Business
US stocks lose ground as recession fears weigh on market
By Damian J. Troise And Alex Veiga, The Associated Press on January 19th, 2023
NEW YORK – Stocks fell on Wall Street as worries build that the U.S. may be headed for a painful recession. The S&P 500 fell 0.8% Thursday, as did the Dow. The Nasdaq lost 1%. Reports showed weakness in several areas of the economy, including the housing industry and manufacturing in the mid-Atlantic region, though ... Read More »
Be the first to comment!Richelieu Hardware raises quarterly dividend, reports full-year profit up nearly 20%
By The Canadian Press on January 19th, 2023
MONTREAL – Richelieu Hardware Ltd. raised its quarterly dividend as it reported its profit for its latest financial year rose nearly 20 per cent compared with the previous year. The hardware supplier says it will pay a quarterly dividend of 15 cents per share, up from 13 cents per share. The increased payment to shareholders ... Read More »
Be the first to comment!Fed’s Brainard: Taming inflation may not cause big job cuts
By Christopher Rugaber, The Associated Press on January 19th, 2023
WASHINGTON (AP) – Federal Reserve Vice Chair Lael Brainard said Thursday that high inflation in the United States is easing and suggested it was possible that the Fed’s interest rate hikes could slow price acceleration without causing significant job losses. Speaking in Chicago, Brainard sketched out a more optimistic outlook for inflation than some Fed ... Read More »
Be the first to comment!French unions call new nationwide strikes, protests Jan. 31
By Sylvie Corbet And Jade Le Deley, The Associated Press on January 19th, 2023
PARIS (AP) – French unions have announced new nationwide strikes and protests Jan. 31 against President Emmanuel Macron’s plans to raise the retirement age. Eight leading unions held a meeting Thursday after their first day of mass protests against the plan, and issued statements vowing to push on with their action to try to get ... Read More »
Be the first to comment!Nova Scotia’s Donkin coal mine cited for safety violations since fall reopening
By The Canadian Press on January 19th, 2023
HALIFAX – Nova Scotia’s Labour Department has cited the Donkin coal mine for a lengthy list of safety violations since the underground operation in Cape Breton reopened in mid-September. According to the department, owners Kameron Coal Management Ltd. have received 14 warnings, 19 compliance orders and eight administrative penalties or fines over the last four ... Read More »
Be the first to comment!At Davos, Thunberg visit spotlights lack of climate action
By David Keyton And Masha Macpherson, The Associated Press on January 19th, 2023
DAVOS, Switzerland (AP) – Swedish climate campaigner Greta Thunberg on Thursday slammed corporate bigwigs meeting in Davos, Switzerland, for “fueling the destruction of the planet” by investing in fossil fuels and prioritizing short-term profits over people affected by the climate crisis. Thunberg was joined by prominent young activists Vanessa Nakate, Helena Gualinga and Luisa Neubauer ... Read More »
Be the first to comment!Four-day work week gaining mainstream momentum in corporate Canada: poll
By The Canadian Press on January 19th, 2023
TORONTO – New research suggests a four-day week may be gaining mainstream momentum in corporate Canada as workplaces continue to fine tune post-pandemic schedules and working conditions. A survey by recruitment firm Robert Half found 91 per cent of senior managers polled say they support a four-day work week for their team. It found the ... Read More »
Be the first to comment!Fed’s Brainard backs smaller hikes, saying inflation easing
By Christopher Rugaber, The Associated Press on January 19th, 2023
WASHINGTON (AP) – Federal Reserve Vice Chair Lael Brainard noted Thursday that recent reports show high inflation in the United States is cooling and suggested it was possible that price acceleration may cool without causing significant job losses. Speaking in Chicago, Brainard sketched out a more optimistic outlook for inflation than some some Fed speakers ... Read More »
Be the first to comment!Macron vows to proceed with pension reform, despite protests
By Sylvie Corbet And Jade Le Deley, The Associated Press on January 19th, 2023
PARIS (AP) – Hundreds of thousands protested on the streets of Paris and other French cities Thursday amid nationwide strikes against plans to raise the retirement age, but President Emmanuel Macron insisted he would press ahead with the proposed pension reforms. Nationwide strikes severely disrupted transport, schools and other public services across France. During a ... Read More »
Be the first to comment!S&P/TSX composite down nearly 100 points, U.S. stock markets also fall
By The Canadian Press on January 19th, 2023
TORONTO – Canada’s main stock index was down nearly 100 points, in a broad-based decline led by losses in the technology and industrial sectors, while U.S. stock markets also fell. The S&P/TSX composite index was down 95.89 points at 20,280.34. In New York, the Dow Jones industrial average was down 238.68 points at 33,058.28. The ... Read More »
Be the first to comment!US Treasury buys time for Biden and GOP on debt limit deal
By Josh Boak, The Associated Press on January 19th, 2023
WASHINGTON (AP) – The countdown toward a possible U.S. government default began Thursday with Treasury implementing accounting measures as a stopgap, while frictions between President Joe Biden and House Republicans raise alarms about whether the U.S. can sidestep a potential economic crisis. The Treasury Department said in a letter to congressional leaders it has started ... Read More »
Be the first to comment!
