Shopify, Amazon strike deal to integrate ‘Buy with Prime’ in Shopify stores
By The Canadian Press on August 31st, 2023
TORONTO – Shopify Inc. has reached an agreement with rival Amazon.com Inc. that will allow Shopify merchants to embed Amazon’s logistics capabilities within their Shopify stores. The competing e-commerce companies say the deal centres on an app Amazon will release within Shopify’s ecosystem letting U.S. merchants that use Amazon’s fulfilment network to add Buy with ... Read More »
Be the first to comment!Stock market today: Wall Street opens modestly higher but still headed for a loss in August
By Joe Mcdonald And Matt Ott, The Associated Press on August 31st, 2023
NEW YORK (AP) – Stocks are opening modestly higher on Wall Street, on track to end a mostly miserable August on an up note. The S&P 500 was up 0.2% in early Thursday. It’s still on track for its first monthly loss since February. The Dow rose 165 points, or 0.5%. The Nasdaq composite was ... Read More »
Be the first to comment!Intact Financial estimates Q3 catastrophe losses so far at $570 million
By The Canadian Press on August 31st, 2023
TORONTO – Intact Financial Corp. estimates that its catastrophe losses due to wildfires and other weather events total about $570 million for the third quarter so far. The property and casualty insurance company says the amount comes to about $2.40 per share, but noted the wildfires continue to burn and actual losses may differ from ... Read More »
Be the first to comment!US applications for jobless claims inch back down as companies hold on to their employees
By Matt Ott, The Associated Press on August 31st, 2023
U.S. applications for unemployment benefits fell slightly last week as companies held on to employees in an economy that has largely withstood rapidly rising interest rates for more than a year. The number of Americans applying for jobless benefits last fell week by 4,000, to 228,000 the week ending August 26, the Labor Department reported ... Read More »
Be the first to comment!Fed’s preferred inflation gauge shows a modest rise in latest sign of slowing price increases
By Christopher Rugaber, The Associated Press on August 31st, 2023
WASHINGTON (AP) – An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September. Thursday’s report from the Commerce Department showed that prices rose just 0.2% from ... Read More »
Be the first to comment!MDA signs deal to buy digital payload division of SatixFy Communications
By The Canadian Press on August 31st, 2023
BRAMPTON, Ont. – MDA Ltd. has signed an agreement to buy the digital payload division of SatixFy Communications Ltd. in a deal valued at US$40 million. MDA chief executive Mike Greenley says the deal for SatixFy Space Systems UK Ltd. (SSS) helps the company’s strategy to invest and expand in next generation satellite technology. Greenley ... Read More »
Be the first to comment!Tidewater signs deal to sell Pipestone and Dimsdale assets to AltaGas for $650M
By The Canadian Press on August 31st, 2023
CALGARY – Tidewater Midstream and Infrastructure Ltd. has signed a deal to sell its Pipestone natural gas plant and expansion project as well as its Dimsdale natural gas storage facility to AltaGas Ltd. for $650 million in cash and shares. The company says it expects to use the net proceeds from the sale for general ... Read More »
Be the first to comment!Laurentian Bank reports $49.3M Q3 profit, down from $55.9M a year ago
By The Canadian Press on August 31st, 2023
MONTREAL – Laurentian Bank of Canada reported a third-quarter profit of $49.3 million, down from $55.9 million in the same quarter last year. The bank, which announced it was conducting a review of its strategic options in July, said the profit amounted to $1.03 per diluted share of the quarter ended July 31, down from ... Read More »
Be the first to comment!CIBC reports $1.43B Q3 profit, down from $1.67B a year ago
By The Canadian Press on August 31st, 2023
TORONTO – CIBC reported its third-quarter profit fell more than 10 per cent compared with a year ago as the amount it set aside for bad loans in the quarter tripled. The bank says it earned $1.43 billion or $1.47 per diluted share for the quarter ended July 31, down from a profit of $1.67 ... Read More »
Be the first to comment!Metro workers to vote today on second tentative agreement after month-long strike
By The Canadian Press on August 31st, 2023
TORONTO – Metro workers from 27 stores in the Greater Toronto Area are voting this afternoon on a second tentative deal, which if ratified will end a more than month-long strike. The Montreal-based grocer and the Unifor bargaining committee reached a deal on Wednesday. The deal came one day after Metro was granted a temporary ... Read More »
Be the first to comment!N.B. forest strategy lauded for conservation, criticized for lack of tree diversity
By Hina Alam, The Canadian Press on August 30th, 2023
FREDERICTON – For the first time, the New Brunswick government is considering the risks of climate change in its long-term forest-management strategy, but critics say the province’s interests are still too weighted in favour of industry over environment. The new forestry plan, presented Wednesday by Natural Resources Minister Mike Holland, promises to restore the area ... Read More »
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