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  • 20 Oct 2020 21:41 | Deepinder Loomba (Administrator)

    Business sentiment in Canada improved over the summer but remains near historical lows as uncertainty around the path of the virus curbs demand and sales prospects, according to the Bank of Canada.

    The results from the autumn Business Outlook Survey show businesses report conditions have improved as warmer weather and lower Covid-19 case counts encouraged consumers to go out and buy goods and services. However, businesses are still worried about future demand and sales prospects with some economic restrictions still in place.

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  • 19 Oct 2020 15:40 | Deepinder Loomba (Administrator)

    Brookfield Asset Management will buy an Indian developer’s commercial properties for US$2 billion, the biggest real estate deal in the South Asian nation.

    The Canadian asset manager is acquiring 12.5 million square feet of rent-yielding offices and co-working spaces from RMZ Corp., the privately held developer said in a statement on Monday. The Indian firm said it will have zero debt after the transaction and will use the money to expand its portfolio.

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  • 15 Oct 2020 21:23 | Paul Mann (Administrator)

    TORONTO -- Unifor has reached a tentative agreement for 9,000 workers at Fiat Chrysler Automobiles in Canada, a deal the union says could see the automaker invest $1.5 billion and add 2,000 jobs.

    Unifor national president Jerry Dias said Thursday the 11th-hour deal was hammered out "moments before midnight" Wednesday, averting a strike at six plants across the country.

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  • 12 Oct 2020 20:42 | Paul Mann (Administrator)

    Air Canada slashed the purchase price for tour operator Transat AT Inc. to almost a quarter of its earlier offer, citing the impact of the COVID-19 outbreak on the air transport industry.

    The Montreal-based airline said it’s cutting the offer for Transat to $5 a share from $18 when the deal was announced in August 2019, valuing the company at about $190 million . Transat’s investors can choose between receiving a cash payment or 0.2862 Air Canada shares for each stock they hold, according to the statement Saturday. The previous offer was an all-cash deal.

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  • 28 Sep 2019 12:11 | Anonymous

    They're dressed in an all-black uniform, faces distorted behind gas masks, using umbrellas as shields, and following a sophisticated set of hand motions which act as their form of communication. 

    For more than three months, millions of civilians have been protesting the Hong Kong government.

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  • 23 Sep 2019 21:47 | Anonymous

    The Monday after last Thanksgiving, Mary Barra, chief executive officer of General Motors Co., announced the automaker’s biggest layoff since its 2009 bankruptcy. Five North American factories were marked for closure. Six thousand hourly jobs in the U.S. and Canada would soon be eliminated, and about 18,000 salaried employees would have until the end of the year to consider a buyout package. GM needed more than a third of the salaried personnel to accept. Fewer than 2,000 did. The remainder would have to be let go, which they were, starting in February.

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  • 23 Sep 2019 21:46 | Anonymous

    Prime Minister Justin Trudeau pledged a major personal income tax break if re-elected, as the Canadian leader tries to recover from revelations he wore blackface makeup on multiple occasions.

    The governing Liberal Party would raise the basic personal income tax deduction -- the threshold under which no taxes are paid -- by slightly more than 20% over the next four years. That’s expected to cost an annual C$5.6 billion ($3.8 billion) by the time it’s fully implemented, and paid for by soon-to-be-announced “measures that make our tax system fairer for Canadians,” the Liberals said in a statement Sunday.

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  • 15 Sep 2019 13:39 | Anonymous

    On Saturday, a drone strike on two major Saudi Arabian oil refineries knocked out about half of the country's oil production.

    The production shutdown amounts to about 5% of the world's daily production of crude oil, or roughly 5 million barrels. The attack came as state-owned oil giant Saudi Aramco has been plotting a massive initial public offering. Yemen's Houthi rebel group claimed responsibility for the attack.

    The Saudi index fell 2.3% at the opening on Sunday before recovering, Reuters reported. The move erased any stock gains on the index for the year, Bloomberg reported.

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  • 10 Sep 2019 12:40 | Anonymous

    Canada recorded one of its best months of job gains on record in August, a surprising show of strength by a labor market that has relentlessly powered the nation’s expansion.

    The economy added 81,100 jobs last month, Statistics Canada said Friday in Ottawa, versus expectations for a gain of about 20,000. It’s the seventh largest monthly gain in records going back to 1976. Canada has now added 471,300 jobs over the past 12 months, the most in a year since 2003.

    Friday’s jobs report will only reaffirm expectations at the Bank of Canada that the nation’s economy has developed a certain amount of resilience to global trade headwinds, giving the central bank ammunition to buck the global easing trend. For one, the gain in August should ease worries about the extent of any slowdown in the second half of this year.

    “If the Bank of Canada was on the fence about cutting rates in October, today’s jobs numbers might be one further push towards standing pat,” Avery Shenfeld, chief economist at CIBC World Markets, said in a note to investors.

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  • 04 Sep 2019 09:43 | Anonymous

    Canada’s trade deficit widened more than expected as energy shipments abroad declined for a second month, a sign recent export strength could be fading.

    The nation’s merchandise trade gap hit C$1.12 billion ($840,000 million) in July, Statistics Canada said Wednesday from Ottawa. Economists surveyed by Bloomberg were expecting a deficit of C$350 million.

    Exports fell 0.9%, led lower by a 6.7% decline in energy shipments. Crude oil exports pulled back 7.7%. And stripping away price effects, exports edged down 0.1% on the month.

    While economic growth in Canada led the Group of Seven in the second quarter, the expansion was driven primarily by a rebound in oil exports after a half year of dismal growth. Rising global uncertainty amid the escalating trade war between the U.S. and China threatens the northern nation’s export prospects, a topic likely to be addressed by the Bank of Canada at its rate decision later Wednesday morning.

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