Canada Jobless Rate Hits 3-Year High to 7.3 Percent
Montreal — Canada’s unemployment rate posted a surprise increase last month as the nation continues to struggle with the impact of lower oil prices. The unemployment rate climbed to 7.3 percent in February, the highest since March 2013, following a 7.2 percent rate a month earlier and up from as low 6.6 percent last year, Statistics Canada said Friday from Ottawa. Employers eliminated a net 2,300 jobs, including more than 50,000...
S&P 500, Dow Erase Early-Year Losses
U.S. stocks rose, with the Standard & Poor’s 500 index turning positive for 2016 in the wake of a dovish Federal Reserve that helped the gauge post its longest weekly winning streak since November. The equity benchmark joined the Dow Jones Industrial Average to advance for the year, staging one of the biggest turnarounds in history. The Dow surged 12 percent in 24 days through Thursday, boosted by seven separate daily advances...
Mercedes Has Growth Challenges
Mercedes-Benz is completing a decade-long rejuvenation with the new E-Class sedan this month, capping an unprecedented flurry of fresh models that have brought rapid expansion but will make future growth tougher to deliver. The overhaul of Mercedes’ bread-and-better business sedan marks the last major model to get a technology and design upgrade until the next-generation A-Class hatchback rolls out in 2018. By that time, Mercedes will...
Jobs Numbers Help to Dispel Recession Fear
Washington — A robust February jobs report showcased a resilient U.S. economy just as fears of a new recession had begun to surface. Economic reports in recent weeks had fueled anxieties about a looming downturn: Manufacturers were slumping. Stocks had plummeted. China was slowing sharply along with other emerging markets. The rising dollar had crushed exports. But last month, U.S. employers sent a clear message of confidence. They...
Dollar Up, Treasuries Fall On U.S. Economic Expansion
Global equities pared gains, the dollar rallied and Treasuries fell after reports showed the Federal Reserve’s preferred measure of inflation rose and the pace of U.S. economic expansion exceeded forecasts. The Standard & Poor’s 500 index trimmed a second weekly increase, after the benchmark fluctuated throughout Friday. The dollar strengthened for a third day versus the yen, while yields on 10-year Treasury notes topped 1.75...
