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Sheryl Sandberg, longtime No. 2 exec at Facebook, steps down
SAN FRANCISCO (AP) — Sheryl Sandberg, the No. 2 executive at Facebook owner Meta, is stepping down, according to a post Wednesday on her Facebook page. Sandberg has served as chief operating officer at the social media giant for 14 years.
Jun 1, 2022 4:19 PM
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BoC pledges to get tough on high inflation, raises key rate by half point once more
OTTAWA — In an unprecedented move, the Bank of Canada has announced a major increase to its key interest rate for the second time in two months, saying it is "prepared to act more forcefully" as it forecasts higher consumer prices to come this year.
Jun 1, 2022 4:11 PM
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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.
Jun 1, 2022 4:07 PM
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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.
Jun 1, 2022 4:05 PM
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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.
Jun 1, 2022 2:49 PM
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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.
Jun 1, 2022 2:05 PM
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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.
Jun 1, 2022 1:45 PM
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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
Jun 1, 2022 1:19 PM
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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.
Jun 1, 2022 12:27 PM
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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.
Jun 1, 2022 10:27 AM
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