Business Buzz


Rough week for S&P/TSX
The Canadian Press - Dec 03, 2021 - Business Buzz

TORONTO — The rebound in Canada’s main stock index was short-lived as it pushed lower Friday to end a third-consecutive losing week amid concerns about impending action by the U.S. Federal Reserve. The S&P/TSX composite index closed down 128.76 points to 20,633.27 despite hitting an intraday high of 20,825.21. The Toronto market had a strong […]

EV tax solution still possible
The Canadian Press - Dec 03, 2021 - Business Buzz

WASHINGTON — Canada still has “runway” to work with in its effort to prevent a proposed U.S. tax credit for electric vehicles from kneecapping the auto industry north of the border, International Trade Minister Mary Ng said Friday. Ng was wrapping up several days of meetings on Capitol Hill with U.S. lawmakers who will eventually […]

BMO best of Big Six banks
The Canadian Press - Dec 03, 2021 - Business Buzz

TORONTO — BMO Financial Group wrapped the week of Big Six financial results by announcing the biggest dividend raise and share buyback plan of all the banks as it reported earnings that were boosted in part by efficiency gains. The bank said Friday that it had raised its quarterly dividend 25% to $1.33 per share […]

Markets come roaring back
The Canadian Press - Dec 02, 2021 - Business Buzz

TORONTO — Canada’s main stock index climbed nearly 1.5% on its best day in 10 months amid a broad-based rally with strength in financials despite uncertainty about the latest COVID-19 variant. The S&P/TSX composite index closed up 297.43 points to 20,762.03 for its strongest performance since Feb. 1. In New York, the Dow Jones industrial […]

TD hits quarterly home run
The Canadian Press - Dec 02, 2021 - Business Buzz

TORONTO — TD Bank Group shares were trading up almost 5% Thursday afternoon after the bank reported fourth-quarter earnings that surprised to the upside and it raised its dividend by 13%. The bank was trading up $4.44, or 4.8%, at $96.38 on the Toronto Stock Exchange at mid-afternoon, boosted by a combination of its results […]

Oil companies staying frugal
The Canadian Press - Dec 02, 2021 - Business Buzz

CALGARY — Oil production in Alberta is at all-time record levels, but companies remain reluctant to increase capital spending budgets. Statistics Canada says oil and gas capital spending over the first three quarters of 2021 was 32% below pre-pandemic levels. The industry also spent less than a third of what it did during the same […]

COVID still spooking markets
The Canadian Press - Dec 01, 2021 - Business Buzz

TORONTO — North American stock markets fell back after a strong morning to start December on persistent worries about the latest COVID-19 variant and the likelihood for the Fed to speed up its stimulus tapering. The S&P/TSX composite index gained as much as 352 points, or 1.7%, in early trading Wednesday but closed down 195.39 […]

RBC raises dividend 11%
The Canadian Press - Dec 01, 2021 - Business Buzz

TORONTO — Royal Bank of Canada raised its dividend Wednesday as it reported a rise in fourth-quarter profits from last year, though it said earnings were hit by lower margins in part from low interest rates and heightened competition. The bank said it will now pay a quarterly dividend of $1.20 per share, up 11% […]

Industry will pay for well cleanup
The Canadian Press - Dec 01, 2021 - Business Buzz

CALGARY — Alberta’s oil and gas regulator has rolled out new rules aimed at addressing the growing problem of inactive and abandoned wells in the province. The new rules will require the energy industry to spend $422 million next year and slightly more in 2023 on cleanup and remediation. Oil and gas producers seeking licences […]

Another ugly day on Bay Street
The Canadian Press - Nov 30, 2021 - Business Buzz

Canada’s main stock index tumbled down more than 480 points Tuesday amid fresh worries about the latest COVID-19 variant. Investor anxiety over the fast-spreading Omicron variant also drove losses on Wall Street, one day after North American stock markets had partially recovered from Friday’s steep plunge. The S&P/TSX composite index was down 489.01 points at […]