Business
Food prices continue to climb despite overall inflation easing
By The Canadian Press on February 21st, 2023
TORONTO – The cost of food continues to climb despite overall inflation easing, but experts predict grocery prices will begin to stabilize this year as supply chains return to pre-pandemic levels. The latest inflation data from Statistics Canada shows food prices grew by 10.4 per cent year-over-year in January. That includes an 11.4 per cent ... Read More »
1 responseCanada’s annual inflation rate slowed in January, serving good news for the BoC
By Nojoud Al Mallees, The Canadian Press on February 21st, 2023
OTTAWA – The annual inflation rate slowed more than expected in January, suggesting the Bank of Canada will stick to its decision to pause interest rate hikes as an overheated economy cools. In its consumer price index report released Tuesday, Statistics Canada said the deceleration in headline inflation to to 5.9 per cent in January ... Read More »
1 response4-day workweek trial: Shorter hours, happier employees
By Courtney Bonnell, The Associated Press on February 21st, 2023
LONDON (AP) – Work less, get more. A trial of a four-day workweek in Britain, billed as the world’s largest, has found that an overwhelming majority of the 61 companies that participated from June to December will keep going with the shorter hours and that most employees were less stressed and had better work-life balance. ... Read More »
1 response4-day workweek trial in UK: Shorter hours, happier employees
By The Associated Press on February 21st, 2023
LONDON (AP) – Work less, get more. A trial of a four-day workweek in Britain, billed as the world’s largest, has found that an overwhelming majority of the 61 companies that participated over six months last year will keep going with the shorter hours and that most employees were less stressed and burned out and ... Read More »
Be the first to comment!S&P/TSX composite down nearly 200 points, U.S. stocks also fall
By The Canadian Press on February 21st, 2023
TORONTO – Canada’s main stock index was down nearly 200 points as losses in the technology sector helped lead a broad-based decline, while U.S. stock markets also fell. The S&P/TSX composite index was down 192.25 points at 20,322.99. In New York, the Dow Jones industrial average was down 519.64 points at 33,307.05. The S&P 500 ... Read More »
Be the first to comment!The cost of these grocery items went down in January
By The Canadian Press on February 21st, 2023
Statistics Canada said Tuesday that January’s grocery prices were up 11.4 per cent from a year ago and 11 per cent from December, even as the country’s annual inflation rate slowed to 5.9 per cent last month. While many Canadians have lamented higher prices at the grocery store, the federal data agency found a few ... Read More »
Be the first to comment!US home sales fell again in January; prices edged higher
By Alex Veiga, The Associated Press on February 21st, 2023
LOS ANGELES (AP) – The nation’s housing slump deepened in January as home sales fell for the 12th consecutive month to the slowest pace in more than a dozen years. The National Association of Realtors said Tuesday that existing U.S. home sales fell to a seasonally adjusted annual rate of 4 million properties last month. ... Read More »
Be the first to comment!How young Canadians are taking care of their mental well-being on a budget
By Noushin Ziafati, The Canadian Press on February 21st, 2023
It’s no secret that financial stress can take a toll on your mental health – especially at a time when Canada’s inflation rate remains high, layoffs are making headlines and there is talk of a looming recession. Nearly one in four Canadians rank money as their top source of stress, nearly twice as much as ... Read More »
Be the first to comment!Molson Coors reports higher sales in its latest quarter amid net loss
By The Canadian Press on February 21st, 2023
MONTREAL – Molson Coors Beverage Co. reported a net loss US$590.5 million in its latest quarter, down from a profit of US$80 million in the same period a year ago. The brewer, which reports in U.S. dollars, says its results amounted to a loss of US$2.73 per diluted share in the fourth quarter, compared with ... Read More »
Be the first to comment!Canada’s annual inflation rate slowed in January but grocery prices are still soaring
By Nojoud Al Mallees, The Canadian Press on February 21st, 2023
OTTAWA – Canada’s annual inflation rate slowed to 5.9 per cent in January, despite grocery prices rising at an even faster pace last month. In its consumer price index report released Tuesday, Statistics Canada said the deceleration in headline inflation from 6.3 per cent in December reflects a base-year effect. A base-year effect refers to ... Read More »
Be the first to comment!Wall Street opens lower to start holiday-shortened week
By Yuri Kageyama And Matt Ott, The Associated Press on February 21st, 2023
NEW YORK (AP) – Stocks are falling on Wall Street amid worries about upcoming profits for companies and the tightening squeeze of higher interest rates. The S&P 500 was 0.9% lower early Tuesday after being closed Monday for Presidents Day. The Nasdaq composite and the Dow also fell. Home Depot and Walmart both fell despite ... Read More »
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