TSX strikes gold to close higher
The world’s stock markets were not happy places Wednesday as weak data from China and the US combined with falling oil prices.
The main index of the Toronto Stock Exchange managed to do something that the major markets in Asia, Europe and Wall Street could not; it ended higher.
The gain may be modest but amid the global picture it was welcome. Gold miners, Valeant Pharmaceuticals and the energy and financial sectors all managed some positive moves.
The S&P/TSX Composite Index closed up 30.60 (0.22 per cent)
The Dow Jones closed down 157.1 (0.92 per cent)
Oil is trending lower (Brent $49.27, WTI $46.63 at 4.15pm)
Gold is trending higher (1186.60 at 4.15pm)
The loonie is valued at U$0.7737
TPP to be kept secret until after election
The Trans-Pacific Partnership will not be available to Canadians until after the election. CBC News was told by government officials Wednesday that the full text of the agreement made on Oct. 5 will not be available until next week, after the Oct.19 election. It’s reported that lawyers in some of the 12 countries set to sign the historic partnership are arguing about the document’s wording.
Shopify announces Uber delivery partnership
Shopify and Uber have announced a partnership which will see the ride-share service making same-day deliveries in three US cities. Merchants who use the Canadian ecommerce firm’s platform can opt for the UberRush service to guarantee same day delivery in New York, Chicago and San Francisco.
Fake reviews by employees land Bell with $1.25 million fine
Employees of Bell Canada have landed their employer with a $1.25 million penalty after the Competition Bureau investigated reviews written about Bell’s products by the workers. Despite using their real names the reviewers did not disclose their link to the company. The regulator acknowledged the swift action of Bell in removing the fake reviews but said that they affected the star ratings of the apps. The fine was coupled with an agreement by the company that it will bolster its compliance program.