Laurentian Bank concludes review without deal to sell, sticks with plan
By The Canadian Press on September 14th, 2023
MONTREAL – Laurentian Bank has completed its review of strategic options without a deal to sell the bank. It says it has decided that its best path forward to drive shareholder value is an accelerated evolution of its current plan with an increased focus on efficiency and simplification. A strategic review is often seen by ... Read More »
Be the first to comment!CP NewsAlert: Laurentian Bank concludes review without deal to sell, sticks with plan
By The Canadian Press on September 14th, 2023
MONTREAL – Laurentian Bank has completed its review of strategic options without a deal to sell the bank. It says it has decided that its best path forward to drive shareholder value is an accelerated evolution of its current strategic plan with an increased focus on efficiency and simplification. More coming. Companies in this story: ... Read More »
Be the first to comment!Grocer Empire reports Q1 profit and sales up from year ago
By The Canadian Press on September 14th, 2023
STELLARTON, N.S. – Empire Co. Ltd. says it earned $261.0 million in its latest quarter, up from $187.5 million in the same quarter last year, boosted by the sale of its 56 gas stations in Western Canada to Shell Canada. The grocer, which owns Sobeys and Safeway and other banners, says the profit amounted to ... Read More »
Be the first to comment!Credit card debt hit all-time high in Q2 as financial pressure builds: Equifax
By The Canadian Press on September 14th, 2023
TORONTO – Equifax Canada says credit card balances hit an all-time high of $107.4 billion in the second quarter of 2023, in a sign financial stress continued to build in the face of inflation and rising interest rates. The agency says total Canadian consumer debt reached $2.4 trillion during the second quarter. Vice-president of advanced ... Read More »
Be the first to comment!Leaving Google’s search engine isn’t easy, government witness says in antitrust case
By Paul Wiseman, The Associated Press on September 13th, 2023
WASHINGTON (AP) – The U.S. Justice Department pressed ahead with its antitrust case against Google Wednesday, questioning a former employee of the search engine giant about deals he helped negotiate with phone companies in the 2000s. Chris Barton, who worked for Google from 2004 to 2011, testified that he made it a priority to negotiate ... Read More »
Be the first to comment!Olymel announces closures affecting around 400 workers in Ontario and Quebec
By The Canadian Press on September 13th, 2023
Olymel is closing two plants in Quebec and Ontario and accelerating the closure of another facility, affecting around 400 employees as the company says it continues to deal with market challenges. The meat production and processing company says in a press release that the closures are part of measures to reorganize its business lines and ... Read More »
Be the first to comment!S&P/TSX composite posts small gain Wednesday, U.S. stock markets mixed
By The Canadian Press on September 13th, 2023
TORONTO – Canada’s main stock index posted a small gain Wednesday while U.S. stock markets were mixed after the latest report on inflation south of the border. The S&P/TSX composite index closed up 55.86 points at 20,278.94. In New York, the Dow Jones industrial average was down 70.46 points at 34,575.53.The S&P 500 index was ... Read More »
Be the first to comment!Stock market today: Wall Street churns after highly anticipated inflation data
By Stan Choe, The Associated Press on September 13th, 2023
NEW YORK (AP) – Stocks churned to a mixed close on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected. The S&P 500 managed a gain of 0.1% Wednesday after drifting between small gains and losses. The Dow fell 70 points, and ... Read More »
Be the first to comment!Canadian governments, charities and citizens send aid to earthquake-stricken Morocco
By Morgan Lowrie, The Canadian Press on September 13th, 2023
MONTREAL – Hassaan Sheikh says that as his team distributes blankets and mattresses in Moroccan villages, they are told about bodies being discovered under the rubble of homes flattened by last week’s earthquake. Sheikh, a Vancouver-based aid worker with Islamic Relief Canada, says the “complete destruction” from the 6.8-magnitude earthquake makes clear how much help ... Read More »
Be the first to comment!Justice Department pushes ahead with antitrust case against Google, questions ex-employee on deals
By Paul Wiseman, The Associated Press on September 13th, 2023
WASHINGTON (AP) – The U.S. Justice Department pressed ahead with its antitrust case against Google Wednesday, questioning a former employee of the search engine giant about deals he helped negotiate with phone companies in the 2000s. Chris Barton, who worked for Google from 2004 to 2011, testified that he made it a priority to negotiate ... Read More »
Be the first to comment!Feds unveil first deal for new housing accelerator fund in London
By Dylan Robertson, The Canadian Press on September 13th, 2023
LONDON, Ont. – More than 2,000 new housing units should be built in London, Ont., over the next three years as the city became the first in the country to sign a deal under the new national housing accelerator fund Wednesday. Prime Minister Justin Trudeau said he was issuing a challenge to other mayors to ... Read More »
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