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Mandatory CanCon contribution could prompt investment cuts, Spotify tells CRTC

Mandatory CanCon contribution could prompt investment cuts, Spotify tells CRTC

Audio streaming platform Spotify says that requiring it to make a contribution aimed at supporting Canadian content could force the company to cut its existing investments in order to maintain its financial viability.
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'First of its kind': Dow invests $9 billion on Alberta net-zero petrochemical project

'First of its kind': Dow invests $9 billion on Alberta net-zero petrochemical project

FORT SASKATCHEWAN, Alta. — Dow Chemical has announced plans to invest nearly $9 billion in a net-zero petrochemical project northeast of Edmonton.
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S&P/TSX composite led higher by financial stocks Wednesday, U.S. markets mixed

S&P/TSX composite led higher by financial stocks Wednesday, U.S. markets mixed

TORONTO — Canada's main stock index posted a small gain Wednesday, led higher by financials and battery metals, while U.S. markets were mixed. The S&P/TSX composite index closed up 79.43 points at 20,116.20.
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Feds select Boeing in sole-source deal for military planes, bypassing Bombardier

Feds select Boeing in sole-source deal for military planes, bypassing Bombardier

The federal government has landed on Boeing Co. to replace the military's aging patrol planes in a multibillion-dollar sole-source deal, closing the door on Quebec-based business jet maker Bombardier Inc., which had been pushing for an open bid.
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Canadian oil and gas execs look to talk up emissions reduction plans at COP28 summit

Canadian oil and gas execs look to talk up emissions reduction plans at COP28 summit

CALGARY — Executives and senior leaders from Canada's oil and gas sector are heading to Dubai for the upcoming United Nations COP28 climate talks, eager to tell the world they are doing what they can to reduce greenhouse gas emissions.
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Stock market today: Wall Street drifts to a mixed close, weighed down by Big Tech

Stock market today: Wall Street drifts to a mixed close, weighed down by Big Tech

NEW YORK — Stocks drifted to a mixed close on Wall Street as drops in several Big Tech companies offset gains in other parts of the market. The S&P 500 gave up an early gain and closed down 0.1% Wednesday. The Nasdaq composite fell 0.
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Labour shortages cost small businesses $38 billion in lost sales last year: CFIB

Labour shortages cost small businesses $38 billion in lost sales last year: CFIB

TORONTO — Small businesses lost more than $38 billion in revenue opportunities last year because of labour shortages, according to estimates from the Canadian Federation of Independent Business.
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Respondents to Bank of Canada questionnaire largely oppose creating a digital loonie

Respondents to Bank of Canada questionnaire largely oppose creating a digital loonie

OTTAWA — The Bank of Canada’s public consultations on the creation of a digital Canadian dollar reveal most respondents are opposed to it.
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US economic growth for last quarter is revised up to a 5.2% annual rate

US economic growth for last quarter is revised up to a 5.2% annual rate

WASHINGTON (AP) — Shrugging off higher interest rates, America's consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate.
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Cutting-edge antibody therapy firm, AbCellera, to lay off 10 per cent of workforce

Cutting-edge antibody therapy firm, AbCellera, to lay off 10 per cent of workforce

VANCOUVER — The Vancouver-based company that helped develop the first antibody therapy treatment for COVID-19 has announced layoffs amounting to 10 per cent of its workforce. AbCellera Biologics Inc.
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