Here’s a quick glance at unemployment rates for September, by Canadian city

Here’s a quick glance at unemployment rates for September, by Canadian city
OTTAWA — The national unemployment rate was 5.5 per cent in September. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the previous month in brackets): — St. John’s,... Read More

Ontario fiscal update coming Nov. 6, Finance Minister Rod Phillips says

Ontario fiscal update coming Nov. 6, Finance Minister Rod Phillips says
TORONTO — Ontario’s finance minister says he will deliver the province’s next major fiscal update in early November. Rod Phillips says the government’s fall economic statement will be released Nov. 6. He did not detail specific measures that will be included, but says the province is on track to beat its previous 2019-20 deficit projection of $10.3 billion. The economic statement... Read More

Stock markets move higher on optimism at start of U.S.-China trade talks

Stock markets move higher on optimism at start of U.S.-China trade talks
TORONTO — North American stock markets got a lift Thursday as trade talks commenced with hopes for a truce between the U.S. and China. Investors responded positively after U.S. President Donald Trump said that he will meet at the White House Friday with China’s vice-chairman. “Big day of negotiations with China. They want to make a deal, but do I?,”... Read More

Stock markets trade higher as latest round of U.S.-China trade talks start

Stock markets trade higher as latest round of U.S.-China trade talks start
TORONTO — Canada’s main stock index headed higher in late-morning trading, while U.S. stock markets also traded higher as the latest round in U.S.-China trade began. The S&P/TSX composite index was up 42.70 points at 16,422.57. In New York, the Dow Jones industrial average was up 245.17 points at 26,591.18. The S&P 500 index was up 28.23 points at 2,947.63,... Read More

OECD floats sending tech tax proceeds to countries where revenues are generated

OECD floats sending tech tax proceeds to countries where revenues are generated
TORONTO — A global economic body has proposed a new way of taxing tech giants and other multinationals, a topic that is gathering attention around the world and has become an election issue in Canada. The plan from the Paris-based Organization for Economic Co-operation and Development, which advises 134 countries, comes after France and the United States agreed in August to find a way... Read More

Survey finds two-thirds of business owners disappointed by federal policies

Survey finds two-thirds of business owners disappointed by federal policies
TORONTO — A new survey says two-thirds of Canadian business owners believe current federal policies have failed to help grow their enterprises. The poll by Angus Reid, commissioned by cloud management company Sage, also suggests that confidence among entrepreneurs is split, with roughly half planning to invest in their businesses in the next 18 months. Of those opting not to put more... Read More

IMF chief: trade conflicts fuel synchronized global slowdown

IMF chief: trade conflicts fuel synchronized global slowdown
WASHINGTON — The new head of the 189-nation International Monetary Fund warned Tuesday that the world economy is in the grips of a “synchronized global slowdown” that will result in slower growth for 90% of the world this year. IMF Managing Director Kristalina Georgieva said that an updated IMF forecast to be released next week will show growth falling to... Read More

Norwegian fund excludes four Canadian firms as it exits oilsands investments

Norwegian fund excludes four Canadian firms as it exits oilsands investments
CALGARY — The largest pension fund in Norway has removed four Canadian energy names from its investment list and says it will no longer put money in companies that derive more than five per cent of their revenue from the oilsands. KLP says it sold US$58 million worth of stocks and bonds as it reduces its tolerance threshold for companies with interests in the... 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: IT security event The Sector IT security conference kicks off on Monday in Toronto. Experts will discuss malware, ransomware attacks and Canada’s role in the global security market. Housing starts Canada Mortgage and Housing Corp. will release preliminary housing start data for September on... Read More

US unemployment rate hits a 50-year low even as hiring slows

US unemployment rate hits a 50-year low even as hiring slows
WASHINGTON — The U.S. unemployment rate fell to 3.5% in September, the lowest level in nearly five decades, even though employers appeared to turn more cautious and slowed their hiring. The economy added a modest 136,000 jobs, enough to likely ease worries that an economy weakened by the U.S.-China trade war and tepid global growth might be edging toward a... Read More