Business and Economy

Spring Cleaning Tips to Refresh Your Finances

  Wikipedia photo There’s something about the change of season that gets people in the mood to clean, purge and organize. It’s not just our homes that need a good scrubbing, however. According to data from the Federal Reserve, U.S. Census Bureau and Internal Revenue Service: The average household has over $7,000 in credit card …

In a sign of growing economic ties, China allows direct currency trading with New Zealand

WELLINGTON, New Zealand—In another sign of growing economic ties, China on Wednesday allowed its currency to be directly traded with New Zealand’s. New Zealand Prime Minister John Key announced the start of trading during a trip to China. Previously, a company that needed to trade New Zealand dollars for Chinese yuan in China had to …

Stocks rise, Russia downplays fears of further takeover of other Ukraine regions

TORONTO – The Toronto stock market put in a solid gain late-morning Tuesday amid lessening anxiety over the Crimea crisis after Russian president Vladimir Putin said his country doesn’t want to annex more of Ukraine. He made the comment as he signed a bill to annex Crimea, two days after the territory’s residents, many of …

Commercial drones take off around the globe, but are grounded in the US for now by government

  WASHINGTON – The U.S. government bars commercial use of drones, no matter how seemingly benign. But already, photographers, real estate agents, moviemakers and others are hurrying to embrace the technology. The use of commercial drones is starting to spread to countries where authorities have decided the aircraft presents little threat if operators follow a …

Applications for US unemployment benefits fell last week to 3 month low of 315,000

WASHINGTON—The number of people seeking U.S. unemployment benefits dropped 9,000 last week to a seasonally adjusted 315,000, a sign the job market is picking up after a winter slump. The Labor Department said Thursday that the four-week average of applications, a less volatile figure, decreased 6,250 to 330,500, the lowest since early December. Applications are …

Toronto stock market to open little changed amid continuing China growth worries

TORONTO—The Toronto stock market looked set to start the session little changed as disappointing industrial production data added to China growth concerns that have pressured markets all week. The Canadian dollar rose 0.33 of a cent to 90.29 cents US. New York futures advanced as the Dow Jones industrial futures gained 22 points to 16,361, …

Top 4 airlines blame storms for 75,000 cancelled flights, but travel demand looks sunny

DALLAS – Airlines are still tallying up the damage from this winter’s storms, but solid demand for travel means they are likely to weather the rocky start to 2014 in good shape. Reports from some of the airlines point to higher average prices, and executives say spring bookings look strong. This has been the worst …

Asian stocks tumble on weak China trade, lower estimate of Japan growth

MANILA, Philippines – Asian stock markets sank Monday, battered by weak Chinese trade and a reduced estimate for Japan’s economic growth. Shares in Malaysia Airlines tumbled on news of the weekend disappearance of one its jets en route to Beijing. Japan’s Nikkei 225 fell 1.1 per cent to 15,111.92 and China’s Shanghai Composite slid 1.7 …

Asia stocks gain on China economic reform prospects, another Wall Street high

MUMBAI, India—Asian stocks mostly rose Friday, buoyed by a third all-time high on a key Wall Street index this week and signs that China will follow up on pledges to further open the world’s No. 2 economy, Japan’s Nikkei 225 stock average added 0.4 per cent to 15,201.57 and South Korea’s Kospi gained 0.65 point …

Feds add to oil train testing requirements after spate of accidents in US, Canada

BILLINGS, Mon. – Federal regulators are further tightening testing requirements for companies that transport oil by rail after a spate of explosions caused by crude train derailments in the U.S. and Canada. Thursday’s action from the U.S. Department of Transportation builds on a Feb. 25 order that targeted oil shipments for more stringent testing. Testing …