Business
Royal Canadian Mint temporarily lays off 56 workers at its Winnipeg facility
By The Canadian Press on February 12th, 2023
WINNIPEG – The Royal Canadian Mint says it’s temporarily laying off 56 employees at its Winnipeg facility. In a statement, the Mint says “prolonged effects of the pandemic and ongoing geopolitical instability” are disrupting global markets, which it says is limiting demand for coins it makes for other countries. It says it believes the disruption ... Read More »
Be the first to comment!Regulator reining in Greatway’s multiple levels of questionable insurance marketing
By Ian Bickis, The Canadian Press on February 12th, 2023
TORONTO – Life insurance for a baby might sound a little off, but fast-growing Greatway Financial Inc. says it’s never too early to sign up. The Calgary-based company, which sells policies on behalf of insurers across Canada, puts much of its focus on the investment side of life insurance plans, billing them as a tax-sheltered ... Read More »
1 responseBed Bath & Beyond Canada granted creditor protection, retailer winding down
By The Canadian Press on February 10th, 2023
TORONTO – Bed Bath & Beyond Canada Ltd. was granted an initial order for creditor protection by the Ontario Superior Court of Justice Friday under the Companies’ Creditors Arrangement Act, according to the company acting as the court-appointed monitor for the case. Court documents posted to Alvarez & Marsal Canada Inc.’s website say Bed Bath ... Read More »
Be the first to comment!Magna shares close down 17% after Q4 results hit by production volatility, costs
By Ian Bickis, The Canadian Press on February 10th, 2023
TORONTO – Shares of Magna International Inc. closed down 17 per cent Friday after fourth-quarter results, hit by production volatility and other costs, came in below expectations. “2022 was another difficult year for the automotive industry and for Magna,” said company chief executive Swamy Kotagiri on an earnings call with analysts. Supply disruptions that were ... Read More »
1 responseS&P/TSX composite largely unchanged Friday; U.S. markets mixed
By Rosa Saba, The Canadian Press on February 10th, 2023
TORONTO – Canada’s main stock index was largely unchanged Friday with gains in industrials and energy partially offset by weakness in technology and metals, while U.S. markets were mixed. The S&P/TSX composite index was up 14.37 points at 20,612.12. Friday saw the end of a relatively tepid week, said Craig Fehr, investment strategist at Edward ... Read More »
1 responseU.S. downs new ‘object’ off Alaskan coast, not far from Canadian border: White House
By James McCarten, The Canadian Press on February 10th, 2023
WASHINGTON – A U.S. fighter jet shot an unknown object out of the sky Friday off the coast of Alaska not far from the Canadian border, White House officials confirmed, just hours after Canada’s defence minister met with her American counterpart at the Pentagon. National Security Council co-ordinator John Kirby confirmed the latest encounter and ... Read More »
1 responseWall Street ekes out modest gains, still falls for the week
By Stan Choe, The Associated Press on February 10th, 2023
NEW YORK (AP) – Stocks drifted to a mostly higher close on Wall Street but still closed out their worst week since December. The S&P 500 rose 0.2% Friday. Weakness in tech stocks pulled the Nasdaq composite down 0.6% while the Dow closed 0.5% higher. Energy companies rose with the price of crude oil. Stocks ... Read More »
1 responseWestJet pilots file for federal conciliation; months of contract talks unsuccessful
By The Canadian Press on February 10th, 2023
CALGARY – The union that represents pilots at WestJet says it is asking for federal assistance after months of failing to reach a contract agreement with the airline. The WestJet Master Executive Council, represented by the Air Line Pilots Association, International (ALPA), says it has filed a request for conciliation assistance with the Federal Mediation ... Read More »
Be the first to comment!New Enbridge CEO says Canada is missing opportunities as world cries out for energy
By The Canadian Press on February 10th, 2023
CALGARY – The new CEO of pipeline giant Enbridge Inc. says regulatory uncertainty in this country has resulted in a “lost decade” for Canadian liquefied natural gas production. Greg Ebel, who took the reins from outgoing Enbridge CEO Al Monaco last month, says the company’s pipelines currently supply natural gas to five operating LNG export ... Read More »
Be the first to comment!Indigo offers fresh details on cyberattack as profit slips in latest quarter
By Brett Bundale, The Canadian Press on February 10th, 2023
Canadian bookstore chain Indigo Books & Music Inc. offered fresh details about an ongoing cyberattack on Friday as the company discussed its rocky third-quarter results, which saw the company’s profit and sales slip amid softening consumer demand. “We felt the adverse impact of inflationary pressures on consumer behaviour,” Indigo CEO Peter Ruis said during a ... Read More »
Be the first to comment!Rural Nova Scotians want compensation from power utility and a more resilient grid
By Michael Tutton, The Canadian Press on February 10th, 2023
HALIFAX – Residents of a rural Cape Breton community that has lost power during cold and windy weather are looking for compensation from the utility – and a grid designed for the changing climate. Parker Donham, a resident of Boularderie Island, says he and other residents who suffered property damage due to power failures are ... Read More »
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