Business
S&P/TSX composite down as energy and financial stocks fall, U.S. markets mixed
By The Canadian Press on February 28th, 2023
TORONTO – Losses in the financial and energy sectors helped lead Canada’s main stock index lower in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was down 39.27 points at 20,220.86. In New York, the Dow Jones industrial average was down 105.99 points at 32,783.10. The S&P 500 index was up ... Read More »
Be the first to comment!Tepid outlook from Target after 3rd 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!Quebec follows federal lead, bans TikTok application on government cellphones
By The Canadian Press on February 28th, 2023
Quebec is banning the installation and use of the social media application TikTok on government cellphones as of today. The province’s cybersecurity and digital technology minister announced the ban late yesterday, several hours after the federal government announced a similar ban. Éric Caire said in a news release that the ban is preventative and that ... Read More »
Be the first to comment!Supreme Court argues Biden student loan plan worth billions
By Mark Sherman, The Associated Press on February 28th, 2023
WASHINGTON (AP) – The Supreme Court has begun hearing arguments in a partisan legal fight over 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 Tuesday in two challenges to the plan, which has so far been ... Read More »
Be the first to comment!Supreme Court weighs Biden student loan plan worth billions
By Mark Sherman, The Associated Press on February 28th, 2023
WASHINGTON (AP) – The Supreme Court has begun hearing arguments in a partisan legal fight over 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 Tuesday on two challenges to the plan, which has so far been ... Read More »
Be the first to comment!Provinces to see limited growth this year but protracted recession unlikely: Report
By The Canadian Press on February 28th, 2023
OTTAWA – New research says Canada’s provinces are poised for sluggish economic activity and limited growth for the rest of this year and into 2024. The latest provincial outlook from The Conference board of Canada predicts the country will see very little improvement in the economy this year and at least one quarter of negative ... Read More »
Be the first to comment!Consumer confidence slips again in February
By Matt Ott, The Associated Press on February 28th, 2023
WASHINGTON (AP) – Consumers confidence dipped for the second straight month as stubborn inflation and anxiety over a potentially slowing economy weighed on Americans. The Conference Board reported Tuesday that its consumer confidence index slipped to 102.9 in February, from a reading of 106 in January. The business research group’s present situation index – which ... Read More »
Be the first to comment!‘Don’t be afraid to ask’: Tips for young workers in salary negotiations
By Sammy Hudes, The Canadian Press on February 28th, 2023
TORONTO – As MBA student Lisa Malachowski negotiated her salary for a job set to begin this summer, a thought familiar to many young workers crossed her mind: “Maybe they’ll withdraw the offer.” Malachowski, a soon-to-be-graduate of Concordia University’s John Molson School of Business (JMSB), had been offered a full-time position at the same tech ... Read More »
Be the first to comment!Wall Street drifts lower on the last day of a tough month
By Elaine Kurtenbach And Matt Ott, The Associated Press on February 28th, 2023
NEW YORK (AP) – Stocks are drifting lower in early trading as Wall Street closes out a tough February. The S&P 500 was off 0.3% shortly after the opening bell Tuesday. The Dow and the Nasdaq composite also fell. Treasury yields were higher. After a hot start to the year bolstered by hopes that inflation ... Read More »
Be the first to comment!Canadian economy slowed by more than expected in Q4, contracted in December
By The Canadian Press on February 28th, 2023
OTTAWA – The Canadian economy ended 2022 with a deeper slowdown than anticipated amid higher interest rates but appears to have gained momentum at the start of the new year. On Tuesday, Statistics Canada said real gross domestic product was unchanged in the fourth quarter of 2022 after five consecutive quarters of growth. The report ... Read More »
Be the first to comment!Laurentian Bank Q1 profit down, provisions for credit losses up from a year ago
By The Canadian Press on February 28th, 2023
MONTREAL – Laurentian Bank of Canada reported its first-quarter profit fell compared with a year ago as its provisions for credit losses ticked higher. The Montreal-based bank said Tuesday it earned $51.9 million or $1.09 per diluted share for the quarter ended Jan. 31, compared with a profit of $55.5 million or $1.17 per diluted ... Read More »
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