Business
S&P/TSX composite edges up amid rebound in China, as U.S. stock markets dip
By Christopher Reynolds, The Canadian Press on March 1st, 2023
Canada’s main stock index kicked off the month on a tentative positive note, edging higher Wednesday on strong economic numbers out of China even as worries about future rate hikes in North America tamp down market enthusiasm following a tough February. The S&P/TSX composite index rose 38.59 points to close at 20,259.78, as energy and ... Read More »
Be the first to comment!S&P/TSX composite edges up as U.S. stock markets dip
By The Canadian Press on March 1st, 2023
TORONTO – Canada’s main stock index climbed higher Wednesday, riding a tide of energy and metal sector gains despite losses in the financial and technology sectors, while U.S. stock markets were mostly in the red. The S&P/TSX composite index rose 38.59 points to close at 20,259.78. In New York, the Dow Jones industrial average inched ... Read More »
1 responseCompany planning to make COVID-19 vaccine in Canada could go out of business
By The Canadian Press on March 1st, 2023
MONTREAL – An American company that signed a deal with the federal government to produce COVID-19 vaccines in Montreal is warning investors it could go out of business within the year. Executives at Maryland-based Novavax told investors yesterday on a conference call that there is significant uncertainty surrounding the company’s ability to continue funding operations ... Read More »
1 responseStocks dip as Wall Street braces for higher interest rates
By Stan Choe, The Associated Press on March 1st, 2023
NEW YORK (AP) – Stocks dipped as Wall Street braced for interest rates to stay higher for longer with inflation remaining stubbornly sticky. The S&P 500 fell 0.5% Wednesday. The Dow Jones Industrial Average edged higher and the Nasdaq composite fell. After a hot start to the year, the stock market has struggled as data ... Read More »
1 response‘Unfree labour’: N.B. seafood foreign workers faced awful conditions, study says
By Hina Alam, The Canadian Press on March 1st, 2023
FREDERICTON – Temporary foreign workers in New Brunswick’s seafood industry during the COVID-19 pandemic suffered gruelling and sometimes dangerous conditions, says a new study by Dalhousie University. The study, called “Unfree Labour: COVID-19 and Migrant Workers in the Seafood Industry in New Brunswick,” said workers also endured low pay, long hours, overcrowded housing and limited ... Read More »
1 responseTD takeover of First Horizon in doubt as it looks to extend close again
By Ian Bickis, The Canadian Press on March 1st, 2023
TORONTO – TD Bank Group’s US$13.4-billion takeover of First Horizon is in doubt as it looks to further extend the closing date of the deal. First Horizon said in a regulatory filing Wednesday that TD has informed the bank it does not expect to close the deal by the current May 27 deadline and so ... Read More »
1 responseCalgary housing inventory sinks to 2006 levels, sales almost halved: Alberta board
By The Canadian Press on March 1st, 2023
CALGARY – The Calgary Real Estate Board says last month’s inventory levels were among the lowest the market has seen in February since 2006 as sales were almost halved from a year ago. The board says sales for the month totalled 1,740, a 47 per cent fall from February 2022. However, the board says last ... Read More »
Be the first to comment!Ottawa police looking to match success of Toronto mental health pilot project
By The Canadian Press on March 1st, 2023
Ottawa police are pledging tochange the way they respond to mental health calls as critics condemn a $15-million increase to the city’s policing budget. Council approved the $402.1-million budget on Wednesday, with police saying the new money will go toward hiring 25 officers, creating a body-camera project and making strategies for future protests. But response ... Read More »
Be the first to comment!Enbridge earmarks $3.3 billion for Gulf Coast storage plant, other projects
By Amanda Stephenson, The Canadian Press on March 1st, 2023
CALGARY – A U.S. Gulf Coast gas storage facility and a stake in a company developing fuel from waste food are among a string of new investments announced by Canadian energy giant Enbridge Inc. on Wednesday. At its annual investor day event, the Calgary-based company announced $3.3 billion in new investments it says will help ... Read More »
Be the first to comment!Shopify creates new career tracks with even compensation for managers and ‘crafters’
By The Canadian Press on March 1st, 2023
OTTAWA – Shopify Inc. is revamping its staffing and compensation model. The Ottawa-based e-commerce company says staff will now be split into two career tracks: managers and crafters. Compensation levels will be equivalent regardless of whether someone chooses to be a manager or a crafter. Shopify says the model will reward people for the impact ... Read More »
Be the first to comment!RBC reports Q1 profit down as expenses, provisions for credit losses rise
By Ian Bickis, The Canadian Press on March 1st, 2023
TORONTO – Royal Bank of Canada saw profits slip in the first quarter as it joined other banks in setting more money aside for tougher economic conditions ahead, though like others it also benefited from higher capital markets revenue as the uncertainty helped boost trading volumes. The bank reported a profit of $3.2 billion, down ... Read More »
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