Lightspeed POS announces public offering in the United States and listing on NYSE

Lightspeed POS announces public offering in the United States and listing on NYSE
MONTREAL — Lightspeed POS Inc. says it will launch an initial public offering of its voting shares in the United States to help fund its growth strategies. The Montreal-based retail payment technology firm’s shares will trade on the New York Stock Exchange under the ticker LSPD, the same symbol it uses on the Toronto Stock Exchange. A total of 11.65... Read More

North American stock markets bounce back from three-day tech-led correction

North American stock markets bounce back from three-day tech-led correction
TORONTO — North American stock markets enjoyed a broadly based bounce-back midweek after a three-day correction driven by the technology sector. The S&P/TSX composite index closed up 284.08 points at 16,383.60. In New York, the Dow Jones industrial average was up 439.58 points at 27,940.47. The S&P 500 index gained 67.12 points at 3,398.96, while the Nasdaq composite was up... Read More

Statistics Canada rejigs low-income stats, showing growing poverty gap

Statistics Canada rejigs low-income stats, showing growing poverty gap
OTTAWA — An updated picture of poverty across the country prior to the COVID-19 pandemic is showing that those living well below the low-income threshold had fallen further behind. The figures from Statistics Canada show the average “poverty gap,” which measures how far people on average fall below the official poverty line, grew from 31.8 per cent in 2015 to 33.4... Read More

Marriott to lay off 17% of corporate staff next month

Marriott to lay off 17% of corporate staff next month
Marriott International Inc. plans to lay off 17% of its corporate workforce next month as the coronavirus continues to take a heavy toll on the hotel industry. The Bethesda, Maryland-based company confirmed Wednesday that it will lay off 673 workers late next month. Marriott has around 4,000 employees at its corporate headquarters. Marriott furloughed two-thirds of its corporate staff in... Read More

Stocks perk up on Wall Street as tech bloodletting halts

Stocks perk up on Wall Street as tech bloodletting halts
NEW YORK — Wall Street is steadying itself Wednesday following its first three-day losing streak in nearly three months, as the bloodletting for big technology stocks comes to at least a temporary halt. Apple, Amazon, Zoom Video Communications and other tech companies that have tumbled since late last week on worries their stocks soared too high all regained some ground.... Read More

Husky review of $2.2B West White Rose a plea for government help, analyst says

Husky review of $2.2B West White Rose a plea for government help, analyst says
ST. JOHN’S, N.L. — An announced review by Husky Energy Inc. of its $2.2-billion West White Rose project off the coast of Newfoundland could be interpreted as a call for the province to take an equity stake to ensure it is built, an analyst says. Under a “worst-case scenario,” it could also signal the Calgary-based company’s option to eventually shut down or sell the currently producing... Read More

Bank of Canda keeps key interest rate target on hold

Bank of Canda keeps key interest rate target on hold
OTTAWA — The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent and says it will stay there until inflation is back on target. The central bank’s key rate has remained at its lower effective bound since March when COVID-19 lockdowns plunged the economy into crisis. In a statement today, the central bank’s... Read More

North American stock markets up at late-morning, loonie edges lower

North American stock markets up at late-morning, loonie edges lower
OTTAWA — The financial and industrial sectors helped lead a broad-based rally as Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets also surged higher. The S&P/TSX composite index was up 246.62 points at 16,346.14. In New York, the Dow Jones industrial average was up 517.03 points at 28,017.92. The S&P 500... Read More

CPP Investments creates new senior management position to reflect anticipated growth

CPP Investments creates new senior management position to reflect anticipated growth
TORONTO — The investment manager for Canada’s national retirement fund has named Edwin Cass as its first-ever chief investment officer, a position that’s being created to reflect the growing size of its fund. Cass will report to Mark Machin, the president and chief executive of the Canada Pension Plan Investment Board. Machin says the fund is on track to more... Read More

CMHC reports annual pace of housing starts in Canada picked up in August

CMHC reports annual pace of housing starts in Canada picked up in August
OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in August rose nearly seven per cent compared with July. The housing agency says the seasonally adjusted annual rate of housing starts was 262,396 units in August, up from 245,425 units in July. Economists had expected an annual rate of 220,000 starts in August, according to... Read More