Stock market today: Wall Street closes mixed after 7 straight weeks of gains
By Damian J. Troise And Alex Veiga, The Associated Press on December 18th, 2023
NEW YORK – Stocks ended mixed on Monday as Wall Street’s seven-week winning streak cooled off. The S&P 500 rose 0.5% and the Nasdaq composite picked up 0.6%, while the Dow Jones Industrial Average finished essentially flat after most of a 0.2% gain faded by late afternoon. Retailers and big technology companies were among the ... Read More »
Be the first to comment!Energy stocks help S&P/TSX composite rise almost 100 points, U.S. markets move higher
By The Canadian Press on December 18th, 2023
TORONTO – Strength in energy stocks helped Canada’s main stock index gain almost 100 points Monday, while U.S. markets were also higher. The S&P/TSX composite index closed up 93.56 points at 20,622.71. In New York, the Dow Jones industrial average was up 0.86 points at 37,306.02. The S&P 500 index was up 21.37 points at ... Read More »
Be the first to comment!Oxford Properties sells stake in two Greater Toronto industrial parks for $1B
By The Canadian Press on December 18th, 2023
TORONTO – Alternative asset management firm TPG has acquired a 75 per cent stake in two Greater Toronto Area industrial business parks from developer Oxford Properties Group for $1 billion. Oxford will continue to manage the two properties, located in Brampton and Vaughan, spanning a combined 5.1 million square feet, and maintain a 25 per ... Read More »
Be the first to comment!Trans Mountain project costs ‘reasonably and justifiably incurred:’ company says
By Amanda Stephenson, The Canadian Press on December 18th, 2023
CALGARY – The company building the Trans Mountain pipeline expansion has submitted evidence to support its claim that oil companies must pay more in tolls in light of the pipeline project’s mounting costs. In a new regulatory filing, Trans Mountain Corp. calls the increased capital costs of the pipeline expansion project – which have ballooned ... Read More »
Be the first to comment!TD racial equity audit finds bank has taken significant steps, more work to be done
By The Canadian Press on December 18th, 2023
TORONTO – TD Bank Group has released its first racial equity audit that finds the bank has taken significant steps toward promoting diversity and inclusion, but could do more on aspects like consistency and measurement. TD was the first of the Big Six banks, and among the first companies in Canada, to agree to conduct ... Read More »
Be the first to comment!Love it or hate it, self-checkout is here to stay. But it’s going through a reckoning
By Anne D'innocenzio, The Associated Press on December 18th, 2023
NEW YORK (AP) – The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labor costs. All that has happened since the rollout of self-checkout but so has this: Customers griping about ... Read More »
Be the first to comment!Trans Mountain project costs ‘reasonably and justifiably incurred:’ Crown corporation
By The Canadian Press on December 18th, 2023
CALGARY – The company building the Trans Mountain pipeline has submitted evidence to support its claim that oil companies must pay more in tolls in light of the pipeline project’s mounting costs. Trans Mountain Corp. says in a new regulatory filing that the increased costs of the pipeline expansion project were “reasonably and justifiably incurred.” ... Read More »
Be the first to comment!Houthi attacks on commercial ships have upended global trade in vital Red Sea corridor
By Courtney Bonnell, The Associated Press on December 18th, 2023
LONDON (AP) – The attacks on commercial vessels in the Red Sea by Yemen’s Houthi rebels have scared off some of the world’s top shipping companies and oil giants, effectively rerouting global trade away from a crucial artery for consumer goods and energy supplies that is expected to trigger delays and rising prices. BP said ... Read More »
Be the first to comment!Fears of Houthi attacks are rerouting commercial ships away from the Red Sea
By Courtney Bonnell, The Associated Press on December 18th, 2023
LONDON (AP) – The attacks on commercial vessels in the Red Sea by Yemen’s Houthi rebels have scared off some of the world’s top shipping companies and oil giants, effectively rerouting global trade away from a crucial artery for consumer goods and energy supplies that is expected to trigger delays and rising prices. BP said ... Read More »
Be the first to comment!Annual rent increases slowing as average asking price reaches $2,174 in November
By The Canadian Press on December 18th, 2023
A report says the average asking price for a rental unit in Canada was $2,174 in November, relatively flat from the previous month but an 8.4 per cent increase year-over-year. The data released Friday by Rentals.ca and Urbanation, which analyzes monthly listings from the former’s network, shows the annual rate of rent growth in Canada ... Read More »
Be the first to comment!Canopy Growth sells This Works skin care brand to U.K. investment firm
By The Canadian Press on December 18th, 2023
SMITHS FALLS, Ont. – Canopy Growth Corp. says it has sold its This Works skin care and wellness brand to a U.K. investment firm. The Smiths Falls, Ont.-based cannabis company says the deal with Inspirit Capital is valued at up to $15.9 million. Under the deal, Canopy will receive an upfront payment of $4.6 million ... Read More »
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