Business
Gildan Activewear optimistic on long-term outlook despite current economic headwinds
By The Canadian Press on February 22nd, 2023
MONTREAL – Gildan Activewear Inc. is predicting single-digit revenue growth for this year as it faces short-term economic challenges, but is optimistic about its longer-term outlook. “We feel cautiously optimistic despite ongoing uncertainty,” said executive vice-president Rhodri J. Harries on a call with analysts. “In the first part of 2023 we expect continued headwinds … ... Read More »
1 responseCRTC to require service providers to notify agency within two hours of outage
By The Canadian Press on February 22nd, 2023
OTTAWA – Canada’s telecommunications regulator is directing all service providers to notify it within two hours when they become aware of an outage to their networks. The Canadian Radio-television and Telecommunications Commission (CRTC) says the directive is the first step of a new consultation it is launching aimed at enhancing the resilience and reliability of ... Read More »
1 responseCanadian auto production rose in 2022 to break streak of declines: DesRosiers
By The Canadian Press on February 22nd, 2023
TORONTO – DesRosiers Automotive Consultants Inc. says Canadian auto production rose last year to break a five-year streak of declining output. The consultancy says total light vehicle production totalled 1.24 million units in 2022, an increase of 12 per cent from a year earlier. Auto production took a major hit during the COVID-19 pandemic as ... Read More »
1 responseEU carbon price passes symbolic 100 euros as reforms bite
By Frank Jordans, The Associated Press on February 22nd, 2023
BERLIN (AP) – The price of releasing planet-heating carbon into the atmosphere rose above 100 euros (about $107) in the European Union for the first time this week, a signal that experts said Wednesday speaks for the bloc’s efforts to make polluting costlier. The EU has laid down a path to become carbon neutral by ... Read More »
1 responseNew Netflix password sharing rules likely to be repeated by other streamers: experts
By The Canadian Press on February 22nd, 2023
TORONTO – Canadians who spent the month sorting out how to untangle Netflix accounts shared by loved ones after new policies came into effect this week should get used to the debacle. Experts say the streaming giant’s rivals are bound to follow Netflix in limiting the unfettered password sharing that has allowed friends, family members ... Read More »
1 responseS&P/TSX composite down in late-morning trading, U.S. stock markets edge higher
By The Canadian Press on February 22nd, 2023
TORONTO – Canada’s main stock index was lower in late-morning trading, weighed down by losses in the energy, base metal and financial sectors, while U.S. stock markets crept higher. The S&P/TSX composite index was down 43.16 points at 20,209.48. In New York, the Dow Jones industrial average was up 22.34 points at 33,151.93. The S&P ... Read More »
Be the first to comment!Freshii announces sale to franchisor Foodtastic complete
By The Canadian Press on February 22nd, 2023
TORONTO – The sale of Freshii Inc. to Montreal-based Foodtastic Inc. is complete. In a deal originally announced in December, the healthy fast-food chain says Foodtastic has acquired all of its voting shares at $2.30 per share. The shares are expected to be delisted from the Toronto Stock Exchange by Thursday. Freshii joins Second Cup, ... Read More »
Be the first to comment!Wall Street opens tentatively higher, a day after pullback
By Yuri Kageyama And Matt Ott, The Associated Press on February 22nd, 2023
NEW YORK (AP) – Stocks are edging higher on Wall Street as a slight pullback in bond yields brought some relief to the market. The S&P 500 was up 0.1% early Wednesday. The Nasdaq and the Dow were also higher. The modest gains came a day after stocks tumbled to their biggest loss since December ... Read More »
Be the first to comment!Cannabis companies weigh pricing strategies after OCS margin cut
By Tara Deschamps, The Canadian Press on February 22nd, 2023
TORONTO – Canopy Growth Corp. will hold its prices as licensed pot producers weigh whether to pass along to consumers the savings from the Ontario Cannabis Store’s forthcoming margin decrease. The Smiths Falls, Ont. cannabis company behind the Tweed, Ace Valley and 7Acres brands isn’t budging on what it will charge because the pot market ... Read More »
Be the first to comment!Taseko Mines to increase its stake in the Gibraltar copper mine in B.C.
By The Canadian Press on February 22nd, 2023
VANCOUVER – Taseko Mines Ltd. says it has signed a deal to increase its stake in its Gibraltar copper mine in B.C. in an agreement worth at least $60 million. Under the terms of the deal, Taseko will acquire Sojitz Corp.’s 50 per cent stake in Cariboo Copper Corp. which holds a 25 per cent ... Read More »
Be the first to comment!Ritchie Bros. Auctioneers reports Q4 profit and revenue up from year ago
By The Canadian Press on February 22nd, 2023
VANCOUVER – Ritchie Bros. Auctioneers Inc. reported its fourth-quarter profit and sales were up compared with a year earlier. The company, which keeps its books in U.S. dollars, reported a profit of $45.3 million or 40 cents per diluted share for the quarter ended Dec. 31, up from a profit of $30.6 million or 27 ... Read More »
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