TSX posts strong gain in catch up following Victoria Day holiday closure

TSX posts strong gain in catch up following Victoria Day holiday closure
TORONTO — Canada’s main stock index posted a triple-digit advance as it played catch up to strong rallies in the U.S. over the Victoria Day holiday. The S&P/TSX composite index closed up 246.58 points or 1.7 per cent at 14,885.48. In New York, the Dow Jones industrial average was down 390.51 points at 24,206.86. The S&P 500 index was down 30.97 points at 2,922.94,... Read More

For pandemic-era homebuyers, virtual tours and patience can pay off

For pandemic-era homebuyers, virtual tours and patience can pay off
Thomas Rosenthal has been checking online property listings every day while under lockdown. The 30-year old University of Toronto master’s student, who works part-time as a data engineer, currently rents a one-bedroom in midtown Toronto with his partner for $1,900 a month. They’re generally happy there, and their landlord is friendly and accommodating. But a place of their own would offer them... Read More

Sony to buy full control of financial unit to weather crisis

Sony to buy full control of financial unit to weather crisis
TOKYO — Sony Corp. plans to make its financial services unit a wholly owned subsidiary to ensure stability as it rides out the hardships brought on by the coronavirus pandemic. “We will be able to carry out more flexible management,” Kenichiro Yoshida, chief executive of the Japanese entertainment and electronics company, told reporters in a livestream news conference Tuesday. Tokyo-based... Read More

California eases more restrictions; restaurants may open

California eases more restrictions; restaurants may open
SACRAMENTO, Calif. — Gov. Gavin Newsom announced a dramatic relaxation Monday of health standards to reopen the state, a move that could allow nearly every county to proceed more quickly, and he offered the possibility of pro sports returning — without fans — by early June. The announcement marked a significant departure from strict criteria Newsom laid out just over... Read More

Biden vowing to rip up Keystone XL approvals if former VP wins White House

Biden vowing to rip up Keystone XL approvals if former VP wins White House
WASHINGTON — Joe Biden’s campaign promised Monday to rip up U.S. President Donald Trump’s approvals for the Keystone XL pipeline if the former vice-president succeeds in taking over the White House next year. Campaign officials finally ended the presumptive Democrat nominee’s months of self-imposed silence on how he would handle the politically sensitive expansion project, an ambitious, 1,900-kilometre heavy-oil line that would move... Read More

Equipment finance company Chesswood Group suspends monthly dividend

Equipment finance company Chesswood Group suspends monthly dividend
TORONTO — Chesswood Group Ltd. says it is temporarily suspending its monthly dividend as part of its plan to resume funding new business in the U.S. as closure restrictions due to the pandemic begin to lift. The commercial equipment finance company says the decision was part of a move to also draw on its revolving credit facility as its customers’... Read More

Walmart becomes a lifeline, online sales surge 74%

Walmart becomes a lifeline, online sales surge 74%
NEW YORK — Walmart became one of the few lifelines to millions of people as the coronavirus spread, leading to surging profit and sales during the fiscal first quarter. Online sales in the U.S. jumped 74% for the quarter ended April 30, which captured the brunt of the pandemic. Same-store sales rose 10% at U.S. Walmart stores on strong sales... Read More

Broad rally helps boost stocks in Toronto, U.S. stock markets mixed

Broad rally helps boost stocks in Toronto, U.S. stock markets mixed
TORONTO — A broad-based rally helped Canada’s main stock index to post a triple-digit advance in late-morning trading, while U.S. markets were mixed. The S&P/TSX composite index was up 223.54 points at 14,862.44. In New York, the Dow Jones industrial average was down 77.33 points at 24,520.04. The S&P 500 index was up 1.40 points at 2,955.31, while the Nasdaq... Read More

U.S. agrees to Canada’s request to extend non-essential travel ban into June

U.S. agrees to Canada’s request to extend non-essential travel ban into June
WASHINGTON — The United States has agreed to Canada’s request to extend the mutual ban on non-essential cross-border travel until June 21. Prime Minister Justin Trudeau confirmed the extension today. He calls it an important decision that will protect citizens in both countries. The deal, which prohibits discretionary travel while permitting trade shipments, commerce and essential workers to continue to move in... Read More