Higher gold prices help TSX to move higher and offset latest recession warning

Higher gold prices help TSX to move higher and offset latest recession warning
TORONTO — Higher gold prices pushed Canada’s main stock index higher, blunting the latest warnings in the U.S. of a potential recession. The S&P/TSX composite index closed up 84.80 points at 16,183.59. In New York, the Dow Jones industrial average was down 120.93 points at 25,777.90. The S&P 500 index was down 9.22 points at 2,869.16, while the Nasdaq composite was down 26.79... Read More

Agriculture could add $11B a year to Canada’s GDP by 2030, report finds

Agriculture could add $11B a year to Canada’s GDP by 2030, report finds
Canada’s agriculture industry could generate an additional $11 billion for the country’s gross domestic product annually by 2030 if the government invests in people and technology, according to a new report. “The demand for food is growing significantly and it’s going to be massive in the 2020s,” said John Stackhouse, senior vice president at RBC and contributor to the report. By 2030, there will be... Read More

Mining sector helps boost stocks in Toronto while U.S. stock markets tick lower

Mining sector helps boost stocks in Toronto while U.S. stock markets tick lower
TORONTO — Mining stocks helped Canada’s main stock index head higher in late-morning trading, while U.S. stock markets lost ground. The S&P/TSX composite index was up 44.51 points at 16,143.30. In New York, the Dow Jones industrial average was down 26.05 points at 25,872.78. The S&P 500 index was down 3.25 points at 2,875.13, while the Nasdaq composite was down... Read More

Scotiabank hikes dividend as third-quarter profits rise to $1.98 billion

Scotiabank hikes dividend as third-quarter profits rise to $1.98 billion
TORONTO — The Bank of Nova Scotia raised its dividend as its third-quarter earnings beat expectations, with growth in international banking offset by acquisition and divestiture-related costs and lower profits in global banking and markets. The Toronto-based lender says it will raise its quarterly payment to shareholders by three cents to 90 cents per share. The dividend hike came as Scotiabank reported net income for the quarter ended July 31 of $1.98... Read More

Teck zinc production to take a hit after equipment failure at refinery

Teck zinc production to take a hit after equipment failure at refinery
VANCOUVER — Teck Resources Ltd. says zinc production will be less than expected after an electrical equipment failure on the weekend at its refinery in Trail, B.C. The company says the failure affected one of four rectifiers used in the zinc refinery. There were no injuries or environmental impacts related to the incident which occurred Sunday. Teck says repairs are... Read More