The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters this week. The move follows the introduction of a new U.S. legislation that would allow the White House to ban TikTok or other foreign-based technologies if they pose […]
Canada
Canada’s main stock index closed higher on Thursday, rebounding from initial losses on news that First Republic Bank received $30 billion in deposits from several big banks as part of a rescue package. Shares of First Republic and other banks have slumped on fears of a contagion after the collapse of SVB Financial Group and […]
Canada’s main stock index fell more than 1% on Tuesday, including sharp declines for resource shares and the shares of BlackBerry Ltd, as hawkish remarks by Federal Reserve Chair Jerome Powell strained investor sentiment. The Toronto Stock Exchange’s S&P/TSX composite index ended down 239.26 points, or 1.2%, at 20,275.54, its lowest closing level since last […]
The fallout from Canada’s ban on Chinese-owned TikTok on government-issued devices looks set to hurt the leaders of the country’s two main opposition parties, who have used the app more actively than the ruling Liberals to win over supporters. The leaders of the two biggest opposition parties – Conservative party leader Pierre Poilievre and New […]
Shopify Technologies Inc on Tuesday launched a new service aimed at big retailers that will allow them to select tools and services the Canadian tech giant offers and integrate it with their own online platform. The company said it had signed up toymaker Mattel Inc for the product, and was looking to bring other enterprise […]
Canada’s main stock index slumped to a five-week low on Thursday, with the technology and materials groups leading broad-based declines, as investors were unable to see a clear endpoint for Federal Reserve interest rate hikes. The Toronto Stock Exchange’s S&P/TSX composite index ended down 291.02 points, or 1.5 percent, at 19,600.63, its lowest closing level […]
Canada’s main stock index rose on Wednesday to its highest closing level in five months, lifted by technology and industrial shares as the Federal Reserve signaled it could slow the pace of interest rate hikes. The Toronto Stock Exchange’s S&P/TSX composite index ended up 62.25 points, or 0.3 percent, at 20,282.26, its highest closing level […]
Canadian Prime Minister Justin Trudeau and South Korean President Yoon Suk-yeol on Friday agreed to deepen cooperation on critical minerals used in electric vehicles (EVs) batteries as both countries seek to cut emissions to fight climate change. Yoon visited London for the funeral of Queen Elizabeth, and then New York in his first U.S. trip […]
Canada’s Shopify Inc is laying off 10 percent of its workforce as the ecommerce company struggles with slowing growth due to a pullback in online shopping after benefiting from a pandemic-fueled surge in demand. Its shares tumbled 14.7 percent on the U.S. bourses and on the Toronto Exchange, they shed 14 percent on Tuesday, pulling […]
Canada on Monday announced more measures in response to Russia’s invasion of Ukraine, including additional sanctions and a ban on the export of technologies that could help improve Russia’s defense manufacturing capability. The new sanctions would target six individuals and 46 entities linked to the Russian defence sectors, 15 Ukrainians supporting Russia, and 13 individuals […]