Economy

Pope inspires young entrepreneurs to rebuild economy – CTV News

Published

4 years ago

November 21, 2020

VATICAN CITY —
Pope Francis urged young economists, entrepreneurs and business leaders Saturday to promote post-pandemic development models that involve the poor.

Francis, in a videotaped message for a forum of young people in Assisi, Italy, said the worst reaction once the coronavirus pandemic ends would be to “fall even more deeply into feverish consumerism and forms of selfish self-protection.”

Instead, Francis said, the poor should be invited to participate in discussions about creating a “different economic narrative” that he thinks is urgently needed.

Dear young people, the effects of our actions and decisions affect you personally. Therefore, you can’t remain outside the places that are shaping the present and future. You’re either part of them or history will pass you by. #FrancescoEconomy https://t.co/SozNfxjdu8

— Pope Francis (@Pontifex) November 21, 2020

The pope pressed young people to help change production systems and consumption patterns to make them more sustainable.

He said the future will be a “time that reminds us that we are not condemned to economic models whose immediate interest is limited to profit and promoting favourable public policies, unconcerned with their human, social and environmental cost.”

During the pandemic, Francis has decried that the people on society’s margins have been among those suffering the most during the health crisis.

In his message to the young people, Francis said more must be done than “meeting the most essential needs of our brothers and sisters. We need to accept structurally that the poor have sufficient dignity to sit at our meetings, participate in our discussions and bring bread to their own tables.”

Such an approach goes beyond welfare, Francis said.

“We are speaking of a conversion and transformation of our priorities and of the place of others in our policies and in the social order,” the pope said.

He says it’s time to shun economic models focused immediately on profit.

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

2 days ago

September 13, 2024

Anne Joseph

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

Statistics Canada reports wholesale sales higher in July

Published

2 days ago

September 13, 2024

Anne Joseph

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

3 days ago

September 12, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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