Stock market sell-off continues as U.S. government shutdown looms

Stock prices plunged again on Thursday as a series of big drops in December kept stocks on track for their worst month in a decade. The Dow Jones Industrial Average dropped 464 points, or just under two per cent, bringing its losses since Friday to more than 1,600 points. The benchmark S&P 500 index has slumped 10 per […]

Federal Reserve hikes benchmark interest rate to as much as 2.5%

The U.S. Federal Reserve is raising its key interest rate for the fourth time this year to reflect the economy’s continued strength, but signals it expects to slow its pace of hikes next year. The quarter-point hike, to a range of 2.25 per cent to 2.5 per cent, lifts the Fed’s benchmark rate to its highest […]

TSX at 2-year low, Dow loses another 500 points

New York’s Dow Jones Industrial Average fell 507 points or 2.1 per cent Monday, and the TSX was at a two-year low as investors turned cautious ahead of the U.S. Federal Reserve’s monetary policy guidance, expected on Wednesday. The Federal Reserve is expected to raise U.S. interest rates at the end of its two-day meeting on […]

U by Kotex Sleek tampons recalled in Canada and U.S.

Kimberly-Clark is recalling regular absorbency U by Kotex Sleek tampons in Canada and the United States after reports of the tampons coming apart while being removed from the body. The American company says that in some cases, tampon users sought medical attention “to remove tampon pieces left in the body.” In a news release posted online Tuesday, […]

Bank of Canada holds key interest rate steady at 1.75%

The Bank of Canada has decided to keep its benchmark interest rate right where it is while it digests the impact of its previous policy decisions and the cooling economy. The central bank revealed Wednesday it will keep its benchmark interest rate — known as the target for the overnight rate — at 1.75 per cent. […]

BMO hikes dividend after profit rises 38% in 4th quarter

Bank of Montreal hiked its dividend as it reported a fourth-quarter profit that jumped 38 per cent compared with a year ago and beat analyst estimates. Canada’s fourth-largest bank said Tuesday it will now pay a quarterly dividend of $1 per share, up four cents from its previous payment. The increase in payment to shareholders […]

President of Aeroplan parent company leaves after less than 3 months

Aimia Inc. has announced the departure of its president and chief strategy officer less than three months after he took the job. In late August, the Montreal-based company hired Nathaniel Felsher from Deutsche Bank in New York, where he co-headed the firm’s aviation corporate and investment banking group. “The company wishes to acknowledge Mr. Felsher’s […]

‘Striking’ APEC confrontation causes uncertainty ahead of G20

The opening photo call at the Asia-Pacific Economic Co-operation (APEC) summit Saturday turned out to be a useful roadmap for what unfolded in Papua New Guinea’s capital this past weekend. Front and centre in the shot: Xi Jinping. Stiff and straight, offering an authoritarian smile. Maybe it was the alphabet that put the Chinese president […]

Encana to buy Newfield Exploration for US$5.5B

Encana Corp. has signed a deal to acquire Newfield Exploration Co. in an all-stock offer it said was worth about US$5.5 billion. Under the deal announced Thursday, Newfield shareholders will receive 2.6719 Encana shares for each share of Newfield common stock. Encana will also assume US$2.2 billion of Newfield debt. “This strategic combination advances our […]