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Stocks slide as strong economic data raises rate worries

Stocks slide as strong economic data raises rate worries

NEW YORK (AP) — A swift jump in Treasury yields rattled Wall Street Wednesday, weighing down stock indexes at the start of another month in what’s been a turbulent year. The S&P 500 fell 0.7% after an early morning gain quickly vanished.
Stagflation-lite? Risk of stagflation grows, though unlikely a repeat of 1970s

Stagflation-lite? Risk of stagflation grows, though unlikely a repeat of 1970s

Canada is leaning toward a new era of 1970s-style stagflation as the pace of economic growth slows yet inflation remains stubbornly high, economists say. The abnormal mix of rising prices and high joblessness gripped the country 40-odd years ago.
BlackBerry exploring other options for sale of legacy patents

BlackBerry exploring other options for sale of legacy patents

WATERLOO, ONTARIO — BlackBerry Ltd. says it is exploring alternatives around the sale of its legacy patents as a deal with U.S.-based Catapult IP Innovations Inc. has taken longer than expected to complete.
Canada Infrastructure Bank commits $80 million for clean power project

Canada Infrastructure Bank commits $80 million for clean power project

ATLIN, B.C. — The Canada Infrastructure Bank (CIB) is committing $80 million toward the Atlin Hydroelectricity Expansion, a clean power project it says will benefit residents of the Yukon territory.
Laurentian Bank posts most profitable quarter since 2018

Laurentian Bank posts most profitable quarter since 2018

MONTREAL — Laurentian Bank of Canada reported a second-quarter profit of $59.5 million, up from $53.1 million a year ago, its most profitable quarter since 2018. The Montreal-based bank says its net income amounted to $1.
EU approves Poland recovery fund, paving way to pay billions

EU approves Poland recovery fund, paving way to pay billions

BRUSSELS (AP) — The European Union’s executive branch on Wednesday approved Poland’s pandemic recovery fund, paving the way for the release of billions of euros in grants and loans, even as lawmakers expressed deep unease about democratic backsliding
Study finds non-homeowners are pessimistic about buying homes despite cooling prices

Study finds non-homeowners are pessimistic about buying homes despite cooling prices

TORONTO — A new study conducted by Chartered Professional Accountants of Canada (CPA Canada) finds that Canadians who don't own homes think home ownership remains far out of reach despite prices cooling slightly across the country.
The Bank of Canada hiked rates again. Here's a timeline of how we got here

The Bank of Canada hiked rates again. Here's a timeline of how we got here

The Bank of Canada raised its overnight rate by half a percentage point to 1.5 per cent Wednesday and signalled more increases to come, as it aims to curb out-of-control inflation, which is now at its highest level in 30 years.
US job openings decline from record level but remain high

US job openings decline from record level but remain high

WASHINGTON (AP) — The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high and companies are still desperate to hire more people. Employers advertised 11.
Restaurant sales surpassed pre-pandemic levels in March: Statistics Canada

Restaurant sales surpassed pre-pandemic levels in March: Statistics Canada

OTTAWA — Restaurant and bar sales in this country have surpassed their pre-COVID-19 levels for the first time since the pandemic began, according to Statistics Canada.