Bitcoin continues its surge

NEW YORK — Bitcoin is once again having a moment. On Monday, the world’s largest cryptocurrency soared past $41,000 for the first time in over a year and a half, and marking a 150% rise so far this year. Volatile bitcoin rocketed from just over $5,000 at the start of the pandemic to nearly $68,000 […]

The good times keep rolling

TORONTO — Canada’s main stock index gained more than 200 points Friday on broad-based strength led by base metals, industrials and telecom stocks, while U.S. markets also rose. The first day of December began on a positive note after a “remarkable” month of November for the market, said Brian Madden, chief investment officer with First […]

Walmart upgrades ahead

Walmart Canada says it will invest nearly $1 billion this fiscal year on a slew of projects meant to modernize the retail giant’s Canadian footprint. The spending will include more than $300 million for store remodels and renovations. Some of the chain’s stores will be altered to include larger produce areas with an expanded assortment […]

November ends with a bang

TORONTO — Canada’s main stock index gained more than 100 points Thursday, led by strength in financial, industrial and telecom stocks, while U.S. markets were mixed, led by a gain of almost 1.5% on the Dow Jones. It was the final day of what’s been a very positive month for markets, especially in contrast to […]

Banks ready for sluggish economy

TORONTO — Several Canadian banks on Thursday reported fourth-quarter results that showed rising funds set aside for bad loans and a heavy focus on expense management as they prepared for the expected slower economy ahead. TD Bank boosted provisions for potential loan losses to $878 million, RBC is up to $720 million, and CIBC amounted […]

Huge investment in Alberta

FORT SASKATCHEWAN, Alta. — Dow Chemical has announced plans to invest nearly $9 billion in a net-zero petrochemical project northeast of Edmonton. Dow’s Path2Zero facility is being billed as the world’s first net-zero Scope 1 and 2 greenhouse gas emissions-integrated ethylene cracker and derivatives site. “This is a first-of-its-kind-in-the-world net zero petrochemicals facility, and it […]

Google agrees to pay media

Ottawa has agreed to set a $100-million yearly cap on payments that Google will be required to make to media companies when the government’s controversial online news legislation takes effect at the end of the year. The announcement Wednesday has the Liberals bending to the tech giant’s demands after Google threatened back in February to […]

Rogers wants giants to pay

Online streaming giants should be forced to contribute 2% of their annual Canadian revenue to support Canadian and Indigenous content and help level the playing field for local broadcasters, executives from Rogers Communications Inc. told a CRTC hearing Tuesday. The Toronto-based media and telecommunications company said Rogers and its Canadian competitors are being held back […]

Markets start week sluggishly

TORONTO — Canada’s main stock index closed down moderately Monday along with U.S. markets as investors stuck to a cautious outlook on the economy. Worries about growth and waning demand put pressure on commodities and stocks linked to consumer discretionary buying, said Ryan Crowther, portfolio manager at Franklin Templeton Canada. “The investor is in general […]

Execs hit Black Friday floor

TORONTO — As shoppers crammed into stores across the country on Black Friday, Carrie Baker was busy greeting customers and ringing up purchases at Canada Goose Holdings Inc.’s store on Saint-Catherine Street West in Montreal. The president of the luxury apparel business was one of 15 members of Canada Goose’s executive ranks who ditched her […]