Business
National Bank reports $881M Q1 profit, down from $930M a year earlier
By The Canadian Press on March 1st, 2023
MONTREAL – National Bank of Canada reported a first-quarter profit of $881 million, down from $930 million in the first quarter of 2022, as its provisions for credit losses ticked up. The Montreal-based bank says the profit amounted to $2.49 per diluted share for quarter ended Jan. 31, down from a profit of $2.64 per ... Read More »
Be the first to comment!RBC reports Q1 profit down from year ago, provisions for credit losses up
By The Canadian Press on March 1st, 2023
TORONTO – Royal Bank of Canada reported a first-quarter profit of $3.21 billion, down from $4.10 billion a year earlier as its provisions for credit losses increased. The bank says the profit amounted to $2.29 per diluted share for the quarter ended Jan. 31, down from $2.84 per diluted share in the same quarter last ... Read More »
Be the first to comment!B.C.’s budget praised for housing investment, criticized for lack of business help
By The Canadian Press on March 1st, 2023
VICTORIA – The British Columbia government’s new budget will spend more as the economy shrinks. Finance Minister Katrine Conroy says now isn’t the time to start making cuts, so there is more money for things like health care, addiction treatment, foster care, rent control and family supports. Opposition Liberal Leader Kevin Falcon says the proposed ... Read More »
Be the first to comment!TikTok ban should make companies review social media, device policies, experts say
By Tara Deschamps, The Canadian Press on March 1st, 2023
TORONTO – The federal government’s move to ban TikTok on its phones should make companies think twice about their data policies and consider blocking the app on its own devices, academics say. Data privacy and technology professors say Ottawa’s ban of the app, along with an investigation into the company launched last week by a ... Read More »
Be the first to comment!Deficits and government spending highlight the 2023 British Columbia budget
By The Canadian Press on February 28th, 2023
VICTORIA – Here are highlights of the 2023 British Columbia budget presented Tuesday. All costs are over three years, unless otherwise stated: $6.4 billion in new health spending, including $2.6 billion for health services such as cancer care, $1.1 billion to attract and retain family doctors, and more than $1 billion for mental health and ... Read More »
Be the first to comment!Here’s what people are saying in reaction to the British Columbia budget
By The Canadian Press on February 28th, 2023
VICTORIA – The British Columbia government released a budget Tuesday that promises billions in new spending on health, housing and cost-of-living supports, as well as a return to deficits. Here’s what people are saying about the plan: “Some believe we should respond to uncertainty by pulling back. By making cuts that reduce services. Or by ... Read More »
Be the first to comment!Aecon boosts profits after bolstering project backlog
By The Canadian Press on February 28th, 2023
TORONTO – Aecon Group Inc. says its fourth-quarter earnings shot up by nearly two-thirds from the same period last year as the construction firm shored up its project backlog. The Toronto-based company says its net profit jumped to $19.7 million in the quarter ended Dec. 31 from $12.1 million in the same period in 2021. ... Read More »
Be the first to comment!CP NewsAlert: Alberta predicting $2.4-billion surplus for petro-powered economy
By The Canadian Press on February 28th, 2023
EDMONTON – Alberta is predicting a $2.4-billion budget surplus for its petro-powered economy this year. The budget is the first under United Conservative Party Premier Danielle Smith and the last before a provincial election expected in May. The budget plans to take a big bite out of the province’s debt and prevent deficits when oil ... Read More »
Be the first to comment!CP NewsAlert: B.C. budget boosts health and housing, forecasting return to deficits
By The Canadian Press on February 28th, 2023
VICTORIA – British Columbia Finance Minister Katrine Conroy has tabled a budget that forecasts deficits totalling $11 billion over the next three years, in contrast to this year’s hefty surplus. Big-ticket expenditures include almost $6.4 billion in new health funding, about $1 billion for mental health and addictions services and housing gets an additional $4.2 ... Read More »
Be the first to comment!North American markets slip again, ending rough month for investors
By The Canadian Press on February 28th, 2023
TORONTO – North American stock markets edged down Tuesday to close what has been a rough February for investors. The S&P/TSX composite index closed down 38.94 points at 20,221.19. In New York, the Dow Jones industrial average was down 232.39 points at 32,656.70. The S&P 500 index was down 12.09 points at 3,970.15, while the ... Read More »
Be the first to comment!Wall Street closes out a chilling February with another dip
By Stan Choe, The Associated Press on February 28th, 2023
NEW YORK (AP) – Stocks drifted to a weak close on Wall Street, closing out a rocky February. The S&P 500 lost 0.3% Tuesday, and the Dow Jones Industrial Average and the Nasdaq composite also fell. Treasury yields were mixed. After a hot start to the year bolstered by hopes that inflation was on the ... Read More »
Be the first to comment!
