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

Statistics Canada says merchandise trade deficit fell to $966 million in August

Statistics Canada says merchandise trade deficit fell to $966 million in August
OTTAWA — Statistics Canada says the country’s merchandise trade deficit fell to $966 million in August compared with $1.4 billion in July. Economists had expected a deficit of $1 billion, according to financial markets data firm Refinitiv. The smaller deficit came as exports rose for the first time after two months of declines. Exports rose 1.8 per cent, boosted by... Read More

Alberta finance minister to host two telephone town halls on budget next week

Alberta finance minister to host two telephone town halls on budget next week
EDMONTON — Alberta’s finance minister is hosting two telephone town halls next week to take questions and advice from the public on his upcoming budget. Travis Toews will dial in to speak to and hear from Albertans north of Red Deer on Monday night. On Wednesday night, residents in Red Deer and southern Alberta get the opportunity to have their say. The government... Read More

Survey: US service sector activity sinks to a 3-year low

Survey: US service sector activity sinks to a 3-year low
WASHINGTON — Growth in the U.S. services sector slowed sharply in September to the lowest level in three years, suggesting that rising uncertainty is weakening the bulk of the economy. The Institute for Supply Management, an association of purchasing managers, says its non-manufacturing index slipped to 52.6 from 56.4 in August. Readings above 50 signal growth, but September’s figures are... Read More

Quebec helping print media weather digital storm with refundable tax credits

Quebec helping print media weather digital storm with refundable tax credits
QUEBEC — The Quebec government is giving the province’s print media a financial boost to help it confront the unprecedented crisis facing the industry from the rise of digital competitors. Media companies will be able to claim a refundable tax credit equal to 35 per cent of employees’ salaries over five years to give them financial leeway while they seek a new... Read More