Business

HONG KONG: Banking giant HSBC said on Tuesday that Chief Executive Officer (CEO) Noel Quinn would retire after overseeing a “successful transformation” of the firm and record profits during almost five years in charge. The surprise news came as the lender reported that pretax profits in the first quarter fell …

The Canadian economy grew 0.2 per cent in February, with gains made in transportation and warehousing, Statistics Canada said on Tuesday. January growth was helped by rebound after public sector strike ended in Quebec. The Canadian economy grew a modest 0.2 per cent in February, with early estimates for March …

As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. Now, with the official opening of the Trans Mountain pipeline expansion just days away, those who live and work here hope their fortunes are once again headed …

All London Drugs stores remained closed across Western Canada on Tuesday morning, two days after the B.C.-based company announced it was dealing with a “cybersecurity incident.” No timeline for reopening after abrupt closure on Sunday of more than 80 stores across Western Canada. All London Drugs stores remained closed across …

With pay transparency laws now in effect in B.C. and passed in P.E.I., Newfoundland and Ontario, companies are called upon to include salary ranges with job postings. But advocates say some employers post such wide pay ranges it counteracts the spirit of legislation designed to help close the pay gap.  …

Retail and pharmacy chain London Drugs says it was the “victim of a cybersecurity incident” Sunday and has shuttered its stores across western Canada until further notice.  Retailer operates nearly 80 stores across B.C., Alberta, Saskatchewan and Manitoba. Cyberattack closes all London Drugs stores All 79 London Drugs locations in …

Federal efforts to bring “open banking” to Canada are being welcomed by players in the industry — but there’s also criticism that, after years of waiting, any changes may not come fast enough to encourage innovation or allow smaller financial players compete with larger institutions.  ‘WTF is going on, Canada?’ …

NEW YORK CITY: JPMorgan Chase Chief Executive Officer Jamie Dimon said he’s hopeful the US Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In an interview with The Associated Press at a Chase branch opening in The Bronx, …

(File photo) MANILA – An oil price rollback on Tuesday will snap the six straight weeks of increase in gasoline prices. This as Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil and Shell announced Monday that they will cut gasoline prices by PHP0.25 per liter and another PHP0.45 per liter on diesel prices. …

Canada’s biofuel industry is welcoming a proposed multi-billion dollar package of financial support from the federal government, although concerns remain about whether it will be enough to compete with lucrative subsidies south of the border and reverse the growing dependence on U.S. imports to meet clean fuel regulations. New funding …