Stock market today: Wall Street rises after corporate profits top forecasts and oil prices sink more
By Stan Choe, The Associated Press on October 24th, 2023
NEW YORK (AP) – Wall Street closed higher after Verizon and other big companies reported fatter profits for the summer than expected. The S&P 500 rose 0.7% Tuesday. The Dow added 204 points, and the Nasdaq composite climbed 0.9%. The pace is picking up for profit reports, and the hope is that companies in the ... Read More »
Be the first to comment!AI pioneer Yoshua Bengio wishes Canada’s AI legislation was further along by now
By Tara Deschamps, The Canadian Press on October 24th, 2023
TORONTO – Artificial intelligence icon Yoshua Bengio wishes Canadian legislation on theincreasingly mighty technology he pioneered would be further along by now. Bengio, who is best known for his status as one of the godfathers of AI but also runs Quebec-based AI research institute Mila, expressed his disappointment with the pace of Bill C-27 in ... Read More »
Be the first to comment!TSX moves lower Tuesday ahead of Bank of Canada rate announcement, U.S. markets rise
By Rosa Saba, The Canadian Press on October 24th, 2023
TORONTO – Canada’s main stock index moved lower Tuesday, as energy and battery metals led the way lower on a mixed day of trading, while U.S. markets rose. “Today seems more of a sort of a choppy consolidation day after the big volatility yesterday,” said Tamsin Wilding, principal and portfolio manager for fixed income at ... Read More »
Be the first to comment!Scotiabank says it will close eight branches across rural Newfoundland
By The Canadian Press on October 24th, 2023
ST. JOHN’S, N.L. – Scotiabank says it is closing eight branches across rural Newfoundland. A spokesperson for the Canadian banking giant confirmed in a series of emails that branches in Grand Bank, Twillingate, Lewisporte, Bonavista, Burgeo, Flowers Cove, Deer Lake and Whitbourne will close. Daniela Da Silva did not say when the branches will close, ... Read More »
Be the first to comment!CN Rail profits plummet as consumer demand falls and B.C. port strike takes its toll
By The Canadian Press on October 24th, 2023
MONTREAL – Canadian National Railway Co. is reporting a nearly one-quarter drop in profits for the three months ended Sept. 30. Canada’s largest railway says falling consumer demand and fallout from the B.C. port workers’ strike dented its cargo volumes and revenue last quarter, alongside lower fuel surcharges. The Montreal-based company says net income in ... Read More »
Be the first to comment!S&P/TSX composite posts modest loss Tuesday, U.S. stock markets move higher
By The Canadian Press on October 24th, 2023
TORONTO – Canada’s main stock index moved lower Tuesday, as energy and battery metals led the way lower on a mixed day of trading, while U.S. markets rose. The S&P/TSX composite index closed down 60.25 points at 18,986.49. In New York, the Dow Jones industrial average was up 204.97 points at 33,141.38. The S&P 500 ... Read More »
Be the first to comment!Freeland says feds will strike ‘challenging’ balance in fall budget update
By The Canadian Press on October 24th, 2023
OTTAWA – Finance Minister Chrystia Freeland says the government’s fall economic statement will focus on housing and affordability within a fiscally responsible framework. In an news conference today, Freeland acknowledges it will be a challenging balance to strike, but says the Liberals are committed to it. The federal government’s financial statements were published today, revealing ... Read More »
Be the first to comment!Grain farmers hit by seaway strike, as both sides agree to sit down with mediator
By Christopher Reynolds, The Canadian Press on October 24th, 2023
MONTREAL – The federal government has instructed workers and management in the St. Lawrence Seaway strike to sit down with a mediator this Friday and hash out their differences, as groups ranging from grain farmers to steelmakers feel the squeeze. The job action by 361 Unifor members at 13 of the 15 locks along the ... Read More »
Be the first to comment!In courtroom faceoff, Michael Cohen says he was told to boost Trump’s asset values ‘arbitrarily’
By Jake Offenhartz And Jennifer Peltz, The Associated Press on October 24th, 2023
NEW YORK (AP) – Donald Trump’s fixer-turned-foe Michael Cohen faced off with him at the former president’s civil fraud trial Tuesday, testifying that he worked to boost asset values to “whatever number Trump told us to.” Five years after turning on a boss that he once pledged to “take a bullet” for, Cohen is a ... Read More »
Be the first to comment!As Teck weighs offers for coal business, likelihood of regulatory approval a factor
By Amanda Stephenson, The Canadian Press on October 24th, 2023
The head of Teck Resources Ltd. says he will only accept a bid for the company’s steelmaking coal business if he feels confident Canadian regulators will approve the transaction. Jonathan Price, CEO of Canada’s largest diversified mining company, made the comments on Tuesday as part of an update on Teck’s ongoing efforts to separate its ... Read More »
Be the first to comment!UAW strikes at General Motors plant in Texas as union begins targeting the cash cows of automakers
By Tom Krisher, The Associated Press on October 24th, 2023
DETROIT (AP) – The United Auto Workers union turned up the heat on General Motors as 5,000 workers walked off their jobs Tuesday at a highly profitable SUV factory in Arlington, Texas. The walkout comes one day after the union went on strike at a Stellantis pickup truck factory in Sterling Heights, Michigan, north of ... Read More »
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