Detroit automakers and auto workers remain far from a deal as end-of-day strike deadline approaches
By Tom Krisher And David Koenig, The Associated Press on September 14th, 2023
DETROIT (AP) – With a deadline looming just before midnight Thursday, the United Auto Workers union and Detroit’s three automakers remain far apart in contract talks and the union is preparing to strike. The union is demanding a 36% boost in pay and the automakers, General Motors, Ford and Stellantis, formerly Fiat Chrysler, have countered ... Read More »
Be the first to comment!Canopy Growth lands creditor protection for BioSteel business, intends to sell brand
By The Canadian Press on September 14th, 2023
SMITHS FALLS, Ont. – Canopy Growth Corp. says it has obtained creditor protection for its BioSteel Sports Nutrition Inc. division and intends to seek permission to sell the business. The Smiths Falls, Ont., cannabis company says it pursued creditor protection from the Ontario Superior Court of Justice because its sports drink business BioSteel no longer ... Read More »
Be the first to comment!Stock market today: Wall Street opens higher after retail, inflation data
By Elaine Kurtenbach And Matt Ott, The Associated Press on September 14th, 2023
NEW YORK (AP) – Stocks are ticking higher on Wall Street with hopes that central banks around the world are close to done with their hikes to interest rates. The S&P 500 was up 0.5% in early trading Thursday. The Dow rose 148 points and the Nasdaq composite added 0.4%. Some of the strongest action ... Read More »
Be the first to comment!Retail sales rise 0.6% in August largely due to a spike in gas prices
By Anne D'innocenzio, The Associated Press on September 14th, 2023
NEW YORK (AP) – Americans stepped up retail spending modestly from July to August as the price of gasoline jumped, cutting into budgets as many families send their kids off to school. Retail sales rose 0.6% in August, compared with a revised 0.5% increase in July, according to a report issued by the Commerce Department ... Read More »
Be the first to comment!Wholesale price inflation accelerated in August from historically slow pace
By Christopher Rugaber, The Associated Press on September 14th, 2023
WASHINGTON (AP) – U.S. wholesale prices increases accelerated in August, a sign that inflation remains stubbornly persistent despite a series of sharp interest rate hikes by the Federal Reserve. The Labor Department said Thursday that its producer price index – which measures inflation before it hits consumers – increased 1.6% last month from a year ... Read More »
Be the first to comment!Retail sales rise 0.6% in August as inflation on many items eases, but gas price hike boosts number
By Anne D'innocenzio, The Associated Press on September 14th, 2023
NEW YORK (AP) – Americans stepped up retail spending modestly from July to August as the price of gasoline jumped, cutting into budgets as many families send their kids off to school. Retail sales rose 0.6% in August, compared with a revised 0.5% increase in July, according to a report issued by the Commerce Department ... Read More »
Be the first to comment!Wholesale price inflation accelerated in August from low level
By Christopher Rugaber, The Associated Press on September 14th, 2023
WASHINGTON (AP) – U.S. wholesale prices increases accelerated in August, a sign that inflation remains stubbornly persistent despite a series of sharp interest rate hikes by the Federal Reserve. The Labor Department said Thursday that its producer price index – which measures inflation before it hits consumers – increased 1.6% last month from a year ... Read More »
Be the first to comment!Transat AT reports $57.3M Q3 profit, revenue up from year ago
By The Canadian Press on September 14th, 2023
MONTREAL – Transat AT Inc. reported a third-quarter profit of $57.3 million compared with a loss of $106.5 million in the same quarter last year. The travel company says the profit amounted to $1.49 per diluted share for the quarter ended July 31, up from a loss of $2.82 per diluted share a year earlier. ... Read More »
Be the first to comment!Applications for US jobless benefits tick up slightly
By Matt Ott, The Associated Press on September 14th, 2023
The number of Americans applying for unemployment benefits last week ticked up modestly after falling to the lowest level in seven months the week before. U.S. applications for jobless claims rose by 3,000 to 220,000 for the week ending Sept. 9, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the ... Read More »
Be the first to comment!Stranded luxury cruise ship MV Ocean Explorer has been pulled free at high tide in Greenland
By Jan M. Olsen, The Associated Press on September 14th, 2023
COPENHAGEN, Denmark (AP) – The operator of a luxury cruise ship that ran aground in Greenland with 206 people on board said Thursday that the MV Ocean Explorer was “successfully” pulled free by a fisheries research vessel at high tide. The ship’s owner, Copenhagen-based SunStone Ships, said that it was done “based on a pull ... Read More »
Be the first to comment!Europe’s central bank hikes interest rates again even as threat of recession grows
By David Mchugh, The Associated Press on September 14th, 2023
FRANKFURT, Germany (AP) – The European Central Bank piled on a 10th straight interest rate increase Thursday, pressing forward in its fight against stubbornly high inflation that has been plaguing consumers even as worries grow that higher borrowing costs could help push the economy into recession. The increase of a quarter-percentage point comes as central ... Read More »
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