Business
S&P/TSX composite down almost 100 points, U.S. markets rise despite bank failures
By The Canadian Press on March 13th, 2023
TORONTO – U.S. stock markets ticked higher mid-morning after a rocky start to what’s shaping up to be a volatile trading day amid fears of financial contagion in the U.S. after the second- and third-largest bank failures in that country’s history, while Canada’s main stock index edged lower on weakness in the energy and financial ... Read More »
Be the first to comment!Biden OKs major Willow oil drilling in Alaska over protests
By Matthew Daly And Chris Megerian, The Associated Press on March 13th, 2023
WASHINGTON (AP) – The Biden administration said Monday it is approving the major Willow oil project on Alaska’s petroleum-rich North Slope, one of President Joe Biden’s most consequential climate choices that is drawing condemnation from environmentalists who say it flies in the face of the Democratic president’s pledges. The announcement comes a day after the ... Read More »
Be the first to comment!Bank stocks drop and S&P 500 swings as Wall Street shakes
By Stan Choe, The Associated Press on March 13th, 2023
NEW YORK (AP) – Wall Street is worried about what may be next to topple following the second- and third-largest bank failures in U.S. history, and stocks are swinging sharply Monday as investors scramble to find someplace safe to park their money. The S&P 500 was virtually unchanged in morning trading, but only after tumbling ... Read More »
Be the first to comment!Biden OKs controversial, huge Willow oil drilling in Alaska
By Matthew Daly And Chris Megerian, The Associated Press on March 13th, 2023
WASHINGTON (AP) – The Biden administration said Monday it is approving the controversial major Willow oil project on Alaska’s petroleum-rich North Slope, one of President Joe Biden’s most consequential climate choices that is likely to draw condemnation from environmentalists who say it flies in the face of the Democratic president’s pledges. The announcement comes a ... Read More »
Be the first to comment!Markets volatile in early morning trading after U.S. bank failures
By The Canadian Press on March 13th, 2023
TORONTO – It is a volatile trading session for markets this morning amid fears of financial contagion in the U.S. after the second- and third-largest bank failures in that country’s history, while Canada’s main stock exchange moves lower on weakness in the energy and financial sectors. The S&P/TSX composite index was down 148.96 points at ... Read More »
Be the first to comment!Canadian Tire launches fee-based Triangle Rewards subscription program for $89/year
By The Canadian Press on March 13th, 2023
TORONTO – Canadian Tire Corp. is rolling out a new fee-based subscription program as part of its Triangle Rewards loyalty program. The retailer says the subscription, which will cost $89 a year plus taxes, is an upgrade to its existing rewards program that will deliver “even more value to customers.” The company says members who ... Read More »
Be the first to comment!Canadian industry singing praises of Inflation Reduction Act as federal budget nears
By Amanda Stephenson, The Canadian Press on March 13th, 2023
CALGARY – Canadian oil and gas companies are singing from the same songbook in the lead-up to the 2023 federal budget, and its title is the Inflation Reduction Act. The U.S. legislation, signed into law by U.S. President Joe Biden in August of last year, has been brought up again and again in recent weeks ... Read More »
Be the first to comment!Bank stocks plunge and gold rises as Wall Street shakes
By Stan Choe, The Associated Press on March 13th, 2023
NEW YORK (AP) – Fear is gripping Wall Street about what’s next to topple following the second- and third-largest bank failures in U.S. history, and stocks are falling Monday as investors scramble to find someplace safe to park their money. The S&P 500 was 1.1% lower in early trading, with the heaviest losses coming from ... Read More »
Be the first to comment!Biden tells US to have confidence in banks after 2 collapse
By Ken Sweet, Christopher Rugaber, Chris Megerian And Cathy Bussewitz, The Associated Press on March 13th, 2023
NEW YORK (AP) – President Joe Biden on Monday told Americans the nation’s financial systems were safe, seeking to project calm following the swift and stunning collapse of two banks that prompted fears of a broader upheaval. “Your deposits will be there when you need them,” he said. U.S. regulators closed the Silicon Valley Bank ... Read More »
Be the first to comment!Household debt-to-income ratio edges lower as interest payments expand
By The Canadian Press on March 13th, 2023
OTTAWA – Statistics Canada says the ratio of household debt to disposable income improved in the fourth quarter as gains in disposable income offset an uptick in credit market debt. The federal agency says on a seasonally adjusted basis household credit market debt as a proportion of household disposable income edged down to 180.5 per ... Read More »
Be the first to comment!Biden tells U.S. to have confidence in banks after collapse
By Ken Sweet, Christopher Rugaber, Chris Megerian And Cathy Bussewitz, The Associated Press on March 13th, 2023
NEW YORK (AP) – President Joe Biden on Monday told U.S. residents the nation’s financial systems are sound, following the swift and stunning collapse of two banks that prompted fears of a broader upheaval. “American can have confidence that the banking system is safe,” he said from the Roosevelt Room before a trip to the ... Read More »
Be the first to comment!
