Business
Ontario Nurses’ Association says bargaining with hospitals has broken down
By The Canadian Press on March 3rd, 2023
TORONTO – The Ontario Nurses’ Association says contract talks with the Ontario Hospital Association have broken down and will now head to arbitration in early May. The nurses’ union started bargaining with the hospitals in late January and talks had entered mediation on Wednesday. Bernie Robinson, the ONA’s interim president, says the union would have ... Read More »
Be the first to comment!Suncor Energy selling North Sea offshore assets in deal valued at $1.2B
By The Canadian Press on March 3rd, 2023
CALGARY – Suncor Energy Inc. has signed a deal to sell its offshore assets in the North Sea to Equinor UK Ltd. in an agreement valued at about $1.2 billion. Suncor interim chief executive Kris Smith says the decision to sell the U.K. exploration and production business is an example of the company’s commitment to ... Read More »
Be the first to comment!SNC-Lavalin conducting strategic review to optimize portfolio of businesses
By The Canadian Press on March 3rd, 2023
MONTREAL – SNC-Lavalin Group Inc. announced it is conducting a strategic review to optimize its portfolio of businesses as it reported a loss in its fourth quarter. SNC chief executive Ian Edwards says the company is looking to focus on the growth it achieved in 2022, within its engineering services, nuclear and operation and maintenance ... Read More »
Be the first to comment!Toronto-area home prices down 18% from last February, sales halved: board
By Tara Deschamps, The Canadian Press on March 3rd, 2023
TORONTO – Greater Toronto Area home prices fell almost 18 per cent from last February as the number of properties sold was halved, the region’s real estate board said. The Toronto Regional Real Estate Board (TRREB) said Friday that the average selling price for February totalled $1,095,617, roughly five per cent higher than the average ... Read More »
Be the first to comment!As window for final testing narrows, N.L.’s Muskrat Falls encounters new problems
By The Canadian Press on March 3rd, 2023
ST. JOHN’S, N.L. – Newfoundland and Labrador’s long-suffering Muskrat Falls hydroelectricity project has encountered new problems ahead of a final round of testing that must take place during the colder months. Newfoundland and Labrador Hydro says the issues have pushed a round of high-power testing to late March or early April. The Crown corporation’s latest ... Read More »
Be the first to comment!BoC expected to hold interest rate next week, one year after aggressive cycle began
By Nojoud Al Mallees, The Canadian Press on March 3rd, 2023
OTTAWA – One year after the Bank of Canada’s aggressive rate hike cycle began, economists widely expect the central bank will stick to its plan of holding its key interest rate steady at its next scheduled announcement. In making its rate decision next week, the central bank likely feels assured about its move to pause ... Read More »
Be the first to comment!Global stocks follow Wall St higher on interest rate hopes
By Joe Mcdonald, The Associated Press on March 3rd, 2023
BEIJING (AP) – Global stock markets advanced Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared. London, Shanghai, Frankfurt and Tokyo gained. Oil prices edged higher. Wall Street rose Thursday for the first time in three days after the president of ... Read More »
Be the first to comment!Asian stocks follow Wall St higher on interest rate hopes
By Joe Mcdonald, The Associated Press on March 2nd, 2023
BEIJING (AP) – Asian stock markets followed Wall Street higher Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared. Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices retreated. Wall Street rose Wednesday for the first time in three days after ... Read More »
Be the first to comment!Asian stocks follow Wall St up on interest rate hopes
By Joe Mcdonald, The Associated Press on March 2nd, 2023
BEIJING (AP) – Asian stock markets followed Wall Street higher Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared. Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices retreated. Wall Street rose Wednesday for the first time in three days after ... Read More »
Be the first to comment!TD follows other banks in seeing profits fall as more money set aside on rising risk
By Ian Bickis, The Canadian Press on March 2nd, 2023
TORONTO – TD Bank Group’s profits fell in the first quarter, following what’s proved to be a trend among big banks in the quarter as they set aside more money for potentially tougher economic conditions ahead. The bank’s $690 million in provisions for credit losses, up from $72 million a year earlier, come as high ... Read More »
Be the first to comment!Nordstrom closing all of its Canadian stores, cutting 2,500 jobs
By The Canadian Press on March 2nd, 2023
TORONTO – Nordstrom Inc. is closing all of its Canadian stores and cutting 2,500 jobs as it winds down operations in the country. The Seattle-based retailer has six Nordstrom and seven Nordstrom Rack stores in Canada, which will be shuttered by late June. Its e-commerce business will cease operations today. Nordstrom chief executive Erik Nordstrom ... Read More »
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