Business
Stocks open mostly lower on Wall Street, except for tech
By Joe Mcdonald And Matt Ott, The Associated Press on February 7th, 2023
NEW YORK (AP) – Stocks are opening mostly lower on Wall Street, but gains in some tech stocks were pushing the Nasdaq barely higher. The S&P 500 index fell 0.2% in the early going Tuesday and the Dow Jones Industrial Average fell 0.4%. A solid gain in Microsoft nudged the Nasdaq up 0.1%. Treasury yields ... Read More »
1 responseCrypto company Hut 8 Mining signs deal to merge with US Bitcoin
By The Canadian Press on February 7th, 2023
TORONTO – Canadian cryptocurrency company Hut 8 Mining Corp. says it has signed a deal to merge with U.S. Data Mining Group Inc., the company behind US Bitcoin Corp. Under the agreement, the combined company will be named Hut 8 Corp. and will be an U.S.-domiciled company. The deal will see shareholders of Hut 8 ... Read More »
Be the first to comment!Statistics Canada reports merchandise trade deficit $160 million in December
By The Canadian Press on February 7th, 2023
OTTAWA – Statistics Canada says the country posted a merchandise trade deficit of $160 million in December as both exports and imports fell compared with November. The result followed a revised deficit of $219 million for November compared with an initial reading for the month that showed a $41 million deficit. Statistics Canada says exports ... Read More »
1 responseToy company Spin Master reports Q4 revenue down from year ago
By The Canadian Press on February 7th, 2023
TORONTO – Spin Master Corp. says its preliminary fourth-quarter revenue totalled US$465.8 million, down from US$620.5 million a year earlier. The toy company, which keeps its books in U.S. dollars, says toy revenue for the quarter totalled US$396.7 million, down from US$542.0 million, while entertainment revenue amounted to US$31.2 million, up from US$28.5 million. Digital ... Read More »
1 responseCineplex reports $10.2M Q4 profit compared with $21.8M loss a year earlier
By The Canadian Press on February 7th, 2023
TORONTO – Cineplex Inc. reported a profit of $10.2 million in its fourth quarter compared with a loss of $21.8 million a year earlier as its revenue increased more than 15 per cent. The movie theatre company says its net profit amounted to 16 cents per diluted share for the quarter ended Dec. 31 compared ... Read More »
1 responseCDPQ buying 50% stake in Montreal toll bridge A25 Concession for $355M
By The Canadian Press on February 7th, 2023
MONTREAL – The Caisse de dépôt et placement du Québec has signed an agreement with Transurban to acquire a 50 per cent stake in the A25 Concession, a toll road and bridge network in Montreal. The deal is valued at $355 million. The A25 toll bridge serves northeastern Montreal and eastern Laval. The 50 per ... Read More »
1 responseCanadians now expect to need $1.7M in order to retire: BMO survey
By Amanda Stephenson, The Canadian Press on February 7th, 2023
CALGARY – Canadians now believe they need $1.7 million in savings in order to retire, a 20 per cent increase from 2020, according to a new BMO survey. The eye-watering figure is the largest sum since BMO first started surveying Canadians about their retirement expectations 13 years ago. It’s also a drastic increase from the ... Read More »
1 responseGlobal stocks mixed after Wall St sinks on rate fears
By Joe Mcdonald, The Associated Press on February 7th, 2023
BEIJING (AP) – Global stock markets were mixed Tuesday as traders looked ahead to a speech by Federal Reserve Chair Jerome Powell for clues to interest rate plans after Japanese wages rose and Australia’s central bank hiked its key rate again. London and Shanghai gained. Frankfurt, Tokyo and Wall Street futures declined. Oil prices rose. ... Read More »
Be the first to comment!Will Biden’s second state of the union mark a less protectionist approach to Canada?
By James McCarten, The Canadian Press on February 7th, 2023
WASHINGTON – A new poll suggests a majority of Canadians still see the United States as their country’s closest ally, even in an age of isolationism and protectionist policies. The online survey by Leger for the Association for Canadian Studies found 69 per cent of respondents still see the U.S. as Canada’s best friend, while ... Read More »
Be the first to comment!Asian stocks mixed after Wall St sinks on rate fears
By Joe Mcdonald, The Associated Press on February 6th, 2023
BEIJING (AP) – Asian stock markets were mixed Tuesday after Wall Street sank under pressure from interest rate worries, Japanese wages rose and Australia’s central bank hiked its benchmark lending rate. Shanghai, Hong Kong and Seoul advanced. Tokyo and Sydney declined. Oil prices rose. Wall Street sank for a second day Monday after unexpectedly strong ... Read More »
Be the first to comment!Asian stocks rebound after Wall St sinks on rate fears
By Joe Mcdonald, The Associated Press on February 6th, 2023
BEIJING (AP) – Asian stock markets rebounded Tuesday after Wall Street sank under pressure from worries about higher interest rates and after Japan reported stronger wage gains than expected. Shanghai, Tokyo, Hong Kong and Seoul advanced. Oil prices rose. Wall Street sank for a second day Monday after unexpectedly strong U.S. data on hiring and ... Read More »
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