Business
Germany’s defense minister resigns amid Ukraine criticism
By The Associated Press on January 16th, 2023
BERLIN (AP) – German Defense Minister Christine Lambrecht has resigned following persistent criticism of her handling of military modernization programs and the country’s arms deliveries to Ukraine. Lambrecht said in a statement Monday that she had submitted her resignation request to Chancellor Olaf Scholz, saying that “months of media focus on my person” had stood ... Read More »
Be the first to comment!Bank of Canada to release business outlook and consumer expectations surveys today
By The Canadian Press on January 16th, 2023
OTTAWA – The Bank of Canada will release its business outlook and consumer expectations surveys this morning. The surveys will provide insight on how inflation expectations among businesses and consumers have evolved in the fourth quarter. Amid decades-high inflation, the Bank of Canada has been concerned about elevated business and consumer inflation expectations. The central ... Read More »
Be the first to comment!Stores launch Lunar New Year sales during typically slow shopping season
By Brett Bundale, The Canadian Press on January 15th, 2023
When Madelyn Chung was growing up, just a handful of stores had Lunar New Year displays. It felt like a special homage to her Chinese culture. Now she looks at the proliferation of Lunar New Year retail sales and marketing campaigns across Canada with a more critical eye. “I equate it to rainbow washing or ... Read More »
Be the first to comment!Trust essential in work-from-home era, experts say, after ‘time theft’ ruling
By Brenna Owen, The Canadian Press on January 15th, 2023
VANCOUVER – Employers and work-from-home staff must tread a fine line between trust, monitoring and micromanaging,experts say, in the new age of remote employment. Their comments come days after British Columbia’s Civil Resolution Tribunal ordered an accountant to pay her former employer more than $2,600 after tracking software showed she engaged in “time theft” while ... Read More »
Be the first to comment!Federal committee will take another look at Rogers-Shaw deal
By The Canadian Press on January 13th, 2023
OTTAWA – The House of Commons industry and technology committee is planning to hold another study into the proposed Rogers-Shaw merger. Conservative MP Rick Perkins and New Democrat MP Brian Masse confirmed to The Canadian Press the committee plans to meet on Jan. 25 to review the proposed $26 billion transaction. The Federal Court of ... Read More »
1 responseS&P/TSX composite rises 150 points Friday, U.S. markets also higher
By The Canadian Press on January 13th, 2023
TORONTO – Canada’s main stock index rose almost 150 points Friday on broad-based gains, while U.S. markets also rose. The S&P/TSX composite index was up 148.90 points at 20,360.10. In New York, the Dow Jones industrial average was up 112.64 points at 34,302.61. The S&P 500 index was up 15.92 points at 3,999.09,while the Nasdaq ... Read More »
1 responseWall Street ends higher as company earnings season kicks off
By Stan Choe And Damian J. Troise, The Associated Press on January 13th, 2023
NEW YORK (AP) – Stocks closed higher on Wall Street as earnings reporting season got underway and CEOs began to show how well or poorly they’re navigating high inflation and a slowing economy. The S&P 500 rose 0.4% Friday after erasing an earlier loss. The benchmark index closed out its best week in two months ... Read More »
1 responseCanadian Pacific Railway and Unifor reach tentative deal for 1,200 workers
By The Canadian Press on January 13th, 2023
CALGARY – Canadian Pacific Railway Ltd. and Unifor have reached a tentative collective agreement for 1,200 workers who are responsible for maintaining rail cars and locomotives. The company and the union say details of the tentative contract will not be released publicly until the agreement has been ratified. Unifor says it will provide members with ... Read More »
1 responseTesla cuts vehicle prices in bid to boost flagging demand
By Tom Krisher, The Associated Press on January 13th, 2023
DETROIT (AP) – With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. The company dropped prices nearly 20% in the United States on some ... Read More »
1 responseResilient economy may muddle inflation fight, recession still expected: economists
By Ian Bickis, The Canadian Press on January 13th, 2023
TORONTO – Canadian households and the overall economy have proven surprisingly resilient in the face of rising interest rates, said senior economists from the big banks, which could complicate the fight against inflation. “There’s no question that the economy had much more momentum at the end of last year than really anyone was expecting,” said ... Read More »
Be the first to comment!Explosion in gas pipeline in Lithuania, no injuries reported
By The Associated Press on January 13th, 2023
VILNIUS, Lithuania (AP) – An explosion occurred Friday in a gas pipeline in central Lithuania, officials said. Baltic media reported that it caused no injuries but sent flames up to 50 meters (164 feet) high and forced the protective evacuation of a nearby village. The operator of Lithuania’s natural gas transmission system, AB Amber Grid, ... Read More »
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