European Central Bank hikes interest rates for ninth time to combat inflation
By David Mchugh, The Associated Press on July 27th, 2023
FRANKFURT, Germany (AP) – The European Central Bank raised interest rates for the ninth straight time in its yearlong campaign to stamp out painfully high inflation, even as worries about recession fuel speculation that Thursday’s hike could be its last. ECB President Christine Lagarde had all but promised the quarter-percentage point increase. That puts the ... Read More »
Be the first to comment!EU investigates Microsoft over concerns bundling Teams with Office eliminates competition
By Raf Casert, The Associated Press on July 27th, 2023
BRUSSELS (AP) – The European Union said Thursday that it has opened an antitrust investigation into Microsoft over concerns that bundling its Teams messaging and videoconferencing app with its Office productivity software gives it an unfair edge over competitors. The European Commission, the 27-nation bloc’s top competition enforcer, said it would carry out its in-depth ... Read More »
Be the first to comment!EU opens antitrust investigation against Microsoft over Office and videoconferencing Teams bundling
By The Associated Press on July 27th, 2023
BRUSSELS (AP) – The European Union announced Thursday that it opened a formal antitrust investigation targeting Microsoft into the software company’s Teams messaging and videoconferencing app over concerns that its bundling with its Office productivity sofware suite gives it an unfair edge over competitors. The European Commission, the 27-nation bloc’s top competition enforcer, said that ... Read More »
Be the first to comment!Canada Goose launches second-hand, trade-in program in Canada
By Tara Deschamps, The Canadian Press on July 27th, 2023
TORONTO – Your next Canada Goose coat might be on its second life by the time it gets to you. The Toronto-based, luxury apparel company announced Thursday that it is bringing Generations, a platform allowing consumers to shop for and trade in pre-loved pieces from the brand, to Canada. Pieces available for trade-in or purchase ... Read More »
Be the first to comment!Mutinous soldiers claim to have overthrown Niger’s president
By Sam Mednick, The Associated Press on July 26th, 2023
NIAMEY, Niger (AP) – Mutinous soldiers claimed to have overthrown Niger’s democratically elected president, announcing on state television late Wednesday that they have put an end to the government over the African country’s deteriorating security. The soldiers said all institutions had been suspended and security forces were managing the situation. They urged external partners not ... Read More »
Be the first to comment!GFL Environmental sees revenue, net income grow in second quarter
By The Canadian Press on July 26th, 2023
VAUGHAN, Ont. – GFL Environmental Inc. says its net income from continuing operations was $293.8 million in the second quarter, up from $82.6 million a year earlier. The Vaughan, Ont.-based company says revenue for the quarter ended June 30 was $1.9 billion, up from $1.7 billion during the second quarter last year. Diluted earnings per ... Read More »
Be the first to comment!Federal Reserve raises rates for 11th time to fight inflation but gives no clear sign of next move
By Christopher Rugaber, The Associated Press on July 26th, 2023
WASHINGTON (AP) – The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months as part of its ongoing drive to curb inflation. But it provided little guidance about when – or whether – it might hike rates again. Wednesday’s move raised the Fed’s benchmark short-term rate from roughly 5.1% ... Read More »
Be the first to comment!Canada geese ‘stained’ with crude oil at Imperial Oil facility in Alberta
By The Canadian Press on July 26th, 2023
CALGARY – The Alberta Energy Regulator says a flock of Canada geese were stained with oil after landing on a lagoon at an Imperial Oil facility northwest of Cold Lake. The regulator says the 12 geese were found after Imperial reported Monday that it had accidentally released an estimated 900 litres of crude oil into ... Read More »
Be the first to comment!New electric vehicle charging network being built by major automakers could lure more buyers to EVs
By Tom Krisher, The Associated Press on July 26th, 2023
DETROIT (AP) – The announcement Wednesday that seven major automakers are joining to build a large North American electric vehicle charging network should pull people off the sidelines to at least consider shifting away from gas-powered vehicles. That’s how auto industry analysts see the move by General Motors, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis ... Read More »
Be the first to comment!S&P/TSX composite steps higher Wednesday, U.S. stock markets mixed after rate hike
By The Canadian Press on July 26th, 2023
TORONTO – Canada’s main stock index posted anemic gains Wednesday as gains in battery metals, industrials and healthcare balanced out weakness in technology stocks, while U.S. markets were mixed after another central bank rate hike. The S&P/TSX composite index closed up 10.11 points at 20,561.64. In New York, the Dow Jones industrial average was up ... Read More »
Be the first to comment!Stock market today: Wall Street ends mixed after Fed raises interest rates
By Stan Choe, The Associated Press on July 26th, 2023
NEW YORK (AP) – Wall Street held steady after the Federal Reserve followed through on expectations and raised its benchmark interest rate to its highest level in more than two decades. Treasury yields fell following Wednesday’s announcement, which traders hope will mark the final increase of this cycle. The S&P 500 closed just barely lower. ... Read More »
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