Business
House passes reauthorization of key US surveillance program after days of upheaval over changes
By Farnoush Amiri And Eric Tucker, The Associated Press on April 12th, 2024
WASHINGTON (AP) – The House passed a bill Friday to reauthorize and provide sweeping reforms of a key U.S. government surveillance tool without including broad restrictions on how the FBI uses this crucial program to search for Americans’ data. The bill, approved 273-147, now goes to the Senate where its future is uncertain. The program ... Read More »
Be the first to comment!Asking rent prices in March up 8.8% from year ago, but down from February: Urbanation
By The Canadian Press on April 12th, 2024
TORONTO – A new report says the asking rent for a home in Canada in March was up 8.8 per cent compared with a year ago, but down from February. The report by Urbanation, which analyzes monthly listings from the Rentals.ca, says the average asking rent for all home types was $2,181 last month. On ... Read More »
Be the first to comment!Oil and gas companies must pay more to drill on public lands under new Biden administration rule
By Matthew Daly, The Associated Press on April 12th, 2024
WASHINGTON (AP) – Oil and gas companies will have to pay more to drill on public lands and satisfy stronger requirements to clean up old or abandoned wells, according to a final rule issued Friday by the Biden administration. The Interior Department’s rule raises royalty rates for oil drilling by more than one-third, to 16.67%, ... Read More »
Be the first to comment!Home prices expected to climb 4.9% in 2024 as sales rise last month: CREA
By Sammy Hudes, The Canadian Press on April 12th, 2024
The Canadian Real Estate Association says it’s now expecting the national average home price to climb 4.9 per cent on an annual basis to $710,468, more than double the hike it had predicted at the start of 2024. In its updated outlook for the year released Friday, CREA said it now expects 492,083 homes to ... Read More »
Be the first to comment!Regulator limiting leverage in bank mortgage portfolios
By The Canadian Press on April 12th, 2024
OTTAWA – Canada’s banking regulator says it will be putting limits on how much leverage banks allow in their uninsured mortgage portfolios. The Office of the Superintendent of Financial Institutions says the loan-to-income limit on new uninsured mortgages will help reduce the risk of borrowers being unable to pay their loans. Because the limit will ... Read More »
Be the first to comment!S&P/TSX composite down, U.S. stock markets also lower
By The Canadian Press on April 12th, 2024
TORONTO – Canada’s main stock index was down in late-morning weighed down by losses in the technology and financial stocks, while U.S. stock markets also fell. The S&P/TSX composite index was down 25.51 points at 22,084.60. In New York, the Dow Jones industrial average was down 349.85 points at 38,109.23. The S&P 500 index was ... Read More »
Be the first to comment!Corus CEO hopeful TV advertisers will return as company posts $9.8M Q2 loss
By Sammy Hudes, The Canadian Press on April 12th, 2024
TORONTO – Despite a drop in advertising revenue, the chief executive of Corus Entertainment Inc. says he is confident the television and radio broadcaster can draw advertisers back as it focuses more on growing digital and streaming audiences. The company reported a loss attributable to shareholders of $9.8 million in its latest quarter compared with ... Read More »
Be the first to comment!Liberals say their plan to ‘solve the housing crisis’ will build 3.9M homes by 2031
By Nojoud Al Mallees, The Canadian Press on April 12th, 2024
OTTAWA – The federal Liberals have unveiled their plan to solve the housing crisis, building on recent announcements with new tax incentives, more than a billion dollars for homelessness and a country-wide effort to build more housing on public lands. “Today we are releasing the most comprehensive and ambitious housing plan ever seen in Canada,” ... Read More »
Be the first to comment!Stormy weather, ‘sluggish’ spending push MTY Food Group’s Q1 profits, revenue down
By Tara Deschamps, The Canadian Press on April 12th, 2024
Inclement weather and “sluggish” consumer spending delivered a double whammy to MTY Food Group Inc. in its first quarter, pushing the fast-food chain owner’s profits down from a year ago. The Montreal-based restaurant owner, whose collection of brands includes Thai Express, Manchu Wok, Mucho Burrito and Cold Stone Creamery, reported a profit of $17.3 million ... Read More »
Be the first to comment!Liberals release plan to ‘solve the housing crisis,’ branding it as a call to action
By Nojoud Al Mallees, The Canadian Press on April 12th, 2024
OTTAWA – The federal Liberals have unveiled their plan to solve the housing crisis, building on recent announcements with new tax incentives, more than a billion dollars for homelessness and a country-wide effort to build more housing on public lands. The 28-page document, which comes days ahead of the federal budget, is the minority government’s ... Read More »
Be the first to comment!US consumer sentiment falls slightly as outlook for inflation worsens
By Christopher Rugaber, The Associated Press on April 12th, 2024
WASHINGTON (AP) – Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this month, down from March’s figure of 79.4. Sentiment is about halfway between its ... Read More »
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