Business
Deepening worries about high rates send Wall Street lower
By Damian J. Troise, The Associated Press on March 9th, 2023
NEW YORK (AP) – Stocks sank broadly on Wall Street, worsening their losses for the week, as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation with higher interest rates. The losses came after two days of testimony before Congress by Federal Reserve Chair Jerome Powell, who ... Read More »
Be the first to comment!U.S. President Joe Biden’s long-awaited Canada visit to happen March 23-24
By The Canadian Press on March 9th, 2023
WASHINGTON – U.S. President Joe Biden will travel to Ottawa on March 23 for his first in-person visit to Canada since taking office in 2021. The White House says Biden will spend two days in Canada, during which he will sit down with Prime Minister Justin Trudeau. A visit to Canada is customarily one of ... Read More »
Be the first to comment!Ex-Goldman Sachs banker gets 10 year sentence for fraud
By Bobby Caina Calvan, The Associated Press on March 9th, 2023
NEW YORK (AP) – A former Goldman Sachs banker was sentenced Thursday to 10 years in prison for his role in looting a Malaysian development fund of billions of dollars used to finance lavish parties, a superyacht, premium real estate and even the 2013 film “The Wolf of Wall Street.” Roger Ng was convicted last ... Read More »
1 responsePurolator commits $1B to electrify Canadian delivery vehicle fleet by 2030
By The Canadian Press on March 9th, 2023
TORONTO – Purolator plans to electrify its Canadian fleet network by 2030 through a $1 billion commitment to purchase more than 3,500 electric delivery vehicles. In what the courier is calling the largest investment in its 63-year history, it says the plan will contribute to its goal of electrifying 60 per cent of its overall ... Read More »
1 responseFormer Ohio House speaker convicted in $60M bribery scheme
By Julie Carr Smyth, The Associated Press on March 9th, 2023
COLUMBUS, Ohio (AP) – Former state House Speaker Larry Householder and former Ohio Republican Party Chair Matt Borges were convicted Thursday in a $60 million bribery scheme that federal prosecutors have called the largest corruption case in state history. A jury in Cincinnati found the two guilty of conspiracy to participate in a racketeering enterprise ... Read More »
1 responseTransat CEO says travel demand nearly on par with 2019 despite higher prices
By Christopher Reynolds, The Canadian Press on March 9th, 2023
MONTREAL – The head of Transat AT Inc. says travel demand is poised to reach heights comparable with 2019, even as higher airfares and the threat of recession risk dampening customers’ enthusiasm. “Transat is moving towards a gradual return to profitability,” CEO Annick Guérard told a conference call Thursday to discuss the company’s latest results. ... Read More »
1 responseHere’s what Biden’s budget would mean – if it had a chance
By Chris Megerian, The Associated Press on March 9th, 2023
WASHINGTON (AP) – With Republicans in control of the House, there’s no chance that President Joe Biden’s new budget plan will become law as it stands. Instead, the financial blueprint that he’s announcing in Philadelphia on Thursday will serve as a political talking point for a president preparing to run for reelection. “When you look ... Read More »
Be the first to comment!As Fed looks to hike interest rates higher, Rogers says BoC can carve its own path
By The Canadian Press on March 9th, 2023
Senior deputy governor Carolyn Rogers says Canada is facing its own set of economic challenges which requires the Bank of Canada to tailor its policy accordingly. In a speech Rogers is delivering in Winnipeg today, the central bank official touts the advantage of an independent monetary policy. She says while the world is interconnected, the ... Read More »
Be the first to comment!Russian missile barrage slams into Ukrainian cities; 6 dead
By Hanna Arhirova And Elena Becatoros, The Associated Press on March 9th, 2023
KYIV, Ukraine (AP) – A barrage of more than 80 Russian missiles and a smaller number of exploding drones hit residential buildings and critical infrastructure across Ukraine on Thursday, killing six people and leaving hundreds of thousands without heat or electricity. The largest such attack in three weeks also put Europe’s largest nuclear plant at ... Read More »
Be the first to comment!Ex-Goldman Sachs banker gets 10 year sentence in 1MDB fraud
By Bobby Caina Calvan, The Associated Press on March 9th, 2023
NEW YORK (AP) – A former Goldman Sachs banker was sentenced Thursday to 10 years in prison for his role in looting a Malaysian development fund to pay for billions of dollars in bribes and kickbacks that were used to finance lavish parties, a superyacht, premium real estate and even the 2013 film “The Wolf ... Read More »
Be the first to comment!IRS nominee Daniel Werfel confirmed by Senate vote
By Fatima Hussein, The Associated Press on March 9th, 2023
WASHINGTON (AP) – The U.S. Senate confirmed Daniel Werfel to serve as commissioner of the Internal Revenue Service on Thursday by a vote of 54-42. Werfel, who pledged before senators not to expand tax audits on businesses and households making less than $400,000 per year, will serve a five-year term as leader of the federal ... Read More »
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