Business
Decision on new Suncor CEO expected ‘very soon’
By Amanda Stephenson, The Canadian Press on February 15th, 2023
CALGARY – Suncor Energy Inc. did not announce the name of its new CEO on its fourth-quarter earnings call Wednesday, though interim chief executive Kris Smith said a decision is expected “very soon.” The Calgary-based oil producer and refiner has been on the hunt for a new CEO ever since former chief executive Mark Little ... Read More »
Be the first to comment!January home sales in Canada see lowest level since 2009
By The Canadian Press on February 15th, 2023
OTTAWA – Home sales in January were the lowest for the month since 2009 and down 37.1 per cent compared with a year ago, the Canadian Real Estate Association said Wednesday. The drop came as January sales also fell on a month-over-month basis as they dropped three per cent compared with December. CREA said the ... Read More »
1 responseStocks slip on Wall Street amid fears about inflation, rates
By Joe Mcdonald, The Associated Press on February 15th, 2023
NEW YORK (AP) – Stocks are slipping on Wall Street after a report showed U.S. shoppers opened their wallets at retail stores last month by much more than expected. The S&P 500 was 0.5% lower in early trading Wednesday. The Dow and the Nasdaq also fell. The surprisingly strong report offers hope that the most ... Read More »
1 responseCREA reports worst January for home sales since 2009 as sales fall
By The Canadian Press on February 15th, 2023
OTTAWA – The Canadian Real Estate Association says homes sales in January were the lowest for the month since 2009 and fell 37.1 per cent compared with a year ago. The drop came as January sales were also down on a month-over-month basis as they dropped three per cent compared with December. CREA says the ... Read More »
1 responseCanadian Press NewsAlert: Worst January for home sales since 2009, CREA reports
By The Canadian Press on February 15th, 2023
OTTAWA – The Canadian Real Estate Association says homes sales in January were the lowest for the month since 2009 and fell 37.1 per cent compared with a year ago. The drop came as January sales were also down on a month-over-month basis as they dropped three per cent compared with December. More coming... Read More »
1 responseStatistics Canada reports manufacturing and wholesale sales down in December
By The Canadian Press on February 15th, 2023
OTTAWA – Statistics Canada says manufacturing sales fell for a second consecutive month in December as they dropped 1.5 per cent to $71.0 billion. The agency says manufacturing sales were down in 14 of 21 industries in December, led by a 6.4 per cent drop in petroleum and coal product sales and a 7.5 per ... Read More »
1 responseCMHC says annual rate of housing starts slowed 13 per cent in January
By The Canadian Press on February 15th, 2023
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts fell 13 per cent in January. The national housing agency says the seasonally adjusted annual rate of housing starts for the first month of the year was 215,365 units compared with 248,296 in December. The result came as the annual rate ... Read More »
Be the first to comment!Retail sales jump as Americans defy inflation and rate hikes
By Christopher Rugaber, The Associated Press on February 15th, 2023
WASHINGTON (AP) – America’s consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy’s resilience in the face of higher prices and multiple interest rate hikes by the Federal Reserve. The government said Wednesday that retail ... Read More »
Be the first to comment!Barrick Gold reports US$735M Q4 loss compared with $726M profit a year earlier
By The Canadian Press on February 15th, 2023
TORONTO – Barrick Gold Corp. reported a US$735-million loss in its fourth quarter compared with a profit of US$726 million in the same quarter a year earlier. The gold miner, which reports its results in U.S. dollars, says the loss amounted to 42 cents per diluted share for the quarter ended Dec. 31 compared with ... Read More »
Be the first to comment!Elon Musk hopes to have Twitter CEO toward the end of year
By Jon Gambrell, The Associated Press on February 14th, 2023
DUBAI, United Arab Emirates (AP) – Billionaire Elon Musk said Wednesday that he anticipates finding a CEO for Twitter “probably toward the end of this year.” Speaking via a video call to the World Government Summit in Dubai, Musk said making sure the platform can function remained the most important thing for him. “I think ... Read More »
Be the first to comment!Suncor’s fourth-quarter profits increase 76 per cent to $2.74 billion
By The Canadian Press on February 14th, 2023
CALGARY – Suncor Energy Inc. says it earned $2.74 billion in the fourth quarter of 2022, a 76 per cent increase from the $1.55 billion it earned in the same three months of 2021. The Calgary-based company says its increased profit was due to the higher price of crude and refined product realizations as well ... Read More »
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