Business
U.S. applications for jobless benefits fall again last week
By Matt Ott, The Associated Press on February 23rd, 2023
The number of Americans filing for jobless aid fell last week as the labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy. Applications for unemployment benefits in the U.S. for the week ending Feb. 18 fell by 3,000 last week to 192,000, from 195,000 the ... Read More »
Be the first to comment!Six weeks of falling applications for unemployment benefits
By Matt Ott, The Associated Press on February 23rd, 2023
The number of Americans filing for jobless aid fell again last week as the labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy. Applications for unemployment benefits in the U.S. for the week ending Feb. 18 fell by 3,000 last week to 192,000, from 195,000 ... Read More »
Be the first to comment!US revises down last quarter’s economic growth to 2.7% rate
By Christopher Rugaber, The Associated Press on February 23rd, 2023
WASHINGTON (AP) – The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and elevated inflation, the government said Thursday in a downgrade from its initial estimate. The government had previously estimated that the economy grew at a 2.9% annual rate last quarter. The Commerce ... Read More »
Be the first to comment!Loblaw Companies reports $529M Q4 profit, revenue up nearly 10 per cent
By The Canadian Press on February 23rd, 2023
BRAMPTON, Ont. – Loblaw Companies Ltd. says it earned a profit available to common shareholders of $529 million in its latest quarter as its revenue rose nearly 10 per cent compared with a year ago. The retailer says the sales growth came as drugstore sales were driven by continued strong demand for cough and cold ... Read More »
Be the first to comment!First Quantum suspends ore processing at Cobre Panama as dispute escalates
By The Canadian Press on February 23rd, 2023
TORONTO – First Quantum Minerals Ltd. has suspended ore processing operations at its Cobre Panama mine. The stoppage is the latest escalation in its dispute with the Panamanian government over tax and royalty payments. The Toronto-based company says the interruption is due to Panamá Maritime Authority’s refusal to permit copper concentrate loading operations at the ... Read More »
Be the first to comment!Young Canadians less confident in financial future than a year ago: RBC poll
By The Canadian Press on February 23rd, 2023
TORONTO – A new poll by RBC has found that Canadians aged 18 to 34 are much less confident today about their financial futures than they were a year ago. Eighteen per cent of Canadians in that age group said they are confident in their financial future, down from 31 per cent a year earlier. ... Read More »
Be the first to comment!Bombardier takes top spot for business jet production globally
By The Canadian Press on February 23rd, 2023
Bombardier retained its position as the world’s biggest business jet manufacturer in 2022, increasing its sales even as worries persisted around a possible economic slump. The Montreal-based company churned out 123 private planes last year, beating out for the second year in a row Gulfstream Aerospace Corp., which produced 120. However, the Savannah, Ga.-based rival ... Read More »
Be the first to comment!Black-owned businesses smaller, less profitable than others: Statistics Canada
By The Canadian Press on February 23rd, 2023
OTTAWA – Statistics Canada says Black-owned businesses in Canada tend to be smaller and perform less well financially than businesses owned by white people or by other racialized groups. In a new report analyzing data from several sources up to 2018, the agency found that the proportion of Black business owners among all business owners ... Read More »
Be the first to comment!Nunavut finance minister set to table budget for the 2023-2024 fiscal year
By The Canadian Press on February 23rd, 2023
IQALUIT, Nunavut – Nunavut Finance Minister Lorne Kusugak is set to table the territory’s budget for the 2023-2024 fiscal year on Thursday. This is to be the second budget the territorial government has released since the October 2021 election. The last budget, tabled by Kusugak in May 2022, proposed $2.58 billion in spending with $51.5 ... Read More »
Be the first to comment!Prime Minister tells Quebec farmers government working on targeted inflation aid
By Jacob Serebrin, The Canadian Press on February 22nd, 2023
LONGUEUIL, Que. – Prime Minister Justin Trudeau says the federal government is looking at how it can provide targeted aid to farmers who are struggling with inflation. Trudeau, who made the comments at a meeting with farmers at the headquarters of Quebec’s farmer’s association, the L’Union des producteurs agricoles, in Longueuil, says he wants to ... Read More »
Be the first to comment!Google tests blocking news content for some Canadians in response to government bill
By Mickey Djuric, The Canadian Press on February 22nd, 2023
OTTAWA – Google is blocking some Canadian users from viewing news content in what the company says is a test run of a potential response to the Liberal government’s online news bill. Also known as Bill C-18, the Online News Act would require digital giants such as Google and Meta, which owns Facebook, to negotiate ... Read More »
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