Here are the CP Business Department's plans for today and the top business stories so far. All times Eastern unless otherwise stated. All ETAs and wordcounts approximate. Entries are subject to change as news develops.

If you have any questions, please contact Kate Hopwood at 416-507-2151 or kate.hopwood@thecanadianpress.com, or Jody White at jody.white@thecanadianpress.com. You can always reach the desk at business@thecanadianpress.com or 416-507-2138.

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COVERING:

Ian Bickis will have a story on a report from the Bank of Canada and OSFI on climate scenarios.

We'll monitor Cogeco's Q1 conference call for anything interesting. 

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TOP STORIES:

Cogeco Communications earns $106.8M in Q1

MONTREAL -- Cogeco Communications Inc. says its net earnings were flat in its latest quarter despite higher revenues following a U.S. acquisition. The Montreal-based company says profits attributable to shareholders were $106.8 million or $2.27 per diluted share in the first quarter, compared with $106.7 million or $2.22 per share a year earlier.

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December retail sales slide 1.9% amid shortages, omicron

US-Retail-Sales

Americans, beset by product shortages, rising prices and the arrival of omicron, sharply cut their spending in December after a burst of spending in the fall that helped bolster the holiday season. Retail sales fell a seasonally adjusted 1.9% in December compared with the previous month when sales increased 0.3%, the U.S. Commerce Department said Friday. Analysts expects spending to be unchanged. 

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World shares track Wall Street retreat, US futures edge up

Financial-Markets

BANGKOK -- Shares have slipped in Europe and Asia after a retreat on Wall Street that left the Nasdaq composite down 2.5%. Benchmarks fell in Frankfurt, Paris, Tokyo and Shanghai. China reported its global trade surplus surged nearly 30% in 2021 to $676.4 billion. South Korea's central bank raised its key interest rate to 1.25% from 1%, acting to counter inflation. On Thursday, the S&P 500 fell 1.4%. 

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CALENDAR:

Bank of Canada and OSFI release report on climate scenarios.

Cogeco Inc. and Cogeco Communications Inc. holds a call to discuss their first-quarter results. 1-877-291-4570

CP BUSINESS

The Canadian Press