TSX closes higher as oil gains... BoC governor hints at interest rate rise... Bombardier may not get US duties decision for months...
After the news that Mexx stores will be closing next month there was more bad news for retail today.
A report by OPEC claims that US oil producers will begin slowing the growth of production this year as the oil price slides to unprofitably low levels.
A slowdown in house prices has been reported today by the Canadian Real Estate Association.
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The TSX slumped again today but it wasn’t all down to energy, banks and minerals.
Oil made something of a comeback today despite an Energy Information Administration report showing a growing glut of supplies.
Subscribers to TV, telephone and internet services declined last year for Shaw Communications, meaning a 7 per cent drop in profits for the latest quarter.
The 95 stores that make up Mexx Canada will be liquidated by the end of February and the firm’s head office will close a month later.
Investors are betting against Canada’s economy with oil at its current low.
December saw house prices drop from the month before according to the Teranet-National Bank Composite House Price Index.