Broad-based rally lifts Toronto stock index and Wall Street higher, loonie up

Broad-based rally lifts Toronto stock index and Wall Street higher, loonie up
TORONTO — Strong U.S. corporate earnings helped push North American stock indexes higher Thursday, as markets bounced back from modest declines a day earlier. The S&P/TSX composite index was up 56.89 points to 15,935.37, with energy shares one of the few decliners amid a continuing drop in the price of oil. The January crude contract was down 17 cents at US$55.35 per barrel —... Read More

NDP MP proposes changes to federal insolvency laws to increase pension protections

NDP MP proposes changes to federal insolvency laws to increase pension protections
TORONTO — An Ontario backbench member of Parliament tabled a bill Monday to amend Canada’s insolvency laws so they offer more protections to pension plans, post-retirement benefits and severance when a company is in deep financial trouble. The treatment of pensions during court-supervised restructurings has been a long-simmering issue but has attracted new attention since Sears Canada sought protection under the Companies Creditors Arrangement Act in July.... Read More

TSX sets another record high, as loonie falls after disappointing GDP report

TSX sets another record high, as loonie falls after disappointing GDP report
TORONTO — Canada’s main stock index continued its record-setting pace today, fuelled by energy gains, as the loonie fell. The S&P/TSX composite index advanced 22.81 points to 16,025.59, the second consecutive trading day it’s closed at an all-time high. The Canadian dollar was trading at an average price of 77.56 cents US, down 0.34 of a U.S. cent after a report that the Canadian... Read More

Shopify shares drop as CEO addresses short-seller’s allegations

Shopify shares drop as CEO addresses short-seller’s allegations
OTTAWA — Shopify Inc.’s strong third-quarter earnings report and the CEO’s defence against “preposterous claims” by a “short-selling troll” did little to ease investor concerns as shares tumbled more than eight per cent. The company posted its first adjusted operating profit as a public company in the quarter ended Sept. 30 — a quarter earlier than anticipated — and CEO Tobias Lutke publicly addressed... Read More

Telus International acquires Xavient Information Systems for US$250 million

Telus International acquires Xavient Information Systems for US$250 million
VANCOUVER — Telus International has signed a deal to buy Xavient Information Systems, an information technology consulting firm headquartered in California. Under the agreement, Telus will initially acquire a 65 per cent stake in Xavient with the right to acquire the remaining interest on or before Dec. 31, 2020. Vancouver-based Telus (TSX:T) says the total price to be paid, including... Read More

4 in 10 say if interest rates rise they could be in financial trouble: poll

4 in 10 say if interest rates rise they could be in financial trouble: poll
TORONTO — Four in 10 Canadians say that if interest rates rise any further they fear they will be in financial trouble, a new poll suggests. The survey conducted for insolvency firm MNP Ltd. also found one in three Canadians say they are already feeling the effects of increasing interest rates. “It’s clear that people are nowhere near prepared for... Read More

Falling energy prices weigh down TSX as Wall Street dips into the red

Falling energy prices weigh down TSX as Wall Street dips into the red
TORONTO — Weakness in oil and gas shares weighed on Canada’s largest stock index Thursday as the loonie made a minor advance on the U.S. dollar. The Toronto Stock Exchanges’s S&P/TSX composite index retreated 58.20 points to 15,742.20, with the energy sector leading decliners with losses of 1.65 per cent. The November crude contract was down 70 cents to US$50.60... Read More