Richard Dettman
NEWS 1130
Vancouver, BC, Canada
Contact Richard
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Past articles by Richard:
Stocks surge as Biden transition begins in U.S.
The Dow Jones Industrial Average topped 30,000 for the first time after the Trump administration ended weeks of delaying the traditional post-election transition process → Read More
Canada's auto shows have been cancelled
The COVID-19 pandemic has hit Canada's largest auto show hard with health concerns and a lack of automakers' participation. → Read More
Canada's inflation rate rises in October
The Consumer Price Index rose 0.7 per cent in October from a year earlier, after a 0.5 per cent increase in September, Statistics Canada says. The rise was led by food prices. Excluding gasoline, the CPI rose 1 per cent. Gas was down 12.4 per cent in October year-over-year. Richard Dettman will have more in Business at :26 and :56. More to come. → Read More
October job gain slows from September but tops estimates
The economy added 83,600 jobs last month, topping estimates for 75,000. An increase in full-time work led the way. A slowdown from September’s gain of 378,000 was expected. The unemployment rate fell a tenth of a point to 8.9 per cent. Richard Dettman will have more in Business at :26 and :56. More to come. → Read More
Wall Street surges despite U.S. election uncertainty
U.S. stock indices had their biggest gain in five months as traders bought shares of companies that might benefit from a Republican-controlled Senate. Tech shares led the way, with the NASDAQ gaining 3.8%. The Dow was up 1.3% and the S&P 500 rose 2.2%. More in NEWS 1130 Business at :26 and:56 past each hour. More to come. → Read More
Canada's economy grew 1.2 per cent in August: Statistics Canada
The economy continues to recover from the bleakest days of the pandemic, but the pace has slowed. According to Statistics Canada, the gross domestic product grew by 1.2 per cent in August from July, which gained a revised 3.1 per cent. The agency’s estimate for September’s GDP growth is 0.7 per cent. Canada's economy grew … → Read More
Le Chateau going out of business due to COVID-19 impacts
The Montreal-based retailer will be closing 123 stores and cutting 1,400 employees who work in stores and at the companies head office. Le Chateau will be liquidating its merchandise. Le Chateau says it will go out of business, closing 123 stores, cutting 1,400 employees (900 in stores, 500 at head office in Montreal) and liquidating … → Read More
Job creation surges, unemployment rate falls
OTTAWA (NEWS 1130) – Canada added 378,200 jobs in September, more than double what had been estimated. The unemployment rate fell to 9 per cent from 10.2 per cent in August, beating expectations for a rate of 9.8 per cent. Richard Dettman will have more in Business at :26 and :56. More to come. → Read More
Economy grew 3.0 per cent in July, Statistics Canada says
OTTAWA (NEWS 1130) – Canada’s economy grew 3 per cent in July from June, a tenth of a point above estimates, after June’s gain of 6.5 per cent. Statistics Canada’s preliminary estimate for August is a 1 per cent increase in gross domestic product. July GDP was down 5 per cent year over year, and … → Read More
Bank of Canada sees 'slow and choppy' recovery
The Bank of Canada has left its key interest rate at 0.25 per cent, saying “The Bank continues to expect this strong reopening phase to be followed by a protracted and uneven recuperation phase, which will be heavily reliant on policy support.” Richard Dettman will have more in Business at :26 and :56. More to come. → Read More
Canada adds 246,000 jobs in August, unemployment rate now 10.2%
Canada's economy added 245,800 jobs in August, Statistics Canada says. The unemployment rate fell 7-10ths of a point to 10.2 per cent. → Read More
Coronavirus causes record drop in Canadian economy
Canada's economy contracted at an annualized rate of 38.7 per cent in the April-to-June period, with the GDP down 11.5 per cent in the second quarter compared to the first. → Read More
July job creation beats estimates as more businesses reopen amid COVID
Canada's labour market gained 418,500 jobs last month as more parts of the economy were allowed to reopen, according to Statistics Canada. → Read More
GDP worst showing since 2009 in first quarter: Stats Canada
OTTAWA (NEWS 1130) — Statistics Canada says the gross domestic product dropped 2.1 per cent in the first quarter because of the COVID-19 pandemic. The GDP fell at an annualized rate of 8.2 per cent versus an estimated 10 per cent. More to come. → Read More
March sees record drop in retail sales
Retail sales fell for the first time in five months, plunging a record 10 per cent to $47.1 billion in March from February as COVID-19 shutdowns spread. Statistics Canada is providing a preliminary estimate that sales in April fell 15.6 per cent. The agency says Vancouver-area retail sales fell five per cent. Richard Dettman will have more in Business at :26 and :56. More to come. → Read More
GDP essentially unchanged in February
Statistics Canada says after three months of growth, the country’s real gross domestic product was essentially unchanged in February. Without declines, particularly in educational services and disruptions in the transportation and warehousing sector, the agency says the economy would have grown 0.2 per cent. Richard Dettman will have more in Business at :26 and :56. → Read More
Another forecast predicts sharp drop in B.C., national economies before rebound
The pandemic is predicted to take a bigger bite out of B.C.'s economy than the recession of the early 1980s. → Read More
Bank of Canada maintains key interest rate at 0.25%
OTTAWA (NEWS 1130) – The Bank of Canada has left its key interest rate at 0.25 per cent. The Bank of Canada says its worst-case scenario is for the economy to shrink by as much as 30 per cent annualized in the second quarter. It’s also going to buy up to $50-billion of provincial bonds. … → Read More
All businesses, non-profits, charities eligible for fed wage subsidy increase, PM says
Businesses of any size, not just small and medium, as well as non-profits and charities will all be eligible to apply for the wage subsidy increase. → Read More
Stocks, dollar, oil sharply lower
The TSX closed Monday with its biggest loss since the October 1987 crash, down 1,661 points or 10.3 per cent. The Dow sank 7.7 per cent or 2,001 points. The loonie plunged 1.3 cents to $73.17 cents U.S. and oil futures dropped $10.26 cents, 24.8 per cent, to $31.00 U.S per barrel. The coronavirus-relates selloff … → Read More