Charlie Munger, Warren Buffet’s sidekick at Berkshire Hathaway, dies at 99
By The Associated Press on November 28th, 2023
Charlie Munger, who helped Warren Buffett build Berkshire Hathaway into an investment powerhouse, has died. He was 99. Munger’s death was confirmed in a statement from the company, which said he died Tuesday at a California hospital. Munger served as Buffett’s sounding board on investments and business decisions and helped lead Berkshire as its vice ... Read More »
Be the first to comment!First Quantum suspends commercial operations at Cobre Panama mine after Panama court declares contract unconstitutional
By Kathia MartÃnez And Juan Zamorano, The Associated Press on November 28th, 2023
PANAMA CITY (AP) – First Quantum Minerals Ltd. is suspending operations at its Cobre Panama mine as intense environmental protests block crucial accesses to the site. “Due to the continued illegal blockades at the Punta Rincón port and roads to the site, the Cobre Panama mine has suspended commercial production and is applying a program ... Read More »
Be the first to comment!Stock market today: Wall Street drifts to a mostly higher close and Treasury yields fall
By Damian J. Troise And Alex Veiga, The Associated Press on November 28th, 2023
NEW YORK – Stocks drifted to a mostly higher close following a strong report on consumer confidence and growing hopes that the Federal Reserve is finished with its aggressive interest rate hikes. The S&P 500 rose 0.1% Tuesday. The Dow Jones Industrial Average added 83 points and the Nasdaq composite climbed 0.3%. Treasury yields fell ... Read More »
Be the first to comment!Fed’s Waller raises possibility of a rate cut by spring if inflation keeps slowing
By Christopher Rugaber, The Associated Press on November 28th, 2023
WASHINGTON (AP) – A key Federal Reserve official raised the possibility Tuesday that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily. The official, Christopher Waller, a member of the Fed’s Board of Governors, cautioned that inflation is still too high and that it’s not ... Read More »
Be the first to comment!Scotiabank profits weighed down by bad loan provisions, layoff charges
By Ian Bickis, The Canadian Press on November 28th, 2023
TORONTO – Scotiabank’s profits took a sizable hit last quarter as it felt the early effects of the slowing economy, and prepared for worse to come. The bank on Tuesday kicked off the fourth quarter banking results by reporting a net income of almost $1.39 billion, or $1.02 per diluted share for the quarter ended ... Read More »
Be the first to comment!CIB provides $52M loan for Thompson Regional Airport redevelopment in Manitoba
By The Canadian Press on November 28th, 2023
THOMPSON, Man. – The Canada Infrastructure Bank has signed a deal to lend $52 million to help pay for the redevelopment of Manitoba’s Thompson Regional Airport including the replacement of the terminal building which is sinking into the permafrost. CIB says that without the financing and other government support, the existing airport terminal building would ... Read More »
Be the first to comment!Saudi Arabia’s capital Riyadh chosen to host the 2030 World Expo
By Thomas Adamson And Sylvie Corbet, The Associated Press on November 28th, 2023
ISSY-LES-MOULINEAUX, France (AP) – Saudi Arabia’s capital Riyadh was chosen on Tuesday to host the 2030 World Expo, beating out South Korean port city Busan and Rome for an event expected to draw millions of visitors. Riyadh was picked by a majority of 119 out of 165 votes by the member states of the Paris-based ... Read More »
Be the first to comment!Energy stocks help lift S&P/TSX composite in late-morning trading
By The Canadian Press on November 28th, 2023
TORONTO – Strength in the energy stocks helped lift Canada’s main stock index higher in late-morning trading, while U.S. stock markets also rose. The S&P/TSX composite index was up 28.19 points at 20,060.85. In New York, the Dow Jones industrial average was up 127.65 points at 35,461.12. The S&P 500 index was up 8.43 points ... Read More »
Be the first to comment!Online streamers should direct 2% of Canadian revenues to local content: Rogers
By The Canadian Press on November 28th, 2023
GATINEAU, Que. – Rogers Communications Inc. says online streaming giants should be forced to contribute two per cent of their annual Canadian revenues to support Canadian and Indigenous content. The Toronto-based media and telecommunications company told a CRTC panel Tuesday that some of those funds collected from streamers like Netflix and YouTube should be directed ... Read More »
Be the first to comment!Fed’s Waller: Interest rates are likely high enough to bring inflation back to 2% target
By Christopher Rugaber, The Associated Press on November 28th, 2023
WASHINGTON (AP) – A key Federal Reserve official said Tuesday that he is “increasingly confident” that the Fed’s interest rate policies will succeed in bringing inflation back to the central bank’s 2% target level. The official, Christopher Waller, a member of the Fed’s Board of Governors, cautioned that inflation is still too high and that ... Read More »
Be the first to comment!Porter, Air Transat launch joint venture to gird against domestic competition
By The Canadian Press on November 28th, 2023
MONTREAL – Porter Airlines and Air Transat are announcing a joint venture as the two carriers look to expand their range of destinations and tap into each other’s markets. For Toronto-based Porter, the deal will open the gate to Europe and sunny southern getaways currently being served by Air Transat. Meanwhile, the Montreal-based airline, which ... Read More »
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