Business Buzz


Strong economy sinks markets
The Canadian Press - 3:32 pm - Business Buzz

TORONTO — Canada’s main stock index closed down more than 250 points Tuesday in broad losses led by energy and technology over interest rate concerns and a drop in crude prices, while U.S. stock markets were also in the red. Markets in both countries were down by more than 1% for a second day as […]

Good news equals bad news
The Canadian Press - Dec 05, 2022 - Business Buzz

TORONTO — Falling energy prices and renewed fears around the rate hike path ahead helped push Canada’s main stock index down almost 1.2% Monday, while U.S. markets fell further. Markets on both sides of the border were under pressure as data out of the U.S., including on service sector activity that came in higher than […]

Grocery bill expected to climb
The Canadian Press - Dec 05, 2022 - Business Buzz

Canadians won’t escape food inflation any time soon. Food prices in Canada will continue to escalate in the new year, with grocery costs forecast to rise up to 7% in 2023, new research predicts. For a family of four, the total annual grocery bill is expected to be $16,288—$1,065 more than it was this year, […]

Job reports drag on markets
The Canadian Press - Dec 02, 2022 - Business Buzz

TORONTO — Canada’s main stock index closed down Friday while U.S. markets were mixed after a bumpy day of trading following job reports that came in stronger than expected. Markets in both countries dropped early as the reports showed continued high demand for labour, with the unemployment rate in Canada dipping slightly to 5.1% and […]

FBI worried about TikTok
The Canadian Press - Dec 02, 2022 - Business Buzz

WASHINGTON — FBI director Chris Wray is raising national security concerns about TikTok, warning Friday that control of the popular video sharing app is in the hands of a Chinese government “that doesn’t share our values.” Wray said the FBI was concerned that the Chinese had the ability to control the app’s recommendation algorithm, “which […]

Another positive Bay Street day
The Canadian Press - Dec 01, 2022 - Business Buzz

TORONTO — Canada’s main stock index closed up around 70 points Thursday, with mixed results across sectors, while U.S. markets largely held on to the outsized gains they made the day before. “Based on what we saw yesterday, and the potential for volatility that we’ve been seeing every day around the inflation story, changes from […]

Rates boost TD bottom line
The Canadian Press - Dec 01, 2022 - Business Buzz

TORONTO — TD Bank Group had earnings climb in the fourth quarter, despite setting aside more money for potentially bad loans, as it benefited in part from higher interest margins on its loans. The bank, with a substantial deposit base that gives it access to cheaper funding, has benefited more than some other banks from […]

Positive talk boosts markets
The Canadian Press - Nov 30, 2022 - Business Buzz

TORONTO — Canada’s main stock index gained almost 1% Wednesday after dipping in the morning, with gains in metals, industrials and other sectors offsetting a slip in energy stocks, while U.S. markets posted stronger gains. Comments by the head of the Federal Reserve sparked optimism in U.S. markets, said Greg Taylor, chief investment officer at […]

Commuting numbers still down
The Canadian Press - Nov 30, 2022 - Business Buzz

OTTAWA — New census data shows commuting levels dropped significantly in 2021 compared to 2016, and while some of that decline has rebounded, transit ridership hasn’t fully recovered. According to Statistics Canada, there were 2.8 million fewer commuters in 2021 than in 2016 as the pandemic drove a shift toward remote work. The federal agency […]

Biggest Canadian bank deal
The Canadian Press - Nov 29, 2022 - Business Buzz

TORONTO — Royal Bank of Canada has agreed to pay $13.5-billion in cash for HSBC Bank Canada in what is the largest domestic banking deal on record. The acquisition, at a scale not seen in Canada in decades, would secure RBC’s spot as the country’s largest bank as it looks to establish itself as the […]