Stock market today: Wall Street drifts amid worries about profits and hopes for a just-right economy
By Stan Choe, The Associated Press on November 16th, 2023
NEW YORK (AP) – Stocks drifted to a mixed close as momentum stalled following Wall Street’s hot first half of November. The S&P 500 rose 0.1% Thursday. The Dow slipped 45 points, and the Nasdaq composite rose less than 0.1%. Walmart and Cisco slumped after giving disappointing forecasts. Oil companies also fell sharply after crude ... Read More »
Be the first to comment!FlightHub CEO sees early warnings signs of softer travel demand
By Christopher Reynolds, The Canadian Press on November 16th, 2023
MONTREAL – Demand for air travel may be levelling off after soaring to pre-pandemic levels over the summer, says FlightHub’s CEO. Christopher Cave said airline ticket sales dropped from September to October, when they typically rise ahead of the holiday season. “There is a bit of anxiety around ticket prices. There is a bit of ... Read More »
Be the first to comment!CDPQ investing $200 million in Swedish battery company Northvolt
By The Canadian Press on November 16th, 2023
MONTREAL – Quebec’s pension fund manager is investing $200 million in Swedish company Northvolt AB which announced plans in September to build a factory for electric vehicle batteries near Montreal. The investment by the Caisse de dépôt et placement du Québec will be in the form of convertible debt in the company. Construction of Northvolt’s ... Read More »
Be the first to comment!Thousands of Starbucks workers go on a one-day strike, one of busiest days of year for the chain
By Dee-ann Durbin, The Associated Press on November 16th, 2023
NEW YORK (AP) – Workers at more than 200 U.S. Starbucks locations walked off the job Thursday in what organizers said was the largest strike yet in the two-year-old effort to unionize the company’s stores. The Workers United union chose Starbucks’ annual Red Cup Day to stage the walkout since it’s usually one of the ... Read More »
Be the first to comment!FlightHub CEO sees early warnings signs of softening travel demand
By The Canadian Press on November 16th, 2023
MONTREAL – The CEO of online travel agency FlightHub says demand for air travel may be levelling off after soaring to pre-pandemic levels over the summer. Christopher Cave says airline ticket sales dropped from September to October, when they typically rise ahead of the holiday season. Cave says consumer anxiety over travel costs and the ... Read More »
Be the first to comment!General Motors becomes 1st of Detroit automakers to seal deal with unionized workers
By Tom Krisher, The Associated Press on November 16th, 2023
DETROIT (AP) – United Auto Workers union members have voted to approve a new contract with General Motors, making the company the first Detroit automaker to get a ratified deal that could end a contentious labor dispute and a series of crippling strikes. A vote-tracking spreadsheet on the union’s website shows that with all local ... Read More »
Be the first to comment!Thousands of Starbucks workers go on a one-day strike
By Dee-ann Durbin, The Associated Press on November 16th, 2023
NEW YORK (AP) – Workers at more than 200 U.S. Starbucks walked off the job Thursday in what organizers said was the largest strike yet in the two-year-old effort to unionize the company’s stores. The Workers United union chose Starbucks’ annual Red Cup Day to stage the walkout since it’s usually one of the busiest ... Read More »
Be the first to comment!S&P/TSX composite index down in late-morning trading, U.S. stocks also lower
By The Canadian Press on November 16th, 2023
TORONTO – Canada’s main stock index was down in late-morning trading, as losses in the base metal and energy stocks helped lead the way lower and U.S. stock markets also fell. The S&P/TSX composite index was down 74.82 points at 19,983.07. In New York, the Dow Jones industrial average was down 141.40 points at 34,849.81. ... Read More »
Be the first to comment!Online resources can help bridge gap for young investors seeking financial advice
By Ritika Dubey, The Canadian Press on November 16th, 2023
TORONTO – While some financial advisers might be unwilling to take on younger clients with small accounts, experts say that shouldn’t deter young investors from beginning their financial journey and that online resources can be a good place to start learning. Karlee Vukets, a certified financial planner who works with clients aged 25 to 40, ... Read More »
Be the first to comment!Frustrated tech leaders call for progress on open banking to increase competition
By Ian Bickis, The Canadian Press on November 16th, 2023
TORONTO – Members of Canada’s increasingly frustrated fintech sector are calling on the federal government to move ahead with promised plans to give consumers more control over their financial data. Dozens of tech leaders sent a letter Thursday to Finance Minister Chrystia Freeland arguing that Canada is falling behind as an increasing number of countries ... Read More »
Be the first to comment!U.S. applications for jobless claims rise as labor market begins to show some signs of cooling
By Matt Ott, The Associated Press on November 16th, 2023
More Americans filed for jobless claims last week and while the labor market remains broadly healthy, there have are growing signs that it may finally be cooling. Applications for unemployment benefits rose by 13,000 to 231,000 for the week ending Nov. 11, the Labor Department reported Thursday. That’s the most in three months. Jobless claim ... Read More »
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