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S&P/TSX composite drifts lower Wednesday, U.S. markets also down

S&P/TSX composite drifts lower Wednesday, U.S. markets also down

TORONTO — Losses in tech, utilities and industrials weighed down gains in some of the other sectors on Canada's main stock index Wednesday, while U.S.
BoC considered not raising rates last month, but hot economy swayed decision

BoC considered not raising rates last month, but hot economy swayed decision

OTTAWA — The Bank of Canada contemplated not raising interest rates last month but with the economy outperforming expectations, its governing council ultimately decided in favour of one more rate hike before taking a pause.
Stocks fall on Wall Street, giving back recent gains

Stocks fall on Wall Street, giving back recent gains

NEW YORK (AP) — Wall Street gave back some of its recent gains as uncertainty about interest rates and inflation continued to reign. The S&P 500 fell 1.1% Wednesday, the Nasdaq fell 1.7% and the Dow Jones Industrial Average gave back 0.6%.
Five key takeaways from the BoC's first summary of interest rate deliberations

Five key takeaways from the BoC's first summary of interest rate deliberations

OTTAWA — In a first for the Bank of Canada, it has released a summary of deliberations by its governing council regarding its policy decision to raise its key interest rate target by a quarter of a percentage point to 4.5 per cent in January.
Labour shortages could push up wages, 'reignite inflation' in long run, report warns

Labour shortages could push up wages, 'reignite inflation' in long run, report warns

TORONTO — Protracted labour shortages in Canada could fuel more rapid wage growth and inflation over time, potentially prompting the need for higher interest rates long-term, a new RBC Economics report released Wednesday said.
Oil major TotalEnergies doubles annual profit to $36 billion

Oil major TotalEnergies doubles annual profit to $36 billion

PARIS (AP) — France's TotalEnergies SE doubled its profits in 2022, joining other international oil and gas companies in fattening their bottom lines as high energy prices surged after Russia’s invasion of Ukraine . Adjusted net income rose to $36.
Auto industry leaders emphasize urgency of Canadian EV response as U.S. cash flows

Auto industry leaders emphasize urgency of Canadian EV response as U.S. cash flows

TORONTO — Urgency was the key word at an electric vehicle conference Wednesday as manufacturers emphasized the need for more coordination and government support in order to take advantage of the tectonic shift underfoot in the automotive industry.
Grammy-winning Canadian songwriter Tobias Jesso Jr. sells song catalogue to Hipgnosis

Grammy-winning Canadian songwriter Tobias Jesso Jr. sells song catalogue to Hipgnosis

TORONTO — Hot off winning two Grammys on Sunday, Canadian singer-songwriter Tobias Jesso Jr. has sold the rights for part of his song catalogue to a prominent music investment company.
Tim Hortons master franchisee in China enters deal to develop Popeyes in China

Tim Hortons master franchisee in China enters deal to develop Popeyes in China

TORONTO — The parent company of the master franchisee of Tim Hortons coffee shops in China says it has signed a deal for the exclusive development of Popeyes in mainland China and Macau. TH International Ltd.
Brookfield Asset Management fourth-quarter profit down from year ago

Brookfield Asset Management fourth-quarter profit down from year ago

TORONTO — Brookfield Asset Management Ltd. says its share of the latest quarterly profit of the asset management business it owns with Brookfield Corp. amounted to US$19 million.