May 21st, 2018

Business

Education, immigration, trade can lift Canada’s growth prospects: central bank

By The Canadian Press on May 16th, 2018

OTTAWA – To lift the economy’s future growth prospects, a top Bank of Canada official is pointing to three areas that have helped the country in the past and could do so again: education, immigration and trade liberalization. In a speech today in Ottawa, Bank of Canada deputy governor Lawrence Schembri says the country’s potential ... Read More »

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Wedding of prince and actress brings outsized media interest

By Kirsten Grieshaber, The Associated Press on May 16th, 2018

BERLIN – Like most everyone else with a taste for fairytales, Germans love the spectacle of a royal wedding. But since the country’s last emperor, Wilhelm II, was forced to abdicate in 1918, Germans haven’t had a monarchy of their own to fuss over and so have adopted Britain’s royals as surrogates. It should come ... Read More »

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Facebook’s Zuckerberg to talk to EU parliament on privacy

By The Associated Press on May 16th, 2018

BRUSSELS – Facebook CEO Mark Zuckerberg has accepted to visit the European Parliament to explain his company’s recent privacy issues and allegations that it misused personal data. Parliament President Antonio Tajani said that Zuckerberg “will be in Brussels as soon as possible, hopefully already next week” and would meet with parliamentary leaders and experts on ... Read More »

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Toronto index down as weak sectors offset gains elsewhere; Loonie rises

By The Canadian Press on May 16th, 2018

TORONTO – Canada’s main stock index was moderately lower as weakness in utilities, financials and telecom services offset gains in other sectors. The Toronto Stock Exchange’s S&P/TSX composite index was down 22.63 points to 16,075.18, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 1.14 points to 24,707.55. The ... Read More »

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Analysts: Canada’s manufacturing sales point to growth in overall economy

By The Canadian Press on May 16th, 2018

OTTAWA – Canadian manufacturing sales rose a better-than-expected 1.4 per cent in March, as weakness in motor vehicle sales was more than offset by gains in the metals and aerospace industries, Statistics Canada reported Wednesday. Economists had expected an increase of 1.2 per cent, according to Thomson Reuters Eikon. Sales rose to $57.1 billion in ... Read More »

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Trudeau and Merkel talk trade, climate change ahead of June G7 summit

By The Canadian Press on May 16th, 2018

OTTAWA – Prime Minister Justin Trudeau has spoken to German Chancellor Angela Merkel about making progress at the G7 on climate change and combating protectionism when they meet next month in Quebec. Both are hot-button topics with U.S. President Donald Trump, who will be making his Canadian debut at the June 8-9 gathering in Quebec’s ... Read More »

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Home Capital secures cheaper credit line from two Canadian banks

By The Canadian Press on May 16th, 2018

TORONTO – Home Capital Group Inc. has secured a $500-million standby credit line from two unnamed Canadian banks to replace its more costly emergency funding facility from Warren Buffett’s Berkshire Hathaway Inc. The Toronto-based alternative mortgage lender says its subsidiary Home Trust Company has inked a letter of commitment from two Canadian Schedule 1 banks ... Read More »

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US factory production rose a healthy 0.5 per cent in April

By Christopher Rugaber, The Associated Press on May 16th, 2018

WASHINGTON – U.S. factories cranked out more appliances, computers and aircraft last month, lifting manufacturing production for only the second time in five months. The Federal Reserve said Wednesday that factory output rose 0.5 per cent in April after a flat reading in March. In the past year, production has increased a modest 1.8 per ... Read More »

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If Kinder Morgan bails, feds would back new Trans Mountain investors: Morneau

By The Canadian Press on May 16th, 2018

OTTAWA – Finance Minister Bill Morneau says if Kinder Morgan wants to abandon plans to build the Trans Mountain pipeline expansion, there are plenty of other investors out there willing to take up the cause. And Morneau says the federal Liberal government is willing to “provide indemnity” to those investors to ensure the controversial Alberta-B.C. ... Read More »

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Canada’s March manufacturing sales up 1.4%, above analyst estimates

By The Canadian Press on May 16th, 2018

OTTAWA – Statistics Canada says manufacturing sales rose 1.4 per cent to $57.1 billion in March, with gains in 72 per cent of the industries monitored. Economists had expected an increase of 1.2 per cent, according to Thomson Reuters Eikon. A notable gain occurred in primary metal sales, up 4.2 per cent to $4.4 billion, ... Read More »

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US home building slides 3.7 per cent in April

By Paul Wiseman, The Associated Press on May 16th, 2018

WASHINGTON – U.S. builders broke ground on fewer apartment buildings last month, pushing overall home construction down 3.7 per cent from March. The Commerce Department said Wednesday that housing starts fell to a seasonally adjusted annual rate of 1.29 million in April, lowest since December. Apartment construction tumbled 12.6 per cent to 374,000. Construction of ... Read More »

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