Business
Canadian Press NewsAlert: Hot economy, inflation were at crux of BoC’s rate decision
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 came after the central bank discussed the risk that inflation will get ... Read More »
1 responseGrammy-winning Canadian songwriter Tobias Jesso Jr. sells song catalogue to Hipgnosis
By David Friend, The Canadian Press on February 8th, 2023
TORONTO – Hot off winning two Grammys on Sunday, Canadian singer-songwriter Tobias Jesso Jr. has sold the rights for part of his song catalogue to a prominent music investment company. Hipgnosis Song Management says it has acquired full ownership of the North Vancouver native’s interest in publishing copyrights – including his share of performance rights ... Read More »
1 responsePrairies stand to benefit the most from boost to immigration target: Desjardins
By The Canadian Press on February 8th, 2023
OTTAWA – A new Desjardins report suggests Canada’s immigration target increase could spur economic growth, with the Prairies standing to benefit the most. Principal economist Marc Desormeaux says his analysis finds Canada’s plan to increase immigration could boost gross domestic product per capita if newcomers continue to have the same success getting work that they’ve ... Read More »
1 responseAuto industry leaders emphasize urgency of Canadian EV response as U.S. cash flows
By The Canadian Press on February 8th, 2023
TORONTO – Automotive industry leaders say the need for Canada to take action on the electric vehicle transition has taken on significantly greater urgency as money starts to flow in the U.S. from massive government incentives. Speaking at an electric vehicle conference in Toronto Wednesday, GM Canada president Marissa West says that sense of urgency ... Read More »
1 responseTim Hortons master franchisee in China enters deal to develop Popeyes in China
By The Canadian Press on February 8th, 2023
TORONTO – The parent company of the master franchisee of Tim Hortons coffee shops in China says it has signed a deal for the exclusive development of Popeyes in mainland China and Macau. TH International Ltd., often branded Tims China, says the transaction will be overseen by an independent audit committee and is subject to ... Read More »
1 responseBrookfield Asset Management fourth-quarter profit down from year ago
By The Canadian Press on February 8th, 2023
TORONTO – Brookfield Asset Management Ltd. says its share of the latest quarterly profit of the asset management business it owns with Brookfield Corp. amounted to US$19 million. It was the first quarterly report for the company that was spun off from Brookfield Corp. on Dec. 9, 2022. Brookfield Asset Management Ltd. owns 25 per ... Read More »
1 responseDefence, innovation ministers team up to sell D.C. on merits of working with Canada
By The Canadian Press on February 8th, 2023
WASHINGTON – Canada’s defence and economic development ministers are in the U.S. capital this week to remind lawmakers and military contractors about the economic virtues of cross-border collaboration. Anita Anand and François-Philippe Champagne say now more than ever, the world needs a tag-team, U.S.-Canada approach to fortifying North America’s defence industrial base. Anand says last ... Read More »
1 responseAuto prices to ease but affordability still a challenge with no quick fix: experts
By Ian Bickis, The Canadian Press on February 8th, 2023
TORONTO – Automakers have made high-profile price cuts for some of the most well-known electric cars this year, but experts say the overall sticker shock of buying vehicles will prove harder to remove. As anyone who’s shopped for a vehicle as of late likely knows, prices ran up considerably throughout the COVID-19 pandemic from the ... Read More »
1 responseWall Street opens lower as more earnings reports roll in
By Elaine Kurtenbach, The Associated Press on February 8th, 2023
NEW YORK (AP) – Stocks are opening modestly picky on Wall Street as traders absorb more earnings reports from big U.S. companies. Chipotle Mexican Grill sank after delivering a weak report card, while Uber rose after its results came in ahead of what analysts were expecting. The S&P 500 fell 0.3% in the early going ... Read More »
1 responseBrookfield Reinsurance to buy Argo for US$1.1 billion in cash
By The Canadian Press on February 8th, 2023
TORONTO – Brookfield Reinsurance has signed a deal to buy Argo Group International Holdings for US$1.1 billion in cash. Argo is a U.S. focused underwriter of specialty insurance products. Brookfield Reinsurance CEO Sachin Shah says Argo adds a key piece to the company’s expanding U.S. operations. Under the deal, each Argo common share will be ... Read More »
Be the first to comment!MH17 inquiry: ‘Strong indications’ Putin OK’d missile supply
By Mike Corder, The Associated Press on February 8th, 2023
THE HAGUE, Netherlands (AP) – An international team of investigators said Wednesday it found “strong indications” that Russian President Vladimir Putin approved the supply of heavy anti-aircraft weapons to Ukrainian separatists who shot down Malaysia Airlines flight MH17 in 2014 with a Russian missile. However, members of the Joint Investigation Team said they had insufficient ... Read More »
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