Business
Canadian Press NewsAlert: Nordstrom closing all Canadian stores, 2,500 jobs cut
By The Canadian Press on March 2nd, 2023
Nordstrom Inc. says it is winding down its Canadian operations and closing all of its stores in the country. The company said all of its 2,500 staff in Canada will lose their job. More coming... Read More »
Be the first to comment!S&P/TSX composite closes higher on lift from Wall Street relief rally
By The Canadian Press on March 2nd, 2023
TORONTO – Canada’s main stock index got a lift from rising U.S. markets Thursday, closing higher in spite of weakness in the financials sector. The S&P/TSX composite index was up 77.43 points at 20,337.21. In New York, the Dow Jones industrial average was up 341.73 points at 33,003.57. The S&P 500 index was up 29.96 ... Read More »
Be the first to comment!Wall Street closes higher for the first time in 3 days
By Stan Choe And Damian J. Troise, The Associated Press on March 2nd, 2023
NEW YORK (AP) – Stocks closed higher on Wall Street for the first time in three days, even as bond yields climb to tighten the squeeze on Wall Street. The S&P 500 climbed 0.8% Thursday after erasing a morning loss. The Dow and the Nasdaq also rose. Stocks immediately flipped from losses to gains after ... Read More »
Be the first to comment!‘Our reality:’ Finance minister wants review of Alberta’s volatile revenue structure
By Bill Graveland, The Canadian Press on March 2nd, 2023
CALGARY – Alberta’s finance minister says he would like to see a panel formed within the next year and a half to address the province’s often volatile revenue structure. Travis Toews told the Calgary Chamber of Commerce on Thursday that the province has worked hard on its fiscal framework and has been reducing debt and ... Read More »
1 responseCrescent Point continues to grow production in Kaybob Duvernay
By Amanda Stephenson, The Canadian Press on March 2nd, 2023
CALGARY – Crescent Point Energy Corp. says its $900-million acquisition of Shell Canada’s Kaybob Duvernay assets in 2021 has performed so well that the assets will have paid for themselves by the end of the first quarter of 2023. “We’ve been very pleased with this asset since entering the play in 2021,” Crescent Point chief ... Read More »
1 responsePBO forecasts economy to grow 1% this year, expects Bank of Canada to hold rates
By The Canadian Press on March 2nd, 2023
OTTAWA – The Parliamentary Budget Office has trimmed its forecast for economic growth this year. The PBO’s latest economic and fiscal outlook predicts the economy will grow by 1.0 per cent this year followed by 1.6 per cent in 2024. The outlook compares with the agency’s October forecast for growth of 1.2 per cent for ... Read More »
1 responseFirefighters battle blaze in Hong Kong shopping district
By Kanis Leung, The Associated Press on March 2nd, 2023
HONG KONG (AP) – Hong Kong firefighters battled a blaze early Friday that broke out at a construction site in the city’s popular shopping district. The fire erupted at the site in the densely built Tsim Sha Tsui district at about 11 p.m. on Thursday night. Multiple floors of the structure were on fire and ... Read More »
1 responseCanadian Natural Resources’ Q4 profit down from year ago; extreme cold affects output
By Amanda Stephenson, The Canadian Press on March 2nd, 2023
CALGARY – Canadian Natural Resources Ltd.’s profits took a hit in the fourth quarter of 2022 as extreme winter weather forced the oilsands giant to reduce production. The Calgary-based company reported Thursday that it earned $1.52 billion or $1.36 per diluted share for the quarter ended Dec. 31, down from $2.53 billion or $2.14 per ... Read More »
1 responseFire breaks out at site in Hong Kong’s shopping district
By Kanis Leung, The Associated Press on March 2nd, 2023
HONG KONG (AP) – Hong Kong firefighters battled a blaze early Friday that broke out at a construction site in the city’s popular shopping district. The fire erupted at the site in Tsim Sha Tsui at about 11 p.m. on Thursday night. No casualties have been reported. The site is surrounded by a shopping center, ... Read More »
1 responseIndustry urges Ottawa to expand trusted traveller program ahead of summer season
By The Canadian Press on March 2nd, 2023
TORONTO – An industry coalition is calling on Ottawa to broaden its trusted traveller pilot program and roll it out across the country. The government program allows approved passengers access to expedited lanes for airport security screening after they undergo background checks. It is currently available at select airports to a thin slice of Canadians ... Read More »
1 responseDesRosiers says February auto sales up 5.1 per cent from a year earlier
By The Canadian Press on March 2nd, 2023
TORONTO – DesRosiers Automotive Consultants Inc. says light vehicle sales in Canada were up 5.1 per cent in Februrary from a year earlier. The automotive industry research firm estimates 103,771 new light vehicles were sold in the month. While the total represents an increase from a year earlier, it was the second worst February sales ... Read More »
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