Retail sales in Canada rebound in October in sign of resilience
BNN Bloomberg
Canadian retail sales rebounded in October after slipping a month earlier, a sign of robust consumer spending.
Canadian retail sales rebounded in October after slipping a month earlier, a sign of robust consumer spending.
Retailers sold 1.0 per cent more goods in October, according to preliminary estimates released Friday by Statistics Canada. That more than offset a 0.6 per cent drop in September, a month hampered by supply chain bottlenecks. The decline in September was smaller than the 1.9 per cent contraction initially estimated by the statistics agency last month.
The data may bolster confidence the economy is adapting to global supply chain issues, finding ways to get around shipping port closures and micro chip shortages. Economists expect it will take several months for the global supply chain disruptions to ease.
For the third quarter, retail sales rose 2.7 per cent, the biggest quarterly increase in a year. Excluding price gains, quarterly sales were up 1.5 per cent.
Auto sales and parts fell in September due to chip shortages. Sales were down in seven of 11 categories that month.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.
Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.