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Canada Economics News
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Toronto 15th in the world for number of millionaries at 118,000Economics | 167 hits | 9:18 PM on Friday | posted by BeaverFever
Toronto is home to more than a quarter of Canada’s millionaires, according to statistics compiled by English consulting firm WealthInsight. Canada can't account for $3.1B in anti-terror funding, AG findsEconomics | 149 hits | 2:02 PM on Tuesday | posted by ShepherdsDog
The Canadian government can't account for $3.1 billion allocated for anti-terrorism funding, Auditor General Michael Ferguson says in his spring report released today, and he also identified problems in a number of other areas including search and rescue Canada lost when Ottawa cut the GSTEconomics | 276 hits | 7:52 PM on Sunday | posted by BeaverFever
Every percentage point of GST is worth about $7-billion a year. Cutting the tax by two percentage points starting in 2006 makes almost everything the government has done since seem like small potatoes, including last week’s budget Bank of Canada holds steady, signals interest rates to stay low longer
The Bank of Canada is hinting it is less concerned about household debt levels, making it possible to keep attractive interest rates in place longer to spur investment and economic growth. Canada-U.S. price gap report calls for import tax cutEconomics | 238 hits | 4:24 PM on Wednesday | posted by commanderkai
Senators who studied why Canadians pay more than Americans for many products are calling on the government to review the taxes on imported goods. Corporate tax cuts have firms sitting on cash, group saysEconomics | 204 hits | 11:18 AM on Tuesday | posted by BeaverFever
While most Canadians don't earn enough to pay off their taxes until sometime in late June, Canada's businesses will have reaped sufficient revenue to pay their year's share by Jan. 30. Canada's richest 1% rake in one-tenth of country's income | CTV NewsEconomics | 192 hits | 11:40 AM on Monday | posted by BeaverFever
Mark Carney named Bank of England governor | CTV News
Canada’s top banker Mark Carney has been named the Bank of England’s new governor. Carney will continue in his role as Bank of Canada governor until June 1, 2013, Finance Minister Jim Flaherty confirmed at a Monday morning news conference in Ottawa. Alberta, Ontario face EU-style debt crisis, report warns
A European-style debt crisis could happen in Canada unless a number of provinces, specifically Ontario and Alberta, change the long-term direction of their finances, a report from a major Canadian think tank warned Thursday. Canadian economy in better shape than expected
July GDP expands by 0.2 per cent, kicking off third-quarter on stronger footing Spurred by immigration in the West, Canada's population growth fastest in G8
Saskatchewan has highest spike in immigration rate Global bacon shortage 'unavoidable'
The British agency in charge of the nation's pig industry says the world is on the verge of a significant pork and bacon shortage as early as next year because of rising feed costs.Australian Deputy PM: GOP "cranks and crazies" biggest threat to world economy
Economics | 399 hits | 8:10 AM on Tuesday | posted by BeaverFever
Five Canadian banks report billions more in earnings
The Royal Bank says profits increased by a massive 73 per cent in the third quarter of 2012 and earnings hit $2.24 billion. The news comes as TD Canada Trust and CIBC also reported much higher earnings. Canadian consumer debt level hits record high
Despite worrying economic signs globally and near-constant warnings from financial leaders at home, Canadians are racking up higher-than-ever debt levels, according to a new report from credit bureau TransUnion. Image of Asian-looking woman scrapped from new $100 bills after complaints
Move comes after focus groups thought the image was everything from stereotypical to not diverse enough to represent Canada’s multi-culturalism 45% of Canadians don't set aside funds for emergency expenses, poll finds
Ontario and Alberta residents were the least likely to say they to had an emergency fund set up – 53 per cent of respondents in each province Surprise fall in Canada's unemployment rate in June
In Canada, unemployment falls slightly from 7.3% to 7.2% in June as firms hired an extra 7,300 staff according to official data. Civil servants share $6B 'severance' without losing jobsEconomics | 418 hits | 4:04 PM on Thursday | posted by ShepherdsDog
MacKay orders revamp of Canadian Forces command
Restructuring aimed at slicing about 25 per cent of ‘overhead’ for each of three commands, although how many jobs will be cut is unclear Canada's banks received $114B 'bailout,' study asserts | CTV News
Canadian banks received up to $114 billion in government financial support at the height of the global financial crisis, a recent study reports. Conservatives' budget to reset retirement at age 67
In first budget with a majority, Harper government will focus on job creation and changes to Old Age Security Recent immigrants a 'huge burden' on taxpayersEconomics | 445 hits | 6:48 AM on Thursday | posted by Canadiana55
B.C. mulls flying welfare recipients north to jobsEconomics | 477 hits | 7:11 PM on Wednesday | posted by ShepherdsDog
BMO lowers 5-year mortgage rate, sets stage for rate war
BMO Bank of Montreal announced Thursday it's lowering two key mortgage rates, setting off what could be yet another mortgage war with other lenders. Iceland considering switch to Canadian dollar | CTV News
Will ongoing economic uncertainty about the eurozone push Iceland into the stable arms of the Canadian dollar? While the question may have seemed a loonie one only a decade ago, the idea has been gaining traction recently among Icelandic investors. Prepare to have less take-home pay starting Jan. 1
Even without major tax hikes, Canadians' take-home pay will get a little lighter starting Jan. 1. IMF warns about Canadian household debt, housing prices
A combination of high household debt, overpriced housing and external economic problems are putting Canada's recovery at risk, the International Monetary Fund is warning. Economist says Euro crisis will weigh on Canada in 2012
One of Canada's leading bank economists is predicting a year of slow economic growth, low interest rates and continued uncertainty due to the financial crisis underway in Europe. Canadian households getting poorer, taking on more debt
Canadians keep taking on more debt even as they get poorer, a new Statistics Canada report shows. Euro crisis putting Canada under risk, BoC warns
Global financial conditions stemming from the debt crisis in Europe are deteriorating rapidly, placing Canada's economy under greater stress and Canadians with large debts at greater risk, warns the Bank of Canada.Italy approves austerity measures
Italian Premier Mario Monti said Sunday his government has approved austerity and growth measures worth $40.53 billion US to reawaken the Italian economy and help save the euro from collapse.
Economics | 483 hits | 2:39 AM on Monday | posted by commanderkai
Italian Premier Mario Monti said Sunday his government has approved austerity and growth measures worth $40.53 billion US to reawaken the Italian economy and help save the euro from collapse. Survey says consumers slow down borrowing
There are signs that Canadian consumers have slowed down their borrowing this year, after peaking in the fourth quarter of 2010. Does Black Friday help or hurt Canadian retailers?Economics | 436 hits | 11:03 AM on Sunday | posted by wildrosegirl
Intrepid shoppers save the date as a chance to seize rare bargains and door-crasher specials. But as one business professor explains, Black Friday can be a bleak day for Canadian retailers. Canadian home sales top expectations
Canadian Real Estate Association upgrades outlook for 2011, 2012 Hackers threaten City in support of Occupy Toronto | CTV Toronto | CTV News
CTV Toronto - A mysterious group of Internet vigilantes has announced its support for the Occupy Toronto protesters, promising to target City Hall if any move is made against the weeks-old movement. Bank of Canada interest-rate cut predicted
Two economists predict the Bank of Canada will slash its benchmark interest rate from its current level of one per cent next year. Economy sheds 54,000 jobs, unemployment rate jumpsEconomics | 371 hits | 8:25 AM on Friday | posted by wildrosegirl
Canadian employers were slashing full-time jobs in October, pushing Canada's overall unemployment rate up 0.2 percentage points to 7.3 per cent, Statistics Canada reports.Back to Canada News
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