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S&P/TSX composite edges lower Wednesday; U.S. markets fall

S&P/TSX composite edges lower Wednesday; U.S. markets fall

TORONTO — Canada's main stock index edged downward Wednesday as the price of oil receded off a strong morning, while U.S. markets slid by a wider margin. The S&P/TSX composite index was down 81.23 points at 20,376.23.
Tech company Hootsuite lays off 7% of staff, names Irina Novoselsky new CEO

Tech company Hootsuite lays off 7% of staff, names Irina Novoselsky new CEO

VANCOUVER — Social media technology company Hootsuite Inc. is laying off seven per cent of its staff in its third job cut in the last year and replacing its chief executive.
Wall Street has biggest pullback of the year, led by tech

Wall Street has biggest pullback of the year, led by tech

NEW YORK — Wall Street had its biggest pullback of the year as a January market rally sputtered. Technology stocks led the way lower, including a 1.9% drop in Microsoft after the tech titan joined others in its industry in announcing layoffs.
Severe weather in Canada caused $3.1 billion in insured damages in 2022

Severe weather in Canada caused $3.1 billion in insured damages in 2022

The Insurance Bureau of Canada says severe weather caused $3.1 billion in insured damage in Canada in 2022, from flooding to storms to Hurricane Fiona. That makes 2022 the third worst year for insured losses in Canadian history.
December retail sales fall 1.1% as inflation takes a toll

December retail sales fall 1.1% as inflation takes a toll

NEW YORK (AP) — Americans cut back on spending in December, the second consecutive month they've done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.
Irving Oil refinery to use renewable natural gas made from food waste under new deal

Irving Oil refinery to use renewable natural gas made from food waste under new deal

ST. JOHN'S, N.L. — Irving Oil says it has teamed up with a renewable energy producer to supply its Saint John, N.B., refinery with carbon-negative renewable natural gas. The New Brunswick company says Anaergia Inc.
Pension funds improving on climate but overall still falling short: report

Pension funds improving on climate but overall still falling short: report

TORONTO — Canadian pension funds are falling short in responding to the climate crisis despite recent progress by some, said a report by an advocacy group out Wednesday.
The 10 most expensive natural disasters in Canada by insurance payouts

The 10 most expensive natural disasters in Canada by insurance payouts

These are the 10 most expensive natural disasters in Canada as measured by insurance payouts, adjusted for inflation in 2021. This data is from the Insurance Bureau of Canada. 1. Fort McMurray wildfires (2016): $4 billion 2.
Hudson's Bay Company unveils 25 Zellers locations to open inside select stores

Hudson's Bay Company unveils 25 Zellers locations to open inside select stores

TORONTO — Hudson's Bay Company has unveiled a list of the first 25 Zellers locations to open inside select Hudson's Bay department stores across Canada.
BMO receives regulatory approval for Bank of the West acquisition

BMO receives regulatory approval for Bank of the West acquisition

TORONTO — BMO Financial Group has secured the all-clear from U.S. regulators to close its US$16.3-billion takeover of California-based Bank of the West from BNP Paribas. The deal, expected to close on Feb.