Stock market today: Wall Street falls after profit warnings, strong economic data
By Stan Choe, The Associated Press on October 26th, 2023
NEW YORK (AP) – Wall Street fell in mixed trading after some big-name companies warned about an uncertain global economy hitting their upcoming profits. Reports also showed Thursday that the U.S. economy continues to storm ahead despite much higher interest rates that have already lashed the stock market. The S&P 500 lost 1.2%. Another steep ... Read More »
Be the first to comment!Hurricane Otis survivors search for friends and necessities in devastated Acapulco
By Mark Stevenson, The Associated Press on October 26th, 2023
ACAPULCO, Mexico (AP) – Survivors of the Pacific hurricane that killed at least 27 people as it devastated Acapulco spent Thursday searching for acquaintances and necessities and hoping that aid arrives quickly in the wake of Hurricane Otis. Resentment grew in impoverished neighborhoods as residents worried that government attention would go to repairing tourism infrastructure, ... Read More »
Be the first to comment!Rogers shuts down CityNews Ottawa radio station, lays off newsroom staff
By The Canadian Press on October 26th, 2023
OTTAWA – Rogers Communications Inc. says it is closing its CityNews Ottawa radio station and laying off newsroom staff. Rogers Sports & Media spokeswoman Charmaine Khan says the decision, effective Thursday, is due to low audiences, declining revenue and “restrictive” regulatory policies for AM radio. She says the number of employees cut is less than ... Read More »
Be the first to comment!Doug Ford, François Legault call for swift end to St. Lawrence Seaway strike
By The Canadian Press on October 26th, 2023
The premiers of Ontario and Quebec are calling on both sides in the St. Lawrence Seaway strike to reach a deal right away, saying the shutdown of the vital trade artery risks significant harm to the region’s economy. In a joint statement Thursday, Doug Ford and François Legault said they were pleased the two parties ... Read More »
Be the first to comment!‘A sculpture garden’: acclaimed artist to design Calgary museum terrace
By The Canadian Press on October 26th, 2023
CALGARY – A globally recognized artist is to design the rooftop terrace for the Glenbow Museum in Calgary. The 13,000-square-foot terrace will be housed at the JR Shaw Centre for Arts and Culture. The museum says Maya Lin, best known for designing the Vietnam Veterans Memorial in Washington, is to take on the Glenbow project. ... Read More »
Be the first to comment!Otis’ stunning turn to monster Pacific hurricane kills at least 27 in Acapulco
By Mark Stevenson, The Associated Press on October 26th, 2023
ACAPULCO, Mexico (AP) – Otis’ stunning transformation into a monster hurricane killed at least 27 people as it devastated Acapulco, officials said Thursday. President Andrés Manuel López Obrador went by road after the hurricane hit the iconic city on Mexico’s Pacific coast, where at least four people remained missing. He said Otis had toppled every ... Read More »
Be the first to comment!Self-reported paid sick leave coverage has increased ‘moderately’ since 1995: StatCan
By The Canadian Press on October 26th, 2023
OTTAWA – Statistics Canada says self-reported paid sick leave coverage has increased moderately since 1995, but coverage for front-line workers is still far from universal. The federal agency says that approximately 64 per cent of workers reported having paid sick leave coverage in November 2022, in comparison to 56 per cent in November 1995. Self-reported ... Read More »
Be the first to comment!S&P/TSX composite down as tech stocks fall, U.S. stock markets also lower
By The Canadian Press on October 26th, 2023
TORONTO – Weakness in technology stocks helped lead Canada’s main stock index lower in late-morning trading, while U.S. stock markets also moved lower. The S&P/TSX composite index was down 27.54 points at 18,920.31. In New York, the Dow Jones industrial average was down 114.57 points at 32,921.36. The S&P 500 index was down 29.50 points ... Read More »
Be the first to comment!Home sales, prices will likely fall in short term but pick up next spring: TD report
By The Canadian Press on October 26th, 2023
TORONTO – A new report by TD Economics predicts Canadian home sales and average prices will fall over the coming months but pick up by the second quarter next year. Economist Rishi Sondhi says the impact of higher interest rates continues to be felt, which will likely push sales and prices lower by 10 and ... Read More »
Be the first to comment!Aecon shares sink more than 15% as it faces troubles with legacy projects
By The Canadian Press on October 26th, 2023
TORONTO – Shares of Aecon Group Inc. fell more than 15 per cent Thursday morning after the company said it faced challenges with four large fixed-price legacy projects being carried out by joint ventures in which it is a partner. In reporting its third-quarter results, the company says it took an operating loss related to ... Read More »
Be the first to comment!US economic growth accelerated to strong 4.9% rate last quarter as consumers shrugged off Fed hikes
By Christopher Rugaber, The Associated Press on October 26th, 2023
WASHINGTON (AP) – The nation’s economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace. The Commerce Department said the economy expanded last quarter at the fastest pace in nearly two years – ... Read More »
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