S&P/TSX composite edges up Wednesday after interest rate hold, U.S. markets mixed
By Rosa Saba, The Canadian Press on March 8th, 2023
TORONTO – Canada’s main stock index edged upward Wednesday after falling more than one per cent the day before, while U.S. markets were mixed. The S&P/TSX composite index was up 70.99 points at 20,346.53. In New York, the Dow Jones industrial average was down 58.06 points at 32,798.40. The S&P 500 index was up 5.64 ... Read More »
Be the first to comment!S&P/TSX composite edges upward Wednesday, U.S. markets mixed
By The Canadian Press on March 8th, 2023
TORONTO – Canada’s main stock index edged upward Wednesday after falling more than one per cent the day before, while U.S. markets were mixed. The S&P/TSX composite index was up 70.99 points at 20,346.53. In New York, the Dow Jones industrial average was down 58.06 points at 32,798.40. The S&P 500 index was up 5.64 ... Read More »
Be the first to comment!Tim Hortons customers subject to ‘technical error’ incorrectly saying they’d won $10K
By The Canadian Press on March 8th, 2023
TORONTO – Tim Hortons says some customers were incorrectly told they won $10,000 as part of the coffee chain’s popular Roll Up To Win contest due to a technical error. The coffee and doughnut chain says for a few hours on Monday, a “small subset” of players were incorrectly notified that they’d won the company’s ... Read More »
Be the first to comment!Stocks drift a day after their painful drop on rate fears
By Stan Choe, The Associated Press on March 8th, 2023
NEW YORK (AP) – Stocks drifted to a mixed close on Wall Street a day after sinking to one of their worst days of the year. The S&P 500 rose 0.1% Wednesday. The Dow fell slightly and the Nasdaq rose 0.4%. Stocks were coming off a sharp drop the prior day after the head of ... Read More »
Be the first to comment!Regulator orders TC Energy to reduce operating pressure on Keystone pipeline
By The Canadian Press on March 8th, 2023
CALGARY – A U.S. regulator has ordered TC Energy Corp. to lower the operating pressure on the entire Keystone pipeline system. The Pipeline and Hazardous Materials Safety Administration issued the ruling Tuesday as a result of its ongoing investigation into a Dec. 7 leak that saw around 13,000 barrels of oil spill into a creek ... Read More »
Be the first to comment!Loonie hits four-month low as Bank of Canada holds key interest rate
By The Canadian Press on March 8th, 2023
TORONTO – The value of the loonie is at a four-month low compared with the U.S. dollar, but experts say Canadian consumers shouldn’t expect their wallets to take a major hit. As of Wednesday afternoon, the Canadian dollar was trading at 72.46 U.S. cents, the weakest level since early November. CIBC chief economist Avery Shenfeld ... Read More »
Be the first to comment!BoC holds key rate for first time in a year, allowing itself to diverge from the Fed
By Nojoud Al Mallees, The Canadian Press on March 8th, 2023
OTTAWA – The Bank of Canada is holding its key interest rate steady for the first time in a year, sticking to its wait-and-see approach even as its U.S. counterpart charts a more aggressive path. The central bank said Wednesday that it has decided to hold its key rate at 4.5 per cent based on ... Read More »
1 responseCanaccord shareholder seeks to remove special committee directors who oppose buyout
By The Canadian Press on March 8th, 2023
TORONTO – A shareholder of Canaccord Genuity Group Inc. wants to remove the four directors on the company’s board that form a special committee that has opposed a buyout offer for the firm by a management-led group of employees. Skky Capital Corp. Ltd. is seeking a shareholder meeting to remove Gillian Denham, Charles Bralver, Dipesh ... Read More »
1 responseBiden budget aims to cut deficits nearly $3T over 10 years
By Josh Boak, The Associated Press on March 8th, 2023
WASHINGTON (AP) – President Joe Biden’s upcoming budget proposal aims to cut deficits by nearly $3 trillion over the next decade, according to an administration official. That deficit reduction goal is significantly higher than the $2 trillion that Biden had promised in his State of the Union address last month. It also is a sharp ... Read More »
1 responseHigher rates offer conservative investors chance to earn yield from fixed income
By Craig Wong, The Canadian Press on March 8th, 2023
OTTAWA – After years of sitting at rock bottom levels, higher interest rates are forcing Canadians with debt to pay more and crimping budgets – but for investors in need of income from their portfolio, higher rates are a welcome sight. When interest rates tumbled, investors living off their savings searched for a way to ... Read More »
1 responseCRTC lowers some wholesale internet rates by 10 per cent as part of broader review
By The Canadian Press on March 8th, 2023
OTTAWA – Canada’s national telecommunications regulator is lowering some wholesale internet rates by 10 per cent as it launches a review aimed at bolstering competition and lowering consumer costs. The Canadian Radio-television and Telecommunications Commission says it recognizes its current approach does not encouraging enough competition in the sector. Its review will look into the ... Read More »
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