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The Bank of Canada lowered its interest rate by 50-basis points to 3.25 per cent on Wednesday but signalled a slower pace of rate cuts moving forward. Economists were largely expecting another weighty cut following a quarterly GDP report that saw growth come in below the central bank’s projection and a …
Read More »International student permit cuts are pushing away prospective students, experts say
The people who run Canada’s universities and colleges are warning that Ottawa’s crackdown on international student visas threatens the viability of post-secondary institutions — and could leave students in more remote communities with fewer options. In September, the federal government announced it would slash the number of visas it issues by another …
Read More »Losses in China lead to $5B charge for General Motors as it cuts the value of its assets
The poor performance of General Motors’ Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totalling more than $5 billion USD in the fourth quarter of this year. The Detroit automaker said in a regulatory filing Wednesday that it will cut the value …
Read More »Strong storm brings down trees, cuts power in District of Invermere
A storm swept through the East Kootenay region of B.C. on Friday night and caused some damage in the region. Strong winds and a thunderstorm brought down trees onto power lines, causing outages in several areas in the District of Invermere. The weather also snapped a number of tree limbs …
Read More »Tax hike or service cuts? Edmonton faces another year of budget pressure – Edmonton
Without service cuts, Edmontonians could face a 13 per cent tax hike next year. Councillors were given a preview of next year’s financial outlook at Wednesday’s executive committee meeting. A preliminary estimate projects a tax levy increase of 13 per cent in 2025 without making any adjustments. With some adjustments …
Read More »Canada’s housing market hit ‘pause’ in July despite rate cuts – National
The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows. The Canadian Real Estate Association (CREA) said Thursday that home sales retreated by 0.7 per cent month to month in July, giving …
Read More »Ontario opposition parties ready for ‘very early election’ if Ford cuts mandate short
When Ontario Premier Doug Ford refused to rule out an early election at a news conference in late May, he started whispers that bounced through the now-empty corridors of Queen’s Park. Staffers drafting legislation and regulations wondered if their work would see the light of day and MPPs started to …
Read More »Tiger-Cats make final roster cuts, release Bayless and Bennett – Hamilton
Receiver Omar Bayless and Canadian defensive end Mason Bennett highlight a long list of roster cuts announced Saturday by the Hamilton Tiger-Cats. Canadian Football League teams had until 10 p.m. Eastern Time to submit their last round of training camp transactions. Hamilton cut 29 players from its roster and placed …
Read More »Former Ford staffer cuts ties with town after lobbying plan used to ‘embarrass’ government
A small town in eastern Ontario has seen its plans to hire a well-connected lobbying firm to help it net infrastructure funding fall apart after comments from councillors about “backroom” conversations with an administration that “talks to their friends” were used to “embarrass” the Ford government. The town of Brighton, …
Read More »Interest rate cuts could come in spring this year, Deloitte says – National
By Staff The Canadian Press Posted January 4, 2024 8:24 am Descrease article font size Increase article font size Deloitte Canada says the Canadian economy will return to growth in the second half of 2024, with interest rate cuts as early as this spring. The firm’s economic outlook report predicts …
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