With Canada’s carbon tax set to increase again on April 1, many Canadians have been asking questions about how it works and what the increase will cost. CBC’s David Thurton breaks down the policy, the price and the rebates.
Canadian productivity is falling compared to the U.S. Local business leaders blame overregulation.
"We believe we are heading into a proper downturn that will require a proper easing cycle," Manulife's chief economist Frances Donald said.
MOSCOW (Reuters) -Russia's finance ministry said on Monday that it would halve its purchases of foreign currency and gold in the month ahead, a move that will increase the state's overall forex sales. The finance ministry said its purchases of foreign currencies and gold for the period from May 8 to June 6 would amount to the equivalent of 110.94 billion roubles ($1.21 billion), or 5.55 billion roubles per day. Due to other interventions the central bank carries out, the Russian state will continue making FX sales throughout May with overall sales increasing to 6.3 billion roubles from 0.6 billion roubles a day in the previous month.
At the start of 2024, the economy appeared to deliver just about everything President Joe Biden could want: falling inflation, robust growth and a forecast of interest rate cuts at the Federal Reserve that might send economic output even higher. Inflation has proven stubborn and output has slowed. Perhaps most notably, the Fed has cast doubt over whether rate cuts will arrive after all.
(Bloomberg) -- For the first time in nearly a generation, fixed income is living up to its name.Most Read from BloombergIsrael Says a Cease-Fire Plan Backed by Hamas Falls ShortJack Dorsey Leaves Bluesky Board, Calls X ‘Freedom Technology’At $2 Million Per Minute, Treasuries Mint Cash Like Never BeforeEx-Trump Controller Says Cohen Repaid From Personal AccountS&P 500 Extends Gains in Final Minutes of Trading: Markets WrapThis, at a certain level, is simply the consequence of benchmark rates in t
After three decades selling homemade buns on the streets of the Chinese city of Xian, 67-year-old Hu Dexi would have liked to slow down. Instead, Hu and his older wife have moved to the edge of Beijing, where they wake at 4 a.m. every day to cook their packed lunch, then commute for more than an hour to a downtown shopping mall, where they each earn 4,000 yuan ($552) monthly, working 13-hour shifts as cleaners. The alternative for them and many of the 100 million rural migrants reaching retirement age in China over the next 10 years is to return to their village and live off a small farm and monthly pensions of 123 yuan ($17).
A recession in late 2024 or early 2025 could send the S&P 500 tumbling to around 3,600, BCA's Roukaya Ibrahim said.
Centre Hastings Mayor Tom Deline has a message for upper levels of government: if you want to combat the housing crisis, stop focusing on forking over millions to big cities."Give the dollars to the small, rural communities and we'll darn well do it for you," he said.Fellow mayors in eastern Ontario's Hastings County say getting their hands on those dollars has proved difficult, despite devoting scarce staff time and spending hundreds of thousands of dollars to apply for federal and provincial p
Economists comment on the state of housing as homebuyers face high rates and borrowing costs this spring.
(Bloomberg) -- Russia’s oil revenue more than doubled in April from a year earlier, despite international sanctions intended to limit the flow of money to fuel President Vladimir Putin’s war in Ukraine.Most Read from BloombergTruce Talks Drag as Hamas Hits Israel Crossing in Deadly AttackHamas Says It Accepts Proposal for Gaza Cease-Fire With IsraelAt $2 Million Per Minute, Treasuries Mint Cash Like Never BeforeJudge Threatens Trump With Jail Over Gag Order ViolationsTreasury Rally Risks Running
What's the debate about the federal government's latest directive on working from the office really about?Andrew Reeves says it's a question that's been on mind lately."Is the pushback to coming back to the office more of a pushback [against] crappy spaces and crappy places?" asked Reeves, an architect and founder of Ottawa firm Linebox Studio, in a recent interview with CBC Ottawa News."Maybe it's not really about work. Maybe it's really about the experience of a city."Reeves is one of many mul
(Bloomberg) -- Canadians are feeling gloomy about their personal finances — and Generation Z is the gloomiest of all.Most Read from BloombergIsrael Says a Cease-Fire Plan Backed by Hamas Falls ShortJack Dorsey Leaves Bluesky Board, Calls X ‘Freedom Technology’Russians Are Coming to Terms With Putin’s War in UkraineAt $2 Million Per Minute, Treasuries Mint Cash Like Never BeforeThe Nanos Pocketbook Index, a measure of how people perceive their personal finances and job security, fell to 50 last w
LONDON (Reuters) -Investors have gone from bracing for a U.S. recession to positioning for the world's biggest economy to keep chugging along. European growth is also better than anticipated a few months ago, a challenge for traders trying to divine how much central bankers will lower interest rates. Many analysts said this would be the year U.S. growth buckled, after the same predictions proved woefully wrong in 2023.
Many Americans might disagree, but the one-percenters at the Milken Institute's annual financial conference think the US economy is trouncing everybody else's.
Global stocks ticked higher on renewed bets that the Federal Reserve would likely ease interest rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention. With the UK and Japan on public holidays, markets in mainland China and Europe got off to an upbeat start, with Friday's softer-than-anticipated U.S. jobs report underpinning sentiment by renewing market rate-cut bets. Europe's broadest stock index rose 0.4% while S&P 500 and Nasdaq futures added 0.2% each in a positive sign for the Wall Street open later on.
New York State lawmakers return from a two-week break on Monday with a month left to decide the fate of a controversial bill that aims to streamline sovereign debt restructurings, with hundreds of billions of dollars in bond contracts on the line. Unlike corporations or individuals, countries cannot declare bankruptcy and the current process of a debt restructuring can be costly both in time and money. The proposed bill looks to "provide effective mechanisms for restructuring sovereign and subnational debt" and the rewrite of this state law would retroactively affect sovereign debt contracts and its holders across the world.
Investors will look for further clues about interest rate cuts this year from a slew of Fed officials scheduled to speak this week.
The Canadian dollar weakened against its U.S. counterpart on Tuesday as interest rate differentials continued to count against holding the currency and ahead of a key domestic employment report this week. "The main reason the Canadian dollar is falling is interest rate differentials," said Rahim Madhavji, president at Knightsbridge Foreign Exchange. "The expectation still continues to be that the Bank of Canada is looking to decrease rates in June, and the Fed will also head in that direction but it is definitely in no hurry to do that."
(Bloomberg) -- The euro zone’s economy is waiting for a resounding vote of confidence from its own consumers for its long-awaited rebound to finally take shape.Most Read from BloombergTruce Talks Drag as Hamas Hits Israel Crossing in Deadly AttackAt $2 Million Per Minute, Treasuries Mint Cash Like Never BeforeJudge Threatens Trump With Jail Over Gag Order ViolationsTreasury Rally Risks Running Into a $125 Billion Brick WallBuffett Praises Apple After Trimming It, Drops Paramount StakeWith employ
The Argentine leader tells the BBC that the "political caste" is bearing the brunt of his reforms.
