Business
Stocks end mixed; S&P 500 posts 2nd straight weekly loss
By Stan Choe, The Associated Press on February 17th, 2023
NEW YORK (AP) – Stocks ended mixed on Wall Street after paring losses from the morning. The S&P 500 still posted its first back-to-back weekly declines since the turn of the year. The index lost 0.3% Friday. The Dow Jones Industrial Average rose, while the Nasdaq composite fell. Stocks have hit turbulence in February after ... Read More »
1 responseLiberals’ decision to invoke Emergencies Act justified, but ‘regrettable’ it happened
By Stephanie Taylor and David Fraser, The Canadian Press on February 17th, 2023
OTTAWA – The Public Order Emergency Commission said Friday the Liberal government met the “very high threshold” for invoking the Emergencies Act during the weeks-long “Freedom Convoy” protests last winter. The public inquiry also found that while the protest that blocked borders, clogged streets and led to sharp divides in public opinion was unlike anything ... Read More »
1 responseExcess household savings may help economy avoid harsher downturn: BMO
By Nojoud Al Mallees, The Canadian Press on February 17th, 2023
OTTAWA – High household savings in Canada and the U.S. may help both countries avoid a severe downturn as high interest rates ripple through the economy. Although pandemic savings have diminished significantly, many households still have above-average savings, says the report published Friday. Large savings were amassed by households during the pandemic as lockdowns restricted ... Read More »
1 responseAir Canada posts Q4 profit, offering new optimism after tough year for airline
By The Canadian Press on February 17th, 2023
MONTREAL – Air Canada’s comeback from pandemic shutdowns appears to be gaining momentum after the airline posted a profit in its latest quarter, offering hope the industry has turned a corner even as the country’s largest airline posted a $1.7 billion loss for the year. The company reported a $168-million profit for the three months ... Read More »
1 responseLiberals’ decision to invoke Emergencies Act justified, commission says
By The Canadian Press on February 17th, 2023
OTTAWA – The Public Order Emergency Commission says the Liberal government met the “very high threshold” for invoking the Emergencies Act amid the weeks-long “Freedom Convoy” protests last winter. In a report released today, Justice Paul Rouleau concludes a series of policing failures and a “failure of federalism” led to a protest that spun out ... Read More »
1 responseIndigo creates temporary website for browsing after cyberattack
By Tara Deschamps, The Canadian Press on February 17th, 2023
TORONTO – Indigo Books & Music Inc. has created a temporary website for its customers to browse for books and gifts after a cyberattack halted the company’s online operations last week. In a notice posted to the new site Friday titled “shop in store, window-shop online,” the Toronto-based retailer said the temporary website only allows ... Read More »
1 responseS&P/TSX composite down in late-morning trading, led by energy sector losses
By The Canadian Press on February 17th, 2023
TORONTO – Losses in the energy sector led Canada’s main stock index lower in late-morning trading, while U.S. stock markets also fell. The S&P/TSX composite index was down 91.61 points at 20,514.81. In New York, the Dow Jones industrial average was down 84.31 points at 33,612.39. The S&P 500 index was down 37.13 points at ... Read More »
Be the first to comment!Air Canada posts Q4 profit as passenger, operating revenues increase amid rebound
By The Canadian Press on February 17th, 2023
MONTREAL – Air Canada’s comeback from pandemic shutdowns appears to be gaining momentum after the airline posted a profit in its latest quarter as passenger and operating revenues recovered to record highs. The company reported a $168-million profit for the three months ending Dec. 31, a period that included the turbulent Christmas travel season and ... Read More »
Be the first to comment!High gas prices may have curbed downward inflation trend in January: economists
By Nojoud Al Mallees, The Canadian Press on February 17th, 2023
OTTAWA – Canada’s annual inflation rate has been slowing since the summer, but economists are predicting that higher fuel prices in January may have hindered that trend. Economists have been encouraged by recent month-to-month trends, which have shown prices have been rising at a slower pace. However, TD is forecasting price growth accelerated between December ... Read More »
Be the first to comment!Indigo creates temporary website for browsing after cybersecurity incident
By The Canadian Press on February 17th, 2023
TORONTO – Indigo Books & Music Inc. says it has created a temporary website for customers to use for browsing after a cybersecurity incident hit the company. In a notice posted to the new site, the Toronto-based books and home goods retailer says the temporary website only allows for browsing and Indigo purchases still cannot ... Read More »
Be the first to comment!Stocks slip as Wall Street heads for another losing week
By Elaine Kurtenbach And Matt Ott, The Associated Press on February 17th, 2023
NEW YORK (AP) – Stocks are falling again on Wall Street, on track for their first back-to-back weekly drop since the turn of the year. The S&P 500 was 0.5% lower in early trading Friday, a day after sliding to its worst loss in four weeks on worries that inflation isn’t slowing as quickly and ... Read More »
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