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  • 21 Apr 2019 17:35 | Divjot Mehton (Administrator)

    The U.S. economy is set to show fresh signs of stabilizing and indeed even strengthening after its recent soft patch.

    After a run of data last week exceeded forecasts, the government on Friday reveals its first estimate of gross domestic product for the first quarter.

    Wall Street estimates are creeping higher with the consensus of economists surveyed by Bloomberg pointing to a 2.2 percent advance. A gauge published by the Federal Reserve Bank of Atlanta comes in at 2.8 percent.

    Less confident are the economists at Bloomberg Economics, who project expansion of 1.5 percent.

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  • 16 Apr 2019 08:25 | Divjot Mehton (Administrator)

    The Golden State is living up to its nickname, with California ranking as the most innovative economy in America.

    That’s according to Bloomberg’s newest U.S. State Innovation Indexbased on six equally-weighted metrics: research and development intensity, productivity, clusters of companies in technology, “STEM” jobs, populous with degrees in science and engineering disciplines, and patent activity.

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  • 12 Apr 2019 21:46 | Divjot Mehton (Administrator)

    At first glance, there’s little to betray the village of Edington’s status as the lodestar of Brexit. Squeezed between the chalk hills of Salisbury Plain and Wiltshire’s clay downs to the north, Edington lacks a school, a shop, or an obvious center. It has a village pub, the Three Daggers, and an ornate priory church serving a population the 2011 census put at 734 souls.

    It’s here, though, that historians broadly agree England was born. And England is key to understanding what’s happening in the U.K. today. For if anything is clear from its tortuous divorce from the European Union, the spectacle of an angry and divided nation in desperate need of direction is an English phenomenon, not a British one.

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  • 09 Apr 2019 17:50 | Divjot Mehton (Administrator)

    Indonesia’s government is set to export rice for the first time in more than a decade -- not because the country has turned in a bumper harvest but because it’s been importing the grain based on faulty data collection, resulting in an oversupply of stocks.

    The statistics agency has now overhauled its rice output survey to improve the data. It’s also making its surveyors climb mountains and trek down valleys, sometimes in remote islands, to verify satellite images of more than 200,000 paddy fields.

    Suhariyanto, the head of Indonesia’s Central Statistics Bureau, said his agents found it tough at first, with some saying it’s “like finding a Pokemon,” referring to the hit mobile game where users catch virtual monsters on a digital map.

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  • 08 Apr 2019 09:50 | Divjot Mehton (Administrator)

    The global economy is looking less gloomy than it did only weeks ago. It still may not have the stamina to extend a recovery that’s showing signs of age.

    A number of recent developments are stoking optimism. The Federal Reserve hit pause on interest-rate hikes and other central banks delivered stimulus. Trade negotiations between the U.S. and China appear to be inching toward an end to the trade war. And keys gauges of factory strength in China and the U.S. strengthened in March, allaying worries those economies were hitting a weak patch.

    Investors like what they see. Global stocks have surged nearly 14 percent this year, according to the MSCI world equities index. The rally has erased much of the fear that gripped markets in December, when stocks plunged almost 8 percent and analysts speculated the global economy might be on the precipice of a recession.

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  • 07 Apr 2019 13:28 | Paul Mann (Administrator)

    The chief executive officer of Toronto-Dominion Bank is dismissing the bear case against Canada's big banks.

    In an interview with BNN Bloomberg, Bharat Masrani brushed off fears this country's lenders could be dragged down by a looming wave of losses in their loan books.

    "We are not sensing it. You know, this credit environment has been extraordinarily benign," he told Amanda Lang. "Having been in the risk business many years ago, I'll say it is remarkable."

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  • 14 Oct 2018 11:28 | Paul Mann (Administrator)

    Canada is applying quotas and a 25 per cent tariff on steel imports from China and other countries to avoid becoming a dumping ground for steel in the face of metal levies imposed by U.S. President Donald Trump.

    Canada will erect new barriers to any flood of shipments of seven types of foreign steel, and will issue refunds and exemptions to some Canadian firms on tariffs paid on imports from the U.S.

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  • 14 Oct 2018 11:25 | Paul Mann (Administrator)

    Dealing with residents who smoke or grow cannabis is nothing new for most landlords and condominium corporations. But as the clock ticks down to recreational cannabis legalization on Oct. 17, many are still left scrambling to clear up some unanswered questions that the new legislation brings.    

    “While legalization of cannabis is new, we have been dealing with cannabis growing and smoking for what seems like forever,” Rachelle Berube, a long-time property manager in the Toronto area, and president of Landlord Rescue Inc., told BNN Bloomberg in an email.

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  • 05 Dec 2017 13:01 | Nishan Singh


    Faced with rising minimum wage costs, many small-business owners across Ontario are crunching numbers and making the difficult decision to raise their prices.

    The provincial Liberal government is increasing the minimum wage to $14 an hour as of Jan. 1 and then to $15 by Jan. 1, 2019 – an increase of about 23 per cent and 32 per cent, respectively, from just over two months ago. The rate increased to $11.60 from $11.40 in October. 

    "It is meaningful, the way it affects us," says Andrew Violi, president of Mellow Walk Footwear, a Toronto-based manufacturer of footwear sold to retailers such as Mark's and Mister Safety Shoes.

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  • 27 Nov 2017 11:00 | Nishan Singh

    With companies up in arms over a looming hike to Ontario's minimum wage and an election barely six months away, the Wynne government is offering small businesses a tax cut and new incentives to hire and retain young workers.

    Ontario will cut its corporate tax rate on the first $500,000 of profits to 3.5 per cent effective Jan. 1, down from the current level of 4.5 per cent, Finance Minister Charles Sousa announced Tuesday.  

    Small businesses with fewer than 100 employees will get an incentive of $1,000 to hire a young person aged 15 to 29 and another $1,000 if the company retains that worker for six months.

    Sousa made the pledges in his fall economic statement. The statement is typically a mid-year tweak to the budget, but this edition takes on extra significance with election day set for June 7 and the Ontario Liberals trailing in the polls after 14 straight years in power.

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