February 22nd, 2020

Business

US home sales fell 1.3% in January

By Josh Boak, The Associated Press on February 21st, 2020

WASHINGTON – U.S. home sales retreated 1.3% in January from the prior month, but low mortgage rates helped enable an increase in purchases from a year ago. The National Association of Realtors said Friday that sales of existing homes slipped last month to a seasonally adjusted annual rate of 5.46 million. Sales have climbed 9.6% ... Read More »

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Lululemon stores in China mostly closed due to novel coronavirus outbreak

By The Canadian Press on February 21st, 2020

VANCOUVER – Lululemon Athletica Inc. says most of its stores in China have been closed since early February due to the novel coronavirus outbreak. The Vancouver-based company says that most of its 38 stores in the country have been closed since Feb. 3 following guidance from local authorities. It says some are now operating on ... Read More »

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Energy and industrial sectors weigh on stocks in Toronto, loonie moves up

By The Canadian Press on February 21st, 2020

TORONTO – The energy and industrial sectors weighed on the Toronto Stock Exchange as Canada’s main stock index fell in late-morning trading, while U.S. stock markets also pulled back. The S&P/TSX composite index was down 79.74 points at 17,864.32. In New York, the Dow Jones industrial average was down 235.29 points at 28,984.69. The S&P ... Read More »

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Blockade trips up Canada’s biggest ports as shippers steer clear of rail closure

By The Canadian Press on February 21st, 2020

MONTREAL – A rail blockade in eastern Ontario is jamming up Canada’s three biggest ports, prompting some shippers to take their business elsewhere as cargo piles up and paycheques for those working on the docks shrink. Now in its 16th day, the protest along Canadian National Railway tracks east of Belleville, Ont., has halted CN’s ... Read More »

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Armani rails against baring trends by fellow designers

By Colleen Barry, The Associated Press on February 21st, 2020

How much to show and how much not to show, that is the fashion question this season. It may be reductive to say that runway shows are about how women dress. But the conversation has sharpened in the #MeToo era. Is a sheer dress that reveals the undergarments beneath, however prettily prepared, empowering or exploitative? ... Read More »

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Retail sales flat in December, sector’s 2019 growth was lowest in a decade: Statcan

By The Canadian Press on February 21st, 2020

OTTAWA – Canadian retail sales were virtually unchanged in December compared with the prior month, ending a year with the smallest increase in retail sales since 2009 when the country was hit by the financial crisis, Statistics Canada said Friday. The flat reading for the final month of the year followed growth of 1.1 per ... Read More »

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Magna says some plants in China still offline, parts supplies a concern

By The Canadian Press on February 21st, 2020

AURORA, Ont. – Magna International Inc. says its operations in China are still running under capacity because of the novel coronavirus outbreak, but that it’s too early to say what the long-term impacts might be. The Aurora, Ont.-based auto parts maker says that many of its 55 manufacturing plants and 13 development and sales offices ... Read More »

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Teck Resources warns of $1.13B charge if Frontier oilsands mine rejected

By The Canadian Press on February 21st, 2020

VANCOUVER – Teck Resources Ltd. is warning that it will take an impairment charge of about $1.13 billion if the federal government decides not to approve its Frontier oilsands mining project. A decision on the $20.6-billion, 260,000-barrel-per-day project, which is expected to produce about four million tonnes of greenhouse gas emissions per year over 40 ... Read More »

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RBC monitors coronavirus and rail blockades as it reports Q1 profit

By Tara Deschamps, The Canadian Press on February 21st, 2020

TORONTO – Royal Bank of Canada is monitoring the recent, novel coronavirus outbreak and rail blockades across the country, but says it’s too early to see the full impact of either yet. Graeme Hepworth, the Toronto-based bank’s chief risk officer, said Friday he is watching the new form of the coronavirus, which has spread to ... Read More »

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US home sales sales fell 1.3% in January

By Josh Boak, The Associated Press on February 21st, 2020

WASHINGTON – U.S. home sales retreated 1.3% in January from the prior month, but low mortgage rates helped enable an increase in purchases from a year ago. The National Association of Realtors said Friday that sales of existing homes slipped last month to a seasonally adjusted annual rate of 5.46 million. Sales have climbed 9.6% ... Read More »

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Trudeau promises update on blockades as Wet’suwet’en chiefs meet Mohawk supporters

By The Canadian Press on February 21st, 2020

OTTAWA – Prime Minister Justin Trudeau is in a meeting of his emergency-response team in Ottawa this morning. He promises a full account of his government’s work to clear transportation blockades in an afternoon news conference. Meanwhile, a group of hereditary leaders from the Wet’suwet’en Nation in British Columbia is to spend the day with ... Read More »

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