S&P/TSX composite up 150 points, U.S. stock markets also rise
By The Canadian Press on December 22nd, 2023
TORONTO – Gains in financial and base metals stocks helped lift Canada’s main stock index by more than 100 points in late-morning trading, while U.S. stock markets also rose. The S&P/TSX composite index was up 150.50 points at 20,916.23. In New York, the Dow Jones industrial average was up 35.58 points at 37,439.93. The S&P ... Read More »
Be the first to comment!Federal government posts $15.1 billion deficit between April and October this year
By The Canadian Press on December 22nd, 2023
OTTAWA – The federal government recorded a budgetary deficit of $15.1 billion between April and October, $7 billion of which was in October. The finance department says in its monthly fiscal monitor that the deficit between April and October compared with a deficit of $0.2 billion during the same period last year. Government revenues increased ... Read More »
Be the first to comment!GDP flat for third straight month in Oct. as economy ‘continued to sputter’: StatCan
By Sammy Hudes, The Canadian Press on December 22nd, 2023
Statistics Canada says the economy flatlined once again, with GDP showing no growth in October for the third straight month. “Canada’s economic engine continued to sputter in the fourth quarter,” said Royce Mendes, Desjardins managing director and head of macro strategy, in a note to clients. “As more households and businesses feel the impacts of ... Read More »
Be the first to comment!GDP unchanged for third straight month in October: Statistics Canada
By The Canadian Press on December 22nd, 2023
OTTAWA – Statistics Canada says the economy remained flat in October for the third straight month as services-producing industries edged 0.1 per cent higher, while goods-producing industries were unchanged. It also forecasts that real gross domestic product for November increased 0.1 per cent, with estimated gains in manufacturing, transportation and warehousing, and agriculture, forestry, fishing ... Read More »
Be the first to comment!Federal Reserve’s favored inflation gauge tumbles in November as prices continue to ease
By Paul Wiseman, The Associated Press on December 22nd, 2023
WASHINGTON (AP) – The Federal Reserve’s preferred measure of inflation fell last month in another sign that price pressures easing in the face of the central bank’s interest rate hikes. Friday’s report from the Commerce Department showed that U.S. consumer prices slid 0.1% last month from October and rose 2.6% from November 2022. The month-over-month ... Read More »
Be the first to comment!Federal Reserve’s favored inflation gauge tumbles in November as price pressures continue to ease
By Paul Wiseman, The Associated Press on December 22nd, 2023
WASHINGTON (AP) – The Federal Reserve’s preferred measure of inflation fell last month in another sign that price pressures easing in the face of the central bank’s interest rate hikes. Friday’s report from the Commerce Department showed that U.S. consumer prices slid 0.1% last month from October and rose 2.6% from November 2022. Excluding volatile ... Read More »
Be the first to comment!HSBC expects deal with RBC to close in early 2024 following federal approval
By The Canadian Press on December 22nd, 2023
HSBC says it expects the sale of its Canadian operations to RBC to officially close in the first quarter of 2024 after the transaction passed its final hurdle on Thursday with the approval of Finance Minister Chrystia Freeland. The green light from Freeland came after the Competition Bureau approved the $13.5-billion takeover in September and ... Read More »
Be the first to comment!Freeland approves RBC’s $13.5-billion takeover of HSBC Canada with conditions
By The Canadian Press on December 21st, 2023
OTTAWA – Finance Minister Chrystia Freeland has approved RBC’s $13.5-billion takeover of HSBC Canada, despite calls from opposition politicians and other groups to block it over concerns of reduced competition. Freeland’s approval was the last hurdle for the deal after the Competition Bureau approved it in September. The minister’s approval comes with conditions on RBC, ... Read More »
Be the first to comment!Transportation agency penalizes Air Canada for violating disabilities regulations
By The Canadian Press on December 21st, 2023
GATINEAU, Que. – The Canadian Transportation Agency says it’s issued a $97,500 penalty to Air Canada for violating the Accessible Transportation for Persons with Disabilities Regulations. The penalty of $97,500 is for several violations of the regulations. The agency says that on August 30, Air Canada failed to assist a wheelchair user to disembark its ... Read More »
Be the first to comment!Cardinal Capital Management joins calls for Chamandy to return as Gildan CEO
By The Canadian Press on December 21st, 2023
WINNIPEG – Another shareholder of Gildan Activewear Inc. has joined calls for the company to reinstate Glenn Chamandy as CEO. In a letter to the apparel company’s board, Cardinal Capital Management says it was shocked when the board decided to terminate Chamandy earlier this month. Chamandy was terminated without cause after four decades with the ... Read More »
Be the first to comment!TSX rises more than 150 points as markets gain back some of Wednesday’s losses
By Rosa Saba, The Canadian Press on December 21st, 2023
TORONTO – Strength in base metal and utilities stocks helped Canada’s main stock index rise more than 150 points on Thursday, while U.S. stock markets also climbed higher. Markets made a partial recovery after slumping the day before, with the TSX falling more than one per cent on Wednesday. The S&P/TSX composite index closed up ... Read More »
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