Economy

Economy · 6 d ago

Jeangagnon · CC BY-SA 4.0 · Wikimedia Commons

Bank of Canada raises its key rate to 2.5 per cent and says another hike is possible

5 pages

The Bank of Canada raised its key rate by 25 basis points to 2.5 per cent on Wednesday, its first increase since July 2023.

Economy · 6 d ago

Jonathan Schilling · CC BY-SA 4.0 · Wikimedia Commons

Microsoft reports record quarterly revenue of US$92.3 billion, led by Azure

5 pages

Azure brought in US$33.2 billion in the July–September quarter, up 48 per cent from a year earlier. Microsoft had never before disclosed the figure in dollars.

Economy · 6 d ago

The state accuses the platform and its executives of illegally promoting online gambling. CEO Tarek Mansour and chief operating officer Luana Lopes Lara are charged with it.

Economy · 6 d ago

Wealthsimple raises $425M at a $13.8B valuation

5 pages

The Toronto fintech is now valued at $13.8 billion, up 38 per cent from $10 billion a year ago.

Economy · 6 d ago

Doug Ford calls the Bank of Canada's rate hike "a massive mistake" as the housing outlook turns subdued

4 pages

“Higher rates won’t get oil moving through the Strait of Hormuz or lower tariffs on Canadian businesses. They will only make life more expensive for Canadian families and workers.”

Economy · 6 d ago

US Federal Reserve holds rates at about 3.9 per cent despite elevated inflation

4 pages

US consumer prices rose 3.7 per cent in September from a year earlier, up from 2.4 per cent in February, just before the Iran war.

Economy · 6 d ago

Matti Blume · CC BY-SA 4.0 · Wikimedia Commons

Bombardier and BAE Systems sign a deal to explore work on future combat aircraft

4 pages

Under a memorandum of understanding, the two companies will assess opportunities in these areas.

Economy · 6 d ago

Star Entertainment is fined 260 million Australian dollars for money-laundering breaches

5 pages

Justice Cameron Moore set the fine at 260 million Australian dollars, to be paid in four instalments over 19 months.