January 24th, 2017

Business

US stock indexes slide in afternoon trading; oil rises

By Alex Veiga, The Associated Press on January 12th, 2017

U.S. stocks moved broadly lower in afternoon trading Thursday, giving back the market’s gains from the day before. Financial, industrial and technology stocks were down the most, while phone company and real estate stocks edged higher. Investors were turning their focus to the next wave of corporate earnings reports in the weeks ahead. KEEPING SCORE: ... Read More »

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TVO’s $2M donation a rare gift for Canada’s struggling news industry

By Aleksandra Sagan, The Canadian Press on January 12th, 2017

TORONTO – A $2 million donation to TVO is being hailed as a boost for the financially struggling media industry, but experts say it’s unlikely to spur similar investments because the country’s laws discourage philanthropic funding of news. The endowment, from the Barry and Laurie Green Charitable Trust and Goldie Feldman, is intended to cover ... Read More »

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Amazon apologizes to India for selling doormats with national flag

By Linda Nguyen, The Associated Press on January 12th, 2017

TORONTO – Amazon has apologized to India’s foreign minister for selling doormats depicting the Indian flag on the online shopping giant’s Canadian website. The head of the retailer in India sent the apology to External Affairs Minister Sushma Swaraj on Wednesday, according to a tweet by a ministry spokesperson. The statement, which was posted on ... Read More »

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Congress presses ahead on dismantling health care law

By Andrew Taylor, The Associated Press on January 12th, 2017

WASHINGTON – Congress is poised to complete its initial step toward dismantling President Barack Obama’s health care law, as Republicans divided over how to replace it face pressure from Donald Trump for quick action. “We have a responsibility to step in and provide relief from this failing law,” Speaker Paul Ryan, R-Wis., told reporters Thursday. ... Read More »

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U.S. dairy groups urge Trump to set his sights on Canadian dairy policies

By The Canadian Press on January 12th, 2017

MONTREAL – U.S. dairy groups are calling on Donald Trump to set his sights on Canada’s “protectionist” dairy practices as he seeks to safeguard American jobs. The International Dairy Foods Association, National Milk Producers Federation and U.S. Dairy Export Council, along with the National Association of State Departments of Agriculture, say a planned national Canadian ... Read More »

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US stock indexes slide in midday trading; oil rises

By Alex Veiga, The Associated Press on January 12th, 2017

U.S. stocks moved broadly lower in midday trading Thursday, giving back the market’s gains from the day before. Financial, industrial and technology stocks were down the most, while phone company stocks edged higher. Investors were turning their focus to the next wave of corporate earnings reports in the weeks ahead. KEEPING SCORE: The Dow Jones ... Read More »

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Average US 30-year mortgage rate falls to 4.12 per cent

By The Associated Press on January 12th, 2017

WASHINGTON – Long-term US mortgage rates fell this week, the second week of declines after snapping a nine-week run of increases. Mortgage buyer Freddie Mac said Thursday the rate on 30-year fixed-rate loans eased to an average 4.12 per cent from 4.20 per cent last week. That was still sharply higher than a 30-year rate ... Read More »

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Postmedia posts first-quarter profit, boosted by debt restructuring deal

By The Canadian Press on January 12th, 2017

TORONTO – Postmedia Networks Corp. reported a profit in its latest quarter, boosted by a debt restructuring negotiated by the struggling media company and its major creditors, however revenue fell nearly 15 per cent. The Toronto-based owner of the National Post and other major Canadian newspapers says it earned $17.8 million or 31 cents per ... Read More »

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North American stock markets tumble while loonie, crude and gold rise

By The Canadian Press on January 12th, 2017

TORONTO – North American stock indexes have taken a big step away from the near-record highs they’ve experienced recently. The Toronto Stock Exchange’s S&P/TSX composite index was down 104.19 points at 15,387.35 after nearly two hours of trading. In New York, the Dow Jones industrial average tumbled 165.10 points to 19,789.18 and the S&P 500 ... Read More »

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Real estate sector expected to move away from ‘feast and famine’ this year

By Alexandra Posadzki, The Canadian Press on January 12th, 2017

TORONTO – The extreme regional disparities that characterized Canada’s real estate markets last year will narrow in 2017 as overheated areas cool and slower markets gather steam, Royal LePage says in a report released Thursday. That trend will be driven by lower prices in Greater Vancouver and strong but moderating price growth in the Greater ... Read More »

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Budgeting for a home reno? Hope for the best but plan for the worst

By David Hodges, The Canadian Press on January 12th, 2017

TORONTO – Ali Bisram has less-than-fond memories of her basement bathroom renovation project. “It was supposed to be around $2,500 to $3,000. We just wanted to replace the toilet and the vanity and put in a smaller shower, a little corner unit,” says Bisram, a 35-year-old government administrative co-ordinator in Brampton, Ont. “But when you ... Read More »

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