TSX flat as materials offsets another slump for energy... RBC cutting 450 jobs... Senate approves budget but no booze tax...
.jpg)
TSX flat as materials offsets another slump for energy
Oil prices continued falling Wednesday, ending the trading day down more than 2 per cent to a new 10-month low.
A 1.41 per cent drop for the energy sector was the largest drag on the main TSX index but 5 sector groups were lower including financials. The losses were offset by the gains for 5 sectors, led by materials which closed up 1.15 per cent.
Wall Street closed mixed with the Dow and S&P lower while it was a strong day for the Nasdaq. European and most Asian markets closed lower.
The S&P/TSX Composite Index closed down 1.07 (0.01 per cent)
The Dow Jones closed down 55.60 (0.26 per cent)
Oil is trending lower (Brent $44.72, WTI $42.47 at 4.05pm)
Gold is trending higher (1247.20 at 4.05pm)
The loonie is valued at U$0.7509
RBC cutting 450 jobs
RBC said Wednesday that 450 jobs were being lost at the bank, mainly in its Toronto head office.
Roles affected include both business and function roles and savings will help the bank to invest in new technology and to create the kind of workforce that it needs to meet the changing industry now and in the future.
The job losses are part of several personnel changes which will also mean promotion for some staff along with newly-created roles.
Senate approves budget but no booze tax
The escalator tax on alcohol has been removed from the final draft of the federal budget bill by the Senate.
The bill will now return to the commons where the amendments could either be accepted or it will head back to senators once more.
The matter has raised old arguments about areas that the Senate should and should not block. The prime minister has insisted that budget matters are a decision only for the elected house.
Oil prices continued falling Wednesday, ending the trading day down more than 2 per cent to a new 10-month low.
A 1.41 per cent drop for the energy sector was the largest drag on the main TSX index but 5 sector groups were lower including financials. The losses were offset by the gains for 5 sectors, led by materials which closed up 1.15 per cent.
Wall Street closed mixed with the Dow and S&P lower while it was a strong day for the Nasdaq. European and most Asian markets closed lower.
The S&P/TSX Composite Index closed down 1.07 (0.01 per cent)
The Dow Jones closed down 55.60 (0.26 per cent)
Oil is trending lower (Brent $44.72, WTI $42.47 at 4.05pm)
Gold is trending higher (1247.20 at 4.05pm)
The loonie is valued at U$0.7509
RBC cutting 450 jobs
RBC said Wednesday that 450 jobs were being lost at the bank, mainly in its Toronto head office.
Roles affected include both business and function roles and savings will help the bank to invest in new technology and to create the kind of workforce that it needs to meet the changing industry now and in the future.
The job losses are part of several personnel changes which will also mean promotion for some staff along with newly-created roles.
Senate approves budget but no booze tax
The escalator tax on alcohol has been removed from the final draft of the federal budget bill by the Senate.
The bill will now return to the commons where the amendments could either be accepted or it will head back to senators once more.
The matter has raised old arguments about areas that the Senate should and should not block. The prime minister has insisted that budget matters are a decision only for the elected house.
