Business
Wall Street rises ahead of hotly anticipated inflation data
By Stan Choe, The Associated Press on February 13th, 2023
NEW YORK (AP) – Wall Street closed higher as traders made their final moves in anticipation of a report that could show whether inflation is cooling in the right way or setting the market up for worse pain. The S&P 500 rose 1.1% Monday. A report on Tuesday will show how bad inflation was at ... Read More »
1 responseNew federal telecom policy will require CRTC to enact rules to improve competition
By The Canadian Press on February 13th, 2023
OTTAWA – The final version of a new telecom policy directive first unveiled by the federal government in May of last year is now in force. The federal government says its new directive to the Canadian Radio-television and Telecommunications Commission (CRTC) means the agency must put in place new rules to improve competition in the ... Read More »
1 responseOntario Power Generation buying GM Canada’s former head office building
By The Canadian Press on February 13th, 2023
TORONTO – Ontario Power Generation says it has signed a deal to buy the former head office building for General Motors of Canada in Oshawa, Ont., and plans to use it for its own corporate headquarters. Financial terms of the deal were not immediately available. OPG says the building will be retrofitted before it moves ... Read More »
Be the first to comment!Indigo cyberattack highlights mounting prevalence, sophistication of hackers: Experts
By Brett Bundale, The Canadian Press on February 13th, 2023
A cybersecurity incident stretching into its fifth day at Indigo Books & Music Inc. has illuminated the increasing risk of cyberattacks on Canadian companies and consumers, experts say. The ongoing outage of the bookstore’s website serves as a warning of the mounting dangers facing organizations and individuals online, they say. “These attacks are becoming more ... Read More »
Be the first to comment!S&P/TSX composite up nearly 100 points in late-morning trading, U.S. markets also up
By The Canadian Press on February 13th, 2023
TORONTO – Strength in the technology, financial and base metal sectors helped Canada’s main stock index gain nearly 100 points in late-morning trading, while U.S. stock markets also pushed higher. The S&P/TSX composite index was up 98.09 points at 20,710.21. In New York, the Dow Jones industrial average was up 273.34 points at 34,142.61. The ... Read More »
1 responseJason Stoicevich to lead Canadian operations for Stellantis
By The Canadian Press on February 13th, 2023
WINDSOR, Ont. – Stellantis North America says Jason Stoicevich will take over the leadership of its Canadian operations, effective immediately. Stoicevich replaces David Buckingham, current lead for operations in Canada, who will retire at the end of May Stellantis includes the Jeep, Chrysler, Dodge, Ram, Alfa Romeo and Fiat brands. Stoicevich will report to Mark ... Read More »
1 responseDye & Durham reports $34.8M quarterly loss, revenue down from year ago
By The Canadian Press on February 13th, 2023
TORONTO – Dye & Durham Ltd. reported a net loss of $34.8 million in its latest quarter as its revenue edged down three per cent compared with a year ago. The legal software company says the loss amounted to 52 cents per diluted share for the quarter ended Dec. 31. The result compared with a ... Read More »
Be the first to comment!Indigo website outage stretches into fifth day but payment system back up and running
By The Canadian Press on February 13th, 2023
TORONTO – Indigo Books & Music Inc. says it’s once again able to accept debit, credit and gift cards in stores. The bookstore chain was only able to accept cash for in-store purchases after a cybersecurity incident knocked out its electronic payment system and website last Wednesday. The company’s website remains offline. On social media, ... Read More »
1 responseWall Street opens higher after worst week since December
By Joe Mcdonald, The Associated Press on February 13th, 2023
NEW YORK (AP) – Stocks are opening modestly higher on Wall Street as investors brace for more data on inflation and earnings reports from big U.S. companies. The S&P 500 was up 0.2% in the early going Monday. The benchmark index is coming off its biggest weekly decline in two months. The Nasdaq composite gave ... Read More »
1 responseB2Gold signs agreement to buy Sabina Gold and Silver for $1.1B in all-stock deal
By The Canadian Press on February 13th, 2023
VANCOUVER – B2Gold Corp. has signed a deal to buy Sabina Gold and Silver Corp. in an all-stock deal valued at $1.1 billion. Sabina owns the Back River gold district in Nunavut including five mineral claims across an 80-kilometre belt. The company’s Goose project in the district is fully permitted and construction ready. Under the ... Read More »
Be the first to comment!Ritchie Bros. Q4 profit expected to be between US$42M and US$45M
By The Canadian Press on February 13th, 2023
VANCOUVER – Ritchie Bros. Auctioneers Inc. says it expects its fourth-quarter profit to come in between US$42 million and US$45 million. In its preliminary results for the quarter ended Dec. 31, the company, which keeps its books in U.S. dollars, says it expects total revenue of about US$444 million. For the full year, Ritchie Bros. ... Read More »
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