Canada’s foreign affairs minister and the consul general in New York did not influence or direct the purchase of a luxury $9 million residence in the city, a Commons committee was told Wednesday. MPs also heard that the property, which will serve as the official residence for the consul general of Canada in New York, is 50 … Read more
Wall Street fell the most in nearly two years, continuing a global rout in financial markets as fears worsen that the U.S. economy is slowing down. The S&P 500 fell three per cent on Monday. The Dow Jones industrial average dropped more than 1,000 points and the Nasdaq composite slid 3.4 per cent. The declines were just the latest … Read more
Enbridge Inc. has raised its earnings forecast for the year in light of the successful completion of two previously announced purchases of U.S. gas utilities. The Calgary-based energy infrastructure company said Friday it now expects adjusted earnings for 2024 of between $17.7 billion and $18.3 billion, up from a previous forecast of $16.6 billion to … Read more
The announcement of a hike in securities transaction tax and short term capital gains tax in the Budget for 2024-25, impacted markets’ sentiment negatively during the initial trade on July 25, 2024. Equity market benchmark indices Sensex and Nifty tumbled in early trade on July 25, continuing to decline for the fifth day running, dragged … Read more
U.S. consumer prices unexpectedly fell and the annual increase was the smallest in a year, reinforcing views that a trend of dropping inflation was back on track in the United States, and drawing the Federal Reserve another step closer to cutting interest rates. The consumer price index dipped 0.1 per cent last month after being unchanged in May, the U.S. Labour Department’s … Read more
Image used for representative purpose only | Photo Credit: Reuters Benchmark stock indices Sensex and Nifty rallied more than 3% to close at lifetime highs on June 3 following across-the-board buying as exit polls predicted a massive win for the BJP-led NDA in the general elections. The 30-share BSE Sensex soared by 2,507.47 points or … Read more
Major cryptocurrencies surged in Monday’s trading session after data last week showed U.S. inflation had stabilised in April, keeping the door open for the Federal Reserve to cut interest rates later in the year. At 1:18 pm, BTC was trading 1.7% higher at $68,870, while Ethereum rose marginally 0.5% to $3,813. Meanwhile, the global cryptocurrency … Read more
The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning toward eventual reductions in borrowing costs, but that cuts could be delayed as recent inflation numbers have strayed further from its two per cent target. Indeed, Fed Chair Jerome Powell said it was likely to take longer than previously expected for Fed officials … Read more
Luxury parka maker Canada Goose says it is laying off 17 per cent of its global corporate workforce. CEO Dani Reiss wrote in a LinkedIn note Tuesday that the job cuts are meant to put the company in a better position for scaling and will help the Toronto-based business focus on efficiency and key brand, design … Read more
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that could delay an anticipated June interest rate cut from the Federal Reserve. The consumer price index (CPI) rose 0.4 per cent last month after climbing 0.3 per cent in January, the Labour Department’s Bureau of Labour Statistics … Read more
