Retail sales decreased 0.1% in February after a 0.3% contraction in January, Statistics Canada said, adding a preliminary estimate showed that sales were likely to remain unchanged in March. Two back-to-back months of a fall in retail sales reflects the continued strain on the economy from high interest rates. Analysts polled by Reuters had forecast a 0.1% rise in retail sales in February.
TORONTO — Rogers Communications Inc. reported a first-quarter profit of $256 million, down from $511 million a year ago, as it faced higher depreciation and amortization costs related to its acquisition of Shaw Communications and higher finance costs. The company says the profit amounted to 46 cents per diluted share for the quarter ended March 31, down from $1.00 per diluted share in the same quarter last year. Revenue totalled $4.90 billion, up from $3.84 billion a year earlier, helped by grow
OTTAWA — Statistics Canada says retail sales fell 0.1 per cent to $66.7 billion in February, weighed down by lower sales at gasoline stations and fuel vendors. The agency says sales at gasoline stations and fuel vendors fell 2.2 per cent in February, while sales at motor vehicle and parts dealers gained 0.5 per cent. Core retail sales — which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers — were unchanged in February. Sales at general merchandise retailers rose 1.
The Biden administration issued final rules Wednesday to require airlines to automatically issue cash refunds for things like delayed flights and to better disclose fees for baggage or canceling a reservation. The Transportation Department said airlines will be required to provide automatic cash refunds within a few days for canceled flights and “significant” delays. Under current regulations, airlines decide how long a delay must last before triggering refunds. The administration is removing th
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