Increase in U.S. softwood lumber duties ‘entirely unwarranted,’ trade minister says
By The Canadian Press on February 1st, 2024
OTTAWA – The federal government is lashing out at the U.S. Commerce Department over plans to raise duties on Canadian softwood lumber. International Trade Minister Mary Ng says the U.S. has signalled it intends to raise duties to 13.86 per cent, up from 8.05 per cent. Ng calls the move disappointing and entirely unwarranted. It’s ... Read More »
Be the first to comment!TSX gains almost 100 points, U.S. markets recover bulk of Wednesday selloff
By Rosa Saba, The Canadian Press on February 1st, 2024
TORONTO – Canada’s main stock index gained almost a hundred points Thursday despite weakness in energy stocks, while U.S. markets erased a big chunk of their losses from the day before. “It’s certainly a recovery from yesterday’s reaction to the Federal Reserve news, which was really that there wouldn’t be rate cuts coming in March,” ... Read More »
Be the first to comment!Stock market today: Wall Street rebounds to its best day in weeks, led by Big Tech
By Stan Choe, The Associated Press on February 1st, 2024
NEW YORK (AP) – Wall Street burst out of its hangover Thursday, as U.S. stocks bounced back in a widespread rally following their worst day since September. The S&P 500 gained 1.2% to recover three quarters of its sharp loss from the day before. The Dow Jones Industrial Average rose 369 points, or 1%, while ... Read More »
Be the first to comment!S&P/TSX composite gains almost 100 points, U.S. markets also rise Thursday
By The Canadian Press on February 1st, 2024
TORONTO – Canada’s main stock index gained almost a hundred points Thursday despite weakness in energy stocks, while U.S. markets erased a big chunk of their losses from the day before. The S&P/TSX composite index closed up 97.33 points at 21,119.21. In New York, the Dow Jones industrial average was up 369.54 points at 38,519.84. ... Read More »
Be the first to comment!Stock market today: Wall Street rebounds from its worst day in months to recover most of the loss
By Stan Choe, The Associated Press on February 1st, 2024
NEW YORK (AP) – Stocks bounced back from their worst drop since September. The S&P 500 rose 1.2% Thursday to recover three quarters of its sharp loss from the day before. The Dow Jones Industrial Average climbed 1%, and the Nasdaq composite added 1.3%. Big Tech stocks led Wall Street in a mirror reverse of ... Read More »
Be the first to comment!European Union overcomes threat of Hungary veto to seal $54 billion aid package for Ukraine
By Lorne Cook And Samuel Petrequin, The Associated Press on February 1st, 2024
BRUSSELS (AP) – Leaders of the 27 European Union countries sealed a deal Thursday to provide Ukraine with 50 billion euros ($54 billion) in support for its war-ravaged economy after Hungary dropped weeks of threats to veto the measure. European Council President Charles Michel said the agreement “locks in steadfast, long-term, predictable funding for Ukraine” ... Read More »
Be the first to comment!Air Transat flight attendants reject tentative deal for a second time
By The Canadian Press on February 1st, 2024
MONTREAL – The union representing 2,100 Air Transat flight attendants says they have rejected a tentative agreement for the second time this year. Some 82 per cent of the votes cast were opposed to the would-be deal, which the Canadian Union of Public Employees had reached with the airline in early January. The union says ... Read More »
Be the first to comment!Calgary sees bump in home sales but inventory remains low in tight market
By The Canadian Press on February 1st, 2024
CALGARY – The Calgary Real Estate Board says there were 1,650 home sales in January, marking a 37.7 per cent year-over-year increase as the city saw a 15.4 per cent bump in newly listed homes. The unadjusted residential benchmark price rose to $572,300, which was 10 per cent higher than January 2023. The board says ... Read More »
Be the first to comment!Canada Goose eyes price hikes as budgets tighten at home but business booms in China
By Christopher Reynolds, The Canadian Press on February 1st, 2024
Canada Goose Holdings Inc. said further price increases are on the table even as buyers rethink their spending choices amid higher inflation and interest rates over the past two years. Those financial pressures make for what chairman and CEO Dani Reiss called a “challenging consumer environment” globally. But the luxury apparel company still sees room ... Read More »
Be the first to comment!Rogers CEO not concerned by higher churn rate as company reports Q4 profit down
By Sammy Hudes, The Canadian Press on February 1st, 2024
The chief executive of Rogers Communications Inc. dismissed analyst concerns about wireless customers leaving the carrier, saying the company was focused on its premium brand where performance was stronger. Speaking Thursday on the company’s fourth-quarter earnings call, Rogers CEO Tony Staffieri said there was a “heightened level of what I would call promotional activity in ... Read More »
Be the first to comment!Graduates entering weak markets face long-term effects, lower earnings: TD Economics
By Ritika Dubey, The Canadian Press on February 1st, 2024
TORONTO – According to a new report from TD Economics, recent graduates entering the job market during high unemployment may see a lasting impact on their earnings, especially for younger and inexperienced workers. The report says first jobs are an important rung in the career ladder, but those graduating into an economic downturn are likely ... Read More »
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