Business
January home sales down 55% from year earlier, 21% from Dec: Vancouver board
By The Canadian Press on February 2nd, 2023
VANCOUVER – The Real Estate Board of Greater Vancouver says January home sales were more than halved from the year before and down 21 per cent from December. The board says sales for the month totalled 1,022, a 55 per cent drop from the prior January. The number of homes that changed hands last month ... Read More »
1 responseDairy giant Saputo to permanently close 3 U.S. facilities, expand and build others
By The Canadian Press on February 2nd, 2023
MONTREAL – Dairy giant Saputo Inc. has announced sweeping changes to its U.S. operations, saying it will permanently close three facilities, build a new packaging facility and expand string cheese operations. The Montreal-based company says the goal of the capital investments and consolidation is to streamline its manufacturing footprint in the United States. Saputo says ... Read More »
1 responseLightspeed Commerce to hire, shift focus to premium clients after layoffs
By Tara Deschamps, The Canadian Press on February 2nd, 2023
Less than a month after laying off 300 workers, Lightspeed Commerce Inc.’s chief executive says his company has plans to hire between 150 and 200 more staff. The new additions will likely begin by the end of the Montreal e-commerce company’s fiscal year and will fill “contributor” roles rather than management positions, which made up ... Read More »
1 responseBank of England rate hike says ‘too soon to declare victory’
By Danica Kirka, The Associated Press on February 2nd, 2023
LONDON (AP) – The Bank of England announced another “forceful” increase in interest rates Thursday, saying it was too soon to declare victory against inflation that has slowed slightly but is still fueling a cost-of-living crisis, public-sector strikes and fears of recession. The bank raised its key rate by half a percentage point, to 4%, ... Read More »
1 responseVerticalScope to lay off 22 per cent of workforce amid slowing economic environment
By The Canadian Press on February 2nd, 2023
VerticalScope said it’s laying off around 60 employees, or 22 per cent of the company’s workforce. The Toronto-based technology company said Wednesday the layoffs will help reduce expenses and position the company to navigate the current economic environment. VerticalScope, which went public in 2021, is 43 per cent owned by NordStar Capital LLP, the group ... Read More »
1 responseCanada Goose cuts full-year forecast amid China disruptions, slowing momentum
By Brett Bundale, The Canadian Press on February 2nd, 2023
Canada Goose Holdings Inc. cut its annual revenue and profit forecasts on Thursday as COVID-19 related disruptions in China and slowing momentum in North America curtailed the luxury parka maker’s sales in its biggest quarter of the year. “We did face challenges during our seasonally significant third quarter, the largest being in … China where ... Read More »
Be the first to comment!BCE says it’s ready for price competition, reports Q4 profits down
By The Canadian Press on February 2nd, 2023
MONTREAL – Telecom giant BCE Inc. is starting to wind down a surge of infrastructure spending as it readies to flex both its improved network and increased capital room to attract more customers. “We have the room to compete on price if anyone wants to take us there,” said chief executive Mirko Bibic on an ... Read More »
Be the first to comment!Tech sector helps lift S&P/TSX composite, U.S. stock markets mixed
By The Canadian Press on February 2nd, 2023
TORONTO – Strength in the technology sector helped lead Canada’s main stock index higher in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 51.40 points at 20,802.45. In New York, the Dow Jones industrial average was down 108.61 points at 33,984.35. The S&P 500 index was up 57.21 points ... Read More »
Be the first to comment!Nestle Canada to wind down frozen meals and pizza business including Delissio
By The Canadian Press on February 2nd, 2023
TORONTO – Nestle Canada says it is winding down its frozen meals and pizza business in Canada over the next six months. The four brands that will no longer be sold in the freezer aisle at Canadian grocery stores are Delissio, Stouffer’s, Lean Cuisine and Life Cuisine. The company says it is focusing on categories ... Read More »
Be the first to comment!Utility board defies Nova Scotia government, allows 14 per cent power rate hike
By The Canadian Press on February 2nd, 2023
HALIFAX – Nova Scotia’s utility regulator has defied the provincial government and approved an average 14 per cent increase in electricity rates over two years. Premier Tim Houston said last November that his government opposed the increase of 6.9 per cent in both 2023 and 2024, which had been agreed to by Nova Scotia Power ... Read More »
Be the first to comment!DesRosiers says January auto sales up 7.5 per cent from a year earlier
By The Canadian Press on February 2nd, 2023
TORONTO – DesRosiers Automotive Consultants Inc. (DAC) says light vehicle sales in Canada in January were up 7.5 per cent compared with the first month of 2022. The automotive industry research firm estimates 98,259 new light vehicles were sold by reporting manufacturers in January. The result compared with 91,411 in January 2022. DAC says it ... Read More »
Be the first to comment!
