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Number of Americans filing for jobless claims is elevated for second straight week

Number of Americans filing for jobless claims is elevated for second straight week

The number of Americans applying for unemployment benefits remained elevated last week, a possible sign that the Federal Reserve's interest rate hikes over the past year may taking hold in what's proved to be a resilient job market. U.S.
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CMHC reports annual rate of housing starts in Canada fell in May

CMHC reports annual rate of housing starts in Canada fell in May

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in May dropped 23 per cent compared with April as starts of apartments, condos and other types of multi-unit housing projects in Vancouver, Toronto and Montreal fell.
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Inflation, interest rates weighing on Canadians' retirement plans: survey

Inflation, interest rates weighing on Canadians' retirement plans: survey

TORONTO — Canadians are struggling to save for retirement, with many planning to push back the next phase of their life amid inflation and higher interest rates, according to a new survey from the Healthcare of Ontario Pension Plan.
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Faster approvals for major projects will be key to achieving climate goals: Report

Faster approvals for major projects will be key to achieving climate goals: Report

CALGARY — Canada has no hope of reaching its 2050 climate goals unless it can find a way to speed up the approvals process for major projects in this country, a new report states.
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Fed Chair Powell sees progress on inflation, though not quickly enough

Fed Chair Powell sees progress on inflation, though not quickly enough

WASHINGTON (AP) — Inflation may be cooling — just not yet fast enough for the Federal Reserve.
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A look at how the Bell layoffs affect their journalism platform

A look at how the Bell layoffs affect their journalism platform

TORONTO — BCE Inc. announced Wednesday that it is cutting 1,300 positions, around three per cent of its workforce, and closing or selling nine radio stations as the company plans to "significantly adapt" how it delivers the news.
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Reitmans reports $3.8 million loss in first quarter, sales rise

Reitmans reports $3.8 million loss in first quarter, sales rise

MONTREAL — Reitmans (Canada) Ltd. reported a net loss of $3.8 million in its first quarter, compared with a net loss of $1.7 million a year earlier. The Montreal-based retailer says sales for the quarter ended April 29 were $165.0 million, up 7.
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Oregon jury: PacifiCorp must pay punitive damages for fires, plus award that could reach billions

Oregon jury: PacifiCorp must pay punitive damages for fires, plus award that could reach billions

PORTLAND, Ore. (AP) — A jury in Oregon says the electric utility PacifiCorp must pay punitive damages for causing devastating wildfires in 2020 — on top of an earlier verdict already expected to amount to billions of dollars.
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S&P/TSX composite edges upward, U.S. stock markets mixed after central bank pause

S&P/TSX composite edges upward, U.S. stock markets mixed after central bank pause

TORONTO — Strength in industrials and metals helped buoy Canada's main stock index amid energy weakness Wednesday, while U.S. stock markets were mixed after the country's central bank held interest rates steady.
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Bell cuts 1,300 positions, radio stations and foreign bureaus in restructuring

Bell cuts 1,300 positions, radio stations and foreign bureaus in restructuring

TORONTO — BCE Inc. is cutting 1,300 positions, shutting or selling nine radio stations and closing two foreign bureaus as the company plans to "significantly adapt" how it delivers the news in the face of rising financial pressure.
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