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National Business

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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Canada halts activity at Asian development bank, looks to review its membership

Canada halts activity at Asian development bank, looks to review its membership

OTTAWA — Finance Minister Chrystia Freeland announced Wednesday that Canada will halt all government-led activity at the Asian Infrastructure Investment Bank after a Canadian citizen tendered his resignation from the financial institution.
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Stock market today: Wall Street ends mixed as Fed keeps rates steady but signals more hikes may come

Stock market today: Wall Street ends mixed as Fed keeps rates steady but signals more hikes may come

NEW YORK (AP) — Stocks swung to a mixed close on Wall Street after the Federal Reserve hinted it may raise interest rates two more times this year. The S&P 500 ended less than 0.
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Oxford Properties Group acquires The Rimrock Resort Hotel in Banff

Oxford Properties Group acquires The Rimrock Resort Hotel in Banff

TORONTO — Oxford Properties Group says it's acquired the 330-room Rimrock Resort Hotel in Banff National Park. The real estate firm says hospitality group Accor has signed with Oxford to operate the hotel, effective immediately.
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Household debt level rises as interest rates bite into cash flow

Household debt level rises as interest rates bite into cash flow

OTTAWA — Canadians have less cash to spend even as they are taking on more debt, Statistics Canada reported Wednesday, at a time when interest rates are the highest they've been in decades.
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Inflationary pressures continue to ease, producer prices drop 0.3% from April to May

Inflationary pressures continue to ease, producer prices drop 0.3% from April to May

WASHINGTON (AP) — Wholesale prices in the United States dropped 0.3% from April to May, another sign that inflationary pressures continue to ease in the face of repeated interest rate hikes by the Federal Reserve.
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