Business

Looking back at the Black Monday stock crash, 30 years later

How long can this nirvana last for investors? The stock market keeps ticking methodically higher into record territory, and the Dow Jones industrial average closed above 23,000 for the first time on Wednesday. It’s been nearly 16 months since S&P 500 index funds had a pullback of even 5 per cent over the course of days or weeks, the longest ...

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Sears managers, execs will still pocket big cash bonuses even though retailer is closing

Sears Canada will pay a final $2.8 million in retention bonuses to 36 head office staff, even though the retailer’s restructuring efforts failed and the company is closing its doors. Promised bonuses were only supposed to be paid in full if the company found a way to survive. However, Sears got court approval on Wednesday to continue paying retention bonuses to ...

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Dow Jones industrial average closes above 23,000 for 1st time

The Dow Jones industrial average closed above the 23,000 level for the first time on Wednesday, driven by a jump in IBM after the computing giant hinted at a return to revenue growth. The close above 23,000 came just 54 trading days after the Dow hit 22,000 on Aug. 2. That’s roughly half the time it took the index to ...

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CMHC sizes up worst-case scenarios for housing market and comes out unscathed

The Canada Mortgage and Housing Corporation has crunched numbers on the assumption that the economy could get rocked by any number of different calamities and come to the same conclusion: the corporation itself would be all right. CMHC, which holds the vast majority of Canadian mortgages on its books via underwritten insurance policies, has published the results of its latest ...

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Delta says it did not play a role in Airbus-Bombardier deal

Delta Air Lines Inc.’s chief executive on Wednesday said the carrier did not play a role in pushing an industry-changing deal between planemakers Airbus and Bombardier Inc., as a regulatory spat between the United States and Canada threatened the future of a Bombardier plane program. Delta CEO Ed Bastian praised the deal between Europe’s Airbus and Canada’s Bombardier, which would ...

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EU air safety body urges halt on use of Kobe Steel products

The European Aviation Safety Agency has recommended that companies suspend use of Kobe Steel products when possible. The recommendation on the agency’s website follows the company’s admission that it has faked inspections data on products sold to hundreds of companies. The agency said companies should thoroughly review their supply chains to identify “suspected unapproved parts” from Kobe Steel that they ...

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Amazon would save $1.5B a year in salaries if new HQ in Toronto: Ed Clark

New Cities have Thursday deadline to apply to host tech giant’s planned 2nd headquarters The Canadian Press Posted: Oct 18, 2017 10:29 AM ET Last Updated: Oct 18, 2017 10:32 AM ET Related Stories The man heading up Ontario’s bid to lure Amazon to the province says the tech giant would save $1.5 billion a year in lower salaries for ...

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George Soros donates majority of his fortune to charity

Investor George Soros has transferred about $18 billion, the majority of his estimated fortune, to his Open Society Foundations, making them the second largest philanthropic grant-making group in the United States, according to media reports on Tuesday. The foundations already controlled billions of dollars, but Soros, 87, has in recent years increased the pace of transfers from his hedge fund-turned-family ...

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Airport employees fired over infamous David Dao incident on United flight

The Chicago Department of Aviation has fired two security officers involved in an incident during which a passenger was dragged off a United Airlines flight after refusing to give up his seat, the city’s Office of Inspector General says in a report. One of the fired officers, a sergeant, also was part of an attempt to cover up some details of ...

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Facebook buys teen-focused app TBH

New 5 million downloads since app launched in August The Associated Press Posted: Oct 18, 2017 8:40 AM ET Last Updated: Oct 18, 2017 8:40 AM ET Facebook has bought TBH, a teen-focused app that lets people give anonymous compliments to each other through polls and messages. Facebook on Tuesday confirmed the purchase, announced on TBH’s blog, but did not ...

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