Business
TD Bank Group says Charles Schwab investment will add $285M to bank’s Q1 profit
By The Canadian Press on January 19th, 2023
TORONTO – TD Bank Group says it expects its investment in the Charles Schwab Corp. will translate into reported equity in net income of about $285 million for the first-quarter of the bank’s 2023 financial year. TD says the result includes $13 million in acquisition-related charges and $30 million in amortization of acquired intangibles after-tax. ... Read More »
Be the first to comment!Tips for saving at the grocery store as food inflation in Canada continues to soar
By Brett Bundale, The Canadian Press on January 19th, 2023
Jim Dandy reads the grocery store flyers every week. It’s a habit the 79-year-old retiree picked up in childhood and continued while raising three children during law school. “I learned the importance of saving five cents, and that has stuck with me,” Dandy said in an interview from his home in Niagara Falls, Ont. Grocery ... Read More »
Be the first to comment!Wall Street opens lower as recession fears weigh on market
By Yuri Kageyama And Matt Ott, The Associated Press on January 19th, 2023
NEW YORK (AP) – Wall Street is opening lower as worries build that the U.S. may be headed for a painful recession. The S&P 500 fell 0.6% early Thursday. Reports showed weakness in several areas of the economy, including the housing industry and manufacturing in the mid-Atlantic region, though they weren’t quite as bad as ... Read More »
Be the first to comment!Surge of discount airlines making Canada’s pilot shortage worse: experts
By Amanda Stephenson, The Canadian Press on January 19th, 2023
With their promise of cheaper fares and no unnecessary frills, a flurry of so-called discount airlines has burst onto the Canadian scene in the last few years. But experts say the low-cost airline model is exacerbating an already existing pilot shortage that could become an even bigger problem for this country’s aviation industry in the ... Read More »
Be the first to comment!Statistics Canada says wholesale sales up 0.5 per cent in November at $83.8B
By The Canadian Press on January 19th, 2023
OTTAWA – Statistics Canada says wholesale sales rose 0.5 per cent month over month in November to $83.8 billion. The agency says the sales were boosted by the motor vehicle and motor vehicle parts and accessories subsector and the machinery, equipment and supplies group. Sales of motor vehicle and motor vehicle parts and accessories gained ... Read More »
Be the first to comment!TekSavvy asks CRTC to review Rogers deal to sell Freedom to Videotron
By The Canadian Press on January 19th, 2023
CHATHAM, Ont. – TekSavvy Solutions Inc. is asking the federal telecommunications regulator to review a key part of Rogers Communications Inc.’s plan to buy Shaw Communications Inc. and sell Shaw’s Freedom Mobile wireless business to Videotron. The independent internet service provider is asking the CRTC to investigate the part of the deal covering wholesale broadband ... Read More »
Be the first to comment!Microsoft cuts 10,000 jobs, about 5% of global workforce
By Associated Press, The Associated Press on January 18th, 2023
Microsoft is cutting 10,000 workers, almost 5% of its workforce, in response to “macroeconomic conditions and changing customer priorities.” The company said in a regulatory filing Wednesday that had just notified employees of the layoffs, some of which begin immediately. The company said it will also be making changes to its hardware portfolio and consolidating ... Read More »
1 responseDecember retail sales fall 1.1% after slipping in November
By Anne D'innocenzio, The Associated Press on January 18th, 2023
NEW YORK (AP) – Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season. Retail sales fell 1.1% in December, following a revised 1% drop in November, the Commerce Department reported ... Read More »
1 responseWholesale inflation in US slowed further in December to 6.2%
By Christopher Rugaber, The Associated Press on January 18th, 2023
WASHINGTON (AP) – Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight monthly slowdown and a hopeful sign that inflation pressures will continue to cool. The latest year-over-year figure was down from 7.3% in November and from a recent peak of 11.7% in March. On a monthly ... Read More »
1 responseMTY Food Group raising quarterly dividend by 19 per cent
By The Canadian Press on January 18th, 2023
MONTREAL – MTY Food Group Inc. is raising its quarterly dividend by 19 per cent. The company says its quarterly dividend will increase to 25 cents per share from 21 cents. The shares will have an annual yield of about 1.6 per cent based on MTY’s closing share price of $60.72 on Tuesday. MTY CEO ... Read More »
1 responseBMO receives regulatory approval for Bank of the West acquisition
By The Canadian Press on January 18th, 2023
TORONTO – BMO Financial Group says it has received all of the regulatory approvals required to complete its agreement to buy California-based Bank of the West from BNP Paribas. BMO expects to close the deal for the U.S. bank on Feb. 1, subject to customary conditions. The Canadian bank announced its agreement to buy Bank ... Read More »
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