Macklem warned premiers about dangers of putting BoC’s independence at risk
By Nojoud Al Mallees, The Canadian Press on October 24th, 2023
OTTAWA – Bank of Canada Governor Tiff Macklem warned premiers who publicly asked the central bank to not raise interest rates last month that their requests could undermine the institution’s independence. The premiers of Ontario, British Columbia and Newfoundland and Labrador wrote to Macklem ahead of the Bank of Canada’s Sept. 6 rate decision, outlining ... Read More »
Be the first to comment!Grocers called back to Parliament to testify about plans to stabilize prices
By The Canadian Press on October 24th, 2023
OTTAWA – A House of Commons committee is asking the heads of Canada’s major grocery chains to explain their plans to stabilize food prices. The committee passed an NDP motion on Thursday to invite the grocery executives, and summon them if necessary, to testify about the measures their companies are taking to address food inflation. ... Read More »
Be the first to comment!Unifor set to bargain for more than 2,800 workers at Loblaw-owned stores
By The Canadian Press on October 24th, 2023
TORONTO – Unifor is set to bargain on behalf of more than 2,800 grocery store workers at Loblaw-owned stores in Ontario and Newfoundland and Labrador, testing whether the union can bring the gains it made for Toronto Metro workers to other grocery chains. More than 3,700 Metro workers in Greater Toronto went on strike this ... Read More »
Be the first to comment!TFI International Inc. reports US$133.3 million net income amid weaker demand
By The Canadian Press on October 23rd, 2023
MONTREAL – TFI International Inc. says its net income for the third quarter was US$133.3 million, down from US$245.2 million a year earlier. The Montreal-based transportation company says revenue for the quarter ended Sept. 30 was US$1.9 billion, down from US$2.2 billion last year. TFI says the decline in revenues was due in part to ... Read More »
Be the first to comment!TSX down, U.S. markets mixed amid ongoing uncertainty over interest rates
By Rosa Saba, The Canadian Press on October 23rd, 2023
TORONTO – Losses in energy and metals stocks led the way down for Canada’s main stock index Monday, while U.S. markets ended the day mixed. The S&P/TSX composite index closed down 68.90 points at 19,046.74. In New York, the Dow Jones industrial average was down 190.87 points at 32,936.41. The S&P 500 index was down ... Read More »
Be the first to comment!S&P/TSX composite down Monday, U.S. stock markets mixed
By The Canadian Press on October 23rd, 2023
TORONTO – Losses in energy and metals stocks led the way down for Canada’s main stock index Monday, while U.S. markets ended the day mixed. The S&P/TSX composite index closed down 68.90 points at 19,046.74. In New York, the Dow Jones industrial average was down 190.87 points at 32,936.41. The S&P 500 index was down ... Read More »
Be the first to comment!Autoworkers strike at Stellantis plant shutting down big profit center, 41,000 workers now picketing
By Tom Krisher And David Koenig, The Associated Press on October 23rd, 2023
DETROIT – The United Auto Workers union has once again escalated its strikes against big Detroit automakers, this time adding a factory that makes Ram pickup trucks for Stellantis. The union says that 6,800 members walked out Monday morning and shut down the Sterling Heights, Michigan, Assembly Plant, a huge profit center for the company. ... Read More »
Be the first to comment!Bell Media signs deal to buy Outfront Media’s Canadian business for $410 million
By Sammy Hudes, The Canadian Press on October 23rd, 2023
TORONTO – Bell Media announced a tentative $410-million deal Monday to buy the Canadian operations of outdoor advertising company Outfront Media Inc. in a move that experts say could solidify its hold on the out-of-home advertising market. The acquisition, which is expected to close in 2024 subject to regulatory approval and other conditions, would see ... Read More »
Be the first to comment!An off-duty pilot is accused of trying to shut down the engines of a Horizon Air jet in midflight
By David Koenig And Claire Rush, The Associated Press on October 23rd, 2023
PORTLAND, Ore. (AP) – An off-duty pilot riding in the extra seat in the cockpit of a Horizon Air passenger jet tried to shut down the engines in midflight and had to be subdued by the crew, according to a pilot flying the plane. Authorities in Oregon identified the man as Joseph David Emerson, 44. ... Read More »
Be the first to comment!Fraser says housing measures coming in budget update, weighs in on short-term rentals
By Nojoud Al Mallees, The Canadian Press on October 23rd, 2023
OTTAWA – Housing Minister Sean Fraser says the federal government will reveal more housing measures in the fall budget update and in the coming months. In a news conference on Monday, he also weighed in on how the federal government can address the strain short-term rentals are putting on housing affordability. “You should expect to ... Read More »
Be the first to comment!What to know about the St. Lawrence Seaway strike
By The Canadian Press on October 23rd, 2023
MONTREAL – The St. Lawrence Seaway has shut down as hundreds of workers walked off the job Sunday. Here are answers to a few key questions about what’s going on: What is the St. Lawrence Seaway? The St. Lawrence Seaway is a marine shipping route that links the Atlantic Ocean to the Great Lakes through ... Read More »
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