Business
Federal government delivers $9.7 million to support Alberta jobs, hydrogen industry
By The Canadian Press on January 17th, 2023
EDMONTON – The federal government has delivered nearly $10 million to support Alberta’s growing hydrogen industry. The federal money, expected to support 1,600 jobs, is to be augmented by another $3 million from Alberta. Announced this morning in Edmonton, the money is to improve access to hydrogen fuels, support product testing, attract investment and increase ... Read More »
1 responseFood inflation remains stubbornly high despite efforts to quell inflation
By The Canadian Press on January 17th, 2023
TORONTO – Though sky-high inflation started to cool as 2022 wound down, food prices continue to rise faster than overall inflation, affecting consumers’ wallets on a daily basis as interest rates rise. In December, food prices were up 11 per cent on an annual basis compared with 6.3 per cent overall, though food inflation softened ... Read More »
1 responseDespite inflation slowing in December, Bank of Canada still expected to hike rates
By Nojoud Al Mallees, The Canadian Press on January 17th, 2023
OTTAWA – Canada’s annual inflation rate slowed last month but economists are still expecting the Bank of Canada to hike its key interest rate next week. In its latest consumer price index released Tuesday, Statistics Canada said the country’s annual interest rate slowed to 6.3 per cent in December as the cost of groceries remained ... Read More »
1 responseS&P/TSX composite creeps higher in late-morning trading, U.S. stock markets down
By The Canadian Press on January 17th, 2023
TORONTO – Strength in the energy, utility and industrial sectors helped Canada’s main stock index edge higher, while U.S. stock markets fell in late-morning trading. The S&P/TSX composite index was up 8.24 points at 20,398.57. In New York, the Dow Jones industrial average was down 383.09 points at 33,919.52. The S&P 500 index was down ... Read More »
1 responseBarrick reports 2022 gold production below its guidance for the year
By The Canadian Press on January 17th, 2023
TORONTO – Barrick Gold Corp. says its gold production for 2022 came in below its guidance for the year. The company says it produced 4.14 million ounces of gold based on preliminary figures for the year compared with earlier guidance for 4.2 million ounces. Preliminary copper production figures totalled 440 million pounds, in line with ... Read More »
Be the first to comment!Experts weigh in on whether younger generations need life insurance
By Rosa Saba, The Canadian Press on January 17th, 2023
Life insurance may not be top of mind for many young Canadians, but experts say age shouldn’t be the deciding factor in getting such coverage. According to insurance tech company Zelros, younger people across Canada, the U.S. and Europe are less likely to have life insurancecompared with older generations, with just more than half of ... Read More »
Be the first to comment!Stocks edge lower in uncertain trading on Wall Street
By Elaine Kurtenbach And Matt Ott, The Associated Press on January 17th, 2023
BANGKOK – Stocks are edging lower in uncertain trading on Wall Street to kick off a holiday-shortened, but earnings-heavy week. The S&P 500 fell 0.2% in morning trading on Tuesday and stocks in the benchmark index were roughly split between gainers and losers. The Dow Jones Industrial Average and the Nasdaq also fell. Bond yields ... Read More »
Be the first to comment!CMHC reports annual pace of housing starts slowed in December
By The Canadian Press on January 17th, 2023
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in December slowed five per cent compared with November. The national housing agency says the seasonally adjusted annual rate of housing starts in December was 248,625 units compared with 263,022 in November. The drop came as the annual pace of urban ... Read More »
Be the first to comment!Here’s a list of December inflation rates for selected Canadian cities
By The Canadian Press on January 17th, 2023
OTTAWA – Canada’s annual inflation rate was 6.3 per cent in December, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets): – St. John’s, N.L.: 5.6 per cent (6.6) – Charlottetown-Summerside: 8.6 per ... Read More »
Be the first to comment!Here’s a list December inflation rates for Canadian provinces
By The Canadian Press on January 17th, 2023
OTTAWA – Canada’s national annual inflation rate was 6.3 per cent in December, Statistics Canada says. Here’s what happened in the provinces (previous month in brackets): – Newfoundland and Labrador: 5.7 per cent (6.7) – Prince Edward Island: 7.7 per cent (9.7) – Nova Scotia: 7.6 per cent (8.6) – New Brunswick: 6.3 per cent ... Read More »
Be the first to comment!E-commerce company Lightspeed cutting about 300 jobs
By The Canadian Press on January 17th, 2023
MONTREAL – Lightspeed Commerce Inc. is cutting about 300 jobs. The e-commerce company says the move represents about 10 per cent of its head count-related operating expenditures, with half of the cost reduction coming from management. Lightspeed says the reorganization is part of its strategy to unify all of its acquired companies and products. It ... Read More »
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