Business
QuickQuotes: Reaction to the Bank of Canada’s latest rate hike
By The Canadian Press on January 25th, 2023
OTTAWA – The Bank of Canada raised its key interest rate by a quarter of a percentage point to 4.5 per cent on Wednesday and says it expects to keep rates on hold for now as it assesses the economic data. Here is some reaction to the announcement Wednesday: Bank of Canada governor Tiff Macklem ... Read More »
1 responseThe Bank of Canada interest rate hit 4.5%. Here’s a timeline of how we got here
By The Canadian Press on January 25th, 2023
OTTAWA – The Bank of Canada hiked its key interest rate by a quarter of a percentage point on Wednesday, bringing it to 4.5 per centand signalling it plans to hold there for now. The central bank also released its latest economic forecast and said it expects inflation to come down significantly this year, reaching ... Read More »
1 responseBank of Canada hikes key interest rate by quarter point, says it plans to hold
By The Canadian Press on January 25th, 2023
OTTAWA – The Bank of Canada is raising its key interest rate by a quarter of a percentage point and says it expects this to be the last rate hike of the cycle. Today’s interest rate increase marks the eighth consecutive rate hike since March as the central bank fights off decades-high inflation. Its key ... Read More »
Be the first to comment!Wall Street opens lower on worries about corporate profits
By Yuri Kageyama And Matt Ott, The Associated Press on January 25th, 2023
NEW YORK (AP) – Stocks are opening lower on Wall Steeet on worries about corporate profits following a mixed set of earnings reports and forecasts from Microsoft and others. The S&P 500 was 1.2% lower in early trading Wednesday, on pace for a second step down after reaching its highest level in seven weeks on ... Read More »
Be the first to comment!Cannabis company The Green Organic Dutchman Holdings changing name to BZAM
By The Canadian Press on January 25th, 2023
TORONTO – The Green Organic Dutchman Holdings Ltd. is changing its name to BZAM Ltd. The cannabis company says it will also change its ticker symbol on the Canadian Securities Exchange to BZAM. The exact timing of the name change to BZAM, which is one of the brand names of cannabis used by the company, ... Read More »
Be the first to comment!Luxor Capital still opposed to Ritchie Bros. deal to buy IAA despite changes
By The Canadian Press on January 25th, 2023
VANCOUVER – Investment firm Luxor Capital Group LP remains opposed to Ritchie Bros. Auctioneers Inc.’s deal to buy IAA Inc. despite changes to the agreement. Luxor, which holds a 3.6 per cent stake in the auctioneer, says the revised deal does little for Ritchie Bros. shareholders. It is also critical of a US$500-million financing deal ... Read More »
Be the first to comment!Bank of Canada expected to hike rates again. Here’s a timeline of how we got here
By The Canadian Press on January 25th, 2023
OTTAWA – The Bank of Canada is expected to hike its key interest rate by another quarter-percentage point on Wednesday, bringing it to 4.5 per cent and continuing one of the fastest monetary policy tightening cycles in its history amid warning signs of a potential recession. Here’s how we got here: Oct. 24, 2018: The ... Read More »
Be the first to comment!Industry committee set to hold meeting on Rogers-Shaw deal
By The Canadian Press on January 25th, 2023
OTTAWA – The House of Commons industry and technology committee is set to meet today to look at Rogers Communications Inc.’s proposed takeover of Shaw Communications Inc. The committee previously reviewed the merger in March and recommended against the transaction. This latest meeting will examine a revised proposal that includes the sale of Shaw-owned Freedom ... Read More »
Be the first to comment!Oilsands execs say they can’t invest in decarbonization any faster, despite profits
By Nojoud Al Mallees, The Canadian Press on January 25th, 2023
OTTAWA – Oilsands executives insist they are all in on cutting emissions and will make big investments in green technology, but they maintain there isn’t a place to invest that money yet. Many companies are coming off a year of windfall profits not because they pumped out more product, but because the war in Ukraine ... Read More »
Be the first to comment!What another Bank of Canada rate hike could mean
By Tara Deschamps, The Canadian Press on January 25th, 2023
TORONTO – The Bank of Canada is scheduled to make an interest rate announcement Wednesday that’s widely expected to push its key policy rate up to 4.5 per cent – the highest it’s been since 2007. Economists are predicting the central bank, which has made a rapid succession of large hikes since it began raising ... Read More »
Be the first to comment!Bank of Canada to announce interest rate decision today, expected to hike to 4.5%
By The Canadian Press on January 25th, 2023
OTTAWA – The Bank of Canada is set to announce its latest interest rate decision this morning as markets widely expect the central bank to hike its key interest rate by a quarter of a percentage point. That would bring its key interest rate to 4.5 per cent, the highest it’s been since 2007. The ... Read More »
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