August 19th, 2019

Business

TSX rebounds from worst day of year but still closes lower on economic worries

By The Canadian Press on August 15th, 2019

TORONTO – Canada’s main stock index rebounded from its worst day of the year but still closed lower amid continuing concerns about a global economic slowdown. The S&P/TSX composite index closed down 33.41 points at 16,012.53. In New York, the Dow Jones industrial average was up 99.97 points at 25,579.39. The S&P 500 index was ... Read More »

Be the first to comment!

Russian pilot safely lands jetliner disabled by bird strike

By Vladimir Isachenkov And Tom Krisher, The Associated Press on August 15th, 2019

MOSCOW – A Russian pilot whose passenger jet lost power in both engines after colliding with a flock of gulls shortly after takeoff Thursday managed to land in a cornfield smoothly enough that only one person was hurt seriously enough to be hospitalized. The quick thinking of the captain, 41-year old Damir Yusupov, drew comparisons ... Read More »

Be the first to comment!

US stocks veer higher in latest bout of market volatility

By Stan Choe And Alex Veiga, The Associated Press on August 15th, 2019

Stocks around the world remained stuck in the spin cycle Thursday, as worries about a possible recession collided with hopes that the strongest part of the U.S. economy – shoppers spending at stores and online – can keep going. The major U.S. stock indexes spent most of the day wavering between gains and losses. They ... Read More »

Be the first to comment!

Intact inks $1B deal for two insurers as a portal to rich clients

By The Canadian Press on August 15th, 2019

TORONTO – Intact Financial Corp. has signed a deal to buy two specialty insurers in a move that gives it a foothold in the market for wealthy clients, part of a broader push among financial services firms toward high-net-worth customers. The $1-billion agreement with Princeton Holdings Ltd. will see The Guarantee Co. of North America ... Read More »

Be the first to comment!

Canopy Growth shares tumble on CEO exit plans, loss of market share

By Aleksandra Sagan, The Canadian Press on August 15th, 2019

Canopy Growth Corp. shares fell to their lowest level this year on Thursday after quarterly results that suggested the cannabis producer lost market share and an announcement that its CEO plans to leave the company, just weeks after his co-CEO was pushed out. The company’s shares were down $5.55 or 13.01 per cent at $37.03 ... Read More »

Be the first to comment!

US stocks veer lower in latest bout of market volatility

By Stan Choe And Alex Veiga, The Associated Press on August 15th, 2019

Stocks around the world remained stuck in the spin cycle Thursday, as worries about a possible recession collided with hopes that the strongest part of the U.S. economy – shoppers spending at stores and online – can keep going. The major U.S. stock indexes veered lower in afternoon trading, shedding midmorning gains, as the market ... Read More »

Be the first to comment!

Economic outlook credits major projects in B.C. for continued growth: Central 1

By Beth Leighton, The Canadian Press on August 15th, 2019

VANCOUVER – A financial services organization in British Columbia is forecasting modest but slower growth for the province through 2022. Central 1 says economic growth in B.C. should remain just above two per cent over the next 28 months. Its report released Thursday says the growing economy is supported by a strong labour market, healthy ... Read More »

Be the first to comment!

Economic outlook credits major projects in B.C. for continued growth: Credit 1

By Beth Leighton, The Canadian Press on August 15th, 2019

VANCOUVER – A financial services organization in British Columbia is forecasting modest but slower growth for the province through 2022. Central 1 says economic growth in B.C. should remain just above two per cent over the next 28 months. Its report says the growing economy is supported by a strong labour market, healthy construction industry ... Read More »

Be the first to comment!

Pilot hailed as hero after bird strike disables Russian jet

By Vladimir Isachenkov, The Associated Press on August 15th, 2019

MOSCOW – A Russian pilot was hailed as a hero Thursday for safely landing his passenger jet in a cornfield after a collision with a flock of gulls seconds after takeoff crippled both engines. While dozens of people on the plane sought medical assistance, only one was hospitalized. The quick thinking of the captain, 41-year ... Read More »

Be the first to comment!

Halifax-based Irving shipyard gets $500 million frigate maintenance contract

By The Canadian Press on August 15th, 2019

Halifax-based Irving Shipbuilding Inc. has been awarded a $500-million federal contract to carry out maintenance work for the Royal Canadian Navy. The initial five-year contract guarantees a minimum of three Halifax-class frigates for the shipyard, with work planned to begin in the early 2020s. The contract is expected to rise in value as additional work ... Read More »

Be the first to comment!

Intact inks deal for The Guarantee Co. of North America and Frank Cowan Co. Ltd

By The Canadian Press on August 15th, 2019

TORONTO – Intact Financial Corp. has signed a deal to buy The Guarantee Co. of North America and Frank Cowan Co. Ltd. from Princeton Holdings Ltd. for $1 billion in cash. The Guarantee is a specialty lines insurer in Canada and the U.S., while Frank Cowan is a managing general agent focused on specialty insurance. ... Read More »

Be the first to comment!