Stock market today: Wall Street slumps after Fed warns rates may stay higher through 2024
By Stan Choe, The Associated Press on September 20th, 2023
NEW YORK (AP) – U.S. stocks slumped after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 fell 0.9% Wednesday. The Dow lost 76 points, and the Nasdaq composite pulled back 1.5%. While leaving ... Read More »
Be the first to comment!Union’s tentative deal with Ford likely to include ‘significant’ wage gains: expert
By The Canadian Press on September 20th, 2023
TORONTO – The union representing workers at Ford Motor Co. facilities in Canada says its tentative deal with the company includes “transformative” gains, with one observer suggesting significant wage increases are likely. Unifor and Ford reached a preliminary contract agreement late Tuesday night after extending a previous strike deadline by 24 hours. “We believe that ... Read More »
Be the first to comment!Canada Post breaking law by gathering info from envelopes, parcels: privacy watchdog
By Jim Bronskill, The Canadian Press on September 20th, 2023
OTTAWA – The federal privacy watchdog says Canada Post is breaking the law by gleaning information from the outsides of envelopes and packages to help build marketing lists that it rents to businesses. The office of privacy commissioner Philippe Dufresne says information collected for the marketing program includes data about where individuals live and what ... Read More »
Be the first to comment!Growing number of forecasts predict US$100 oil this fall
By The Canadian Press on September 20th, 2023
CALGARY – A growing number of forecasts are calling for the return of US$100 oil before the end of the year. Andrew Botterill with Deloitte Canada says triple-digit crude prices this fall are a growing possibility due to surging global energy demand and decisions by Saudi Arabia and Russia to extend their recent oil production ... Read More »
Be the first to comment!Stock market today: Wall Street stays mixed, bond yields rise after Fed
By Stan Choe, The Associated Press on September 20th, 2023
NEW YORK (AP) – U.S. stocks are mixed Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it. The S&P 500 was 0.1% higher in afternoon trading after briefly turning lower shortly after the announcement. The ... Read More »
Be the first to comment!Nuvei CEO and chair Philip Fayer acquires shares in company
By The Canadian Press on September 20th, 2023
MONTREAL – Nuvei Corp. says chief executive and chair Philip Fayer has acquired more shares in the company. The Montreal-based payment technology company says Fayer has acquired 22,151 subordinate voting shares though the settlement of vested restricted share units. It says Fayer now holds beneficial ownership of, or has control or direction over, 27,857,328 multiple ... Read More »
Be the first to comment!Travellers rattled by Canada-India row, but trip plans remain unchanged
By The Canadian Press on September 20th, 2023
MONTREAL – Travellers and the sector that relies on them are rattled by heightened tensions between Canada and India, but see no reason to rethink their overseas travel plans for now. Urvi Chawla, who works at Sahib Travel Agency in Brampton, Ont., says clients are a little scared, inundating her with questions about visas and ... Read More »
Be the first to comment!Stock market today: Wall Street stays mixed, bond yields spike after Fed updates rate outlook
By Stan Choe, The Associated Press on September 20th, 2023
NEW YORK (AP) – Stocks was mixed and Treasury yields snapped higher after the Federal Reserve pulled back on its estimates of how much it expected to cut interest rates next year. The central bank kept its benchmark rate intact Wednesday, as expected, but it also said it now projects just a half a percentage ... Read More »
Be the first to comment!Fed keeps rates unchanged but signals likelihood of another hike this year to fight inflation
By Christopher Rugaber, The Associated Press on September 20th, 2023
WASHINGTON (AP) – The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed officials also signaled that they expect to raise rates once more this year. The move to leave ... Read More »
Be the first to comment!BoC watching its words to avoid spurring rate cut speculation, summary reveals
By Nojoud Al Mallees, The Canadian Press on September 20th, 2023
OTTAWA – The Bank of Canada was watching its words at its last interest rate announcement, in fear of spurring speculation that rate cuts are coming any time soon. That’s according to the central bank’s summary of deliberations released Wednesday detailing what the governing council discussed in the lead-up to its last rate decision. The ... Read More »
Be the first to comment!Bank of Canada watching its words to avoid spur rate cut speculation, summary reveals
By The Canadian Press on September 20th, 2023
OTTAWA – The Bank of Canada was watching its words at its last interest rate announcement as it sought to avoid spurring speculation that rate cuts are on the table any time soon. That’s according to the central bank’s summary of deliberations released today that detail the governing council discussions leading up to its last ... Read More »
Be the first to comment!
