Economy

Canadian engineering firm orders workers back to the office with 1-day notice: union

Christopher Reynolds, The Canadian Press Published Thursday, June 9, 2022 3:23PM EDT Last Updated Thursday, June 9, 2022 3:24PM EDT A union representing SNC-Lavalin Group Inc. engineers has filed a complaint with the national labor board alleging bad-faith bargaining after a subsidiary ordered workers back to the office full-time with one business day’s notice. On …

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Stocks fall sharply, Dow drops more than 600 points ahead of pivotal inflation data

Stocks fell sharply on Thursday ahead of a key inflation report as investors worried about the state of the US economy. The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&P 500 dropped 2.38% to settle at 4,017.82, and the Nasdaq Composite shed 2.75% to come in at 11,754.23. …

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Sriracha lovers burned as maker halts production due to pepper shortage | news

A looming Sriracha shortage has hot sauce lovers feeling fiery, after the maker of the popular condiment said it was suspending sales over the summer due to a shortage of chili peppers. Southern California-based Huy Fong Inc confirmed that its beloved products, including Sriracha Hot Chili Sauce, Chili Garlic and Sambal Oelek, would be affected, …

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Consumers changing eating, shopping clothes as inflation pushes up prices

A man shops for meat at a Safeway grocery store in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. jim watson | AFP | Getty Images The highest inflation in roughly 40 years is prompting people to shift their shopping clothes, especially at the grocery …

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US didn’t get any relief from high inflation in May – CPI to show another big gain

Wall Street is looking for a sign, any sign, that US inflation is coming off a rapid boil. But they are unlikely to find much cooling off in May’s report on consumer prices. The consumer price index is expected to show a large 0.7% increase when the report is released Friday morning β€” more than …

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Bank of Canada sounds alarm on economic risk of high household debt

With interest rates set to keep rising, the Bank of Canada is sounding the alarm on the risk record high house prices and an increasing number of households with high mortgage debt could have on the Canadian economy. β€œIn Canada, elevated levels of household debt and high house prices remain two key interconnected vulnerabilities,” the …

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