Business
Ontario Cannabis Store reducing price margins to help pot businesses compete
By Tara Deschamps, The Canadian Press on February 16th, 2023
TORONTO – The Ontario Cannabis Store says it will be reducing its price margins in a bid to help pot retailers compete with the illicit market. The provincial pot distributor announced the margin change Thursday, saying it will be implemented in September. The OCS estimates the move will put $35 million back in the hands ... Read More »
1 responseOntario Cannabis Store reduces price margins to help pot shops compete
By The Canadian Press on February 16th, 2023
TORONTO – The Ontario Cannabis Store says it will be reducing its price margins in a bid to help pot retailers compete with the illicit market. The provincial pot distributor says the pricing changes will be implemented in September and will contribute about $35 million into the marketplace this fiscal year. The OCS expects the ... Read More »
Be the first to comment!Wholesale price pressures emerge despite long-term slowdown
By Paul Wiseman, The Associated Press on February 16th, 2023
WASHINGTON (AP) – Wholesale prices in the United States reaccelerated in January, indicating that inflation pressures continue to underlie the U.S. economy despite longer-term signs of improvement. From December to January, the government’s producer price index jumped 0.7%, driven up in part by a 5% surge in energy prices. That increase compared with a 0.2% ... Read More »
Be the first to comment!Canadian Press NewsAlert: OCS reduces price margins to help pot shops compete
By The Canadian Press on February 16th, 2023
TORONTO – The Ontario Cannabis Store says it will be reducing its price margins in a bid to help pot retailers compete with the illicit market. The provincial pot distributor says the pricing changes will be implemented in September and will contribute about $35 million into the marketplace this fiscal year and $60 million the ... Read More »
Be the first to comment!Spousal RRSPs can offer tax benefits, but experts say it might not work for everyone
By Craig Wong, The Canadian Press on February 16th, 2023
OTTAWA – Canadian couples looking to save money in retirement may turn to spousal RRSP accounts, though financial experts caution it might not work for everyone. Aba Quarshie, a financial planner at RBC in Almonte, Ont., said in order for a couple to benefit from a spousal RRSP there generally need to be differences between ... Read More »
Be the first to comment!Wall Street opens lower on worries about inflation, rates
By Yuri Kageyama And Matt Ott, The Associated Press on February 16th, 2023
NEW YORK (AP) – Stocks are falling in early trading on Wall Street on worries that inflation is remaining hotter than hoped. The S&P 500 was 1.3% lower after a report showed that inflation at the wholesale level slowed by less last month than economists forecast. Treasury yields rose. Markets have been churning recently as ... Read More »
Be the first to comment!Oppose Canada’s ‘xenophobic’ foreign property tax, U.S. critics urge Biden admin
By The Canadian Press on February 16th, 2023
WASHINGTON – A New York congressman wants to enlist the U.S. secretary of state to oppose what he calls Ottawa’s “discriminatory” campaign against foreign property owners. Rep. Brian Higgins is asking Secretary of State Antony Blinken to officially object to Canada’s new federal tax on underused, foreign-owned housing, which is coming due in April. The ... Read More »
Be the first to comment!Weekly jobless applications fall again despite Fed rate push
By Matt Ott, The Associated Press on February 16th, 2023
Fewer Americans filed for jobless benefits last week despite efforts by the Federal Reserve to loosen the labor market with higher interest rates as it tries to cool the economy. Applications for jobless aid in the U.S. for the week ending Feb. 11 fell by 1,000 last week to 194,000, from 195,000 the previous week, ... Read More »
Be the first to comment!Jobless applications fall again despite Fed push on rates
By Matt Ott, The Associated Press on February 16th, 2023
Fewer Americans filed for jobless benefits last week despite efforts by the Federal Reserve to loosen the labor market with higher interest rates in its bid to slow the economy. Applications for jobless aid in the U.S. for the week ending Feb. 11 fell by 1,000 last week to 194,000, from 195,000 the previous week, ... Read More »
Be the first to comment!US wholesale inflation slows, but price pressures re-emerge
By Paul Wiseman, The Associated Press on February 16th, 2023
WASHINGTON (AP) – Wholesale prices in the United States surged 6% in January from a year earlier, decelerating for a seventh straight month. But on a month-to-month basis, prices reaccelerated in January, indicating that inflation pressures continue to underlie the U.S. economy. The latest year-over-year wholesale inflation figure was down from 6.5% in December and ... Read More »
Be the first to comment!RioCan Real Estate Investment Trust raises monthly distributions, reports Q4 loss
By The Canadian Press on February 16th, 2023
TORONTO – RioCan Real Estate Investment Trust raised its payment to unitholders as it reported a loss of $5 million in its fourth quarter. The real estate trust says it will now pay a monthly distribution of nine cents per unit, up from 8.5 cents. The new payment rate came as RioCan says it lost ... Read More »
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