Business
West Fraser Timber Co. to temporarily curtail operations at Quesnel, B.C., mill
By The Canadian Press on February 7th, 2023
VANCOUVER – West Fraser Timber Co. says it’s curtailing operations at Cariboo Pulp & Paper in Quesnel, B.C., beginning in mid-April for one month and then for another month in the third quarter. The Vancouver-based company says the decision is the result of a decline in availability of sawmill residuals, which it says is due ... Read More »
Be the first to comment!Premium tickets or discounts? Cineplex CEO ‘experiments’ with ticket price
By David Friend, The Canadian Press on February 7th, 2023
TORONTO – While audiences rush back to theatres to catch “Avatar: The Way of Water” on pricey Imax screens, the head of Cineplex Inc. says he’s open to “experiments” with cheaper tickets for some movies if they might lure back people who are staying home. Chief executive Ellis Jacob said Canada’s biggest movie chain is ... Read More »
Be the first to comment!S&P/TSX composite up 100 points, U.S. markets post gains after Federal Reserve speech
By The Canadian Press on February 7th, 2023
TORONTO – Canada’s main stock index gained almost 100 points Tuesday as strong performance in the energy sector was dragged down by losses in telecom and utilities, while U.S. markets also rose. The S&P/TSX composite index was up 96.08 points at 20,725.00. In New York, the Dow Jones industrial average was up 265.67 points at ... Read More »
Be the first to comment!Montreal home sales down 36% from January 2022: Quebec real estate association
By The Canadian Press on February 7th, 2023
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal’s January home sales fell to a level not seen since 2009 as the market slowdown continued. The association says last month’s sales totalled 1,791, down 36 per cent from 2,816 in January 2022. Charles Brant, the association’s market analysis director, says these numbers ... Read More »
Be the first to comment!Stocks end higher after zig-zagging on Fed chair’s comments
By Stan Choe, The Associated Press on February 7th, 2023
NEW YORK (AP) – Stocks closed higher on Wall Street after the head of the Federal Reserve signaled last week’s stunningly strong jobs report isn’t likely to change where interest rates are heading on its own, as some investors had feared. The S&P 500 rose 1.3% Tuesday. The Nasdaq added 1.9% and the Dow rose ... Read More »
Be the first to comment!Toy company Spin Master behind powerhouse brands like Paw Patrol sees Q4 revenue drop
By The Canadian Press on February 7th, 2023
TORONTO – Toy maker Spin Master Corp. recorded a drop in revenue in its latest quarter after stores ordered inventory early to avoid supply shortages and high inflation took a toll on demand later in the year. Spin Master CEO and global president Max Rangel said Tuesday the company had an “exceptionally strong” first half ... Read More »
Be the first to comment!Cineplex lowers ticket prices for ’80 For Brady’ but CEO says it’s an ‘experiment’
By David Friend, The Canadian Press on February 7th, 2023
TORONTO – The head of Cineplex Inc. says he’s open to more experiments with ticket prices after charging less to see “80 For Brady” at its movie theatres proved a success on the opening weekend. Chief executive Ellis Jacob told The Canadian Press it might make sense to lower the cost of movie tickets in ... Read More »
Be the first to comment!Stocks drift after Fed cites long road ahead on inflation
By Stan Choe, The Associated Press on February 7th, 2023
NEW YORK (AP) – Stocks are drifting after Federal Reserve Chair Jerome Powell said progress is being made in the fight against inflation even after a stunningly strong jobs report last week, though a long battle remains. The S&P 500 was moving between small gains and losses in afternoon trading, after spiking briefly to a ... Read More »
Be the first to comment!Fed’s Powell: Strong hiring could force further rate hikes
By Christopher Rugaber, The Associated Press on February 7th, 2023
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that if the job market further strengthens in the coming months or inflation readings accelerate, the Fed might have to raise its benchmark interest rate higher than it now projects. Powell’s remarks followed the government’s blockbuster report last week that employers added 517,000 jobs in ... Read More »
Be the first to comment!Stocks drift; Fed’s Powell sees long road ahead on inflation
By Stan Choe, The Associated Press on February 7th, 2023
NEW YORK (AP) – Stocks are mixed on Wall Street after the Federal Reserve’s head said he still sees progress being made against inflation, even after a stunningly strong jobs report last week. The S&P 500 was 0.3% lower Tuesday afternoon, after spiking briefly to a big gain and then losing it all as Fed ... Read More »
Be the first to comment!Fed Chair Powell sees ‘significant’ inflation drop in 2023
By Christopher Rugaber, The Associated Press on February 7th, 2023
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell said Tuesday that last week’s blockbuster U.S. jobs report showed it would likely take time to curb high inflation but that he expects a “significant decline” in inflation this year. At the same time, Powell said the job market’s strength and the persistence of inflation pressures mean ... Read More »
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