business

NL to See Increase in COVID Cases with Emergence of New Variant: Fitzgerald

The incidence of COVID-19 in Newfoundland and Labrador is expected to spike and with the emergence of the new BA-5 sub-variant of Omicron, Chief Medical Officer of Health Dr. Janice Fitzgerald says hospitalizations are expected to increase as well. Four new deaths are being reported today, with three hospitalizations and 68 new confirmed cases. …

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Bank of Canada hikes interest rate to 2.5% — biggest jump since 1998

The Bank of Canada has raised its benchmark interest rate by the largest amount in more than 20 years, sharply increasing the cost of borrowing in an attempt to rein in runaway inflation. Canada’s central bank raised its benchmark interest rate Wednesday by a full percentage point to 2.5 per cent. That’s the biggest one-time …

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Why utility stocks, which normally suffer during rate hikes, are some of the TSX’s top performers

Hydro One Ltd. is on a tear.Darren Calabrese/The Canadian Press The conventional wisdom is that when interest rates go up, utility stocks go down, but with the Bank of Canada continuing an aggressive tightening campaign – one that is expected to produce a jumbo hike on Wednesday – there’s a twist to the narrative. Unlike …

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MPI requesting rate decrease for private vehicles, increase for motorcycles, commercial class

Most drivers in Manitoba can expect a discount on their auto insurance, although some classes of vehicles will see their rates increase, Manitoba Public Insurance announced Monday. MPI is seeking an average rate decrease of 0.9 per cent in this year’s filing with the Public Utilities Board. “By ensuring sufficient capital, we’re able to absorb …

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First Look: American Classic Re-Enters MTB with Sub-$50 Tire Lineup

After a successful 35 years in the industry and a three-year hiatus, American Classic returned to the bike world last fall with a new lineup of gravel and road offerings, and today announced its re-entry into mountain biking with a lineup costing between $45 and $50 USD. With four tread patterns and three constructions, the …

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