November 12th, 2024

Business

Stocks open mostly higher as earnings reports stream in

By Yuri Kageyama And Matt Ott, The Associated Press on January 31st, 2023

NEW YORK (AP) – Stocks are mostly higher in early trading on Wall Street as a deluge of major corporate earnings poured in ahead of Wednesday’s Federal Reserve interest rate meeting. The S&P 500 was up 0.2% in the first few minutes of trading Tuesday and the the Dow Jones Industrial Average slipped 0.1%. The ... Read More »

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Aimia to buy rope and net maker Tufropes for $249.6 million

By The Canadian Press on January 31st, 2023

TORONTO – Aimia Inc. says it has signed a deal to buy rope and net maker Tufropes for $249.6 million. Under the deal, Paladin Private Equity LLC will be Aimia’s partner. It will have an option to acquire up to a 19.9 per cent equity position in Tufropes from Aimia within one year of closing. ... Read More »

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Canadian economy grew slightly in November, expected to slow further

By The Canadian Press on January 31st, 2023

OTTAWA – The Canadian economy grew by 0.1 per cent in November as higher interest rates began to slow spending toward the end of the year. Statistics Canada’s preliminary estimate for December indicates the economy stayed flat, suggesting the economy grew at an annualized rate of 1.6 per cent in the fourth quarter. The economy ... Read More »

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US wage growth slowed in the final quarter of 2022

By Christopher Rugaber, The Associated Press on January 31st, 2023

WASHINGTON (AP) – Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won’t fuel higher inflation. Wages and benefits, such as health insurance, grew 1% in the October-December quarter ... Read More »

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Imperial Oil reports $1.73-billion Q4 profit, up from $813 million a year earlier

By The Canadian Press on January 31st, 2023

CALGARY – Imperial Oil Ltd. says its fourth-quarter profit more than doubled compared with a year earlier, helped by a strong operating performance across all of its business. The company says it earned $1.73 billion or $2.86 per diluted share for the quarter, up from $813 million or $1.18 per diluted share a year earlier. ... Read More »

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US workers’ pay slowed in the final quarter of 2022

By Christopher Rugaber, The Associated Press on January 31st, 2023

WASHINGTON (AP) – Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won’t fuel higher inflation. Wages and benefits, such as health insurance, grew 1% in the October-December quarter ... Read More »

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Canadian Press NewsAlert: Canadian economy grew by 0.1% in November

By The Canadian Press on January 31st, 2023

OTTAWA – Statistics Canada says the economy grew by 0.1 per cent in November. A preliminary estimate from the federal agency suggests real gross domestic product grew by an annualized rate of 1.6 per cent in the fourth quarter. More coming... Read More »

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Ontario job seekers increasingly looking for work in other provinces: Indeed

By The Canadian Press on January 31st, 2023

A new report says Ontario job seekers are increasingly looking for work in other provinces, especially those looking for jobs in remote-friendly sectors like tech. The job search company says in the second half of 2022, 6.1 per cent of clicks on Canadian job postings by Ontario-based job seekers were for positions in other provinces. ... Read More »

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Statistics Canada to release November gross domestic product figures today

By The Canadian Press on January 31st, 2023

OTTAWA – Statistics Canada is set to release its November reading of real gross domestic product this morning. RBC is forecasting real GDP grew by 0.1 per cent in November, a figure that is in line with Statistics Canada’s preliminary estimate. The federal agency will also provide a preliminary estimate of economic growth for December ... Read More »

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IMF upgrades outlook for the global economy in 2023

By Paul Wiseman, The Associated Press on January 30th, 2023

WASHINGTON (AP) – The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. That’s the view of the International Monetary Fund, which now expects the world economy to ... Read More »

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IMF upgrades its outlook for the global economy in 2023

By Paul Wiseman, The Associated Press on January 30th, 2023

WASHINGTON (AP) – The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. That’s the view of the International Monetary Fund, which now expects the world economy to ... Read More »

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