Trudeau affirms importance of NAFTA amid rumbling of U.S.-Mexico deal

Trudeau affirms importance of NAFTA amid rumbling of U.S.-Mexico deal
OTTAWA — Prime Minister Justin Trudeau says Canada is still pushing for a three-country North American Free Trade Agreement despite rumblings of a bilateral deal between the United States and Mexico. Trudeau says today that NAFTA remains the best option for ensuring prosperity for workers in all three countries. However, U.S. President Donald Trump and his Agriculture Secretary Sonny Purdue both... Read More

Canada’s annual inflation rises 2.5% thanks to boost from higher energy prices

Canada’s annual inflation rises 2.5% thanks to boost from higher energy prices
OTTAWA — The country’s annual inflation rate rose to 2.5 per cent in June as consumer prices grew at their fastest pace in more than six years, Statistics Canada said in a report Friday. The federal agency’s latest inflation number received a boost from higher energy prices, especially gasoline, fuel oil and other fuels. It followed a 2.2 per cent... Read More

No easy ride for ride-hailing in B.C. as province delays implementation again

No easy ride for ride-hailing in B.C. as province delays implementation again
VANCOUVER — The British Columbia government says it will ease into allowing ride-hailing services in the province, laying the groundwork for the new rides to enter the market as early as the fall of 2019. In the meantime, Transport Minister Claire Trevena says it will increase the number of taxis on the streets to help people get a safe ride and allow for... Read More

Saskatchewan finishes 2017-18 with smaller deficit; still $303M in red

Saskatchewan finishes 2017-18 with smaller deficit; still $303M in red
REGINA — Stronger that expected resource revenue helped the Saskatchewan government finish the last fiscal year with a deficit almost $400 million smaller than initially forecast. The province finished 2017-18 spending $303 million more than it took in. But that’s $393 million better than what was projected in last year’s budget. Finance Minister Donna Harpauer says a stronger performance in the oil and potash sectors helped. Other factors included an increase... Read More

U.S. launches national security investigation against uranium imports

U.S. launches national security investigation against uranium imports
Canada could face a larger trade dispute with the U.S. after the Department of Commerce launched another national security investigation, this time by looking into uranium imports. Commerce Secretary Wilbur Ross announced the investigation Wednesday, noting U.S. production of uranium for military and electric power has decreased to five per cent of its consumption from 49 per cent in 1987. “The Department of... Read More

Manitoba Hydro boss announces retirement; says the time is right to leave

Manitoba Hydro boss announces retirement; says the time is right to leave
WINNIPEG — The president and CEO of Manitoba Hydro has announced he is retiring less than three years after joining the Crown corporation. Kelvin Shepherd, who joined the utility in December 2015 after a five-year stint at MTS Inc., says in a release that he will be stepping down Nov. 16. Manitoba Hydro’s board of directors, citing an inability to work... Read More

Loblaw delivers closing arguments in $437-million tax dispute with CRA

Loblaw delivers closing arguments in $437-million tax dispute with CRA
TORONTO — A lawyer for Loblaw Companies Ltd. told a Toronto court today there is no evidence to back the Canada Revenue Agency’s allegations that its Barbadian banking subsidiary was misused for tax avoidance. Loblaw’s lawyer Al Meghji said in his closing arguments at the Tax Court of Canada that Barbados-based Glenhuron Bank is viewed as a bank under Barbadian law, and should qualify for... Read More

Powell bullish on US economy, expects rates to keep rising

Powell bullish on US economy, expects rates to keep rising
WASHINGTON — Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy and expects to keep raising interest rates gradually. He said solid job gains and strong economic growth has enabled the Fed to dial back the “extra boost” it implemented during the financial crisis and recession. In his semi-annual testimony to Congress Tuesday, Powell described the... Read More

China’s economic growth cools amid trade tensions

China’s economic growth cools amid trade tensions
BEIJING — China’s economic growth slowed in the quarter ending in June, adding to challenges for Beijing as its tariff battle with Washington escalates. The world’s second-largest economy expanded by 6.7 per cent over a year earlier, down from the previous quarter’s 6.8 per cent, the government reported Monday. Key drivers of growth including spending on construction and other investments were weakening even... Read More

B.C. says local governments can regulate pot growth on agricultural land

B.C. says local governments can regulate pot growth on agricultural land
VANCOUVER — Local and Indigenous governments in British Columbia will be permitted to prevent marijuana production in their communities on land that is part of the Agricultural Land Reserve, but with conditions. The Ministry of Agriculture says in a release that the regulatory change is effective immediately and gives governments the right to prevent industrial-style, cement-based and cannabis-production bunkers in their... Read More