Business
Powell says ‘no decision’ on the Fed’s next move on rates
By Christopher Rugaber, The Associated Press on March 8th, 2023
WASHINGTON (AP) – Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank’s policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation. “If – and I stress that no decision has been made on this – ... Read More »
Be the first to comment!The Bank of Canada held its key interest rate steady. What the announcement says
By The Canadian Press on March 8th, 2023
OTTAWA – The Bank Canada kept its key interest rate target on hold at 4.5 per cent on Wednesday. Here is the text of the central bank’s statement announcing the decision: The Bank of Canada today held its target for the overnight rate at 4.5 per cent, with the Bank Rate at 4.75 per cent ... Read More »
Be the first to comment!First Quantum reaches new profit-sharing deal with Panama for Cobre Panama mine
By The Canadian Press on March 8th, 2023
TORONTO – First Quantum Minerals Ltd. says it has reached an agreement to settle its dispute with the government of Panama over profit-sharing at the Canadian miner’s Cobre Panama mine. Under the finalized draft concession agreement, the company will make a payment of US$375 million plus an additional US$20 million to cover taxes and royalties ... Read More »
Be the first to comment!January US job openings dip, but still high at 10.8 million
By Paul Wiseman, The Associated Press on March 8th, 2023
WASHINGTON (AP) – U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve. Job openings fell from 11.2 million in December but remained high by historical standards, the Labor Department reported Wednesday, but layoffs rose in January. The ... Read More »
Be the first to comment!Bank of Canada holds key rate for first time in a year, leaves door open to hikes
By The Canadian Press on March 8th, 2023
OTTAWA – The Bank of Canada is holding its key interest rate steady for the first time in a year while reiterating it is taking a wait-and-see approach with monetary policy. The central bank says it has decided to hold its key rate at 4.5 per cent based on its assessment of recent economic data. ... Read More »
Be the first to comment!Stocks steady themselves, for now, after painful tumble
By Stan Choe, The Associated Press on March 8th, 2023
NEW YORK (AP) – Stocks are steadying on Wall Street Wednesday, a day after sinking to one of their worst days of the year, but sharper swings could be ahead later in the day. The S&P 500 was virtually unchanged in early trading. The Dow Jones Industrial Average was up 2 points, or less than ... Read More »
Be the first to comment!Wall Street steady themselves, for now, after painful tumble
By Yuri Kageyama And Matt Ott, The Associated Press on March 8th, 2023
NEW YORK (AP) – Stocks are steadying on Wall Street a day after sinking to one of their worst days of the year, but sharper swings could be ahead later in the day. The S&P 500 was 0.2% higher in early trading Wednesday. The Dow Jones Industrial Average and the Nasdaq composite were also higher. ... Read More »
Be the first to comment!Statistics Canada reports $1.9B merchandise trade surplus for January
By The Canadian Press on March 8th, 2023
OTTAWA – Statistics Canada says the country posted a merchandise trade surplus of $1.9 billion in January, helped by exports of wheat, canola oil and soybeans. The agency says the result compared with a revised surplus of $1.2 billion for December. The initial reading for the final month of 2022 released last month had showed ... Read More »
Be the first to comment!Timeline of the ransomware attack against Canadian bookstore retailer Indigo
By The Canadian Press on March 8th, 2023
TORONTO – It’s been one month since a ransomware attack hit Canada’s biggest bookstore chain. The hack kicked Indigo Books & Music Inc.’s website and payment systems offline and compromised the personal information of some current and former employees. Here’s a timeline of the cyberattack: Feb. 8: In a post on Twitter at 2:15 p.m. ... Read More »
Be the first to comment!One month after cyberattack hit, what’s next for Indigo?
By Brett Bundale, The Canadian Press on March 8th, 2023
One month after a cyberattack hit Indigo Books & Music Inc., Canada’s biggest bookstore chain is back online, although, still grappling with the fallout. “A month has passed but it’s not back to normal for Indigo,” said Charles Finlay, executive director of Rogers Cybersecure Catalyst at Toronto Metropolitan University. “It’s a reflection of the complexity ... Read More »
Be the first to comment!Credit unions beating big banks when it comes to women in executive roles: report
By Rosa Saba, The Canadian Press on March 8th, 2023
Smaller financial institutions tend to be closer to gender parity in their executive ranks than the major Canadian banks, a new analysis by credit rating agency DBRS Morningstar has found. Banks and credit unions are approaching gender parity at the board level, the report found, but credit unions had 44 per cent female representation in ... Read More »
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