Business
Canadian economy remained flat in Q4, contracted in December
By The Canadian Press on February 28th, 2023
OTTAWA – The Canadian economy stayed flat in the fourth quarter following five consecutive quarters of growth, marking a deeper slowdown than anticipated. Statistics Canada says real gross domestic product was unchanged in the last three months of 2022, despite higher household and government spending as well as a stronger trade position for Canada. Real ... Read More »
Be the first to comment!Baytex signs agreement to buy Ranger Oil in deal valued at $3.4B including debt
By The Canadian Press on February 28th, 2023
CALGARY – Baytex Energy Corp. has signed a deal to buy U.S. company Ranger Oil Corp. in a deal valued at C$3.4 billion, including assumed debt. Ranger Oil operates in the Eagle Ford shale region in south Texas, an area where Baytex also has assets. Under the terms of the agreement, Ranger shareholders will receive ... Read More »
Be the first to comment!Scotiabank reports Q1 profit down, provisions for credit losses up from a year ago
By The Canadian Press on February 28th, 2023
TORONTO – Scotiabank reported its first-quarter profit fell compared with a year ago as its provisions for credit losses climbed higher. The bank said Tuesday it earned $1.77 billion or $1.36 per diluted share for the quarter ended Jan. 31, down from a profit of $2.74 billion or $2.14 per diluted share in the same ... Read More »
Be the first to comment!Wall Street poised for gains as a dismal February winds down
By Elaine Kurtenbach And Matt Ott, The Associated Press on February 28th, 2023
BANGKOK – Wall Street veered toward small gains in premarket trading Tuesday with another batch of earnings on tap to close out a month of losses fueled by anxiety over more interest rate hikes and a possible recession. Futures for the Dow Jones industrials were up 0.3% before the bell and futures for the S&P ... Read More »
Be the first to comment!Laurentian Bank Q1 profit down, provisions for credit losses up from 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 says 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 share ... Read More »
Be the first to comment!Scotiabank reports Q1 profit down, provisions for credit losses up from year ago
By The Canadian Press on February 28th, 2023
TORONTO – Scotiabank reported its first-quarter profit fell compared with a year ago. The bank says it earned $1.77 billion or $1.36 per diluted share for the quarter ended Jan. 31, down from a profit of $2.74 billion or $2.14 per diluted share in the same period a year earlier. Revenue totalled $7.98 billion, down ... Read More »
Be the first to comment!BMO Financial Group reports first-quarter profit down from year ago
By The Canadian Press on February 28th, 2023
TORONTO – BMO Financial Group reported a first-quarter profit of $247 million, down from $2.93 billion in the same quarter a year earlier, as it took a one-time charge related to its acquisition of Bank of the West. The bank says its profit amounted to 30 cents per share for the quarter ended Jan. 31 ... Read More »
Be the first to comment!Companies must listen to racialized employees in tackling racism at work: experts
By Sammy Hudes, The Canadian Press on February 28th, 2023
TORONTO – Experts say commitments to tackle racism in the workplace have not been met with enough action as a report released Tuesday found more than 70 per cent of Black Canadians still experience racism or microaggressions on the job. While one-third of respondents to a KPMG survey indicated they experienced less racism at work ... Read More »
Be the first to comment!Spike in Toronto mailbox vandalism leaves fewer snail mail options
By The Canadian Press on February 28th, 2023
Canada Post says a vandalism spree has put many of its Toronto mailboxes out of commission. The Crown corporation says a “rapid and unprecedented increase in vandalism” to its street letterboxes has prompted it to wrap them in plastic to keep customers from depositing mail in damaged or unsecured boxes. In response to the crime ... Read More »
Be the first to comment!StatCan to release data on fourth quarter economic growth this morning
By The Canadian Press on February 28th, 2023
OTTAWA – Statistics Canada will release December and fourth quarter gross domestic product figures this morning. The federal agency’s preliminary estimate indicated the economy grew at an annualized rate of 1.6 per cent in the fourth quarter, marking a slowdown from previous quarters. In comparison, the economy grew at an annualized rate of 2.9 per ... Read More »
Be the first to comment!World shares mixed after slight gains on Wall Street
By Elaine Kurtenbach, The Associated Press on February 28th, 2023
BANGKOK (AP) – Shares were lower in Europe on Tuesday after a mixed session in Asia following a reprieve on Wall Street from selling pressure driven by worries over inflation and interest rates. U.S. futures declined and oil prices advanced. Benchmarks rose in Tokyo, Seoul and Shanghai but fell in London, Paris and Frankfurt. Investors ... Read More »
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