Zinya Salfiti Oil refinery Andrey Rudakov/Bloomberg Oil majors posted record profits for 2022, benefiting from the energy-market turmoil triggered by Russia’s invasion of Ukraine. US President Joe Biden thinks it’s ‘outrageous’, saying the firms invested too little of such profits to boost output. Exxon Mobil, Shell and TotalEnergies raked in the most profits among Western… Continue reading ExxonMobil, Shell lead Big Oil’s eye-watering $221 billion profit binge that Biden has slammed as ‘outrageous’
Half of Canadians who invest in TFSAs are doing it wrong — here’s what you should be doing
Watch Kelley Keehn on how tax free savings accounts are not being used to their full potential Kelley Keehn, founder of Money Wise Workplaces, explains how to make the most of your RRSP and TFSA investments. Photo by Getty Images Kelley Keehn, founder of Money Wise Workplaces, talks with Financial Post’s Larysa Harapyn about getting… Continue reading Half of Canadians who invest in TFSAs are doing it wrong — here’s what you should be doing
Mark Carney says a recession is coming, but interest rates won’t come down anytime soon
Central banks unlikely to cut rates this year, former Bank of Canada governor says Former Bank of Canada governor Mark Carney. Photo by Brendan Smialowski/AFP via Getty Images Mark Carney, the former Bank of Canada governor, said interest rates are unlikely to come down this year, countering Bay Street expectations that Canada’s central bank will… Continue reading Mark Carney says a recession is coming, but interest rates won’t come down anytime soon
Trafigura faces $577 million hit after shipments of nickel it bought did not contain the metal
Metals trading has been stung by fraud in recent years — everything from fake warehouse receipts to painted rocks Author of the article: Financial Times Harry Dempsey and David Sheppard Published Feb 09, 2023 • 3 minute read Join the conversation Nickel is the most highly valued base metal at US$29,000 per tonne compared with… Continue reading Trafigura faces $577 million hit after shipments of nickel it bought did not contain the metal
How concerns over the housing market factored into the Bank of Canada’s latest rate decision
Here are the key takeaways from inaugural summary revealing policymakers’ thinking Real estate signs in Winnipeg. Photo by Kevin King/Winnipeg Sun/Postmedia Network The Bank of Canada for the first time this week released a summary of Governing Council discussions that precede an interest rate decision, giving Canadians a glimpse of the process and a deeper… Continue reading How concerns over the housing market factored into the Bank of Canada’s latest rate decision
Posthaste: Single Canadians, don’t despair — here are 5 cities where you can afford your own home
Think the Prairies and Atlantic Canada Published Feb 09, 2023 • Last updated 2 days ago • 4 minute read 14 Comments Crews working on shingling a multi-unit housing complex in Regina, Saskatchewan. Photo by TROY FLEECE/Regina Leader-Post files Financial Post Top Stories Sign up to receive the daily top stories from the Financial Post, a… Continue reading Posthaste: Single Canadians, don’t despair — here are 5 cities where you can afford your own home
Stock Market Today: Nasdaq Drops as Lyft Stock Slides
It was a choppy day for trading as stocks struggled for direction following two straight down days. Investors are jittery ahead of next week’s release of the January consumer price index (CPI), particularly after last Friday’s shockingly strong jobs report and an unexpected upward revision to the December CPI. A round of disappointing earnings weighed… Continue reading Stock Market Today: Nasdaq Drops as Lyft Stock Slides
ChatGPT predicts US dollar dominance will give way to a multipolar currency system as China’s yuan gains influence
Insider asked OpenAI’s ChatGPT to weigh in on whether the US dollar or China’s yuan would be the world’s dominant currency in the future. The chatbot asserted that a “multipolar” system was likely, instead of a system dominated by one or two currencies. ChatGPT also noted the rise of both the euro and yuan in… Continue reading ChatGPT predicts US dollar dominance will give way to a multipolar currency system as China’s yuan gains influence
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