Business
Canaccord Genuity buying Mercer’s Canadian private wealth business
By The Canadian Press on February 1st, 2023
TORONTO – Canaccord Genuity Group Inc. has signed a deal to acquire the Canadian private wealth business of Mercer Global Investments Canada Ltd. Financial terms of the agreement were not immediately available. The acquisition is expected to add about $1.5 billion to Canaccord Genuity Wealth Management’s total client assets. The deal is expected to close ... Read More »
Be the first to comment!TC Energy raises expected cost of Coastal GasLink project to $14.5 billion
By The Canadian Press on February 1st, 2023
CALGARY – TC Energy Corp. is raising its estimate for the cost of its Coastal GasLink project to $14.5 billion, up from an earlier estimate of $11.2 billion. The company says the pipeline project continues to face material cost pressures including a challenging labour market and contractor underperformance and disputes as well as drought conditions ... Read More »
Be the first to comment!CGI reports $382.4M first-quarter profit, up from $367.4M a year earlier
By The Canadian Press on February 1st, 2023
MONTREAL – CGI Inc. reported a first-quarter profit of $382.4 million, up from $367.4 million a year earlier, as its revenue rose more than 10 per cent. The technology and business consulting firm says the profit amounted to $1.60 per diluted share for the quarter ended Dec. 31, up from $1.49 per diluted share in ... Read More »
Be the first to comment!Investors not walking the talk when voting on climate commitments: report
By The Canadian Press on February 1st, 2023
TORONTO – A report from an investor-focused advocacy group raises questions about how well some of Canada’s biggest investors are meeting their climate commitments. The report from Investors for Paris Compliance (IPC) looks at the voting records on shareholder proposals by 19 Canadian members of Climate Action 100+, a global coalition with around 700 members ... Read More »
Be the first to comment!European inflation eases for third month to 8.5%
By The Associated Press on February 1st, 2023
LONDON (AP) – Europe’s inflation rate dipped at the start of the year, giving some relief to consumers but still leaving them facing higher prices. The consumer price index for the 20 countries that use the euro currency fell to 8.5% in January from a year earlier, European Union statistics agency Eurostat said Wednesday. That’s ... Read More »
Be the first to comment!ODSP earning exemption increases but it’s not as beneficial as it seems: advocates
By Cindy Tran, The Canadian Press on February 1st, 2023
OTTAWA – Some days, Terrie Meehan goes long stretches eating just one meal a day to stretch out her food supply. The $1,100 a month she receives from the Ontario Disability Support Program just doesn’t stretch that far. That won’t change for Meehan – or the vast majority of the Ontarians who receive aid under ... Read More »
Be the first to comment!Milk shakeup: U.S. launches second USMCA dispute panel in dairy battle with Canada
By James McCarten, The Canadian Press on January 31st, 2023
WASHINGTON – The United States doubled down Tuesday in its ongoing dispute with Canada over dairy imports, accusing one of its closest trading partners of shirking its responsibilities under the terms of North America’s three-year-old trade agreement. It’s the second time in less than two years that the U.S. has established what’s known as a ... Read More »
1 responseGreater Vancouver home sales to flatten while prices inch up, forecast says
By The Canadian Press on January 31st, 2023
VANCOUVER – Home sales in Greater Vancouver are predicted to stay in line with last year’s slower pace, while prices inch up slightly. The forecasts are contained in the Real Estate Board of Greater Vancouver’s outlook for 2023 released Tuesday. Historically, the report says rapidly escalating mortgage rates haven’t had as big a negative affect ... Read More »
1 responseCP Rail earns $1.27 billion, revenues up 21 per cent in fourth quarter
By The Canadian Press on January 31st, 2023
CALGARY – Canadian Pacific Railway Ltd. says it earned $1.27 billion in the fourth quarter of 2022, compared with $532 million in the same period of 2021. The diluted profit worked out to $1.36 per share, compared to 74 cents per share in the prior year’s quarter. The Calgary-headquartered company reported revenue of $2.46 billion, ... Read More »
1 responseS&P/TSX composite gains 200 points Tuesday, U.S. markets also up
By The Canadian Press on January 31st, 2023
TORONTO – Canada’s main stock index gained almost 200 points Tuesday with broad-based strength across sectors while U.S. markets also rose, erasing Monday’s losses. The S&P/TSX composite index was up 195.27 points at 20,767.38. In New York, the Dow Jones industrial average was up 368.95 points, or more than one per cent, at 34,086.04. The ... Read More »
1 responseWall Street climbs to add more to its strong January
By Stan Choe, The Associated Press on January 31st, 2023
NEW YORK (AP) – Wall Street closed out a strong January with more gains. The S&P 500 rose 1.5% Tuesday, marking its third winning month in the last four. The Dow rose 1.1% and the Nasdaq rose 1.7%. The gains came ahead of what many investors hope will be one of the Federal Reserve’s last ... Read More »
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