Business
Pearson airport to cap number of flights at peak travel times
By The Canadian Press on February 28th, 2023
Toronto Pearson International Airport plans to cap the number of flights into and out of Canada’s largest air hub at peak travel times this year. The Greater Toronto Airports Authority says it will impose a “hard limit” on how many commercial planes arrive at and depart from Pearson at any given hour during March break ... Read More »
Be the first to comment!What is TikTok doing with my data and should I ditch the app?
By Tara Deschamps, The Canadian Press on February 28th, 2023
TORONTO – TikTok has been in the spotlight this week after the federal government announced it was banning the social media app from its devices days after Canadian privacy commissioners began investigating the company. The developments stem from renewed interest in ByteDance, the app’s parent company, being based in China, where laws allow the country ... Read More »
Be the first to comment!Canadian commercial real estate investment could reach high of $59B in 2023: CBRE
By The Canadian Press on February 28th, 2023
TORONTO – The outlook for commercial real estate looks bumpy in the near term, but a soft landing could still be in the cards. CBRE’s Canada Real Estate Market Outlook forecasts challenges such as tougher financing conditions and a potential economic slowdown inhibiting some investors. The commercial real estate company expects one to two quarters ... Read More »
Be the first to comment!BMO Financial Group reports earnings drop on Bank of the West-related charge
By Ian Bickis, The Canadian Press on February 28th, 2023
TORONTO – BMO Financial Group said Tuesday it is focused on integrating its US$16.3 billion Bank of the West acquisition that dominated fourth-quarter results and will reshape its balance sheet in the quarters ahead. “The completion of our acquisition of the Bank of the West on February 1 is a historic moment for BMO, and ... Read More »
Be the first to comment!Ex-FTX executive is 3rd to plead guilty in cooperation deal
By Larry Neumeister, The Associated Press on February 28th, 2023
NEW YORK (AP) – A former FTX executive pleaded guilty Tuesday to conspiracy and wire fraud charges as part of a deal to cooperate with federal prosecutors building their case against FTX founder Sam Bankman-Fried in what authorities have dubbed one of the biggest frauds in history. The plea by Nishad Singh, formerly the cryptocurrency ... Read More »
Be the first to comment!Biden nominating Julie Su as next US labor secretary
By Seung Min Kim And Zeke Miller, The Associated Press on February 28th, 2023
WASHINGTON (AP) – President Joe Biden on Tuesday said he planned to nominate Julie Su, the current deputy and former California official, as his next labor secretary, replacing the departing incumbent, former Boston Mayor Marty Walsh. Su, a civil rights attorney and former head of California’s labor department, was central to negotiations between labor and ... Read More »
Be the first to comment!Biden to nominate Julie Su as next US labor secretary
By Seung Min Kim And Zeke Miller, The Associated Press on February 28th, 2023
WASHINGTON (AP) – President Joe Biden is nominating Julie Su, the current deputy and former California official, as his next labor secretary, replacing the departing incumbent, former Boston Mayor Marty Walsh. Su, a civil rights attorney and former head of California’s labor department, was central to negotiations between labor and freight rail companies late last ... Read More »
Be the first to comment!Scotiabank rethinking strategy as results hit by high funding costs, expense growth
By Ian Bickis, The Canadian Press on February 28th, 2023
TORONTO – Scotiabank’s new chief executive says the bank is rethinking its strategy as it reported a drop in profits last quarter because of high funding costs and expense growth. Scott Thomson, who took on the top job Feb. 1, told a conference call with investors and financial analysts Tuesday that the bank would be ... Read More »
Be the first to comment!Tepid outlook from Target after 4th quarterly profit dip
By Anne D'innocenzio, The Associated Press on February 28th, 2023
NEW YORK (AP) – Target plans to invest as much as $5 billion this year expanding services for customers, including a drive up service for returns, renovations at 175 stores and improvements in online shopping. The Minneapolis retailer announced the investments Tuesday during its annual investor meeting as it reported a 43% tumble in profits ... Read More »
Be the first to comment!Economy posted no growth in the fourth quarter, but consumer spending is holding on
By Nojoud Al Mallees, The Canadian Press on February 28th, 2023
OTTAWA – The Canadian economy was treading water at the end of 2022, the latest GDP report shows, but beneath the disappointing data is resilient consumer spending keeping the economy afloat. On Tuesday, Statistics Canada said real gross domestic product was unchanged in the fourth quarter of 2022 after five consecutive quarters of growth. The ... Read More »
Be the first to comment!Conservative justices question student loan forgiveness plan
By Mark Sherman, The Associated Press on February 28th, 2023
WASHINGTON (AP) – Conservative justices holding the Supreme Court’s majority pressed skeptical questions Tuesday about President Joe Biden’s plan to wipe away or reduce student loans held by millions of Americans. The high court, with its 6-3 conservative majority, heard arguments on two challenges to the plan, which has so far been blocked by Republican-appointed ... Read More »
Be the first to comment!
