Business
Canadian economy loses steam, expected to slow further amid high interest rates
By Nojoud Al Mallees, The Canadian Press on January 31st, 2023
OTTAWA – The Canadian economy lost steam as 2022 drew a close, setting the stage for a continued slowdown this year as high interest rates weigh on spending. Statistics Canada’s preliminary estimate for real GDP in December indicates the economy neither grew nor contracted, suggesting the economy grew at an annualized rate of 1.6 per ... Read More »
Be the first to comment!French officials say 1.27 million protested pension reforms
By Jade Le Deley And John Leicester, The Associated Press on January 31st, 2023
PARIS (AP) – French authorities say that an estimated 1.27 million people joined in Tuesday’s nationwide protests against the government’s planned pension reforms. In a victory for unions fighting the planned raising of the retirement age, that figure exceeds the estimated 1 million who took part in a first round of protests on Jan. 19. ... Read More »
Be the first to comment!U.S. launches second USMCA dispute panel as dairy battle with Canada goes to Round 2
By The Canadian Press on January 31st, 2023
WASHINGTON – The United States is filing another formal dispute over what it considers Canada’s failure to live up to its trade obligations to American dairy farmers and producers. It’s the second time the U.S. has launched such a dairy-driven escalation, formally known as a dispute settlement panel, in less than two years. U.S. Trade ... Read More »
Be the first to comment!Imperial Oil expects ‘double-digit’ returns from renewable diesel facility
By Amanda Stephenson, The Canadian Press on January 31st, 2023
CALGARY – Imperial Oil Ltd. expects “double-digit returns” from its $720-million investment to build what will be Canada’s largest renewable diesel manufacturing facility at its Strathcona refinery, the oil giant said Tuesday. The Calgary-based company announced last week its plans to go ahead with the project on the outskirts of Edmonton that was first announced ... Read More »
Be the first to comment!‘Hands off Africa!’: Pope blasts foreign plundering of Congo
By Nicole Winfield, Jean-yves Kamale And Christina Malkia, The Associated Press on January 31st, 2023
KINSHASA, Congo (AP) – Pope Francis demanded Tuesday that foreign powers stop plundering Africa’s natural resources for the “poison of their own greed” as he arrived in Congo to a raucous welcome by Congolese grateful he was focusing the world’s attention on their forgotten plight. Tens of thousands of people lined the main road into ... Read More »
Be the first to comment!WestJet temporarily suspends service from 3 Canadian cities to Europe
By The Canadian Press on January 31st, 2023
CALGARY – WestJet says it has temporarily suspended transatlantic service between three Canadian cities and Europe. The airline announced it is pausing transatlantic service between Halifax and Europe as part of its 2023 summer schedule on Monday. It also confirmed that it suspended transatlantic service to Europe from Vancouver and Toronto as of early December ... Read More »
1 responseQuick-service restaurants to weather economic storm better than full-service: report
By The Canadian Press on January 31st, 2023
TORONTO – DBRS Morningstar says quick-service restaurants will have an easier time weathering the coming economic storm than full-service restaurants, as rising costs and slowing consumer spending weigh on the already embattled industry. New commentary by the credit rating agency says restaurants around the globe are still dealing with a pandemic hangover and are now ... Read More »
1 responseTech and base metal sectors help S&P/TSX composite gain more than 100 points
By The Canadian Press on January 31st, 2023
TORONTO – Strength in the technology and base metal sectors helped Canada’s main stock index post a triple-digit advance in late-morning trading, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 124.81 points at 20,696.92. In New York, the Dow Jones industrial average was up 84.67 points at 33,801.76. The S&P ... Read More »
1 responseUS consumer confidence lags as 2023 gets under way
By Matt Ott, The Associated Press on January 31st, 2023
American consumers are kicking off 2023 slightly less confident than they were at the end of last year as inflation and the possibility of a recession loom. The Conference Board reported Tuesday that its consumer confidence index slipped to 107.1 in January, down from 109 in December. Last month’s reading was the highest the index ... Read More »
1 responseGeneral Motors to invest US$650 million in Lithium Americas
By The Canadian Press on January 31st, 2023
VANCOUVER – General Motors Co. has signed a deal to invest US$650 million in Lithium Americas Corp. which is developing the Thacker Pass lithium project in Nevada. Under the agreement, GM will receive exclusive access to Phase 1 production from the mine through a binding supply agreement and a right of first offer on Phase ... Read More »
Be the first to comment!Looking to travel this spring? Here are some cost-saving tips
By Alessia Passafiume, The Canadian Press on January 31st, 2023
Instead of hopping on a plane to travel, Michael Downie opts for the train. “You have your bedroom, you get three meals a day, and you just look out the window and watch the country go by. You get to experience all of it,” said Downie. For the YouTube travel blogger, the journey is the ... Read More »
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