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Energy and metals weigh on TSX as Wall St. pulls back, loonie slides lower
– canadianbusiness.com
TORONTO _ Canada’s main stock index fell moderately today, as Wall Street pulled back from the record highs it set yesterday.
The S&P/TSX composite index was down 42.23 points to 16,284.47, as the base metals, gold and energy sectors lost ground.
In New York, the Dow Jones industrial average tumbled 97.84 points to 26,017.81. The S&P 500 index inched down 4.53 points to 2,798.03 and the Nasdaq composite index edged back 2.23 points to 7,296.05.
The Canadian dollar closed at an average value of 80.35 cents US, down 0.13 of a U.S. cent.
The March crude contract gave back three cents to US$63.89 per barrel and the February natural gas contract was down four cents to US$3.19 per mmBTU.
The February gold contract fell US$12.00 to US$1,327.20 an ounce and the March copper contract was up one cent to US$3.20 a pound.
The post Energy and metals weigh on TSX as Wall St. pulls back, loonie slides lower appeared first on Canadian Business – Your Source For Business News.
The S&P/TSX composite index was down 42.23 points to 16,284.47, as the base metals, gold and energy sectors lost ground.
In New York, the Dow Jones industrial average tumbled 97.84 points to 26,017.81. The S&P 500 index inched down 4.53 points to 2,798.03 and the Nasdaq composite index edged back 2.23 points to 7,296.05.
The Canadian dollar closed at an average value of 80.35 cents US, down 0.13 of a U.S. cent.
The March crude contract gave back three cents to US$63.89 per barrel and the February natural gas contract was down four cents to US$3.19 per mmBTU.
The February gold contract fell US$12.00 to US$1,327.20 an ounce and the March copper contract was up one cent to US$3.20 a pound.
The post Energy and metals weigh on TSX as Wall St. pulls back, loonie slides lower appeared first on Canadian Business – Your Source For Business News.
Feds bolster BDC’s ability to provide more capital to clean tech companies
– canadianbusiness.com
OTTAWA _ The federal government will give $700 million over the next five years to the Business Development Bank of Canada in a bid to grow Canada’s clean technology industry.
The funding is intended to enable the bank to take on more risk, providing high-potential clean tech firms with more capital to expand their operations and hire additional staff.
The investment will be announced today in Montreal by Innovation Minister Navdeep Bains and Environment Minister Catherine McKenna.
The money is part of the government’s promise, made in last year’s budget, to invest $2.3 billion in clean technologies.
Bains is also set to announce the launch of a federal government “clean growth hub,” aimed at supporting clean tech companies and projects, co-ordinating existing programs and tracking results.
The government argues that investment in clean tech is good for both the environment and the economy.
“Today’s announcement demonstrates our government’s commitment to create well-paying, middle-class jobs while growing the economy and protecting the environment,” Bains said in a news release obtained in advance by The Canadian Press…
The funding is intended to enable the bank to take on more risk, providing high-potential clean tech firms with more capital to expand their operations and hire additional staff.
The investment will be announced today in Montreal by Innovation Minister Navdeep Bains and Environment Minister Catherine McKenna.
The money is part of the government’s promise, made in last year’s budget, to invest $2.3 billion in clean technologies.
Bains is also set to announce the launch of a federal government “clean growth hub,” aimed at supporting clean tech companies and projects, co-ordinating existing programs and tracking results.
The government argues that investment in clean tech is good for both the environment and the economy.
“Today’s announcement demonstrates our government’s commitment to create well-paying, middle-class jobs while growing the economy and protecting the environment,” Bains said in a news release obtained in advance by The Canadian Press…
