Business
Wall Street opens lower as big job gains fan inflation fears
By Yuri Kageyama And Matt Ott, The Associated Press on February 3rd, 2023
NEW YORK (AP) – Wall Street’s rally hit a wall after a shocking jobs report showed the U.S. economy created a third of a million more jobs last month than expected, fueling worries about inflation and higher interest rates. The S&P 500 fell 1% in early trading Friday and is on pace for its first ... Read More »
1 responseTaseko in talks regarding potential deal to up stake in Gibraltar copper mine
By The Canadian Press on February 3rd, 2023
VANCOUVER – Taseko Mines Ltd. says it is in talks regarding a potential deal to increase its stake in its Gibraltar copper mine in B.C. The company says it has been in confidential discussions with Sojitz Corp. regarding the potential purchase of its 12.5 per cent effective interest in the mine. Taseko owns 75 per ... Read More »
1 responseUS adds a surprisingly strong 517,000 jobs despite Fed hikes
By Paul Wiseman, The Associated Press on February 3rd, 2023
WASHINGTON (AP) – America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates. The unemployment rate dipped to 3.4%, a new half-century low. Friday’s government report added to the picture of a resilient ... Read More »
Be the first to comment!Reports: 8 migrants’ bodies recovered by Italian coast guard
By The Associated Press on February 3rd, 2023
MILAN (AP) – The bodies of eight migrants have been recovered by Italy’s coast guard during an operation overnight that also rescued 42 survivors in the central Mediterranean off the island of Lampedusa, Italian news agency ANSA reported Friday. The coast guard in Rome and in Lampedusa declined to immediately confirm details of the rescue, ... Read More »
Be the first to comment!Toronto home sales down 44.6 per cent year over year in January
By The Canadian Press on February 3rd, 2023
TORONTO – The Toronto Regional Real Estate Board says January home sales were down 44.6 per cent from the same month a year ago, falling in line with expectations as the number of sales and average selling price were similar to December 2022. Sales for January totalled 3,100, down from 5,594 a year earlier, while ... Read More »
Be the first to comment!Provincial and territorial finance ministers to meet 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. The meeting comes at a tense time for many Canadian consumers, with inflation still running hot and interest rates much higher than they were a year ago. The Bank of ... Read More »
Be the first to comment!OpenText Corp. sees revenues rise 2.4 per cent in latest financial quarter
By The Canadian Press on February 2nd, 2023
WATERLOO, ONTARIO – OpenText Corp. reported revenues for the most recent quarter were up 2.4 per cent year over year, with cloud revenues rising 12 per cent. Net income for their second quarter ended Dec. 31 amounted to US$258.5 million, up 192.7 per cent, representing earnings of 96 cents US per diluted share, up from ... Read More »
1 responseTeck completes sale of Fort Hills stake to project partners; exits oilsands
By The Canadian Press on February 2nd, 2023
VANCOUVER – Teck Resources Ltd. says it has completed the sale of its 21.3 per cent stake in the Fort Hills oilsands mine to Suncor Energy Inc. and TotalEnergies EP Canada Ltd. The Vancouver-based mining company announced last year that it would sell its stake in Fort Hills to Suncor, one of two other partners ... Read More »
Be the first to comment!Tech sector helps lift S&P/TSX composite from energy losses, U.S. markets mixed
By Rosa Saba, The Canadian Press on February 2nd, 2023
TORONTO – Canada’s main stock index shored itself up against losses in the energy sector for the second day in a row, while U.S. markets were mixed. The S&P/TSX composite index was down 10.61 points at 20,740.44. In New York, the Dow Jones industrial average was down 39.02 points at 34,053.94.The S&P 500 index was ... Read More »
Be the first to comment!Tech sector helps lift S&P/TSX composite from energy losses
By The Canadian Press on February 2nd, 2023
TORONTO – Canada’s main stock index shored itself up against losses in the energy sector for the second day in a row, while U.S. markets were mixed. The S&P/TSX composite index was down 10.61 points at 20,740.44. In New York, the Dow Jones industrial average was down 39.02 points at 34,053.94.The S&P 500 index was ... Read More »
Be the first to comment!Wall Street’s rally rolls on, led by torrid tech stocks
By Stan Choe, The Associated Press on February 2nd, 2023
NEW YORK (AP) – Wall Street closed higher, led by excitement around tech stocks and a surge for Facebook’s parent company, Meta Platforms. The S&P 500 rose 1.5% Thursday, a day after hitting its highest level since the summer. The Nasdaq composite jumped 3.3%, led by a 23.3% surge in Meta. The Dow lagged behind ... Read More »
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