Business
China’s economy grew 3% last year, not even half 2021’s rate
By The Associated Press on January 16th, 2023
BEIJING (AP) – China’s economic growth fell to 3% last year under pressure from antivirus controls and a real estate slump but is gradually reviving after restrictions that kept millions of people at home were lifted. Growth of the world’s second largest economy slid to 2.9% over a year earlier in December from the previous ... Read More »
Be the first to comment!OPSEU files lawsuit alleging financial improprieties against 3 former execs
By The Canadian Press on January 16th, 2023
TORONTO – The Ontario Public Service Employees’ Union has filed a lawsuit against three former executives, alleging financial improprieties. The union is seeking nearly $6 million it alleges was unlawfully transferred to former president Warren (Smokey) Thomas, former first vice-president/treasurer Eduardo Almeida and former financial services administrator Maurice Gabay, as well as millions more in ... Read More »
Be the first to comment!First Quantum Minerals releases preliminary production for 2022 and guidance
By The Canadian Press on January 16th, 2023
VANCOUVER – First Quantum Minerals Ltd. says it expects copper and gold production for 2022 to be down from 2021, at 4.9 per cent and 8.3 per cent respectively, while it expects nickel production to be 29.4 per cent higher. The Vancouver-based company says its Cobre Panama mine delivered record production in 2022. That mine ... Read More »
Be the first to comment!Union calls CRA labour complaint hypocritical ahead of strike votes and tax season
By Rosa Saba, The Canadian Press on January 16th, 2023
The union representing more than 35,000 Canada Revenue Agency (CRA) employees said the agency’s recent labour practices complaint against it is hypocritical as strike votes loom ahead of tax season. “I find it insulting,” said Marc Brière, national president of the Union of Taxation Employees (UTE). On Friday, the Canada Revenue Agency (CRA) filed an ... Read More »
Be the first to comment!S&P/TSX composite makes small gain Monday ahead of inflation release
By The Canadian Press on January 16th, 2023
TORONTO – Canada’s main stock index saw a small uptick Monday as broad-based gains helped keep it in the green on a slow trading day. The S&P/TSX composite index was up 30.23 points at 20,390.33. U.S. stock markets are closed for the Martin Luther King Jr. Day holiday. The Canadian dollar traded for 74.64 cents ... Read More »
Be the first to comment!P.E.I. premier asking Ottawa to reduce tolls for Confederation Bridge and ferry fares
By The Canadian Press on January 16th, 2023
CHARLOTTETOWN – The premier of Prince Edward Island is asking the federal government to reduce the tolls for the Confederation Bridge to make trips to and from the mainland more affordable. Dennis King said Monday he wants the toll for cars to drop to $20 from $50.25 by September to eliminate what he calls a ... Read More »
Be the first to comment!Bank of Canada appoints Nicolas Vincent as new deputy governor
By The Canadian Press on January 16th, 2023
OTTAWA – The Bank of Canada has appointed Nicolas Vincent, an economics professor at HEC Montreal, as a non-executive deputy governor for a two-year term. As a non-executive, Vincent will be a member of the governing council but will not hold other responsibilities at the Bank of Canada. The Bank of Canada’s governing council is ... Read More »
Be the first to comment!Bank of Canada’s business and consumer surveys show signs of a weakening economy
By Nojoud Al Mallees, The Canadian Press on January 16th, 2023
OTTAWA – With high inflation and rising interest rates taking a bite out of paycheques, the Bank of Canada says businesses expect sales to slow as consumers pull back on spending. The central bank released its fourth-quarter business outlook and consumer expectation surveys Monday, revealing most businesses and consumers expect a recession in the next ... Read More »
1 responseP.E.I. premier asking Ottawa to reduce toll for Confederation Bridge
By The Canadian Press on January 16th, 2023
CHARLOTTETOWN – The premier of Prince Edward Island is asking the federal government to reduce the toll for the Confederation Bridge to make trips to the mainland more affordable. Dennis King says he wants the current toll for cars to drop to $20 from $50.25 by September to eliminate what he calls a “competitive disadvantage” ... Read More »
1 responseCRA files labour complaint against union amid bargaining impasse ahead of tax season
By The Canadian Press on January 16th, 2023
OTTAWA – The Canada Revenue Agency (CRA) has filed an unfair labour practices complaint against the union representing taxation employees, claiming it is not bargaining in good faith. The Public Service Alliance of Canada ““ Union of Taxation Employees (PSAC-UTE) left the bargaining table on Sept. 1, declaring an impasse in negotiations, then withdrew from ... Read More »
1 responseTech, energy and industrials help lead S&P/TSX composite up in late-morning trading
By The Canadian Press on January 16th, 2023
TORONTO – Gains in the technology, energy and industrial sectors helped lead Canada’s main stock index higher in late-morning trading. The S&P/TSX composite index was up 69.77 points at 20,429.87. U.S. stock markets are closed for the Martin Luther King Jr. Day holiday. The Canadian dollar traded for 74.66 cents US compared with 74.59 cents ... Read More »
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