Tausi Insider

Canada Mortgage and Housing Corp. says the annual pace of housing starts slowed in October from its high for the year reached in September. The national housing agency says the seasonally adjusted annual rate of housing starts in October was 267,055 units, down 11 per cent from 298,811 units in September. The annual pace of urban starts was down 11 per cent at 245,234 units in October as multi-unit urban starts fell 13 per cent to 188,189 units. Urban starts of single-detached homes dropped four per cent to 57,045 units. CMHC says the annual pace of starts was down in Toronto and Vancouver, however Montreal posted an increase. Rural starts were estimated at a seasonally adjusted annual rate of 21,821. The six-month moving average of the monthly seasonally adjusted annual rate was 277,667 units in October, up 0.5 per cent from 276,374 in September. https://www.tausiinsider.com/annual-pace-of-housing-starts-in-canada-slowed-in-october/?feed_id=350691&_unique_id=648a5981c56e0

Apple Inc’s AAPL-Q iPhone 14 Pro and Pro Max model shipments could miss market expectations by up to 20 million units in the holiday quarter due to labor unrest at a major Chinese factory, TF Securities analyst Ming-Chi Kuo said. Kuo is the latest to flag a hit to the world’s most valuable company from protests over pay and strict COVID-19 curbs at the world’s biggest iPhone factory, the Foxconn-operated plant in the central city of Zhengzhou. He trimmed his estimate for quarterly iPhone shipments by about 20 per cent to between 70 million and 75 million units, compared with the market consensus of 80 million to 85 million units. Apple shares were trading down more than 2 per cent, set to add to the 6 per cent decline so far this month as worries grow over shipments in the all-important holiday sales season. Kuo, in a blog post on Tuesday, also predicted that the supply shortfall could erase demand for the more popular Pro models, instead of deferring sales, as consumers also grapple...

A now hiring sign on a storefront in Washington, on Oct. 7, 2022. Anna Moneymaker/Getty Images The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to another month of solid job growth and continued labour market tightness despite efforts by the Federal Reserve to cool demand for workers. The weekly jobless claims report from the Labor Department on Thursday likely does not change expectations that the U.S. central bank will further scale back the size of its interest rate increases next month. It, however, poured cold water on financial market hopes that the Fed would pause its fastest rate hiking cycle since the 1980s, which had been fanned by a slump in retail sales in December and a retreat in inflation. “A low level of layoffs indicates that demand for workers remains strong and labour market conditions remain tight,” said Rubeela Farooqi, chief U.S. economist at High Frequency Economics in White Plains, New York. “Facing work...