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Fed's Powell: More rate hikes are likely this year to fight still-high inflation

Fed's Powell: More rate hikes are likely this year to fight still-high inflation

WASHINGTON (AP) — With inflation in the United States still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell told a House committee Wednesday.
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Retail sales grow 1.1 per cent in April as consumer resiliency continues

Retail sales grow 1.1 per cent in April as consumer resiliency continues

OTTAWA — Canadian retail sales came in stronger than initially estimated, as analysts say consumers proved resilient amid an economically challenging environment but that momentum is expected to slow. Retail sales rose 1.1 per cent to $65.
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Baytex Energy closes Ranger acquisition, significantly increases Texas presence

Baytex Energy closes Ranger acquisition, significantly increases Texas presence

CALGARY — Baytex Energy Corp. says it has closed its $2.9-billion acquisition of U.S. oil company Ranger Oil Corp. The deal, first announced in February, grows Calgary-based Baytex's presence in the Eagle Ford shale region of south Texas.
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Tech, human rights groups call on Ottawa to take action on facial recognition, AI

Tech, human rights groups call on Ottawa to take action on facial recognition, AI

OTTAWA — A group of technology and human rights organizations are calling on the federal government to take immediate action to address concerns around artificial intelligence and facial recognition technology.
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European Union countries agree on a new package of sanctions against Russia over the war in Ukraine

European Union countries agree on a new package of sanctions against Russia over the war in Ukraine

BRUSSELS (AP) — European Union countries on Wednesday agreed on a new package of sanctions against Russia for its war against Ukraine aimed at countering sanctions circumvention through third countries and businesses.
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Allied Properties selling Toronto data centre portfolio for $1.35 billion

Allied Properties selling Toronto data centre portfolio for $1.35 billion

TORONTO — Allied Properties Real Estate Investment Trust says it has signed a deal to sell its urban data centre portfolio in downtown Toronto to Japanese telecommunications company KDDI Corp. for $1.35 billion.
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Ottawa aims to shed more light on how well airports are working as travel ramps up

Ottawa aims to shed more light on how well airports are working as travel ramps up

The federal government moved this week to bolster accountability at airports, introducing new legislation that would compel them and other operators to cough up more information on their performance.
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CPA Quebec, Ontario bodies sever ties with national organization

CPA Quebec, Ontario bodies sever ties with national organization

TORONTO — An apparent rift among the organizations representing chartered professional accountants in Canada became public when two provincial groups said they are severing ties with their national counterpart.
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Most actively traded companies on the Toronto Stock Exchange

Most actively traded companies on the Toronto Stock Exchange

TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,754.14, down 180.07): Canadian Imperial Bank of Commerce. (TSX:CM). Finance. Down $1.22, or 2.09 per cent, to $57.14 on 12.
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S&P/TSX composite down nearly 200 points Tuesday, U.S. stock markets also lower

S&P/TSX composite down nearly 200 points Tuesday, U.S. stock markets also lower

TORONTO — Canada's main stock index was down 180 points Tuesday, led by declines in the energy and base metal sectors, while U.S. stock markets also moved lower.
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