Railway container shipments plummet amid B.C. port strike, hurting small businesses
By Christopher Reynolds, The Canadian Press on July 13th, 2023
MONTREAL – Railways suffered a sharp drop-off in container shipments this month as the strike by B.C. port workers halted more than half of steel-box cargo. Canadian National Railway Co.’s revenue ton miles – a key industry metric used to gauge income and freight volume – fell 60 per cent in the first week of ... Read More »
Be the first to comment!By the numbers: What the latest interest rate hike means for your mortgage
By The Canadian Press on July 13th, 2023
This week, the Bank of Canada hiked interest rates yet again, raising its key interest rate by a quarter of a percentage point to 5 per cent, and the prime rate to 7.2 per cent. That means the cost of borrowing in this country is now the highest it’s been since 2001. Here’s a by-the-numbers ... Read More »
Be the first to comment!Experts doubt whether illegal magic mushroom stores will advance drug policy
By Thomas MacDonald, The Canadian Press on July 13th, 2023
MONTREAL – Magic mushroom stores are opening illegally across Canada, challenging the country’s drug laws, but experts say the illicit vendors are unlikely to radically advance acceptance of the hallucinogenic fungi among authorities – or the public. Psilocybin – the psychedelic compound in magic mushrooms – is increasingly used in clinical trials examining its therapeutic ... Read More »
Be the first to comment!Written in the stars: The legendary tale of Maritime ice cream favourite Moon Mist
By Brett Bundale, The Canadian Press on July 13th, 2023
HALIFAX – The lore in the Hart household was as rich as the ice cream served every day. After joining his family’s creamery business, the story goes, Bruce Hart travelled from Nova Scotia to the U.S. to attend ‘Ice Cream University.’ The dates and places are foggy – as often happens with family history passed ... Read More »
Be the first to comment!S&P/TSX composite up nearly 150 points, U.S. stock markets also rise
By The Canadian Press on July 13th, 2023
TORONTO – Strength in the technology sector and the base metal stocks helped lead a broad-based rally as Canada’s main stock index gained nearly 150 points in late-morning trading, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 148.89 points at 20,219.66. In New York, the Dow Jones industrial average was ... Read More »
Be the first to comment!Railway container shipments plummet amid B.C. port workers strike
By The Canadian Press on July 13th, 2023
MONTREAL – Railways are facing a sharp drop-off in container shipments as the strike by B.C. port workers halted more than half of steel-box cargo so far this month. RBC Dominion Securities analyst Walter Spracklin says Canadian National Railway Co.’s revenue-ton-miles – a key industry metric used to gauge income and freight volume – fell ... Read More »
Be the first to comment!Corus Entertainment selling Toon Boom Animation subsidiary for $147.5M
By The Canadian Press on July 13th, 2023
TORONTO – Corus Entertainment Inc. says it has signed a deal to sell its Montreal-based animation software subsidiary Toon Boom Animation Inc. to Integrated Media Company (IMC) for $147.5 million in cash. Colin Bohm, executive vice-president of content and corporate strategy at Corus, says the move will free up capital, increase the company’s financial flexibility ... Read More »
Be the first to comment!Hollywood actors poised to join writers on strike after talks collapse
By The Associated Press on July 13th, 2023
LOS ANGELES (AP) – The union representing film and television actors says no deal has been reached with studios and streaming services and its leadership will vote on whether to strike on Thursday. The Screen Actors Guild-American Federation of Television and Radio Artists said early Thursday that its decision on whether to join already striking ... Read More »
Be the first to comment!Average asking price for Canadian rental unit hits record high in June: Rentals.ca
By The Canadian Press on July 13th, 2023
TORONTO – A new report says the average asking price for a rental unit in Canada reached a record $2,042 last month amid continued interest rate hikes, population expansion and low unemployment. Rentals.ca’s latest data release shows year-over-year rent inflation for June was 7.5 per cent, below the double-digit growth seen for most of 2022 ... Read More »
Be the first to comment!Royal LePage says average home price down 0.7% year-over-year in second quarter
By The Canadian Press on July 13th, 2023
TORONTO – A report by Royal LePage says the average home price in Canada in the second quarter edged lower compared with a year ago. The firm’s house price survey says the aggregate price of a home in Canada was down 0.7 per cent year-over-year at $809,200 in the second quarter of this year. On ... Read More »
Be the first to comment!Barrick sold one million ounces of gold and 101 million pounds of copper in Q2
By The Canadian Press on July 13th, 2023
TORONTO – Barrick Gold Corp. says it is on track to achieve its full-year copper and gold guidance after it sold one million ounces of gold and 101 million pounds of copper in the second quarter, based on its preliminary results. The sales came as preliminary second-quarter production figures totalled 1.01 million ounces of gold ... Read More »
Be the first to comment!
