Here are the CP Business Department's plans for today and the top business stories so far. All times Eastern unless otherwise stated. All ETAs and wordcounts approximate. Entries are subject to change as news develops.
If you have any questions, please contact Kate Hopwood at 416-507-2151 or kate.hopwood@thecanadianpress.com. You can always reach the desk at business@thecanadianpress.com.
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COVERING:
Brett Bundale will have one more update to Food-Inflation, which will close out our inflation file for the day (unless overtaken by events).
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TOP STORIES:
Inflation rate tops to 5.1%, outpacing wage growth
StatCan-Inflation
Ottawa -- The purchasing power of Canadians waned further last month as wages were outpaced by an annual inflation rate that topped five per cent for the first time in more than 30 years. By Jordan Press. Words: 703, Photos: 1
--With StatCan-Inflation-Provinces and Stat-Can-Inflation-Cities QuickLists
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Grocery bills climb as food inflation hits 6.5%
Food-Inflation
Food prices in Canada are soaring as higher input costs, shipping fees and wages push the food inflation rate to 6.5 per cent — the biggest year-over-year jump in grocery bills in more than a decade. By Brett Bundale. Words: 469, Photos: 1
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What-flation? A primer on inflation-adjacent words
StatCan-Inflation-Glossary
Toronto -- After holding off on an interest rate increase last month, the stage is set for the Bank of Canada to hike in March after the annual inflation rate topped five per cent for the first time in more than 30 years, with prices rising for everything from groceries and gasoline to rental costs and home prices. By Adena Ali. Words: 374
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Banking industry says will implement orders
Trucker-Protest-Banks
Toronto -- Canada's banking industry says it will follow through with the federal government's emergency orders targeting the trucker protesters as discussions on how best to implement them continue. By Ian Bickis. Words: 370, Photos: 1
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Towing industry concerned for safety and business after Emergencies Act issued
Trucker-Protest-Towing
Two associations representing the towing industry in Ontario and Alberta say expecting operators to clear blockades under the Emergencies Act is easier said than done. By Fakiha Baig. Words: 564. Moves National.
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Barrick hikes dividend despite lower 2021 profit
Barrick-Gold-Rslts
Barrick Gold Corp. is scouting for new exploration opportunities in Asia as part of an ongoing push into prospective territories, the Toronto-based mining company said Wednesday. By Amanda Stephenson. Words: 455, Photos: 1
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Shopify lowers 2022 revenue growth guidance
Shopify-Rslts
Shopify Inc.'s stock plummeted to the lowest level in nearly two years Wednesday after the e-commerce giant warned that its revenue growth will slow this year as the globe eases up on restrictions meant to quell the COVID-19 pandemic. By Tara Deschamps. Words: 746, Photos: 1
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Canadians want more from corporate leaders: survey
Edelman-Trust-Survey
Toronto -- Canadians do not believe businesses are doing enough to address the societal challenges of our time and want more engagement from their business leaders, a new survey has found. By Adena Ali. Words: 347, Photos: 1
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Alternatives exist for Line 5, report argues
US-Cda-Pipelines
Viable alternatives to Line 5 already exist if the controversial cross-border pipeline gets shut down, says a new report from an Canadian environmental group looking to bridge the ideological gulf in the public debate over North America's continuing dependence on fossil fuels. By James McCarten. Words:1,024. Photos: 1, Graphics: 1. Moves National.
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Manufacturing sales up 0.7% in December
StatCan-Manufacturing
Ottawa -- Statistics Canada says manufacturing sales rose 0.7 per cent in December to $64.0 billion, led by a gain in sales of plastic and rubber, motor vehicles and fabricated metal, as well as wood product industries. Words: 142, Photos: 1
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Wholesale sales up 0.6% in December
StatCan-Wholesale-Sales
Ottawa -- Statistics Canada says wholesale sales rose for a fifth consecutive month in December, helped by gains in the auto sector. Words: 125, Photos: 1
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S&P/TSX composite down more than 100 points
Dollar-Markets
Toronto -- Canada's main stock index fell more than 100 points in late-morning trading, weighed down by the technology sector as shares of Shopify Inc. fell 18 per cent after the company warned its revenue growth will slow this year. Words: 165, Photos: 1
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CP BUSINESS
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