Stock market today: Wall Street drifts lower following its best month in more than a year
By Zimo Zhong And Matt Ott, The Associated Press on December 1st, 2023
NEW YORK (AP) – Stocks are opening slightly lower on Wall Street as the market comes off its best month in more than a year. The S&P 500 was off 0.2% in the early going Friday. If the losses hold, the benchmark index could break a four-week winning streak. The Dow Jones Industrial Average was ... Read More »
Be the first to comment!Unemployment rate rises to 5.8%, economy adds modest 25,000 jobs in November
By The Canadian Press on December 1st, 2023
OTTAWA – Statistics Canada says the unemployment rate ticked up to 5.8 per cent last month as job creation continues to lag population growth in the country. The federal agency released its November labour force survey today, showing the economy added a modest 25,000 jobs. Manufacturing and construction saw the largest gains in employment, while ... Read More »
Be the first to comment!National Bank reports Q4 profit up from year ago, raises quarterly dividend
By The Canadian Press on December 1st, 2023
MONTREAL – National Bank of Canada reported its fourth-quarter profit rose compared with a year ago and raised its dividend. The bank says it will now make a quarterly payment to shareholders of $1.06 per share, up from $1.02. National Bank says it earned $768 million or $2.14 per diluted share for the quarter ended ... Read More »
Be the first to comment!Cyprus and Chevron reach a deal to develop an offshore natural gas field, ending years of delays
By Menelaos Hadjicostis, The Associated Press on December 1st, 2023
NICOSIA, Cyprus (AP) – The Cyprus government and U.S. energy company Chevron have reached a deal on how to develop the Aphrodite gas field, the first to be discovered under the seafloor off Cyprus, an official said Friday. The field is estimated to hold 4.2 trillion cubic feet of gas. The agreement is “mutually beneficial” ... Read More »
Be the first to comment!BMO Financial Group reports Q4 profit down from year ago, raises dividend
By The Canadian Press on December 1st, 2023
TORONTO – BMO Financial Group raised its dividend as it reported its fourth-quarter profit fell compared with a year ago. The bank says it will now pay a quarterly dividend of $1.51 per share, up from $1.47 per share. The increased payment to shareholders came as BMO said its net income amounted to nearly $1.62 ... Read More »
Be the first to comment!Ontario real estate law update with open bidding option enters into force
By The Canadian Press on December 1st, 2023
TORONTO – New rules for Ontario real estate are coming into force that are meant to provide more clarity and choice for buyers and sellers, though they don’t go as far as some had hoped. The rules, which took effect Friday, include the option for sellers to use an open bidding process, improvements to broker ... Read More »
Be the first to comment!Statistics Canada to release November job report today
By The Canadian Press on December 1st, 2023
OTTAWA – Statistics Canada is set to release its November labour force survey this morning. The report will shed light on the unemployment rate last month, as well as whether the economy added or lost jobs. RBC says it expects employment rose by 15,000, while the unemployment rate ticked up to 5.8 per cent as ... Read More »
Be the first to comment!Federal judge blocks Montana’s first-in-the-nation ban on TikTok, says it’s unconstitutional
By The Associated Press on November 30th, 2023
HELENA, Mont. (AP) – A federal judge ruled Thursday that Montana can’t enforce a first-in-the-nation law banning the video sharing app TikTok in the state while a legal challenge to the law moves through the courts. U.S. District Judge Donald Molloy said the ban “oversteps state power and infringes on the Constitutional right of users ... Read More »
Be the first to comment!Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls
By The Canadian Press on November 30th, 2023
CALGARY – The Canada Energy Regulator has approved preliminary interim tolls for the expanded Trans Mountain pipeline. The approval will enable Trans Mountain Corp. to begin charging oil shippers once the pipeline expansion, which is still under construction, becomes operational early next year. The newly approved benchmark fixed toll of $10.88 per barrel means oil ... Read More »
Be the first to comment!Spectrum auction wraps, bringing more than $2.1 billion
By The Canadian Press on November 30th, 2023
OTTAWA – The federal government has announced the results of its latest spectrum auction offering telecommunications companies the chance to purchase chunks of mid-band wireless spectrum touted for being able to carry a lot of data over long distances. Telus Communications Inc. was awarded the most licences in the provisional results, having secured 1,430 licences ... Read More »
Be the first to comment!‘The only choice’: Defence Department going with Boeing to replace aging Aurora fleet
By Sarah Ritchie and Christopher Reynolds, The Canadian Press on November 30th, 2023
OTTAWA – The federal government is buying at least 14 Boeing surveillance planes from the United States to replace the aging CP-140 Aurora fleet, cabinet ministers announced Thursday. The deal costs more than $10.3 billion in total, including US$5.9 billion for the jets themselves, and the planes are expected to be delivered in 2026 and ... Read More »
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