Bank of Canada surprises with second rate hike, eyes future moves The Bank of Canada raised interest rates on Wednesday, surprising many, and left the door open to more rate hikes in 2017 even as it pledged to pay attention to how higher borrowing costs would hit Canada’s indebted households. The 25-basis-point increase to 1 percent followed a hike in July and puts Canada ahead of the curve in returning borrowing … Read More
Canada mulls buying used Boeing fighter jets from Australia Canada, embroiled in a dispute with Boeing Co over the planned purchase of 18 new Super Hornet fighter jets, could buy used versions of the plane from Australia instead, the defense ministry said on Wednesday. The Liberal government of Prime Minister Justin Trudeau suspended talks with Boeing over the planned acquisition after the U.S. firm launched a trade challenge against … Read More
WestJet aims to lure Canadians from U.S. airlines with no-frills carrier WestJet Airlines Ltd’s (WJA.TO) planned ultra-low-cost carrier will target Canadian passengers who currently cross the border into the United States for cheaper fares, the company’s chief financial officer said on Wednesday. Canada’s second-largest airline, which is launching the separate no-frills carrier in June 2018, is trying to attract Canadians who now drive to places like Buffalo, New York for cheaper … Read More
British Columbia extends wildfire emergency for fourth time The Canadian province of British Columbia has extended a state of emergency for a fourth time until Sept. 15 due to wildfires raging across the region, the provincial government said on Friday. Since early summer, firefighters and emergency services have been battling hundreds of blazes across British Columbia that have forced as many as 45,000 people from their homes and … Read More
NAFTA nations plan talks progress under barrage of Trump threats Trade negotiators plan to take small steps forward in a second round of talks to rework the North American Free Trade Agreement (NAFTA) this weekend, trying to ignore daily threats from U.S. President Donald Trump to tear it up if he does not get his way. Trump has used Twitter, press conferences and speeches to attack NAFTA in recent days, … Read More
TSX edges higher as TD rallies on strong beat, GDP tops forecast Canada’s main stock index rose on Thursday as Toronto Dominion Bank TD.TO posted the strongest earnings beat among the country’s top banks and quarterly data showed Canada’s economic growth accelerated far more than expected. TD Bank, Canada’s second-biggest lender, was by far the biggest influence on the index. Its shares rallied 2.9 percent to C$66.77 after it reported earnings that … Read More
Canada PM says nothing new about Trump’s threat against NAFTA Canadian Prime Minister Justin Trudeau on Monday said there was nothing new to a threat by U.S. President Donald Trump to walk away from NAFTA and vowed Canada would stay in negotiations to modernize the trade pact. “We have heard such comments before,” Trudeau told reporters when asked about Trump’s statement. Trump renewed a threat to scrap NAFTA and criticized … Read More
Canada’s Trudeau shuffles cabinet, focuses on aboriginal woes Canadian Prime Minister Justin Trudeau on Monday reshuffled his cabinet to put more emphasis on helping aboriginal people, who complain he has broken repeated promises to improve their lives. Trudeau is splitting the federal indigenous and northern affairs ministry in two, with the most important role given to Jane Philpott, who has been praised across the political spectrum in her … Read More
Trump renews threat to scrap NAFTA going into next round of talks U.S. President Donald Trump renewed his threat to scrap NAFTA and ripped on trading partners Canada and Mexico in a tweet early on Sunday, days before the three countries were scheduled to hold a second round of negotiations on rewriting the 23-year-old agreement. “We are in the NAFTA (worst trade deal ever made) renegotiation process with Mexico & Canada. Both … Read More
Canada ramps up deportations amid growing migrant influx As an influx of asylum seekers crossing from the United States strains Canada’s immigration system, the country is ramping up its deportation of migrants, government data shows. Deportations of Mexicans, who have flocked to Canada in growing numbers after a visa requirement was lifted in December, was already 66 percent higher in the first eight months of 2017 than the … Read More