December 5th, 2021

Business

High-flying oil and gas prices paint rosier shade of red ink on Alberta budget

By Dean Bennett, The Canadian Press on November 30th, 2021

EDMONTON – Alberta’s budget outlook for this year is turning a rosier shade of red ink with jobs up, the deficit down and oil and gas prices humming along at unexpectedly high levels. Finance Minister Travis Toews says the deficit is expected to be $5.8 billion when the government closes the books on the 2021 ... Read More »

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CRTC says new technology will help fight spoofed telephone calls

By The Canadian Press on November 30th, 2021

OTTAWA – The federal telecommunications regulator says new technology will help reduce the frequency and impact of caller ID spoofing. Spoofing happens when a caller hides their identity by displaying fake or altered phone numbers on a call display when making a call. It can be used by fraudsters looking to fool unsuspecting victims into ... Read More »

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Economy, consumer spending bounces back in Q3 as new variant stirs concerns

By Jordan Press, The Canadian Press on November 30th, 2021

OTTAWA – The economy bounced back sharply in the third quarter of the year after taking a walloping in the preceding three-month stretch, in a demonstration of what may be in store as COVID-19 concerns wane and Canadians start spending anew. Statistics Canada said Tuesday the economy grew at an annual rate of 5.4 per ... Read More »

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Money hang-ups from childhood can linger long into adulthood

By Leah Golob, The Canadian Press on November 30th, 2021

TORONTO – Steph Davidson grew up with two sets of parents who approached their finances from opposite ends of the spectrum. One set of parents was very frugal, only spending money on the most basic of necessities. While they did spend money on vacations, there were no brand names or extras at the house. The ... Read More »

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Scotiabank reports Q4 profit up, raises dividend and accelerates digital shift

By Ian Bickis, The Canadian Press on November 30th, 2021

TORONTO – Scotiabank became the first big bank to raise its dividend since restrictions on doing so were lifted as it kicked off a week of bank earnings Tuesday. The bank said it would boost its quarterly dividend by 10 cents to $1 per share and plans to buy back up to 24 million of ... Read More »

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N.L.’s Come by Chance oil refinery sold to Texas company to produce renewable fuels

By The Canadian Press on November 30th, 2021

ST. JOHN’S, N.L. – An idled oil refinery in the town of Come By Chance, N.L., has new owners and a planned new life producing renewable diesel and sustainable aviation fuel beginning in mid-2022. The Newfoundland and Labrador government announced today that final agreement had been reached in the sale of the Come By Chance ... Read More »

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High-flying oil and gas prices paint a rosier shade of red ink on Alberta budget

By The Canadian Press on November 30th, 2021

EDMONTON – Alberta’s budget outlook for this year is turning a rosier shade of red ink, with jobs up, the deficit down and oil and gas prices humming along at unexpectedly high levels. Finance Minister Travis Toews says the deficit is now expected to be $5.8 billion when the government closes the books on the ... Read More »

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Two trucking companies serving Vancouver port threaten to strike Friday

By The Canadian Press on November 30th, 2021

VANCOUVER – Container truck drivers at two companies serving the Port of Vancouver could go on strike later this week. Unifor says it gave Aheer Transportation and Prudential Transportation notice on Monday that almost 200 drivers will walk off the job this Friday if they aren’t offered better employment terms. The union says the workers ... Read More »

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Powell says Fed may accelerate pullback in economic support

By Christopher Rugaber, The Associated Press on November 30th, 2021

WASHINGTON (AP) – Chair Jerome Powell said Tuesday that the Federal Reserve will consider acting more quickly to dial back its ultra-low-interest rate policies to counter higher inflation, which Powell acknowledged will likely persist well into next year. The Fed is currently reducing its monthly bond purchases, which are intended to lower longer-term borrowing costs, ... Read More »

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Lululemon sues Peloton over ‘copy-cat’ workout apparel

By The Canadian Press on November 30th, 2021

VANCOUVER – Lululemon Athletica Canada Inc. is suing exercise equipment company Peloton Interactive Inc. over allegations of patent infringement. The Vancouver-based athletic apparel retailer claims in court documents that Peloton is selling “knock-off” Lululemon bras and leggings, infringing on multiple design patents. The lawsuit filed on Monday in a U.S. court comes after Peloton ended ... Read More »

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S&P/TSX composite down more than 200 points amid renewed COVID-19 variant fears

By The Canadian Press on November 30th, 2021

TORONTO – Canada’s main stock index tumbled down more than 200 points in late-morning trading amid fresh worries about the latest COVID-19 variant, while U.S. stock markets also fell. The S&P/TSX composite index was down 279.80 points at 20,869.20. In New York, the Dow Jones industrial average was down 525.99 points at 34,609.95. The S&P ... Read More »

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