S&P/TSX composite gains more than 200 points Friday, U.S. stock markets also rise
By The Canadian Press on December 1st, 2023
TORONTO – Canada’s main stock index gained more than 200 points Friday on broad-based strength led by base metals, industrials and telecom stocks, while U.S. markets also rose. The S&P/TSX composite index closed up 216.58 points at 20,452.87. In New York, the Dow Jones industrial average was up 294.61 points at 36,245.50.The S&P 500 index ... Read More »
Be the first to comment!Stock market today: Wall Street gains ground following its best month in more than a year
By Damian J. Troise And Alex Veiga, The Associated Press on December 1st, 2023
NEW YORK – Stocks gained ground on Wall Street as the market comes off its best month in more than a year. The S&P 500 rose 0.6% Friday, marking its fifth straight week of gains. The Dow Jones Industrial Average rose 294 points and the Nasdaq composite added 0.6%. In company news, Ulta Beauty soared ... Read More »
Be the first to comment!Calgary sees another home sales gain in November as prices jump nearly 11%
By The Canadian Press on December 1st, 2023
CALGARY – The Calgary Real Estate Board says the city saw 1,787 home sales in November, marking an 8.8 per cent increase compared with the same month last year as the ratio of sales to new listings remained high at 80 per cent. New listings rose nearly 40 per cent compared with last year, reaching ... Read More »
Be the first to comment!Banks focus on staff cuts, provisions for bad loans in Q4 ahead of uncertain 2024
By Ian Bickis, The Canadian Press on December 1st, 2023
TORONTO – Fewer employees and more money set aside for bad loans were two of the dominant themes of Canadian bank earnings this past quarter as they prepared for whatever may come next year. Fourth quarter results that wrapped on Friday showed the country’s banks were preparing for a potentially tougher road ahead, but also ... Read More »
Be the first to comment!Cracks in job market grow as BoC succeeds at slowing economy to a near halt
By Nojoud Al Mallees, The Canadian Press on December 1st, 2023
OTTAWA – Canada’s unemployment rate continues to trend higher as the Bank of Canada’s steep interest rate hikes weigh down the economy leaves workers with fewer options in the job market. Statistics Canada released its November labour force survey on Friday, which showed the jobless rate rose to 5.8 per cent. The economy added a ... Read More »
Be the first to comment!Walmart Canada investing $1 billion in modernization, ‘store of the future’
By The Canadian Press on December 1st, 2023
Walmart Canada says it will invest nearly $1 billion this fiscal year on a slew of projects meant to modernize the retail giant’s Canadian footprint. The spending will include more than $300 million for store remodels and renovations. Some of the chain’s stores will be altered to include larger produce areas with an expanded assortment ... Read More »
Be the first to comment!BMO sees higher cost savings ahead thanks to Bank of the West, cuts to real estate
By Ian Bickis, The Canadian Press on December 1st, 2023
TORONTO – BMO Financial Group said Friday it expects higher cost savings from its US$16.3 billion Bank of the West acquisition as part of a wider focus on efficiencies to weather the economic slowdown. The bank expects synergies from combining the banks of US$800 million, up almost 20 per cent from its previous estimate, while ... Read More »
Be the first to comment!Deals to sell BioSteel assets result in $30.4M in aggregate gross proceeds: Canopy
By The Canadian Press on December 1st, 2023
SMITHS FALLS, Ont. – Canopy Growth Corp. says the aggregate gross proceeds from selling off its sports drink business total $30.4 million. The Smiths Falls, Ont., cannabis company says the proceeds come from two agreements linked to BioSteel Sports Nutrition Inc. that have closed. The first deal involved the sale of BioSteel Canada to DC ... Read More »
Be the first to comment!First Quantum starts arbitration process to protect rights at Cobre Panama
By The Canadian Press on December 1st, 2023
TORONTO – First Quantum Minerals Ltd. says it has started arbitration proceedings to protect its rights at its Cobre Panama mine which has been the subject of environmental protests. The Canadian miner says its Minera Panamá SA subsidiary has started the action before the International Court of Arbitration to protect its rights under a concession ... Read More »
Be the first to comment!The hidden environmental cost of your overflowing email inbox
By Ab Nacef, The Canadian Press on December 1st, 2023
When consumers think about ways to reduce their carbon footprint, lowering their car usage, eating fewer animal products and reducing their waste likely come to mind.”¯ But there’s another, perhaps easier, way to cut your emissions: delete old emails.”¯ Your overflowing email inbox is a lesser-known climate villain, consuming energy and collectively producing hundreds of ... Read More »
Be the first to comment!Unemployment rate rises to 5.8% in November as job market continues to cave
By Nojoud Al Mallees, The Canadian Press on December 1st, 2023
OTTAWA – Canada’s unemployment rate ticked up to 5.8 per cent last month, as high interest rates weigh on job creation at a time when the country’s population is growing rapidly. Statistics Canada released its November labour force survey Friday, showing the economy added a modest 25,000 jobs, slightly surpassing forecasters’ expectations. Manufacturing and construction ... Read More »
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