Business
‘Consumer demand is not letting up:’ Aritzia posts record sales despite inflation
By Brett Bundale, The Canadian Press on January 12th, 2023
Canadian fashion brand Aritzia Inc.’s sales momentum continued unabated in its latest quarter, appearing nearly immune to the spending pullback plaguing much of the retail industry amid high inflation. “Consumer demand is not letting up and we’re not seeing any notable changes in behaviour,” Aritzia CEO Jennifer Wong said during a conference call on Wednesday ... Read More »
Be the first to comment!Wall Street ticks higher as hot US inflation cools further
By Stan Choe And Damian J. Troise, The Associated Press on January 12th, 2023
NEW YORK (AP) – Wall Street closed higher after a report showed inflation slowed again last month. The S&P 500 rose 0.3% Thursday. The Nasdaq and the Dow each rose 0.6%. While the report on inflation was clearly encouraging, stocks had already rallied earlier this week in anticipation of exactly such data. Analysts warned investors ... Read More »
Be the first to comment!House votes to block China from buying oil from US reserves
By Matthew Daly, The Associated Press on January 12th, 2023
WASHINGTON (AP) – The Republican-controlled House on Thursday voted to block oil from the country’s emergency stockpile from going to China. The bill, one of the first introduced by the new GOP majority, would prohibit the Energy Department from selling oil from the Strategic Petroleum Reserve to companies owned or influenced by the Chinese Communist ... Read More »
Be the first to comment!US inflation eases grip on economy, falling for a 6th month
By Christopher Rugaber, The Associated Press on January 12th, 2023
WASHINGTON (AP) – Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation’s grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it. Inflation declined to 6.5% in December compared with a year earlier, the government said Thursday. It was ... Read More »
1 responseHow technology used by NASA on Mars could reduce emissions from Canada’s oilsands
By Amanda Stephenson, The Canadian Press on January 12th, 2023
CALGARY – The same technology used to search for signs of ancient life on Mars could be key to reducing greenhouse gas emissions from the Canadian oilsands. At least that’s what members of the Pathways Alliance – an industry consortium of this country’s six largest oilsands companies – appear to believe. On Thursday, the group ... Read More »
1 responseBanking regulator launches consultations on mortgage rules, proposes additions
By The Canadian Press on January 12th, 2023
Canada’s banking regulator is launching public consultations on existing and newly proposed mortgage lending rules as it says loan risks have increased considerably since the start of the COVID-19 pandemic. The Office of the Superintendent of Financial Institutions (OFSI) says the consultations around the B-20 mortgage underwriting rules will focus on measures to ensure borrowers ... Read More »
1 responseEnergy and financials help lift S&P/TSX composite, U.S. stock markets mixed
By The Canadian Press on January 12th, 2023
TORONTO – Strength in the energy and financial sectors helped Canada’s main stock index gain more than 100 points in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 105.06 points at 20,130.11. In New York, the Dow Jones industrial average was up 168.59 points at 34,141.60. The S&P 500 ... Read More »
Be the first to comment!Hundreds of jobs affected as Canfor announces pulp line closure at B.C. mill
By The Canadian Press on January 12th, 2023
PRINCE GEORGE, B.C. – An estimated 300 jobs in British Columbia will likely be gone by the end of the year as Canfor Pulp Products closes the pulp line at its Prince George pulp and paper mill. The Vancouver-based company made the announcement about the permanent closure Wednesday, blaming a lack of fibre for its ... Read More »
Be the first to comment!BoC to lose billions over next few years, posing communications challenge: report
By Nojoud Al Mallees, The Canadian Press on January 12th, 2023
OTTAWA – The Bank of Canada may lose up to $8.8 billion over the next few years, according to a new report warning the central bank may run into a communications challenge as a result of the losses. The report from the C.D. Howe Institute estimates the total losses over the next two to three ... Read More »
Be the first to comment!Looking to insure your engagement ring? Review your home policy first
By Tara Deschamps, The Canadian Press on January 12th, 2023
TORONTO – Diamonds may be forever, but most know all it takes is an errant slip or a forgetful wearer for wedding and engagement rings to end up lost for good. Before walking down the aisle, many Canadian couples look into insuring their new rock. “My belief is anything that would be catastrophic to lose ... Read More »
Be the first to comment!Stocks hold steady following report that inflation cooled
By Yuri Kageyama And Matt Ott, The Associated Press on January 12th, 2023
NEW YORK (AP) – Wall Street is opening relatively steady, holding onto most of the gains built recently on hopes that cooling inflation will get the Federal Reserve to take it easier on the economy and markets through smaller hikes to interest rates. The S&P 500 gave up an early gain and was 0.1% lower ... Read More »
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