Tag: business news stories

American companies are draining their cash at the dumbest possible time

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New York
CNN
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Companies are sitting on a lot less cash than they were last year, in part because they’re spending it on share buybacks and corporate dividends.

While shareholders may be chuffed by that news, the slumping economy, surging interest rates and a credit crunch may mean US firms come to regret reducing their cash buffers.

The largest companies

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Is Taylor Swift saving the economy?

The economy is slowing down. Rising interest rates and stubbornly high inflation are squeezing indebted households. And just about every forecast is warning that a recession is looming.

But there is one bright spot — one place where the flashing red lights are shrugged off by an army of consumers perfectly content to spend generously: Taylor Swift’s Eras Tour.

“Taylor Swift is a real representative, along with the Eras Tour, of the huge consumer spending power that still exists out there,” economist Brett House said.

The professor of professional practice in economics at Columbia Business School in New York, who

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Irving Oil considers the sale of the company as part of a strategic review

Irving Oil says it has launched a strategic review that will consider, among other things, “a full or partial sale” of the company, one of the largest in New Brunswick.

“A strategic review of the company is underway, and a series of options are being evaluated related to the company’s future,” the Saint John-based company said in a statement.

“No decisions have been made about where this strategic review may lead. Considerations will be given to a new ownership structure, a full or partial sale, or a change in the portfolio of our assets and how we operate them.”

The

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Can You Prevent a Whistleblower Lawsuit?

When a whistleblower suit is brought against a company or practice, there are usually many warnings that were ignored or not dealt with appropriately. Many times, wrongdoings are brought to light internally first and properly addressing concerns can prevent a lawsuit.

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Often, the employee who becomes the whistleblower tries to raise the issue internally before going outside the company.

There are also fears of retaliation by many whistleblowers. Fear of

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Canada’s economy grew by more than expected in the first quarter, upping the odds of the rate hike next week

The Canadian economy grew at an annualized rate of 3.1 per cent in the first quarter of 2023, Statistics Canada reported Wednesday.

The latest data shows growth beating out the federal agency’s own forecast of 2.5 per cent for the quarter. A preliminary estimate suggests the economy grew by 0.2 per cent in April, after remaining flat in March.

The ongoing resilience in the economy will likely spur discussions of a potential rate hike, as the Bank of Canada is expected to make its next interest rate announcement next week.

The relatively strong GDP showing investors had increasing the odds

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Toronto housing market sees biggest price gain since peak

The spring surge in Toronto house prices accelerated again in May, providing another sign of persistent inflation in parts of the Canadian economy before a key central bank interest rate decision next week.

The benchmark price of a home in Canada’s largest city increased 3.2 per cent last month to $1.14 million on a seasonally adjusted basis, the third straight monthly increase and the biggest since the market peaked in February 2022, according to data released Friday from the Toronto Regional Real Estate Board.

The average selling price, at $1,196,101, fell 1.2 per cent

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How Can You Protect Your Children?

Many of our estate planning clients have children and want to protect their children.

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While concerns vary, protecting children is a huge part of estate planning.

When parents have minor children, estate planning is essential. It allows parents to pick guardians for their children. This will ensure that they have peace of mind knowing who will care for their minor children.

This will also prevent court fights over guardianship.

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Morning Business Report: There is a new debt ceiling agreement, now lawmakers must decide if they support it – 41NBC News

A deal proposed to lift the federal debt limit would have only a small cooling effect on the US economy and high inflation, according to economists. It does little to reduce government spending that grew rapidly during the Covid-19 pandemic and its aftermath. There’s one particular component of the deal that could ding the economy this fall. Student loan repayments and interest accruals will restart by the end of August.

The Denver Nuggets are in the NBA finals for the first time in franchise history. The Denver Nuggets will face off with the Miami Meat for the NBA championship. The

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