Business
Canadian clothing companies lack awareness of child labour risks: Report
By The Canadian Press on February 8th, 2023
OTTAWA – The Canadian Ombudsperson for Responsible Enterprise says Canadian clothing companies have limited awareness about whether child labour could be being used in their global supply chains. The government institutionsays in a new report that Canadian garment companies face challenges tracing their supply chains from origin to consumer, and aren’t always aware of what ... Read More »
Be the first to comment!Residents can return after air deemed safe from derailment
By The Associated Press on February 8th, 2023
EAST PALESTINE, Ohio (AP) – Evacuated residents can safely return to the Ohio village where crews burned toxic chemicals after a train derailed five days ago near the Pennsylvania state line, East Palestine Fire Chief Keith Drabick said Wednesday. Authorities in East Palestine had warned that burning vinyl chloride that was in five of the ... Read More »
Be the first to comment!S&P/TSX composite drifts lower Wednesday, U.S. markets also down
By The Canadian Press on February 8th, 2023
TORONTO – Losses in tech, utilities and industrials weighed down gains in some of the other sectors on Canada’s main stock index Wednesday, while U.S. markets were also down. The S&P/TSX composite index was down 45.46 points at 20,679.54. In New York, the Dow Jones industrial average was down 207.68 points at 33,949.01. The S&P ... Read More »
Be the first to comment!Stocks fall on Wall Street, giving back recent gains
By Stan Choe And Damian J. Troise, The Associated Press on February 8th, 2023
NEW YORK (AP) – Wall Street gave back some of its recent gains as uncertainty about interest rates and inflation continued to reign. The S&P 500 fell 1.1% Wednesday, the Nasdaq fell 1.7% and the Dow Jones Industrial Average gave back 0.6%. The losses followed another mixed set of earnings reports. Chipotle Mexican Grill sank ... Read More »
Be the first to comment!BoC considered not raising rates last month, but hot economy swayed decision
By Nojoud Al Mallees, The Canadian Press on February 8th, 2023
OTTAWA – The Bank of Canada contemplated not raising interest rates last month but with the economy outperforming expectations, its governing council ultimately decided in favour of one more rate hike before taking a pause. In its first-ever summary of deliberations, the Bank of Canada pointed to a tight labour market, strong GDP growth and ... Read More »
Be the first to comment!Zelenskyy seeks weaponry in surprise trips to London, Paris
By Jill Lawless And Silvie Corbet, The Associated Press on February 8th, 2023
PARIS (AP) – Ukrainian President Volodymyr Zelenskyy sought Western support for his country in surprise visits to Britain and France on Wednesday, pushing for fighter jets to battle Russian invaders in a dramatic speech to the U.K. Parliament and then flying to Paris to meet the French and German leaders over dinner at the Elysee ... Read More »
Be the first to comment!Five key takeaways from the BoC’s first summary of interest rate deliberations
By The Canadian Press on February 8th, 2023
OTTAWA – In a first for the Bank of Canada, it has released a summary of deliberations by its governing council regarding its policy decision to raise its key interest rate target by a quarter of a percentage point to 4.5 per cent in January. The bank’s governing council – made up of governor Tiff ... Read More »
Be the first to comment!Oil major TotalEnergies doubles annual profit to $36 billion
By The Associated Press on February 8th, 2023
PARIS (AP) – France’s TotalEnergies SE doubled its profits in 2022, joining other international oil and gas companies in fattening their bottom lines as high energy prices surged after Russia’s invasion of Ukraine. Adjusted net income rose to $36.2 billion, up from $18.1 billion in 2021, the company said Wednesday. Earnings benefited from robust refinery ... Read More »
Be the first to comment!CP NewsAlert: Netflix Canada begins password sharing crackdown
By The Canadian Press on February 8th, 2023
TORONTO – Netflix Canada says it will begin notifying subscribers today about new limitations around password sharing outside their households. Premium and standard account holders can add up to two members they don’t live with for an additional $7.99. The streaming service didn’t say when it would begin enforcing the new rules. More coming... Read More »
Be the first to comment!Labour shortages could push up wages, ‘reignite inflation’ in long run, report warns
By The Canadian Press on February 8th, 2023
TORONTO – A new report says a protracted labour shortage in Canada could fuel more rapid wage growth and inflation over time, potentially prompting the need for higher interest rates long-term. The RBC Economics report says wages are growing quickly in Canada, but so far not fast enough to match inflation. In November, for example, ... Read More »
Be the first to comment!Hot economy, inflation were at crux of BoC’s last rate decision: summary
By The Canadian Press on February 8th, 2023
OTTAWA – The Bank of Canada’s first-ever summary of deliberations reveals that the governing council ultimately decided to raise its key interest rate last month because of ongoing strength in the economy. The decision to hike by a quarter of a percentage point on Jan. 25 came after the central bank discussed the risk that ... Read More »
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