S&P/TSX composite index recovers losses to close up as U.S. markets fall

S&P/TSX composite index recovers losses to close up as U.S. markets fall
TORONTO — Canada’s main stock index recovered in afternoon trading, closing higher after posting a triple-digit decline early in the day. The S&P/TSX composite index was up 45.63 points at 16,501.03. “Despite the early morning sell-off … stocks have clawed back a good chunk of their losses,” said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc. The market... Read More

NBC holds fast to dueling town halls despite celebrity anger

NBC holds fast to dueling town halls despite celebrity anger
NEW YORK — Despite protests from Hollywood stars, NBC stood fast to its decision to hold a Thursday town hall with President Donald Trump at the same time that his Democratic opponent, Joe Biden, has a similar event on ABC. Amy Schumer, Ben Stiller, Debra Messing, Seth Rogen, Jon Cryer, Jon Hamm, Sarah Silverman and Sterling K. Brown were among... Read More

Shares of Chinese retailer Miniso jump in 1st day of trading

Shares of Chinese retailer Miniso jump in 1st day of trading
HONG KONG — Shares of Miniso Group Holding jumped in their first day of trading, while the broader markets were on pace for their third straight loss this week. Miniso, a Chinese discount retailer known for its fashionable but affordable household products, raised $608 million in a U.S. initial public offering in New York. The Guangzhou-based retailer is the latest... Read More

‘Ghost town’ in the PATH as retailers in downtown indoor networks wait out COVID-19

‘Ghost town’ in the PATH as retailers in downtown indoor networks wait out COVID-19
TORONTO — Eli Shimonov’s lunch spot reopened after the first COVID-19 shutdown in July, but without the usual hordes of office workers making their way through Toronto’s underground pedestrian network each day, business is “very, very, very, very slow.” “We’re down probably about 95 per cent,” he said Tuesday during what would have been a busy lunch hour before the... Read More

Unifor reaches tentative deal with Fiat Chrysler, automaker to invest up to $1.5B

Unifor reaches tentative deal with Fiat Chrysler, automaker to invest up to $1.5B
TORONTO — Unifor says it has reached a tentative agreement for 9,000 workers at Fiat Chrysler Automobiles in Canada, averting a strike at six plants across the country. The deal must now be voted on and approved by the workers. Unifor national president Jerry Dias calls it the “best economic agreement” in more than two decades. He says the automobile... Read More

Central banks must have digital currency alternative if Facebook’s Libra blocked: BoC

Central banks must have digital currency alternative if Facebook’s Libra blocked: BoC
OTTAWA — A senior official at the Bank of Canada says central banks should have their own digital currency ready as an alternative if they decide to say no to one being developed by Facebook. The social media giant has spent the last 16 months or so developing a digital currency it calls Libra. Bank of Canada deputy governor Timothy... Read More

Chinese retailer Miniso raises $608 million in IPO

Chinese retailer Miniso raises $608 million in IPO
HONG KONG — Miniso, a Chinese discount retailer known for its fashionable but affordable household products, raised $608 million in a U.S. initial public offering in New York. The Guangzhou-based retailer is the latest Chinese company to list in the U.S., amid tensions that have taken U.S.-China relations to their worst level in decades. The U.S. market remains an attractive... Read More

TMAC Resources deal to be bought by Chinese company facing national security review

TMAC Resources deal to be bought by Chinese company facing national security review
TORONTO — TMAC Resources Inc. says the federal cabinet has ordered a national security review of the proposed sale of the Canadian gold miner to a Chinese company. Shandong Gold Mining Co. Ltd. announced a deal in May to buy TMAC, owner of the Hope Bay mining project in Nunavut, for $230 million. The friendly deal has received Chinese regulatory... Read More

North American stock markets down in early trading, loonie also moves lower

North American stock markets down in early trading, loonie also moves lower
TORONTO — Canada’s main stock index posted a triple-digit decline in early trading in a broad-based drop at the Toronto Stock Exchange, while U.S. stock markets also fell. The S&P/TSX composite index was down 120.75 points at 16,334.65. In New York, the Dow Jones industrial average was down 244.13 points at 28,269.87. The S&P 500 index was down 35.86 points... Read More