Empire reports $181.1M Q2 profit, down from $189.9M a year ago, sales edge higher
By The Canadian Press on December 14th, 2023
STELLARTON, N.S. – Empire Co. Ltd. reported a second-quarter profit of $181.1 million, down from $189.9 million in the same quarter last year. The grocer, which owns Sobeys, Safeway and FreshCo stores, says the profit amounted to 72 cents per diluted share for the 13-week period ended Nov. 4, down from 73 cents per diluted ... Read More »
Be the first to comment!Bank of England holds interest rates at a 15-year high despite worries about the economy
By Pan Pylas, The Associated Press on December 14th, 2023
LONDON (AP) – The Bank of England kept borrowing rates unchanged Thursday despite mounting worries over the state of the British economy, and it showed little sign that it is contemplating cutting them anytime soon – unlike the U.S. Federal Reserve. The central bank left its main interest rate at a 15-year high of 5.25%, ... Read More »
Be the first to comment!TMX Group buying 78% stake in VettaFi it doesn’t already own for $1.15B
By The Canadian Press on December 14th, 2023
TORONTO – TMX Group Ltd. has signed a deal to buy the 78 per cent stake in VettaFi Holdings LLC that it does not already own for $1.15 billion. U.S.-based VettaFi provides indexing, digital distribution and analytic services to the financial services industry. The operator of the Toronto Stock Exchange acquired a 22 per cent ... Read More »
Be the first to comment!Rogers hails successful satellite-to-mobile phone call, with N.L. premier on one end
By The Canadian Press on December 14th, 2023
ST. JOHN’S, N.L. – Rogers Communications Inc. says it has passed a key milestone in satellite-to-mobile connectivity as the company pushes to bring the technology to the entire country next year. A test call on Sunday connected Newfoundland and Labrador Premier Andrew Furey with Mabel Tilley, a first responder with the Newfoundland and Labrador Search ... Read More »
Be the first to comment!Pope, once a victim of AI-generated imagery, calls for treaty to regulate artificial intelligence
By Nicole Winfield, The Associated Press on December 14th, 2023
ROME (AP) – Pope Francis on Thursday called for an international treaty to ensure artificial intelligence is developed and used ethically, arguing that the risks of technology lacking human values of compassion, mercy, morality and forgiveness are too great. Francis added his voice to increasing calls for binding, global regulation of AI in his annual ... Read More »
Be the first to comment!Cineplex sees $35 million in box office revenues for month of November
By The Canadian Press on December 13th, 2023
TORONTO – Cineplex Inc. says November brought box office revenues of $35 million as Canadians came out to watch the likes of The Marvels and the latest Hunger Games movie. The Toronto-based company says the results compared with box office revenues of $52 million during the same month in 2019, and were slightly lower than ... Read More »
Be the first to comment!Manitoba First Nations appear a step closer to gaining a casino in Winnipeg
By The Canadian Press on December 13th, 2023
WINNIPEG – The Manitoba government indicated it is now open to allowing a First Nations casino in the province’s capital – something Indigenous leaders have long fought for. Premier Wab Kinew says there is no specific proposal on the table right now, but he is open to discussions if an offer comes forward. He says ... Read More »
Be the first to comment!Enbridge to sell Alliance, Aux Sable stakes to Pembina Pipeline for $3.1 billion
By The Canadian Press on December 13th, 2023
CALGARY – Enbridge Inc. says it has agreed to sell its stakes in the Alliance pipeline and Aux Sable gas processing facility to Pembina Pipeline Corp. for $3.1 billion. The Alliance pipeline is a 3,848-kilometre pipeline stretching southeast from B.C. that brings gas into Chicago’s Aux Sable, one of the largest natural gas liquids processing ... Read More »
Be the first to comment!At least one Canadian airline will be gone within two years, Porter CEO predicts
By Christopher Reynolds, The Canadian Press on December 13th, 2023
Porter Airlines CEO Michael Deluce says the travel market is too small to keep all of Canada’s airlines afloat for two more years, even as several embark on swift expansion plans – Porter most of all. His comments come the same day the company announced a partnership deal with Alaska Airlines – 15 days after ... Read More »
Be the first to comment!TSX gains two per cent, led by energy, while U.S. markets also gain after rate hold
By Rosa Saba, The Canadian Press on December 13th, 2023
TORONTO – Strength in energy, utilities and base metals helped lead Canada’s main stock index up almost two per cent on Wednesday, while U.S. markets also jumped after the U.S. Federal Reserve announced it is keeping its overnight rate unchanged. The Fed announced its widely anticipated hold as it also released economic projections showing it ... Read More »
Be the first to comment!Energy stocks help S&P/TSX composite gain two per cent, U.S. stock markets also rise
By The Canadian Press on December 13th, 2023
TORONTO – Strength in energy, utilities and base metals helped lead Canada’s main stock index up almost two per cent on Wednesday, while U.S. markets also jumped after the U.S. Federal Reserve announced it is keeping its overnight rate unchanged. The S&P/TSX composite index gained 395.61 points at 20,629.45. In New York, the Dow Jones ... Read More »
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