Business
US stocks open modestly higher as worries linger on rates
By Joe Mcdonald And Matt Ott, The Associated Press on March 9th, 2023
NEW YORK (AP) – Stocks are opening modestly higher on Wall Street as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation. The modest moves came after two days of testimony before Congress by Federal Reserve Chair Jerome Powell, who said the central bank was prepared to ... Read More »
Be the first to comment!Applications for US jobless aid rise by most in 5 months
By Matt Ott, The Associated Press on March 9th, 2023
The number of Americans applying for unemployment benefits last week jumped by the most in five months, but layoffs remain historically low as the labor market continues to be largely unaffected by the Federal Reserve’s interest rate hikes. Applications for jobless claims in the U.S. for the week ending March 4 rose by 21,000 to ... Read More »
Be the first to comment!Transat AT reports Q1 $56.6M loss, revenue more than triples
By The Canadian Press on March 9th, 2023
MONTREAL – Transat AT Inc. reported a $56.6-million loss in its latest quarter compared with a loss of $114.3 million a year earlier as its revenue more than tripled. Transat chief executive Annick Guérard says the company is on an upswing and is headed for a return to profitability. The travel company says the loss ... Read More »
Be the first to comment!Maple Leaf Foods reports $41.5M Q4 loss, raises quarterly dividend
By The Canadian Press on March 9th, 2023
MISSISSAUGA, Ont. – Maple Leaf Foods Inc. raised its dividend as it reported a loss of $41.5 million in its latest quarter due in part to weaker pork markets and a cyberattack. The food processing company says it will now pay a quarterly dividend of 21 cents per share, up from 20 cents per share. ... Read More »
Be the first to comment!Russian missile barrage slams into cities across Ukraine
By Hanna Arhirova And Elena Becatoros, The Associated Press on March 9th, 2023
KYIV, Ukraine (AP) – Russia unleashed “a massive rocket attack” that hit critical infrastructure and residential buildings in 10 regions of Ukraine, the country’s president said Thursday, with officials reporting at least six deaths in the largest such nighttime attack in three weeks. President Volodymyr Zelenskyy described the barrage that came while many people slept ... Read More »
Be the first to comment!TikTok is Canada’s least trusted social media platform: TMU study
By Tara Deschamps, The Canadian Press on March 9th, 2023
TORONTO – TikTok is experiencing the fastest rate of growth among Canadians, but is also the least trusted social media platform in the country, a new report said. The research published Thursday by Toronto Metropolitan University showed the short video app has nearly tripled its reach since 2019 with 29 per cent of survey respondents ... Read More »
Be the first to comment!Credit card debt up 15 per cent in Q4, younger Canadians feel hardest pinch: Equifax
By The Canadian Press on March 9th, 2023
TORONTO – Canadian credit card debt soared in the last three months of 2022 amid rising interest rates and stubbornly high inflation with younger Canadians in particular relying on credit to make ends meet. Credit monitoring agency Equifax says Canadians’ credit card debt increased by more than 15 per cent from the same period a ... Read More »
Be the first to comment!Indigo employee data leak included sensitive info on immigration, medical leave
By The Canadian Press on March 8th, 2023
Indigo says the data leak that affected current and former employees of the bookstore chain included information on medical leaves and immigration applications, as well as other sensitive information not included when the company initially disclosed the leak. It has been a month since the retailer was hit by a cyberattack that brought down its ... Read More »
Be the first to comment!WSP Global reports lower earnings for fourth quarter, full year though revenues rise
By The Canadian Press on March 8th, 2023
MONTREAL – WSP Global says it earned $120 million in the fourth quarter of 2022, down 5.3 per cent from the same quarter a year earlier. That’s despite the Montreal-based consultancy company reporting revenues grew 23.2 per centto $3.56 billion during the quarter ended Dec. 31. Earnings for the full financial year were $431.8 million, ... Read More »
Be the first to comment!‘Bad taste in your mouth’: Tim Hortons wrongly tells customers they won $10,000
By Tara Deschamps, The Canadian Press on March 8th, 2023
TORONTO – Some Tim Hortons customers who were told they had won $10,000 from the coffee chain’s popular Roll Up To Win contest are now being notified that the prize message was a glitch. The coffee and doughnut chain said Wednesday that for a few hours on Monday – the contest’s first day – a ... Read More »
Be the first to comment!Grocery CEOs deny accusations that food price inflation is driven by profit-mongering
By The Canadian Press on March 8th, 2023
OTTAWA – The leaders of Canada’s major grocery chains insist that food price inflation is not caused by profit-mongering and that their margins on food-related profits have remained low. The CEOs and presidents of Loblaw Cos. Ltd., Metro Inc. and Empire Co. Ltd. – which operates chains including Sobeys, Safeway and FreshCo – told members ... Read More »
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