West Fraser Timber permanently closing Fraser Lake, B.C., sawmill
By The Canadian Press on January 22nd, 2024
VANCOUVER – West Fraser Timber Co. Ltd. says it’s permanently closing its sawmill in Fraser Lake, B.C., after an orderly wind-down. The Vancouver-based company says it’s unable to access economically viable fibre in the region. West Fraser says the closure will affect about 175 employees, and it will mitigate the impact by providing work opportunities ... Read More »
Be the first to comment!TSX edges higher, U.S. stocks continue march higher after recent record high
By Rosa Saba, The Canadian Press on January 22nd, 2024
TORONTO – Canada’s main stock index edged higher Monday, while U.S. markets continued to rise after the S&P 500 ended last week at a record high. The S&P/TSX composite index closed up 17.78 points at 20,924.30. In New York, the Dow Jones industrial average was up 138.01 points at 38,001.81. The S&P 500 index was ... Read More »
Be the first to comment!S&P/TSX composite index edges higher, U.S. markets post modest gain
By The Canadian Press on January 22nd, 2024
TORONTO – Canada’s main stock index edged higher Monday, while U.S. markets continued to rise after the S&P 500 ended last week at a record high. The S&P/TSX composite index closed up 17.78 points at 20,924.30. In New York, the Dow Jones industrial average was up 138.01 points at 38,001.81. The S&P 500 index was ... Read More »
Be the first to comment!Stock market today: Wall Street ticks higher and adds to its record high
By Stan Choe, The Associated Press on January 22nd, 2024
NEW YORK (AP) – Wall Street rose again to build on its all-time high reached last week. The S&P 500 added 0.2% Monday. The Dow Jones Industrial Average climbed 0.4%, and the Nasdaq composite rose 0.3%. Stocks climbed as Treasury yields mostly eased in the bond market. Yields have come down considerably since October on ... Read More »
Be the first to comment!Iran is ‘directly involved’ in Yemen Houthi rebel ship attacks, US Navy’s Mideast chief tells AP
By Jon Gambrell, The Associated Press on January 22nd, 2024
JERUSALEM (AP) – Iran is “very directly involved” in ship attacks that Yemen’s Houthi rebels have carried out during Israel’s war against Hamas, the U.S. Navy’s top Mideast commander told The Associated Press on Monday. Vice Adm. Brad Cooper, the head of the Navy’s 5th Fleet, stopped short of saying Tehran directed individual attacks by ... Read More »
Be the first to comment!Algoma Steel says structure collapse Saturday disrupted coke production, no injuries
By The Canadian Press on January 22nd, 2024
SAULT STE. MARIE, Ont. – Algoma Steel Group Inc. says a structure supporting utilities piping at its coke-making plant collapsed on Saturday. The company said there were no injuries, but the incident resulted in a coke oven gas main failure generating abnormal flaring and emissions. It also said effluent entered an adjacent waterway and that ... Read More »
Be the first to comment!U.S. Department of Justice preparing legal brief as both sides appeal Line 5 decision
By The Canadian Press on January 22nd, 2024
WASHINGTON – The U.S. government has been asked to explain how a 1977 energy treaty with Canada would impact efforts to shut down the Line 5 cross-border pipeline. A forthcoming Department of Justice brief will mark the Biden administration’s first official foray into the dispute between Calgary-based Enbridge Inc. and an Indigenous band in Wisconsin. ... Read More »
Be the first to comment!Accelerator Plug and Play entering Canadian fintech market
By The Canadian Press on January 22nd, 2024
TORONTO – Global startup accelerator Plug and Play is entering Canada’s fintech market with Visa Canada as a founding sponsor. Visa says the partnership comes as Canada’s fintech industry is seeing significant potential with an expected compound annual growth rate of 25 per cent through 2029. It says the partnership will build on Visa’s existing ... Read More »
Be the first to comment!Activist investor calls for board overhaul at Parkland Corp. in wake of resignations
By The Canadian Press on January 22nd, 2024
CALGARY – An activist investor says Parkland Corp. needs a complete board overhaul following the recent resignations of two board members. New York-based activist investor Engine Capital LP said in a letter released publicly Monday that it doesn’t believe Parkland’s current board should be responsible for its own refreshment process. Engine said Parkland should collaborate ... Read More »
Be the first to comment!Technology stocks helps S&P/TSX composite index edge higher in late-morning trading
By The Canadian Press on January 22nd, 2024
TORONTO – Strength in technology stocks helped Canada’s main stock index edge higher in late-morning trading, while U.S. stock markets also posted gains. The S&P/TSX composite index was up 3.75 points at 20,910.27. In New York, the Dow Jones industrial average was up 144.64 points at 38,008.44. The S&P 500 index was up 14.89 points ... Read More »
Be the first to comment!Federal corporations to start filing beneficial ownership info with government
By The Canadian Press on January 22nd, 2024
OTTAWA – Industry Minister François-Philippe Champagne says federal corporations are now required to file beneficial ownership information with Corporations Canada and that some of this information will be made available publicly. The change is part of the government’s move to improve corporate transparency. Under the rules, beneficial owners or individuals with significant control are those ... Read More »
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