press on November 20th, 2020

TORONTO – Ontario is moving the COVID-19 hot spots of Toronto and Peel Region into lock down starting Monday. Schools and child care centres will remain open. Premier Doug Ford said earlier this week that new restrictions were needed to help preserve hospital capacity and protect residents of long-term care homes. The stricter measures come ... Read More »

Be the first to comment!

Survey shows two-thirds of energy company employers cut labour costs due to COVID-19

By The Canadian Press on November 20th, 2020

CALGARY – A survey by energy labour market organization PetroLMI shows that more than two-thirds of the employers in Canada’s oil and gas sector imposed labour cost reduction measures in the wake of the COVID-19 pandemic lockdowns, including 37 per cent who enacted permanent layoffs. The division of Energy Safety Canada surveyed 300 energy industry ... Read More »

Be the first to comment!

Canada Post Group of Companies reports $216-million pre-tax Q3 loss

By The Canadian Press on November 20th, 2020

OTTAWA – The Canada Post Group of Companies is reporting a third-quarter pre-tax loss of $216 million, as increased revenue from parcel shipping failed to compensate for higher pandemic-related costs and a slowdown in its Canada Post segment. The company said Friday the result for the quarter compared with a loss before tax of $87 ... Read More »

Be the first to comment!

Mnuchin denies trying to hinder incoming administration

By Martin Crutsinger And Christopher Rugaber, The Associated Press on November 20th, 2020

WASHINGTON – Treasury Secretary Steven Mnuchin denied that he is attempting to limit the choices President-elect Joe Biden will have to promote an economic recovery by ending several emergency loan programs being run by the Federal Reserve. Mnuchin said his decision was based on the fact that the programs were not being heavily utilized. He ... Read More »

Be the first to comment!

S&P/TSX composite up in late-morning trading, U.S. stock markets mixed

By The Canadian Press on November 20th, 2020

TORONTO – Strength in the technology, utility and metals and mining sectors helped lift Canada’s main stock index in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 35.45 points at 16,945.26. In New York, the Dow Jones industrial average was down 126.47 points at 29,356.76. The S&P 500 index ... Read More »

Be the first to comment!