Britain's economy grew stronger than expected in November before the Omicron variant struck, bouncing back for the first time above pre-pandemic levels.
TORONTO — When Jenny Dickson goes grocery shopping, they only buy off-brand foods or items on sale for fear of overestimating how much money they have available in their bank account. “This anxiety around doing math can get so intense that I have a panic attack in the middle of the grocery store or just straight up dissociate,” said Dickson, a 28-year-old librarian in Deep River, Ont., who uses they/them pronouns. Dickson used to live on their own, but moved back in with their parents five years
GENEVA (AP) — The World Health Organization's director-general on Monday warned that conditions remain ideal for more coronavirus variants to emerge and it's dangerous to assume omicron is the last one or that “we are in the endgame.” But Tedros Adhanom Ghebreyesus said the acute phase of the pandemic could still end this year if some key targets are met. Tedros laid out an array of achievements and concerns in global health over issues like reducing tobacco use, fighting resistance to anti-micr
SEOUL, South Korea (AP) — South Korea recorded more than 8,000 new coronavirus infections for the first time Tuesday as health authorities reshape the country's pandemic response to address a surge driven by the highly contagious omicron variant. The 8,571 new cases reported by the Korea Disease Control and Prevention Agency followed three straight days exceeding 7,000. With omicron spreading more than twice as fast as the delta strain that cause the last surge, experts say new cases may exceed
(Reuters) -U.S. weapons maker Lockheed Martin Corp reported better-than-expected quarterly profit on Tuesday, helped by a strong performance at its ships and helicopters unit and venture capital gains, and reiterated its sales guidance for 2022. But the company also said it had been informed by the U.S. Federal Trade Commission that its planed purchase of Aerojet Rocketdyne would raise antitrust concerns, leaving Lockheed either to abandon the transaction or fight a federal lawsuit in order to close the deal. The $4.4 billion deal announced in late 2020 is Lockheed's first large acquisition under new Chief Executive Jim Taiclet.
(Reuters) -Boeing Co said on Wednesday it incurred $4.5 billion charges in the fourth quarter on its sidelined 787 program, obscuring the U.S. planemaker's long-awaited return to positive cash flow fueled by rebounding 737 MAX deliveries. Shares in Boeing fell 2.6% as the array of charges and uncertainty over the 787 program dwarfed a surprise return to positive free cash flow and plans to increase production on the 737 and 777. The quarterly results underscore the challenges Boeing faces as it seeks to rebound from the coronavirus pandemic and 737 MAX safety crises, while navigating industrial and regulatory currents on its bigger 787 and 777X flagship.
The Canadian dollar edged higher against the greenback on Tuesday as some of the recent disquiet in financial markets eased a notch and investors prepared for a potential interest rate hike by the Bank of Canada. The loonie was trading 0.2% higher at 1.2615 to the U.S. dollar, or 79.27 U.S. cents, after trading in a range of 1.2598 to 1.2669. On Monday, it touched its weakest intraday level in more than two weeks at 1.2701 amid equity market turbulence.
Vaccine mandates for truckers have raised transportation costs — but haven't impacted the shipment of goods to stores, the head of one of Canada's largest grocery chains says. Instead, Metro president and CEO Eric La Flèche said Tuesday the biggest impact on Canada's food industry supply chain has been worker absenteeism due to COVID-19 protocols. The labour shortage caused by quarantined workers has impacted the entire supply chain — including retail stores, distribution centres and suppliers a
Retail sales of new vehicles could fall 8.3% to 828,900 units from a year earlier, a report released by the consultants on Wednesday said. "The volume of new vehicles being delivered to dealerships in January has been insufficient to meet strong consumer demand, resulting in a significantly diminished sales pace," said Thomas King, president of the data and analytics division at J.D. Powers. The COVID-19 pandemic has caused bottlenecks in supply chains, driving up costs for everything from labor to raw materials.
NEW YORK (AP) — Walmart said Tuesday it has taken a stake in agriculture startup Plenty, becoming the first large U.S. retailer to significantly invest in indoor vertical farming as a way to deliver fresher produce to its stores. Vertical farmers tout their high-quality produce that brings higher yields while using less water and land. The method also doesn’t use pesticide, and the produce can be grown year round near the point of distribution, increasing the reliability of supply. Walmart, the
The S&P 500's early tumble on Monday put the world's most-followed stock index within reach of confirming its first correction since the 2020 collapse in global markets brought on by the coronavirus pandemic. The S&P 500 slumped as much as 4%, slammed by ongoing worries about rising interest rates and geopolitical fears related to Ukraine.
WASHINGTON (Reuters) -The U.S. Federal Trade Commission said on Tuesday it voted unanimously to sue to block arms maker Lockheed Martin's proposed $4.4 billion purchase of rocket engine maker Aerojet Rocketdyne Holdings Inc over antitrust concerns. Lockheed CEO Jim Taiclet said the company will review the FTC's planned challenge, adding: "With the filing of the suit, we may elect to defend the lawsuit or terminate the merger agreement." Lockheed is the No. 1 U.S. defense contractor by sales.
NEW YORK (AP) — The epic football playoff game between Buffalo and Kansas City reached nearly 43 million television viewers on Sunday, the most for any event since last year's Super Bowl as the NFL struck gold with its rousing weekend. The four games averaged 38.2 TV and digital viewers, up 20% over last year and the best ever for the league's divisional round of playoffs, the Nielsen company said on Tuesday. Each game saw a tie broken on the last play, meaning the audience swelled toward the en
WASHINGTON (Reuters) -The U.S. Transportation Department (USDOT) announced on Monday it is issuing a new rule to make it easier for regulators to move faster to protect airline customers from unfair and deceptive practices. The new regulation, which was reported earlier by Reuters, will simplify and speed hearing procedures the department uses when issuing protection rules to prohibit unfair or deceptive practices by airlines and ticket agents.
Wild swings in stocks are testing the resolve of investors employing one of Wall Street’s most popular strategies: buying the dip. The S&P 500 reversed a deep selloff on Monday to finish up 0.3%, after the benchmark index crossed into correction territory, while the Nasdaq flirted with a bear market before also finishing higher, suggesting that dip buyers have not gone extinct despite big declines in stocks in the first weeks of 2022. But while dip buying has rewarded investors in the last two years as stocks doubled from their March 2020 lows, bargain hunters now face uncertainties over how aggressively the Federal Reserve will need to tighten monetary policy this year, a potential war between Russia and Ukraine, and disappointing corporate earnings.
DENVER (AP) — The sight can be jarring during extreme drought: snowmaking guns lined up on a mountainside, blasting precious crystal flakes on a ski run while the rest of the land goes thirsty. Snowpack in the U.S. West has decreased by about 20% in the last century, making man-made snow more vital each year to opening ski resorts and fueling ski town economies as they head into an uncertain future. As the effects of drought and climate change increasingly hit home, the ski industry has invested
TORONTO — Canada's largest association of small and medium-sized businesses is urging the federal government to reverse its policy banning unvaccinated truck drivers from entering Canada. The Canadian Federation of Independent Business says the vaccine mandate is creating supply shortages and driving up shipping costs. CFIB president Dan Kelly says businesses were already facing a major supply chain crunch and price increases on everything from fuel to building materials. He says Ottawa's border
SOPHiA GENETICS SA (Nasdaq: SOPH), the creator of a global data pooling and knowledge sharing platform that democratizes data-driven medicine, today announced that Ken Freedman has been appointed Chief Revenue Officer. With a background in serving some of the most innovative providers of technology to the world-wide media space, Ken brings more than 25 years of sales, marketing, and executive management experience.
NEW YORK (Reuters) -Oil prices rose over 2% on Tuesday on concerns supplies could become tight due to Ukraine-Russia tensions, threats to infrastructure in the United Arab Emirates and struggles by OPEC+ to hit its targeted monthly output increase. Analysts noted that oil prices rose despite a drop in equities markets and the possibility of an interest rate hike by the U.S. Federal Reserve on Wednesday. Brent futures rose $1.93, or 2.2%, to settle at $88.20 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2.29, or 2.8%, to settle at $85.60.
WASHINGTON (AP) — Federal regulators are suing to block Lockheed Martin Corp.'s $4.4 billion bid for Aerojet Rocketdyne Holdings, saying it would limit competition and drive up prices for components used in missiles that Lockheed and other defense contractors build for the Pentagon. The Federal Trade Commission said Tuesday that Aerojet is the last independent U.S. supplier of some key missile parts, and the acquisition would let Lockheed cut off supply to rival. Lockheed said it was reviewing t
The Canadian dollar weakened on Monday to its lowest level in more than two weeks against its U.S. counterpart as investors dumped riskier assets on fears of a Russian attack on Ukraine. "While risk-off price action has been abundant today due to geopolitical factors, it took the nosedive in U.S. equity markets to trigger a fresh wave of risk aversion in markets," said Simon Harvey, head of FX analysis for Monex Europe and Monex Canada. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to moves in risk appetite.
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