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Winnipeg Free Press - PRINT EDITION
Business Watch
Salaries projected to rise 2.7%
SALARIES in Manitoba are expected to go up by about 2.7 per cent in 2013, just slightly less than the national average of 2.9 per cent, according to the Hay Group's 2013 salary survey.
The projected increase is slightly more than forecast for 2012. Resource-rich provinces Alberta, Newfoundland and Saskatchewan lead in predicted salary gains.
The 2.7 per cent projected average salary increase in Manitoba is up from 0.2 per cent for 2012. Hay Group is projecting average salary increases in Winnipeg also at 2.7 per cent.
Facebook stock bounces back
NEW YORK -- Facebook's beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.
Facebook Inc. hit a new low of $18.75 before bouncing back to $20.01 by the time the stock market closed. That's up 96 cents, or five per cent, for the day.
The social networking icon's much-anticipated IPO turned sour amid technical problems on the Nasdaq stock market and high expectations. The stock has not surpassed its $38 IPO price since its first trading day.
RBC raises mortgage rates
TORONTO -- RBC Royal Bank (TSX:RY) is raising two of its mortgage rates by one-fifth of a point each, starting Tuesday.
RBC's posted rate for a three-year, fixed-rate mortgage will go up 0.2 percentage point to 4.05 per cent.
Meanwhile, an RBC special-offer rate for five-year closed mortgages rises to 3.69 per cent.
Nova Scotia funds idled mill
HALIFAX -- The government of Nova Scotia has announced a $124.5-million funding package in efforts to help resume operations at the idle NewPage Port Hawkesbury paper mill this fall.
Premier Darrell Dexter made the announcement Monday, saying the funding would help the mill's prospective buyer, Pacific West Commercial Corp., turn the facility's fortunes around.
-- from the news services
Republished from the Winnipeg Free Press print edition August 21, 2012 B7
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