Canada's main stock index rose to a nine-month high on Thursday as declines in energy stocks were offset by gains in major technology and mining players, while a U.S. market holiday kept trading volumes low.
Canada's economy could rebound faster than expected if consumer spending jumps in the wake of a successful coronavirus vaccination effort, Bank of Canada Governor Tiff Macklem said on Thursday. On the other hand, if the economy weakens amid a second wave of infections, Macklem indicated the central bank could if necessary cut already record low interest rates.
The recent news about coronavirus vaccines is promising although cases are continuing to increase, Bank of Canada Governor Tiff Macklem told the House of Commons finance committee on Thursday. In late October, the bank said it assumed a vaccine would not be widely available until mid-2022.
The Canadian dollar edged lower
against the greenback on Thursday as the rally in oil lost some
momentum, but the currency held near a two-week high it notched
the day before.
The price of ...
Walt Disney Co. (DIS) plans to lay off a total of 32,000 employees by March, the company said, a further reduction in its workforce that comes as the pandemic hits the entertainment company's theme-park businesses especially hard. The number of layoffs is about 4,000 more employees than the previously reported 28,000 job cuts announced in September. Most of the job losses will come in the company's theme-park ranks, where thousands of workers have already been furloughed or laid off.
Brazil's Treasury Secretary Bruno Funchal said on Thursday that there is no rift between the central bank and economy ministry, a day after Economy Minister Paulo Guedes hit back at criticism that the economic team lacks a clear fiscal strategy. "There is no divergence. "The aims are economic growth and creating jobs.
Brazil's treasury has a liquidity buffer that is "more than prudent", and is prepared for the heavy schedule of debt refinancing that awaits next year, treasury secretary Bruno Funchal said on Thursday.
Walt Disney Co. (DIS) plans to lay off a total of 32,000 employees by March, the company said, a further reduction in its workforce that comes as the pandemic hits the entertainment company's theme-park businesses especially hard. The number of layoffs is about 4,000 more employees than the previously reported 28,000 job cuts announced in September. Most of the job losses will come in the company's theme-park ranks, where thousands of workers have already been furloughed or laid off.
* Euro zone finance ministers meet next Monday. * Hope to agree changes to boost euro zone resilience. * COVID crisis has helped to focus minds on reforms. By Jan Strupczewski.
Brazil's real ticked higher on Thursday
after encouraging comments from the central bank president,
while most other Latin American units edged lower as optimism
over a coronavirus vaccine waned.
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