Business
Jury clears Musk of wrongdoing related to 2018 Tesla tweets
By Michael Liedtke, The Associated Press on February 3rd, 2023
SAN FRANCISO (AP) – A jury on Friday decided Elon Musk didn’t deceive investors with his 2018 tweets about electric automaker Tesla. The verdict by the nine jurors was reached after less that two hours of deliberation following a three-week trial and represents a major vindication for Musk. The trial pitted Tesla investors represented in ... Read More »
1 responseFreeland touts opportunities of U.S. Inflation Reduction Act at ministers’ meeting
By The Canadian Press on February 3rd, 2023
TORONTO – Deputy Prime Minister and Finance Minister Chrystia Freeland said the provinces and territories need to chip in to Canada’s response to the U.S.’s Inflation Reduction Act, which includes electric-vehicle incentives that favour manufacturers in Canada and Mexico, as well as the U.S. Speaking after an in-person meeting with the provincial and territorial finance ... Read More »
1 responseS&P/TSX composite notches slight gain, U.S. stock markets down on strong jobs data
By The Canadian Press on February 3rd, 2023
TORONTO – Canada’s main stock index managed a slight gain on a day that saw markets swing notably following the release of better-than-expected jobs data in the U.S., which left markets in the U.S. down by day end as investors plan for more rate hikes ahead. The S&P/TSX composite index closed up 17.90 points at ... Read More »
1 responseWall Street takes a hit on hot jobs data, cold tech profits
By Stan Choe, The Associated Press on February 3rd, 2023
NEW YORK (AP) – Wall Street’s rally hit a wall after a surprisingly strong jobs report fueled worries about inflation and higher interest rates. The S&P 500 fell 1% Friday, its first drop in four days, though it took an up-and-down route to get there. The bond market was more decisive in thinking the strong ... Read More »
Be the first to comment!Investors made up 20 to 30% of homeowners in some provinces: Statistics Canada
By The Canadian Press on February 3rd, 2023
OTTAWA – New Statistics Canada data shows investors made up almost one third of homeowners in some provinces in 2020. The data agency says investors made up 31.5 per cent of Nova Scotia’s homeowners that year and 29 per cent of New Brunswick’s property holders. Investors in British Columbia came in at 23.3 per cent ... Read More »
Be the first to comment!Airlines ask Supreme Court to hear case on passenger bill of rights
By The Canadian Press on February 3rd, 2023
OTTAWA – A group of airlines is asking the Supreme Court of Canada to hear their case after a lower court largely upheld the validity of Canada’s air passenger bill of rights. Air Canada and Porter Airlines Inc. are among the group seeking leave to appeal to the Supreme Court, along with a number of ... Read More »
1 responseTRREB sees GTA home prices flatten, but realtors detect return of market activity
By Tara Deschamps, The Canadian Press on February 3rd, 2023
TORONTO – The Greater Toronto Area’s real estate board saw home prices plateau in January after being in free fall and depressing sales since spring, but brokers see a return to activity already taking shape. The Toronto Regional Real Estate Board calculated the home price index to be $1,078,900 for last month, a slight drop ... Read More »
1 response‘Ready to roll’: CP Rail preparing for KCS merger, ruling expected within weeks
By Amanda Stephenson, The Canadian Press on February 3rd, 2023
CALGARY – With the final decision by a U.S. regulator just weeks away, Canadian Pacific Railway Ltd.’s CEO says the company is “ready to roll” on its proposed merger with U.S. railroad Kansas City Southern. Keith Creel, head of the Calgary-headquartered railway, made the comment during a conference call with analysts earlier this week, in ... Read More »
1 responseA surprising burst of US hiring in January: 517,000 jobs
By Paul Wiseman, The Associated Press on February 3rd, 2023
WASHINGTON (AP) – For nearly a year, the Federal Reserve has been on a mission to cool down the job market to help curb the nation’s worst inflation bout in four decades. The job market hasn’t been cooperating. Consider what happened in January: The government said Friday that employers added a sizzling 517,000 jobs last ... Read More »
1 response‘Made-in-Canada system’ keeps egg supply stable. But is it also keeping prices high?
By Brett Bundale, The Canadian Press on February 3rd, 2023
Canada’s egg industry appears to be quietly sidestepping widespread shortages and wildly spiking prices affecting other countries, and some say supply management is to thank. The system, which controls the supply, import and farm price of eggs, poultry and dairy, is often criticized as benefitting Canadian farmers at the expense of consumers. Critics blame supply ... Read More »
1 responseFreeland meets with provincial, territorial finance ministers in Toronto
By The Canadian Press on February 3rd, 2023
TORONTO – Deputy Prime Minister and Finance Minister Chrystia Freeland is hosting an in-person meeting today with the provincial and territorial finance ministers in Toronto to discuss issues including the transition to a clean economy, challenges in healthcare systems across the country, and the current economic environment. The meeting comes at a tense time for ... Read More »
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