Latest Business News
Canada Lost 25,000 Jobs in January as Unemployment Rate Falls
Canada's economy shed 25,000 jobs in January while the unemployment rate declined 0.3 percentage points to 6.5 percent, driven by fewer people actively searching for work. Statistics Canada will release its labour force survey for February on Friday, providing updated employment figures
.
Pierre Karl PĂ©ladeau's Transat Board Takeover Faces Shareholder Vote
Media magnate Pierre Karl PĂ©ladeau is attempting to overhaul Transat A.T. Inc.'s board and seize effective control, but proxy advisory firms Glass Lewis and Institutional Shareholder Services have recommended shareholders vote against his proposal. Transat will hold its annual meeting on Tuesday to decide the matter
.
Algoma Steel Reports Results Amid U.S. Tariff Pressures
Algoma Steel Group Inc. will release fourth-quarter and full-year results after markets close on Wednesday. The company has received $500 million in financing from federal and Ontario governments to help navigate U.S. President Donald Trump's steel tariffs
.
Empire Company to Report Third-Quarter Results
Empire Co. Ltd. will report third-quarter results on Thursday before markets open. The Sobeys parent company's earnings follow strong showings from competitors Loblaw Cos. Ltd. and Metro Inc., which have expanded discount banners to attract price-conscious shoppers
.
Canada's Merchandise Trade Deficit Narrowed in December
Statistics Canada will release international merchandise trade data for January on Thursday. In December, Canada posted a $1.3 billion merchandise trade deficit as exports increased 2.6 percent and imports rose 0.6 percent
.
Oil Prices Surge to Highest Levels Since 2023
Oil prices have surged to their highest levels since 2023 due to Middle East tensions and geopolitical uncertainty. The spike reflects concerns about potential disruptions to energy supplies amid regional conflicts
.
U.S. Job Losses Surprise Markets with 92,000 February Decline
U.S. employment fell by 92,000 jobs in February, representing a dramatic reversal from expected gains of 50,000 positions. This unexpected decline signals potential weakness in the American job market and has spooked investors
.
Brent Crude Oil Volatility Driven by Geopolitical Shifts
Brent crude oil prices have fluctuated between approximately $92 and $94 per barrel following geopolitical developments, including a U.S. Treasury Secretary decision to grant a 30-day waiver allowing Indian refiners to purchase Russian crude. Production cuts from Kuwait and Saudi Arabia are further pressuring supply dynamics
.
Global Businesses Call for Predictability Amid Trade Fragmentation
International Chamber of Commerce Chair Varin has warned that businesses require predictability and stability to operate effectively in an increasingly fragmented global economy. Varin cautioned that if the WTO were to collapse, developing and emerging economies could lose 5-10 percent of their GDP due to proliferating bilateral trade agreements
.
WTO Ministerial Discussions to Address Trade Challenges
India's Commerce and Industry Minister Piyush Goyal announced that New Delhi intends to engage with global partners on critical trade issues during the WTO ministerial meeting scheduled for the end of March. The discussions will address growing concerns about trade fragmentation and the weakening of multilateral consensus
.
Tech Sector Layoffs Accelerate Amid Economic Uncertainty
Layoffs in the U.S. tech sector have increased as businesses react to economic uncertainty and shifting market conditions. The uptick in technology job losses contributes to broader employment weakness in the American economy
.
Middle East Energy Sector Faces Increased Targeting in Regional Conflict
Energy infrastructure has emerged as a focal point in Middle East tensions, with reports indicating potential targeting of oil production facilities and assets. The conflict's impact on energy markets is driving significant price volatility and raising concerns about global supply disruptions
.