Business
West Fraser Timber reports loss in Q4 as interest rates weigh on U.S. construction
By The Canadian Press on February 14th, 2023
VANCOUVER – West Fraser Timber Co. Ltd. says it saw losses of US$94 million in the fourth quarter of 2022, down more than 128 per cent from earnings of US$334 million during the same quarter a year earlier. The company, which reports in U.S. dollars, says in the fourth quarter it faced dampened new home ... Read More »
Be the first to comment!First Quantum Minerals sees earnings rise in 2022 despite drop in fourth quarter
By The Canadian Press on February 14th, 2023
TORONTO – First Quantum Minerals Ltd. says it earned US$117 million in the fourth quarter of 2022, 52.6 per cent down from US$247 million in the same quarter a year earlier, due to significantly lower cash flows from operating activities, which the company attributes to working capital movements related to trade and other receivables. The ... Read More »
Be the first to comment!S&P/TSX composite largely unchanged Tuesday, U.S. markets mixed
By Rosa Saba, The Canadian Press on February 14th, 2023
TORONTO – Canada’s main stock index was largely unchanged Tuesday as small gains in energy helped outweigh softness in financials and industrials, while U.S. markets were mixed. The S&P/TSX composite index was up 2.56 points at 20,704.79. In New York, the Dow Jones industrial average was down 156.66 points at 34,089.27. The S&P 500 index ... Read More »
Be the first to comment!Credit, debit info and Plum points not compromised in cybersecurity incident: Indigo
By The Canadian Press on February 14th, 2023
TORONTO – Indigo Books & Music Inc. says customer credit and debit information was not compromised by a recent cybersecurity incident that has downed its online operations for almost a week. The books and home goods retailer says in a new notice on its website that information linked to the cards was not compromised because ... Read More »
Be the first to comment!Stocks end mixed after inflation cools by less than hoped
By Stan Choe, The Associated Press on February 14th, 2023
NEW YORK (AP) – Stocks ended mixed on Wall Street following several sharp reversals after a report suggested inflation may not be slowing as quickly and as smoothly as hoped. The S&P 500 closed virtually unchanged Tuesday after swinging between losses and gains throughout the day. The Nasdaq composite rose 0.6% and the Dow fell ... Read More »
Be the first to comment!Pandemic benefits reduced child poverty, government should build on success: report
By The Canadian Press on February 14th, 2023
OTTAWA – A new report says pandemic benefits rolled out to cushion the blow of COVID-19 lockdowns significantly reduced the child poverty rate. The analysis by the anti-poverty group Campaign 2000 says in 2020 13.5 per cent of Canadian children were living in poverty. That is down from 17.7 per cent in 2019, and 24.2 ... Read More »
1 responseWhat tech layoffs, temporary foreign workers and boomers mean for the labour force
By Tara Deschamps, The Canadian Press on February 14th, 2023
TORONTO – Canada’s economy has seen a constant stream of layoffs hitting companies from the tech sector and beyond in recent months while many employers lament a shortage of workers, but neither seem to be weighing heavily on the country’s jobs numbers. Statistics Canada’s latest labour force survey said Friday that January’s unemployment rate held ... Read More »
1 responseProfit slips for Tim Hortons restaurant owners amid high commodity costs, inflation
By Brett Bundale, The Canadian Press on February 14th, 2023
Tim Hortons’ parent company released new financial figures on Tuesday for the coffee and doughnut chain’s locations in Canada that appear to illuminate concerns raised by some franchisees about restaurant-level profitability. Restaurant Brands International Inc. said the average Tim Hortons restaurant in Canada made $220,000 last year in earnings before interest, taxes, depreciation and amortization ... Read More »
1 responseTC Energy reports Q4 loss due to rising costs of Coastal GasLink
By Amanda Stephenson, The Canadian Press on February 14th, 2023
CALGARY – TC Energy Corp. expects to be able to indicate this summer whether it will complete the Coastal GasLink pipeline by its end-of-year target or not. The Calgary-based pipeline company, which has been dogged by unexpected construction issues and rising labour costs for the project, said earlier this month that it has raised the ... Read More »
1 responseFiling taxes for the first time? Here’s what you need to know
By Rosa Saba, The Canadian Press on February 14th, 2023
A few years ago, Ali Najaf decided to file his taxes on his own for the first time. Najaf, an HR professional in Vancouver, used a free service in university for tax filing, and then after graduation began paying a professional to file them. But in 2021, he thought it would be useful to learn ... Read More »
1 responseStocks open lower after inflation is hotter than expected
By Yuri Kageyama And Matt Ott, The Associated Press on February 14th, 2023
NEW YORK (AP) – Stocks are opening lower on Wall Street and Treasury yields are rising after a highly anticipated report on consumer inflation came in hotter than expected, though it still marked another slowdown. The S&P 500 fell 0.6% in the early going Tuesday, and the tech-heavy Nasdaq composite lost 0.8%. The Dow gave ... Read More »
1 response
