Business Buzz


Inflation cools, hike still likely
The Canadian Press - Jan 17, 2023 - Business Buzz

OTTAWA — Canada’s annual inflation rate slowed last month, but economists are still expecting the Bank of Canada to hike its key interest rate next week. In its latest consumer price index released Tuesday, Statistics Canada said the country’s annual inflation rate slowed to 6.3% in December. The deceleration came as the cost of groceries […]

Businesses brace for pullback
The Canadian Press - Jan 16, 2023 - Business Buzz

OTTAWA — With high inflation and rising interest rates taking a bite out of paycheques, the Bank of Canada says businesses expect sales to slow as consumers pull back on spending. The central bank released its fourth-quarter business outlook and consumer expectations surveys Monday, revealing most businesses and consumers expect a recession in the next […]

Banner week for S&P/TSX
The Canadian Press - Jan 13, 2023 - Business Buzz

TORONTO — Canada’s main stock index rose almost 150 points Friday on broad-based gains, ending the week up 2.8%. The S&P/TSX composite index was up 148.90 points at 20,360.10. U.S. markets also rose. In New York, the Dow Jones industrial average was up 112.64 points at 34,302.61. The S&P 500 index was up 15.92 points […]

Tesla lowers vehicle prices
The Canadian Press - Jan 13, 2023 - Business Buzz

DETROIT — With its sales slowing and its stock price tumbling, Tesla Inc. slashed prices dramatically Friday on several versions of its electric vehicles, making some of its models eligible for a new federal tax credit that could help spur buyer interest. The company dropped prices nearly 20% in the United States on some versions […]

US inflation news lifts markets
The Canadian Press - Jan 12, 2023 - Business Buzz

TORONTO — Canada’s main stock index gained almost 1% Thursday, buoyed by strength in the energy and financial sectors, while U.S. markets also rose. The S&P/TSX composite index was up 186.15 points at 20,211.20. In New York, the Dow Jones industrial average was up 216.96 points at 34,189.97. The S&P 500 index was up 13.56 […]

Bank of Canada may lose billions
The Canadian Press - Jan 12, 2023 - Business Buzz

The Bank of Canada may lose up to $8.8 billion over the next few years, according to a new report warning the central bank may run into a communications challenge as a result of the losses. The report from the C.D. Howe Institute estimates the total losses over the next two to three years will […]

S&P/TSX back above 20K
The Canadian Press - Jan 11, 2023 - Business Buzz

TORONTO — Canada’s main stock index closed higher on broad gains as commodities rose, while U.S. stock markets also ended up a day before the release of key inflation data. The S&P/TSX composite index ended up 126.19 points at 20,025.05. In New York, the Dow Jones industrial average was up 268.91 points at 33,973.01. The […]

Outage causes more travel woes
The Canadian Press - Jan 11, 2023 - Business Buzz

TORONTO — Air Canada and WestJet encouraged travellers headed to or from the U.S. to check their flights before going to the airport after a key computer outage at the U.S. Federal Aviation Administration caused delays. WestJet said six flights were delayed Wednesday morning because of the computer outage and none were cancelled, while Air […]

Cool finish foils hot start
The Canadian Press - Jan 09, 2023 - Business Buzz

TORONTO — Canada’s main stock index stalled in the afternoon after a morning of strong gains in energy, technology and base metals, while U.S. markets also cooled, ending the day with mixed results. The S&P/TSX composite index was up 42.56 points at 19,857.07. In New York, the Dow Jones industrial average was down 112.96 points […]

Latest food tech products unveiled
The Canadian Press - Jan 09, 2023 - Business Buzz

From an AI oven that promises to warn you when your food is about to burn to a mixing bowl designed to take the hassle out of tracking calories, food tech was a key theme at this year’s CES tech show in Las Vegas. Brad Jashinsky, a director analyst at research firm Gartner, said big […]