Business
S&P/TSX composite posts gain Friday; U.S. markets rally on tech
By The Canadian Press on January 20th, 2023
TORONTO – Canada’s main stock index was up more than 150 points Friday on broad-based gains, while U.S. markets also rose with an end-of-week rally driven by significant strength in the tech sector. The S&P/TSX composite index was up 161.77 points at 20,503.21. In New York, the Dow Jones industrial average was up 330.93 points, ... Read More »
1 responseRally for tech stocks helps soften Wall Street’s rough week
By Stan Choe And Alex Veiga, The Associated Press on January 20th, 2023
NEW YORK – A rally for tech stocks applied some salve on Wall Street’s rough week, one dominated by worries about a weakening economy. The S&P 500 rose 1.9% Friday, but still ended with its first weekly loss in the last three. The Nasdaq added 2.7% and the Dow rose 1%. Google’s parent company rose ... Read More »
Be the first to comment!To advance ‘North American Idea,’ fortify bond between Canada, Mexico, experts say
By The Canadian Press on January 20th, 2023
WASHINGTON – Experts say a stronger bond between Canada and Mexico will be central to advancing North American competitiveness on the international stage. Sen. Peter Boehm, a former Liberal deputy cabinet minister, likens the continent’s trilateral ties to an isosceles triangle, with the Canada-Mexico relationship as the shortest side. Boehm says the two could work ... Read More »
1 responseStatistics Canada says November saw lowest number of people on EI in 25 years
By The Canadian Press on January 20th, 2023
OTTAWA – Statistics Canada says November saw the lowest number of employment insurance beneficiaries on record in 25 years. The federal agency says November marked the lowest number of people receiving EI since comparable data became available in 1997, with the exception of the summer of 2020 when the Canadian Emergency Response Benefit was in ... Read More »
1 responseWaterloo tech company Magnet Forensics sold to U.S. firm Thoma Bravo for $1.8B
By The Canadian Press on January 20th, 2023
Magnet Forensics Inc. says it will be bought and taken private in a $1.8-billion deal signed with Thoma Bravo, a U.S. private equity firm operating in the software sector. Waterloo, Ont.-based Magnet Forensics sells tools used to investigate digital crimes and cyberattacks. It says the deal signed with Thoma Bravo amounts to a 15 per ... Read More »
1 responseSun Life strikes insurance sales partnership with Hong Kong-based Dah Sing Bank
By The Canadian Press on January 20th, 2023
TORONTO – Sun Life Financial Inc. says it has struck a 15-year deal to be to the exclusive provider of insurance products for Hong Kong-based Dah Sing Bank Ltd. The insurance giant says it will pay about $260 million for the arrangement, with ongoing variable payments to Dah Sing Bank based on the success of ... Read More »
1 response2022 was slowest year for US home sales in nearly a decade
By Alex Veiga, The Associated Press on January 20th, 2023
LOS ANGELES (AP) – U.S. home sales tumbled to the slowest pace in nearly a decade as soaring mortgage rates and sky high prices in 2022 pushed homeownership out of reach for many Americans. The National Association of Realtors said Friday that existing U.S. home sales totaled 5.03 million last year, a 17.8% decline from ... Read More »
1 responseBattery metals and industrials help lead S&P/TSX composite up in late-morning trading
By The Canadian Press on January 20th, 2023
TORONTO – Canada’s main stock index was up in early morning trading amid broad-based gains led by the battery metals and industrial sectors, while U.S. stock markets also climbed. The S&P/TSX composite index was up 90.24 points at 20,431.68. In New York, the Dow Jones industrial average was up 127.23 points at 33,171.79. The S&P ... Read More »
Be the first to comment!Wave of tech layoffs tips power back in favour of employers in sector
By The Canadian Press on January 20th, 2023
TORONTO – Members of Canada’s tech industry say another wave of layoffs the sector saw this week is tipping the power dynamic back in favour of employers. Marissa McNeelands, chief executive of women’s tech collective Toast, says tech workers have had more power to negotiate better salaries and roles in recent years because they were ... Read More »
Be the first to comment!December US home sales fall, capping nearly 18% drop in 2022
By Alex Veiga, The Associated Press on January 20th, 2023
LOS ANGELES (AP) – Sales of previously occupied U.S. homes slumped nearly 18% in 2022, the slowest year for the housing market in nearly a decade. The National Association of Realtors said Friday that existing home sales totaled 5.03 million last year, a 17.8% decline from 2021. That marks the weakest year for home sales ... Read More »
Be the first to comment!Wall Street opens mixed and is headed for a losing week
By Joe Mcdonald And Matt Ott, The Associated Press on January 20th, 2023
NEW YORK (AP) – Stocks are off to a mixed start on Wall Street, keeping the market on track for a losing week after rallying for the first two weeks of the year. The S&P 500 was just barely higher in the early going Friday, and the tech-heavy Nasdaq composite was up 0.4%. The Dow ... Read More »
Be the first to comment!
