Ski-Doo maker BRP feels impact of slower consumer spending as profits, shares drop
By Christopher Reynolds, The Canadian Press on November 30th, 2023
MONTREAL – BRP Inc. saw its third-quarter profits tumble by half from a year earlier, triggering a stock price decline as the recreational vehicle maker felt the squeeze of sluggish consumer spending. The financial drop marked a sharp U-turn from the previous quarter, when earnings jumped 42 per cent year-over-year and optimism rode high atop ... Read More »
Be the first to comment!S&P/TSX composite gains more than 100 points Thursday, U.S. stock markets mixed
By The Canadian Press on November 30th, 2023
TORONTO – Canada’s main stock index gained more than 100 points Thursday, led by strength in financial, industrial and telecom stocks, while U.S. markets were mixed, led by a gain of almost 1.5 per cent on the Dow Jones. The S&P/TSX composite index closed up 120.09 points at 20,236.29. In New York, the Dow Jones ... Read More »
Be the first to comment!Stock market today: Wall Street closes out its best month in more than a year
By Damian J. Troise And Alex Veiga, The Associated Press on November 30th, 2023
NEW YORK – Stocks ended mostly higher on Wall Street and closed out November with big gains. The S&P 500 rose 0.4% Thursday. The index rose 8.9% in November, its biggest monthly gain in more than a year. The Dow jumped 520 points with an assist from Salesforce, which reported better-than-expected results and raised its ... Read More »
Be the first to comment!Banks report higher provisions for bad loans, focus on expenses as economy slows
By Ian Bickis, The Canadian Press on November 30th, 2023
TORONTO – Several Canadian banks on Thursday reported fourth-quarter results that showed rising funds set aside for bad loans, and a heavy focus on expense management, as they prepared for the expected slower economy ahead. TD Bank boosted provisions for potential loan losses to $878 million, RBC is up to $720 million and CIBC amounted ... Read More »
Be the first to comment!Some OPEC+ members will cut the oil that they send to the world to try to boost prices
By Ellen Knickmeyer And Courtney Bonnell, The Associated Press on November 30th, 2023
LONDON (AP) – The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. Lower oil prices have been a good thing for U.S. drivers, who ... Read More »
Be the first to comment!Netflix urges CRTC to recognize its existing contributions to Canadian broadcasting
By The Canadian Press on November 30th, 2023
GATINEAU, Que. – Streaming giant Netflix says the CRTC should recognize the role it already plays in helping fund Canada’s broadcasting industry and reject calls to mandate an additional payment from the company. But if the federal regulator does move ahead with requiring foreign streamers to contribute money to the Canadian content system, it says ... Read More »
Be the first to comment!An appeals court reinstates gag order that barred Trump from maligning court staff in NY fraud trial
By Jennifer Peltz And Michael R. Sisak, The Associated Press on November 30th, 2023
NEW YORK (AP) – A New York appeals court Thursday reinstated a gag order that barred Donald Trump from commenting about court personnel after the former president repeatedly disparaged a law clerk in his New York civil fraud trial. The one-sentence decision from a four-judge panel came two weeks after an individual appellate judge put ... Read More »
Be the first to comment!Some OPEC+ members cut oil they send to the world as they try again to boost prices
By Ellen Knickmeyer And Courtney Bonnell, The Associated Press on November 30th, 2023
LONDON (AP) – The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. Lower oil prices have been a good thing for U.S. drivers, who ... Read More »
Be the first to comment!Canadian government to buy Boeing P8A surveillance planes to replace aging Auroras
By 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. The deal costs more than $10 billion in total, including US$5.9 billion for the jets themselves, and the planes are expected to be delivered in 2026 and 2027. Defence Minister Bill ... Read More »
Be the first to comment!Royal Bank chief executive McKay defends HSBC deal as bank reports profits up
By Ian Bickis, The Canadian Press on November 30th, 2023
TORONTO – RBC chief executive Dave McKay made some of his most forceful comments yet on the importance of the federal government approving the bank’s $13.5-billion takeover of HSBC Canada as the deal attracts rising opposition. Speaking during a conference call to discuss the bank’s fourth-quarter earnings after reporting a rise in profits, McKay said ... Read More »
Be the first to comment!Ski-Doo maker BRP feels impact of slower consumer spending as profits plunge
By Christopher Reynolds, The Canadian Press on November 30th, 2023
MONTREAL – BRP Inc. saw its third-quarter profits tumble by half from a year earlier, as the recreational vehicle maker felt the squeeze of sluggish consumer spending. The financial drop marked a sharp U-turn from the previous quarter, when earnings jumped 42 per cent year-over-year and optimism rode high atop near-record sales for the period. ... Read More »
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