Business
S&P/TSX composite up more than 150 points Tuesday morning, U.S. markets also rise
By The Canadian Press on July 16th, 2024
TORONTO – Gains in technology and industrial stocks led Canada’s main stock index higher in late-morning trading on Tuesday, while U.S. stock markets also rose. The S&P/TSX composite index was up 169.74 points at 22,921.42. In New York, the Dow Jones industrial average was up 602.28 points at 40,814.00. The S&P 500 index was up ... Read More »
Be the first to comment!Analysts slash targets on Corus Entertainment amid uncertainty over its future
By The Canadian Press on July 16th, 2024
TORONTO – Corus Entertainment Inc. has been dealt a blow by several research analysts who have either cut their targets or stopped covering it altogether. CIBC Capital Markets says it is dropping coverage of the television and radio station owner because of the “material uncertainty” surrounding its equity value. CIBC says it does not expect ... Read More »
Be the first to comment!TC Energy’s US$15B Keystone XL claim thrown out by trade tribunal
By The Canadian Press on July 16th, 2024
CALGARY – A free trade arbitration tribunal has tossed out TC Energy Corp.’s claim that it is owed US$15 billion in damages as a result of U.S. President Joe Biden’s cancellation of the Keystone XL pipeline permit. TC Energy launched a claim in 2021 under the legacy rules tied to the old North American Free ... Read More »
Be the first to comment!Airfares continue to rise from last year — and soar above pre-pandemic levels
By The Canadian Press on July 16th, 2024
OTTAWA – Statistics Canada says airfares rose two per cent year-over-year in June, and continued to soar above pre-pandemic levels. Figures from the consumer price index show the increase follows a 4.5 per cent year-over-year bump in May and a fairly flat April. Prices also stood nearly 19 per cent above what travellers paid for ... Read More »
Be the first to comment!Snowball, avalanche or consolidate: How to choose the right debt repayment method
By Ritika Dubey, The Canadian Press on July 16th, 2024
While tackling any amount of debt is a feat, choosing an approach to pay off those loans that works best for you will make that journey a little bit easier. The first order of business on the path to being debt free is taking stock of how much you owe, said Stacy Yanchuk Oleksy, CEO ... Read More »
Be the first to comment!Retail sales unchanged in June from May, underscoring shoppers’ resilience
By Anne D'innocenzio, The Associated Press on July 16th, 2024
NEW YORK (AP) – Shoppers paused their spending in June from May, defying economic forecasts for a pullback and proving their resilience in the face of an uncertain economy Retail sales were unchanged in June from May, after being revised upward to a 0.3% increase in May, according to the Commerce Department. Last month, April ... Read More »
Be the first to comment!CMHC says annual pace of housing starts in June down 9% from May
By The Canadian Press on July 16th, 2024
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in June fell nine per cent compared with May. The housing agency says the seasonally adjusted annual rate of housing starts in June amounted to 241,672 units, down from 264,929 in May. The move came as actual housing starts were markedly ... Read More »
Be the first to comment!IMF’s economic view: Brighter outlook for China and India but tepid global growth
By Paul Wiseman, The Associated Press on July 16th, 2024
WASHINGTON (AP) – The International Monetary Fund is upgrading its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by stickier-than-expected inflation for services, from airline travel to restaurant meals. Overall, the IMF said ... Read More »
Be the first to comment!Retail sales unchanged in June from May as inflation moderates
By Anne D'innocenzio, The Associated Press on July 16th, 2024
NEW YORK (AP) – Shoppers paused their spending June from May as they wrestle with moderating inflation but still high interest rates that have made buying anything on credit more expensive. Retail sales were unchanged in June from May, after being revised upward at up 0.3% in May, according to the Commerce Department. Economists expected ... Read More »
Be the first to comment!Inflation falls to 2.7% in June, driven by slower growth in gas prices: StatCan
By The Canadian Press on July 16th, 2024
OTTAWA – Canada’s annual inflation rate fell to 2.7 per cent in June, with Statistics Canada largely attributing the deceleration to slower year-over-year growth in gasoline prices. The agency reported Tuesday that gasoline prices rose 0.4 per cent in June following a 5.6 per cent jump in May. Excluding gasoline, the consumer price index rose ... Read More »
Be the first to comment!Industry minister suggests Competition Bureau look at digital wallets
By Anja Karadeglija, The Canadian Press on July 16th, 2024
OTTAWA – Industry Minister François-Philippe Champagne says the issue of competition in the big tech-dominated digital wallet market should be on the Competition Bureau’s radar. In a letter to the bureau, Champagne points to other countries that are taking action to ensure no one entity dominates the space. In a deal approved last week, the ... Read More »
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