June 14th, 2021

Business

Growth in Canadian household wealth on track to slow down as economy reopens

By Danielle Edwards, The Canadian Press on June 11th, 2021

Statistics Canada said Friday that household financial assets rose for a fourth consecutive quarter and the debt-to-income ratio fell, but some economists predict the gains may slow down as the economy reopens and spending ramps up. The amount Canadians owe compared to their income dropped in the first quarter of 2021 compared with the end ... Read More »

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G-7 pledge to share, but jostle for ground in the sandbox

By Jill Lawless, Danica Kirka And Sylvia Hui, The Associated Press on June 11th, 2021

CARBIS BAY, England (AP) – Group of Seven leaders brought pledges to share vaccine doses and make a fairer global economy Friday to a seaside summit in England, where British Prime Minister Boris Johnson said the coronavirus pandemic should not be allowed to leave a “lasting scar” on the world. The wealthy nations’ leaders were ... Read More »

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B.C. to launch compulsory skilled trades certification system

By The Canadian Press on June 11th, 2021

VICTORIA – The British Columbia government is launching a compulsory skilled trades certification system that it says will strengthen economic recovery, while supporting higher-paying, more stable jobs. Premier John Horgan says he recognizes that it will be a big change for workers and employers and the transformation won’t happen overnight. The government says certification will ... Read More »

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DOJ seeks internal probe on seizure of Democrats’ data

By Mary Clare Jalonick And Michael Balsamo, The Associated Press on June 11th, 2021

WASHINGTON (AP) – The Justice Department has asked for an internal investigation after revelations that former President Donald Trump’s administration seized phone data from House Democrats in 2018 as part of an aggressive leaks investigation. The deputy attorney general, Lisa Monaco, asked the Justice Department’s inspector general to open an investigation on Friday, a senior ... Read More »

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DavidsTea creditors approve plan to split $18M owed by insolvent beverage company

By The Canadian Press on June 11th, 2021

MONTREAL – Insolvent beverage company DavidsTea Inc. says creditors have approved its plan of arrangement to distribute about $18 million to them in Canada and the U.S. A meeting held today saw a majority of shareholders in separate votes in both countries approve the plan. The votes cast represented at least two-thirds of the dollar ... Read More »

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‘Really good news’: Ontarians celebrate reopening with patio visits, shopping trips

By Denise Paglinawan and Tara Deschamps, The Canadian Press on June 11th, 2021

TORONTO – Ontario stores and restaurants were teeming with customers Friday as the province lifted some of its COVID-19 restrictions for the first time in months. Patios that have sat empty since last year were filled with diners and lively conversation once more and stores had lines snaking down the street as customers rushed to ... Read More »

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Senate demands former AGs testify about Trump data seizure

By Mary Clare Jalonick And Michael Balsamo, The Associated Press on June 11th, 2021

WASHINGTON (AP) – Senate Democratic leaders are demanding that Trump-era Attorneys General Bill Barr and Jeff Sessions testify about the secret seizure of data from House Democrats in 2018, calling it “shocking” and a “gross abuse of power.” Senate Majority Leader Chuck Schumer and Illinois. Sen. Dick Durbin said in a statement Friday that Barr ... Read More »

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S&P/TSX composite in record territory as broad rally lifts market

By The Canadian Press on June 11th, 2021

TORONTO – Canada’s main stock index was in record territory in late-morning trading as gains in the base metals, industrial and energy sectors helped lead a broad-based rally. The S&P/TSX composite index was up 92.47 points at 20,141.94. In New York, the Dow Jones industrial average was down 49.64 points at 34,416.60. The S&P 500 ... Read More »

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Fashion brand Forever 21 returns to Canada with collections in Hudson’s Bay stores

By The Canadian Press on June 11th, 2021

The clothing brand Forever 21 is making a return to the Canadian market after an agreement with Hudson’s Bay Co. allowing them to offer collections inside the department store. Forever 21 debuts today at Hudson’s Bay stores in Toronto’s Yorkdale Mall and the Square One Shopping Centre in Mississauga, Ont. Hudson’s Bay says multiple stores ... Read More »

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AP source: J&J doses to be released, but many will be tossed

By Zeke Miller And Linda A. Johnson, The Associated Press on June 11th, 2021

U.S. regulators are allowing for the release of 10 million doses of Johnson & Johnson’s COVID-19 vaccine from a troubled Baltimore factory, but material to make many more must be thrown out because of possible contamination, a person familiar with the decision told The Associated Press on Friday. The Food and Drug Administration announced that ... Read More »

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S&P/TSX composite up in broad-based rally, U.S. stock markets also rise

By The Canadian Press on June 11th, 2021

TORONTO – Canada’s main stock index climbed higher in early trading as strength in the base metals sector helped lead a broad-based rally, while U.S. stock markets also rose. The S&P/TSX composite index was up 39.97 points at 20,089.44. In New York, the Dow Jones industrial average was up 106.87 points at 34,573.11. The S&P ... Read More »

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