Courts, social services win in Alberta budget; students face tuition increases

Courts, social services win in Alberta budget; students face tuition increases
EDMONTON — Alberta’s United Conservative government tabled its first budget Thursday. Here is a look at who might be pleased and who won’t be so happy: WINNERS Bibliophiles: Government to maintain library service grant funding at $37 billion. Courts: Province to hire 50 new prosecutors and increase access to drug treatment courts. Social services: More money to go to address human trafficking, sexual exploitation and... Read More

TSX gets small lift as investors move from defensive sectors that led in 2019

TSX gets small lift as investors move from defensive sectors that led in 2019
TORONTO — Canada’s main stock index got a small lift Thursday as investors largely moved away from defensive sectors that have done well in 2019. “It’s another one of these days where there’s a bit of churn going on beneath the surface,” said Mike Archibald, associate portfolio manager with AGF Investments Inc. Investors moved from utilities and real estate to more cyclical... Read More

Outgoing ECB chief defends legacy against stimulus skeptics

Outgoing ECB chief defends legacy against stimulus skeptics
FRANKFURT — Mario Draghi ended his eight-year term as head of the European Central Bank by defending his most recent stimulus package and reminding that the eurozone is now in better shape than during the days when the Greek crisis threatened to break it apart. Draghi resisted extensive reminiscence about his term at his last news conference. He downplayed the... Read More

Hexo cutting 200 jobs as it looks to profitability, ‘long-term viability’

Hexo cutting 200 jobs as it looks to profitability, ‘long-term viability’
GATINEAU, Que. — Cannabis company Hexo Corp. says it is cutting 200 jobs to adjust for expected future revenues and ensure the long-term viability of the firm. The announcement comes after earlier this month Hexo cut its net revenue forecast for the fourth quarter of its financial year which ended July 31 and withdrew its 2020 outlook, citing factors including slower-than-expected pot store rollouts and early... Read More

CMHC expects housing market to recover in next two years after declines

CMHC expects housing market to recover in next two years after declines
OTTAWA — Canada’s federal housing agency expects the housing market to recover in the next two years after declines in home building, sales and prices. Canada Mortgage and Housing Corp. said in its annual market outlook Thursday that housing starts should come in at around 200,000 units in the next two years. That’s above the roughly 194,000 expected this year but still well below the decade-high of almost 220,000... Read More

Materials, tech and industrials lift TSX, U.S. stock markets mixed

Materials, tech and industrials lift TSX, U.S. stock markets mixed
TORONTO — The materials, technology and industrials sectors helped lift Canada’s main stock index higher in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 43.49 points at 16,379.42. In New York, the Dow Jones industrial average was down 58.83 points at 26,775.12. The S&P 500 index was up 2.7 points at 3,007.22, while the Nasdaq... Read More

Precision Drilling reports $3.5M Q3 loss, revenue down from year ago

Precision Drilling reports $3.5M Q3 loss, revenue down from year ago
CALGARY — Precision Drilling Corp. says it lost $3.5 million in its latest quarter compared with a loss of $30.6 million in the same quarter last year as it cut expenses. The oilfield services company says the loss amounted to a penny per share for the quarter ended Sept. 30 compared with a loss of 10 cents per share a year earlier.... Read More

Miner Teck Resources reports Q3 profit down, plans to focus on reducing costs

Miner Teck Resources reports Q3 profit down, plans to focus on reducing costs
VANCOUVER — Teck Resources Ltd. says it is focusing on improving efficiency and productivity after it reported its third-quarter profit fell compared with a year ago. Teck chief executive Don Lindsay says global economic uncertainties are having a “significant negative effect” on the company’s prices for its products, particularly steelmaking coal. The Vancouver-based mining company is implementing a cost reduction program... Read More

Home renovations with the best financial, emotional return for owners

Home renovations with the best financial, emotional return for owners
Dream kitchens and luxurious bathrooms are often the go-to renovations for homeowners looking for the best return on investment, but experts suggest the biggest bang for their buck might be as simple as replacing a garage door. Renovations in Canada are big business, with Canadians spending about $6.3 billion on residential renovations in August 2019 alone, up from roughly $5.8 billion in the... Read More