Business
U.S. senators call for trade crackdown on Canada over dairy quotas, digital policies
By The Canadian Press on January 27th, 2023
WASHINGTON – A pair of senior U.S. senators is urging the Biden administration to get tough with Canada for “flouting” obligations to its North American trade partners. Democrat Sen. Ron Wyden of Oregon and Republican Sen. Mike Crapo lay out their concerns in a letter to U.S. Trade Representative Katherine Tai. The letter says American ... Read More »
1 responseFederal government posts $3.6 billion deficit between April and November
By The Canadian Press on January 27th, 2023
OTTAWA – The federal government posted a budgetary deficit of $3.6 billion in the first eight months of the fiscal year. In its monthly fiscal monitor, the finance department says the deficit compares to a deficit of $73.7 billion during the same period last year. Government revenues were up $35.5 billion or 14.8 per cent ... Read More »
1 responseWomen-led startups fear falling behind amid tech downturn
By Tara Deschamps, The Canadian Press on January 27th, 2023
TORONTO – Members of Canada’s tech community say they are worried the sector’s recent downturn will weigh even heavier on women founders, who have long trailed their male counterparts when fundraising. Their fears come as the global tech sector is being rankled by reduced spending as consumers shift back to pre-pandemic habits. The sector is ... Read More »
1 responseWall Street opens lower, still headed for a weekly gain
By Yuri Kageyama And Matt Ott, The Associated Press on January 27th, 2023
NEW YORK (AP) – Stocks are off to a weak start on Wall Street, but they’re still headed for their third weekly gain in the last four. Major indexes were slightly lower in the early going Friday, even as several stocks made big moves after announcing their latest results and forecasts. American Express jumped almost ... Read More »
1 responseGroup forms to build small modular nuclear reactor in Ontario
By The Canadian Press on January 27th, 2023
CLARINGTON, Ont. – Ontario Power Generation, GE Hitachi Nuclear Energy, SNC-Lavalin Group Inc. and Aecon Group Inc. are joining forces to build a small modular nuclear reactor in Ontario. The group wants to build the reactor at the Darlington site, east of Toronto. Under the agreement, OPG will be the license holder and have overall ... Read More »
Be the first to comment!TotalEnergies EP Canada ups stake in Fort Hills oilsands project
By The Canadian Press on January 27th, 2023
CALGARY – TotalEnergies EP Canada Ltd. says it is increasing its ownership in the Fort Hills oilsands project by acquiring part of Teck Resources Ltd.’s stake in the mine. Teck announced last year that it would sell its 21.3 per cent stake in Fort Hills to Suncor Energy Inc., the third partner in the project, ... Read More »
Be the first to comment!US inflation and consumer spending cooled in December
By Christopher Rugaber, The Associated Press on January 27th, 2023
WASHINGTON (AP) – The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell – the latest evidence that the Fed’s series of interest rate hikes are slowing the economy. Friday’s report from the Commerce Department showed that prices rose 5% last month from a year earlier, down from the 5.5% year-over-year ... Read More »
Be the first to comment!S&P/TSX composite closes up along with U.S. markets after economic report
By The Canadian Press on January 26th, 2023
TORONTO – Canada’s main stock index made a turnaround from early losses to end up Thursday along with U.S. markets as data showed continued resilience in the U.S. economy. The S&P/TSX composite index ended up 100.90 points at 20,700.50. In New York, the Dow Jones industrial average was up 205.57 points at 33,949.41. The S&P ... Read More »
Be the first to comment!Wall Street rises to hit best level in nearly eight weeks
By Stan Choe, The Associated Press on January 26th, 2023
NEW YORK (AP) – Stocks climbed Thursday to send Wall Street to its highest level in nearly eight weeks following reports suggesting the economy and corporate profits may be doing better than feared. The S&P 500 rose 1.1% Thursday after briefly dipping lower in late morning trading. More swings may still be ahead, as Wall ... Read More »
Be the first to comment!As the BoC takes a pause from interest rate hikes, all eyes are on the labour market
By Nojoud Al Mallees, The Canadian Press on January 26th, 2023
OTTAWA – After a series of historic interest rate hikes, economists are left wondering whether job losses are next. High interest rates cause businesses and consumers to pull back on spending. As business slows, companies review their staffing levels and unemployment tends to climb. However, up until now, the Canadian labour market has kept its ... Read More »
Be the first to comment!Via Rail tells MPs passengers stuck on train for 18 hours were in ‘unique’ situation
By Stephanie Taylor, The Canadian Press on January 26th, 2023
OTTAWA – The CEO of Via Rail says that after a tree fell on a passenger train as it travelled on CN Rail tracks during the holidays, it took the freight company longer than hoped to clear it – and passengers on board were stuck for 18 hours. Martin Landry, who is also Via Rail’s ... Read More »
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