Globe and Mail workers could be off the job by midnight Wednesday: union

Globe and Mail workers could be off the job by midnight Wednesday: union
TORONTO — A strike appears to be looming at the Globe and Mail. The union representing editorial, circulation and advertising sales workers at the Globe says they could be on strike by midnight Wednesday. Unifor says the 320 members are seeking pension protection and an end to what it says is a pay gap between male and female employees. They have been negotiating with the Globe... Read More

Nutrien to focus on Saskatchewan for potash, writes off east coast facility

Nutrien to focus on Saskatchewan for potash, writes off east coast facility
SASKATOON — The head of Nutrien Ltd. says the company has enough room for potash expansion in Saskatchewan that it doesn’t make sense to invest in expanding production in costlier regions. Chief executive Chuck Magro made the remarks on conference call with financial analysts Tuesday after taking a writedown due to the permanent closure of its potash mine in New... Read More

Global economy at stage where stimulus can be ‘steadily withdrawn’: Poloz

Global economy at stage where stimulus can be ‘steadily withdrawn’: Poloz
OTTAWA — The governor of the Bank of Canada says after a decade of low-interest rates around the world the global economy has reached stronger footing where stimulus can be steadily withdrawn. Stephen Poloz’s remarks today come as the Bank of Canada signals it will gradually raise its benchmark interest rate from its current level of 1.75 per cent to a so-called neutral stance of somewhere... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Poloz in the UK Bank of Canada governor Stephen Poloz will give a speech to the Canada-UK Chamber of Commerce in England on Monday. Soft wage growth numbers from Statistics Canada on Friday have some economists predicting a slower rise in interest rates. Housing... Read More

Wage growth weakens despite tightened job market; unemployment rate dips to 5.8%

Wage growth weakens despite tightened job market; unemployment rate dips to 5.8%
OTTAWA — Canada’s unemployment rate has edged back down to its four-decade low of 5.8 per cent — but even in a job market that’s having a hard time finding workers, wage growth is continuing to slow. The country added 11,200 net new jobs in October, including a gain of 33,900 full-time positions, Statistics Canada said Friday in its latest labour force survey. The agency... Read More

US adds robust 250,000 jobs; pay growth fastest since 2009

US adds robust 250,000 jobs; pay growth fastest since 2009
WASHINGTON — The final major economic report before Tuesday’s congressional elections showed that U.S. employers added a stellar 250,000 jobs in October and raised average pay by the most in nearly a decade. At the same time, the unemployment rate remained at a five-decade low of 3.7 per cent. Friday’s employment report from the government pointed to a consistently robust... Read More

Canadian Natural charges rivals frustrating pipeline efficiency moves for profit

Canadian Natural charges rivals frustrating pipeline efficiency moves for profit
CALGARY — The president of Canadian Natural Resources Ltd. says certain energy industry members are interfering with attempts to make pipelines run more efficiently because they are making “windfall revenues” from current discount prices on Western Canadian oil production. Tim McKay says the unnamed members of the Crude Oil Logistics Committee have voted down changes to inefficient rules that “exacerbate” multi-year high oil price discounts caused mainly by insufficient... Read More

US average mortgage rates ease; 30-year at 4.83 per cent

US average mortgage rates ease; 30-year at 4.83 per cent
WASHINGTON — Long-term U.S. mortgage rates declined this week, in a quiet pause after weeks of market anxiety over rising interest rates. Home borrowing rates still remain at their highest levels in more than seven years, dampening the outlook for prospective homebuyers. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages eased to an average 4.83 per... Read More

Ontario Fall Economic Statement set to be delivered on Nov. 15: minister

Ontario Fall Economic Statement set to be delivered on Nov. 15: minister
TORONTO — Ontario’s Progressive Conservative government will deliver an update on the state of the province’s finances later this month. Finance Minister Vic Fedeli says the Fall Economic Statement will be released on Nov. 15. He did not detail specific measures that will be included in the statement, but says the government does not plan to use one-time revenue to balance the province’s budget. The... Read More

Ontario, Saskatchewan premiers vow to reduce provincial trade barriers

Ontario, Saskatchewan premiers vow to reduce provincial trade barriers
TORONTO — The premiers of Ontario and Saskatchewan say they are working together to reduce trade barriers between their provinces. Ontario Premier Doug Ford and his Saskatchewan counterpart Scott Moe say they have signed a memorandum of understanding on the issue. The two premiers made the announcement at a joint news conference in Toronto. Ford says that Canada has focused... Read More