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Algoma Steel reports net loss of $84.8 million in third quarter, revenues rise

Algoma Steel reports net loss of $84.8 million in third quarter, revenues rise

SAULT STE. MARIE, Ont. — Algoma Steel Group Inc. reported a net loss of $84.8 million in its third quarter, compared with a net loss of $69.8 million a year earlier. The Sault Ste. Marie, Ont.-based company says revenue totalled $615.
Backstop on insurance needed from catastrophe risk: OSFI head

Backstop on insurance needed from catastrophe risk: OSFI head

TORONTO — It's important to develop a backstop for the insurance industry against major catastrophes like an earthquake, said the head of Canada's financial institutions regulator Tuesday.
Business funding on climate action needs to "rise exponentially": RBC report

Business funding on climate action needs to "rise exponentially": RBC report

TORONTO — Business funding for climate action needs to "rise exponentially" for Canada to be on track for net zero emissions by 2050, said a report out Tuesday from RBC.
Precision Drilling's North American activity slows on weak natural gas prices

Precision Drilling's North American activity slows on weak natural gas prices

CALGARY — Low natural gas prices significantly reduced North American drilling activity toward the end of 2023, but Canada's largest drilling rig contracting company remains confident the industry will ramp up later this year.
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 (20,957.74, up 85.85 points): Manulife Financial Corp. (TSX:MFC). Finance. Up 43 cents, or 1.45 per cent, to $30.01 on 7.
U.S. stock markets hold on to gains while base metal stocks help boost TSX

U.S. stock markets hold on to gains while base metal stocks help boost TSX

TORONTO — Strength in base metal stocks helped lead modest but broad-based gains on Canada's main stock index, while U.S. markets ticked higher. The S&P/TSX composite index closed up 85.85 points at 20,957.74.
Don’t look to the BoC to solve Canada’s housing and economic woes, Macklem says

Don’t look to the BoC to solve Canada’s housing and economic woes, Macklem says

OTTAWA — Bank of Canada governor Tiff Macklem is laying out the limits of monetary policy as he warns the central bank can’t solve problems such as housing affordability with interest rates.
Strong start to home sales in 2024 unlikely to delay BoC rate cuts: economists

Strong start to home sales in 2024 unlikely to delay BoC rate cuts: economists

TORONTO — A surge in home sales across Canada's largest markets to kick off 2024 is unlikely to prompt the Bank of Canada to delay its probable interest rate cuts later this year.
Accusations of grocery profiteering unfounded, witnesses tell House food committee

Accusations of grocery profiteering unfounded, witnesses tell House food committee

Accusations of profiteering in the Canadian grocery industry are unfounded and unsubstantiated, witnesses told a House of Commons committee studying food prices on Tuesday.
The top US aviation regulator says oversight of Boeing 'is not delivering safe aircraft'

The top US aviation regulator says oversight of Boeing 'is not delivering safe aircraft'

WASHINGTON — The new chief of the Federal Aviation Administration said Tuesday that his agency is midway through a review of manufacturing at Boeing, but he already knows that changes must be made in how the government oversees the aircraft manufactu