Business
Slowing growth a ‘good thing’ when economy is overheated: BoC’s Macklem
By The Canadian Press on February 7th, 2023
QUEBEC – Bank of Canada governor Tiff Macklem says that although a slowing economy may not seem like a good thing, it is when the economy is overheated. According to prepared remarks the governor is delivering to members of CFA Quebec in Quebec City today, Macklem says higher interest rates are working to cool the ... Read More »
Be the first to comment!UK energy giant BP’s profits double to $27.7 billion
By Danica Kirka, The Associated Press on February 7th, 2023
LONDON (AP) – British energy firm BP reported record annual earnings Tuesday, fueling demands that the U.K. government boost taxes for companies benefiting from the high price of oil and natural gas after Russia’s invasion of Ukraine. London-based BP said underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, ... Read More »
Be the first to comment!WestJet pilots at an ‘impasse’ with airline over contract talks: union
By The Canadian Press on February 7th, 2023
CALGARY – The union representing WestJet pilots says contract negotiations with the airline have been unproductive and federal arbitration may be needed to avert a strike. ALPA Canada, which represents approximately 1,800 pilots at WestJet and its low-cost subsidiary Swoop, says it has been negotiating with the Calgary-based company since September. It says the two ... Read More »
Be the first to comment!Luxury parka maker Canada Goose charts path to triple revenue in five years
By Brett Bundale, The Canadian Press on February 7th, 2023
Luxury outerwear maker Canada Goose Holdings Inc. has charted a new five-year growth path it says could nearly triple its annual revenue by 2028. The Canadian parka brand laid out an ambitious financial outlook and strategic plan on Tuesday that includes attracting more customers, adding new products and expanding into new markets. “We know how ... Read More »
Be the first to comment!Germany, Denmark, Netherlands pledge Ukraine Leopard 1 tanks
By Susie Blann, The Associated Press on February 7th, 2023
KYIV, Ukraine (AP) – Germany, Denmark and the Netherlands say they plan to provide Ukraine with at least 100 refurbished Leopard 1 battle tanks. The announcement Tuesday comes after Germany agreed last month to allow deliveries of the more modern Leopard 2 tanks to Ukraine. In a joint statement, the defense ministers of Denmark, Germany ... Read More »
Be the first to comment!S&P/TSX composite edges lower in late-morning trading, U.S. stocks mixed
By The Canadian Press on February 7th, 2023
TORONTO – Canada’s main stock index edged lower in late-morning trading as losses in the technology and utility sectors helped to more than offset gains in energy stocks, while U.S. stock markets were mixed. The S&P/TSX composite index was down 4.23 points at 20,624.69. In New York, the Dow Jones industrial average was down 120.45 ... Read More »
Be the first to comment!Canadian business insolvencies up 37.2% in 2022, consumer insolvencies up 11.2%
By The Canadian Press on February 7th, 2023
OTTAWA – The number of insolvencies filed by Canadian businesses in 2022 was up 37.2 per cent compared with 2021. The Office of the Superintendent of Bankruptcy says there were 3,402 business insolvencies last year, up from 2,480 in 2021. Business bankruptcies totalled 2,621 for the year, up from 1,942, while proposals filed by businesses ... Read More »
Be the first to comment!One-third of households say they’re financially worse off compared to year ago: poll
By The Canadian Press on February 7th, 2023
OTTAWA – A new poll finds one-third of Canadian households say their financial situation has worsened over the last year. According to a Leger poll commissioned by the Association for Canadian Studies, 34 per cent of Canadian households say they’re financially worse off compared with a year ago. The majority of respondents, 58 per cent, ... Read More »
1 responseLuxury parka maker Canada Goose to expand into eyewear, luggage and home categories
By The Canadian Press on February 7th, 2023
TORONTO – Canada Goose Holdings Inc. says it plans to build its customer base with a focus on women and generation Z and expand into new product categories like eyewear, luggage and home as it charts a new five-year growth path. In a financial outlook and strategic plan released Tuesday, the company says it also ... Read More »
1 responseAspiring pilots say licence processing backlogs at Transport Canada slowing careers
By Amanda Stephenson, The Canadian Press on February 7th, 2023
CALGARY – Against the backdrop of a global pilot shortage, hopefuls aspiring to a career in the skies say their Canadian licensing applications are taking far too long to process. Student pilots who have completed the training requirements for their private or commercial pilots’ licences say their credentials are being delayed due to what they ... Read More »
1 responseWhat to know about investing with your student line of credit
By Pascale Malenfant, The Canadian Press on February 7th, 2023
MONTREAL – When Pablo Mhanna-Sandoval received his offer of admission for law school in the spring of 2022, he immediately started securing a student line of credit. “I initially took out a line of credit as an insurance to make sure I had some liquidity down the line in the last two years of my ... Read More »
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